ABN Newswire

Asian Activities Report for December 23, 2011: Xinjiang Goldwind (SHE:002202) to Participate in a Wind Power Project in Pakistan

newsroom@abnnewswire.net — Fri, 23 Dec 2011 12:00:35 GMT

Xinjiang Goldwind Science & Technology Co., Ltd. (SHE:002202) (HKG:2208) has signed an agreement with China Three Gorges Corporation ("Three Gorges") to provide 33 units of wind turbines for Three Gorges's wind power project in Pakistan, and to provide operations and maintenance services for two years. This is Goldwind's first order from Pakistan, which marks another achievement in its global expansion.

New Times Energy Corporation Limited (HKG:0166) has signed a letter of intent in relation to a possible acquisition of further 9.25% interest in two oil and gas exploration concessions in Argentina. New Times Energy acquired 60% interest in the two concessions in 2009, and completed workover program of two existing wells in the concessions. Commercial production of the two wells is expected to commence in the second half of 2012.

Japan's oldest insurance group Tokio Marine Holdings, Inc. (TYO:8766) will acquire 100% of the outstanding shares of Delphi Financial Group, Inc. (NYSE:DFG), a U.S. life and property & casualty insurance group for US$2,664 million. The Acquisition will allow Tokio Marine to establish another business operation in the U.S. and to realize significant profit expansion.

Takeda Pharmaceutical Company Limited (TYO:4502) has decided to integrate two wholly-owned subsidiaries in the U.S., Takeda San Diego, Inc. ("TSD") and Takeda San Francisco, Inc. ("TSF") on January 1, 2012, to form a new company Takeda California, Inc.. The integration will combine the excellent platform technology of TSD and expertise of therapeutic antibody research accumulated by TSF to increase the research and development capability of new drug discovery.

Qiubei Fu
Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Asian Activities Report for September 15, 2011: Largest Iron Ore Producer in India to Become Cornerstone Investor in Legacy Iron Ore Limited (ASX:LCY)

newsroom@abnnewswire.net — Thu, 15 Sept 2011 12:04:21 GMT

Legacy Iron Ore Limited (ASX:LCY) has received a formal binding offer from the Indian government owned National Mineral Development Corporation Limited ("NMDC") for NMDC to become a cornerstone investor in Legacy via a placement agreement. NMDC is the single largest producer of iron ore in India. To have NMDC as a strategic investor will assist Legacy with its transition from a junior exploration company into a substantial mining company.

Orpheus Energy Limited (ASX:OEG) has received a preliminary pit design for its B26 coking and thermal coal project in Indonesia. Orpheus has commissioned a survey of the project area B2 to identify coal face positions in order to complete both the short term and life of mine production plans. The B2 short term mining production plan is targeting a production rate of 40,000 tonnes per month from November 2011.

Argentina Mining Limited (ASX:AVK) has identified a significant geophysical anomaly potentially representing a large sulphide mineralised system at its flagship Cerro Blanco Porphyry Copper Project in Argentina. Anomaly is open to the south and potentially at depth. Drilling of this new target has commenced this week to planned depths of up to 750 metres.

Red Mountain Mining (ASX:RMX) has intersected significant gold mineralisation during its initial underground drilling program at the Zhongqu project in Gansu Province, China. Results confirm that the project is capable of hosting mine grade mineralisation amenable to modern underground mining methods. These results will contribute to the estimation of an initial resource model.

Reliance Capital Limited (BOM:500111) has received a regulatory approval for its proposed 26% stake sale in Reliance Life Insurance to Nippon Life Insurance for USD 680 millions. The transaction is expected to close in the next few weeks and will enable Reliance Capital to work closely with Nippon Life Insurance to further strengthen Reliance Life Insurance's position as a leading insurance company in India.

Asia Business News
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Asian Activities Report for September 6, 2011: Australia Minerals and Mining Group (ASX:AKA) Successfully Produced Alumina from 150 Million Tonne Kaolin Resource

newsroom@abnnewswire.net — Tue, 6 Sept 2011 12:00:05 GMT

Australia Minerals and Mining Group Limited (ASX:AKA) has successfully produced alumina from a sample of the company's 150 million tonne kaolin resources at the Meckering project. A 20 kilogram crude kaolin sample from the project was supplied to a Chinese technology holder for processing, and produced 1.06 kilograms of 99% metallurgical grade alumina and 86 grams of 99.99% high purity alumina. The Company is currently carrying out a technical marketing study for a range of potential kaolin-based products, and looking for customers and joint venture partners in China, India, South-East Asia and the USA.

UXA Resources Limited (ASX:UXA) announced up to 690ppm eU3O8 strongly anomalous uranium values from the first phase drilling at the Nabarlek North Joint Venture project in the Northern Territory. Geochemical samples have been collected from all anomalous zones and submitted for multi-element assay to identify any other metal anomalism. A second phase 1,700m drill program is being planned to follow up phase one results.

Saracen Mineral Holdings Limited (ASX:SAR) has completed an update of its JORC-compliant Mineral Resources and Ore Reserves statements with total Resources (Measured, Indicated and Inferred) increasing 10% to 3.6Moz of gold. The resource base will support the Company's gold operation at Carosue Dam at current production rates for at least a decade. Next month Saracen will commence underground trial mining at its high-grade Red October project. The company is targeting an annual gold production rate of 250,000oz in the coming years.

Renaissance Uranium Limited (ASX:RNU) has identified multiple gold drill targets from the recently completed infill, multi-element soil sampling at its 100%-owned Cutana Project in South Australia. The sampling results have confirmed the project's gold potential, with five high priority targets selected for drilling scheduled to commence next quarter.

Tata Consultancy Services Limited (BOM:532540), a leading IT services and consulting company in India, is partnering with Westpac's insurance division in New Zealand to assist Westpac to upgrade and transform its Life Insurance Platform. The two parties will work together to introduce new insurance products in New Zealand and improve levels of services to Westpac's customers.

Asia Business News
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Asian Activities Report for August 16, 2011: Insurance Australia Group (ASX:IAG) Makes Strategic Investment in a Chinese General Insurer

newsroom@abnnewswire.net — Tue, 16 Aug 2011 12:00:33 GMT

Insurance Australia Group Limited (ASX:IAG) has agreed to acquire a 20% strategic interest in a general insurer in China, Bohai Property Insurance Pty Ltd, for a price of approximately A$100 million. Bohai Insurance is predominantly a motor insurer, selling directly to customers through around 265 provincial and city-based branches and a network of agents in China. The acquisition was an important step in IAG's strategy to enter China's general insurance market. Once the partnership is complete, IAG will have an Asian foothold in China, India, Malaysia and Thailand. IAG expects its Asia division to contribute 10% of the group's gross written premium by 2016.

Empire Resources Limited (ASX:ERL) reported high grade copper intersections of up to 19 metres at 1.85% from the A Zone prospect within the Company's wholly owned Yuinmery copper-gold project in Western Australia. The A Zone prospect lies 1.3 km north of Empire's flagship Just Desserts prospect where the Company has defined a JORC Indicated and Inferred resource of 1,070,000 tonnes at 1.82% copper and 0.78g/t gold. Drilling is continuing at A Zone to test a number of other promising targets in the area.

BrightStar Resources Limited (ASX:BUT) today announced results from its first pass exploration drilling at the 520,000oz Miyabi Gold Project in Tanzania. Drilling has extended the current gold mineralisation and identified a new gold mineralisation which is open to the east and west. Follow-up RC drilling is planned to test the mineralisation at depth.

Intrepid Mines Limited (ASX:IAU) reported further encouraging gold and copper assay results from the on-going drilling program at the copper-gold zone of the Tujuh Bukit Project in Indonesia. Results included 96 meters at 0.90 g/t gold and 1.15% copper, delivering grades significantly greater than the project's resource grade. The company will commence follow-up work to further test the intercepts.

Asia Business News
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Asian Activities Report for August 3, 2011: TNG Limited (ASX:TNG) to Form Strategic Partnership with Leading Chinese Group

newsroom@abnnewswire.net — Wed, 3 Aug 2011 12:00:33 GMT

Australian resources company TNG Limited (ASX:TNG) has entered into a binding agreement with Jiangsu Eastern China Non-Ferrous Metals Investment Holding Company Ltd., a leading Chinese state-owned enterprise part of the East China Mineral Exploration & Development Bureau ("ECE"). As part of the agreement, ECE will invest A$13.4 million for a 30% stake holding in TNG Limited. The strategic partnership will underpin the ongoing Pre-Feasibility Study and upcoming pilot plant metallurgical test work program for TNG's flagship Mount Peake Iron-Vanadium Project in the Northern Territory.

New Age Exploration Limited (ASX:NAE) has entered into a binding agreement to acquire another coking coal exploration and mining concession in Colombia. This is the Company's second coking coal acquisition in Colombia and has increased its total JORC Conceptual Exploration Target to 30 to 58 Mt of high quality medium volatile hard coking coal.

Altura Mining Limited (ASX:AJM) announced further drilling results from its Pilgangoora Lithium project located in the Pilbara region of Western Australia. The results have confirmed the presence of thick and shallow spodumene mineralised pegmatites and returned assays displaying significant lithium mineralisation of over 1,300 metres. The Company has an initial objective of locating 20 million tonnes of spodumene mineralised pegmatites and maiden JORC mineral resource estimate is expected to be completed in August 2011.

South African focused coal mining company Continental Coal Limited (ASX:CCC) said today that the Sishen Iron Ore Company Community Development Trust ("SIOC-cdt") is to acquire a 26% interest in Continental Coal's South African subsidiary and will invest initially ZAR140 million into Continental Coal's South African coal business. SIOC-cdt is a highly respected and well established Broad Based Black Economic Empowerment Company whose principal investment is a shareholding in the Sishen Iron Ore Company (Pty) Ltd, which has one of the largest iron ore operations in the world.

MphasiS (BOM:526299), a global IT services provider in India, has signed a definitive agreement to acquire 100% equity stake in Wyde Corporation, a US-based international software vendor and creator of Wynsure, an Insurance Policy Administration Solution used by many leading insurance carriers in North America and Europe. The acquisition will extend MphasiS' insurance footprint in Life & Annuities segment and strengthen its existing capability in the Property & Casualty segment.

Asia Business News
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Microequities Rising Stars Conference WebCast on June 21, 2011 at 9:30AM AEST

newsroom@abnnewswire.net — Sun, 19 June 2011 15:01:24 GMT

Microequities Rising Star Conference will be WebCast from 9:30 am Sydney Time live for the Radisson Plaza Hotel on Tuesday 21 June, 2011. Investorium.tv (Financial News WebCasting) will be broadcasting the Conference Live from the Venue and making the presentations available to investors and analysts worldwide.

Company Presentations Timetable:

CLOVER CORP (ASX:CLV)
Ian Brown (CEO) 9.30-10.00 am

BIG AIR (ASX:BGL)
Jason Ashton (CEO) 10.00-10.30 am

RUNGE LIMITED (ASX:RUL)
Kieren Wallis (CFO) 11.00-11.30 am

CALLIDEN GROUP (ASX:CIX)
Nick Kirk (CEO) 11.30-12.00 pm

XRF SCIENTIFIC (ASX:XRF)
Vance Stazzonelli (CFO) 12.00-12.30 pm

SILVER CHEF (ASX:SIV)
Charles Gregory (CEO) 13.30-14.00 pm

VOCUS (ASX:VOC)
James Spenceley (CEO) 14.00-14.30 pm

ASG GROUP (ASX:ASZ)
Dean Langenbach (CFO) 15.00-15.30 pm

QMASTOR (ASX:QML)
Steve Maxwell (COO) 15.30-16.00 pm

To Watch the Live WebCast, please visit:
http://www.investorium.tv/livestream.asp

You can also register to receive a notification by SMS and Email when the Live WebCast begins from the Radisson Plaza Hotel in Sydney.

Microequities is a specialised Microcap asset manager. Established in 2005 as an independent investment research house devoted to Microcaps. Microequities expanded into funds management in early 2009 by launching our flagship Deep Value Microcap Fund.

Clover Corporation (ASX:CLV)
Food Science - Market Cap $48 million- MICROEQUITIES RESEARCH COVERED Clover Corporation is a life science company, which develops innovative functional food ingredients used to improve the nutritional qualities of a range of foods including infant nutrition and dietary supplements. Whilst Clover's 1st HY11 results were flat YoY, the company expects to deliver a stronger second half performance as its US distribution partner GTC Nutrition amps its marketing activities.

BigAir Group Limited (ASX:BGL)
Telecommunication Services - Market Cap $35 million-MICROEQUITIES RESEARCH COVERED BigAir is a telecommunication carrier that owns and operates Australia's largest metropolitan fixed wireless WiMax broadband network. FY11 has been a busy period for BigAir. The company acquired its biggest competitor Clever Communications in a friendly takeover, and made a significant acquisition expanding its student services ISP business. The company's FY11 and FY12 growth outlook looks formidable. Its recent acquisitions and the a 20%+ organic growth rate is expected to take the company beyond $20m+ in revenues and $10m+ in EBITDA (Microequities forecast for FY12)

Runge Limited (ASX:RUL)
Mining Technology - Market Cap $47 million Runge is an industry leader in mining consulting services. Runge's consultants provide engineering support services for mines worldwide from start up to production, including feasibility studies, due diligence and valuation, mine planning and scheduling, mine optimisation, business systems and software implementation. Following a difficult operating environment, Runge's 1st HY11 results suggest the company is regaining momentum. Revenues were up 20% on pcp and NPAT rose +26% over pcp.

Calliden Group: (ASX:CIX)
Insurance - Market Cap $44 million Calliden is a specialist developer of niche general insurance products. Rebranded in 2005, the Group operates in three core areas of insurance: Motor (12%), Home (24%) and Commercial (64%). The group wrote $212m in premiums in 2010. Whilst the start of 2011 saw a testing period for the sector due to natural disasters in the Asia Pacific region, the company is increasing its premiums across its products range. The company's management recently announced that during 1st QTR it had experienced double digit growth in premiums.

XRF Scientific Limited (ASX:XRF)
Capital Goods - Market Cap $23 million MICROEQUITIES RESEARCH COVERED XRF Scientific Limited is a manufacturer and marketer of specialised laboratory instruments and chemicals for the scientific and analytical industries, and in particular the mining industry. Clients include multinational blue-chip customers such as BHP Billiton, Rio Tinto, Xstrata, Alcoa and CSIRO. The company's $7m acquisition of its main domestic competitor, Sigma Flux, has proved to be a key growth driver. XRF's 1st results demonstrated a surge in revenue of 31% to $8.6m, whilst NPAT increased 45% to 1m.

Silver Chef Limited (ASX:SIV)
Equipment Finance - Market Cap $81 million MICROEQUITIES RESEARCH COVERED Silver Chef provides equipment rental finance predominantly to the Hospitality sector (restaurant and fast food). Over the last two years, Silver Chef has been rapidly expanding its GoGetta business focusing on the broader commercial equipment market, including compressors, audio & lighting, mining and construction equipment. Silver Chef 1st half results delivered a sharp increase in revenue of 29% to $30.1m, whilst EBITDA increased 22% to 19.5m.

Vocus Communications (ASX:VOC)
Telecommunication Services - Market Cap $130 million MICROEQUITIES RESEARCH COVERED Established in 2008, Vocus has rapidly grown to be one of the major wholesale carriers of telecommunications services in Australia. Originally focused on IP transit services, the company has recently expanded into data centres. In March 2011, the company acquired PethIX a leading Perth CBD based data centre thereby expanding its data centres business. Vocus is well poised to continue its impressive earnings growth into FY12.

ASG Group Limited (ASX:ASZ)
IT Services - Market Cap $162 million ASG is Australia's biggest managed services provider and one of the leading IT providers. Established in 1996 and listed in 2002, ASG has been growing its EPS since 2004, and paying consistent dividends since that watershed year. ASG has grown from a $24m sales per year business to $120m+. It has over 600 staff and services over 120 clients in the enterprise, corporate and government sectors. The company continues to experience growth, and is seeing an improvement in EBITDA margins trending towards FY10 levels of 18%.

QMASTOR Ltd (ASX:QML)
Software - Market Cap $13 million MICROEQUITIES RESEARCH COVERED QMASTOR is a leading technology company providing specialist software and services to the global mining, port, power generation and bulk commodity industries, specifically iron ore and coal. In late 2010, the company acquired Algosys, a Canadian software company with metallurgical accounting software, providing QMASTOR with strong revenue synergies. QMASTOR's 1st half results saw a 59% jump in revenue to $5.6m whilst EBITDA improved to $0.4m. For the full FY11 year, management has guided $13-14m in revenue with EBITDA of approximately $3m.

Microequities:
TEL: +61-2-9232-7494
http://www.microequities.com.au

Investorium.tv Livestream:
http://www.investorium.tv/livestream.asp

3rd China International Insurance Summit 2011 To Be Held In March In Beijing

newsroom@abnnewswire.net — Thu, 30 Dec 2010 16:15:37 GMT

Organized by Duxes Business Consulting Inc. and endorsed by powerful organizations around the world, 3rd China International Insurance Summit 2011 will take place on 9-11 March, 2011 in Beijing, China.

Despite the world financial crisis, the international insurance industry has witnessed fast and sustainable development. China, a good entry point to explore the significant impact on international insurance capacity, competition and pricing, increased 33.6% in premium income on last year's same period with the newly released laws and regulations.

With the previous two annual events being great successes that attracted 168 high-profile delegates from 116 businesses, the 3rd China International Insurance Summit 2011 is to be held with the strong recommendation of previous speakers and attendants.

The 3rd China International Insurance Summit 2011 is to share with attendees the first-hand information of industrial policies and trends of Chinese insurance development. The summit will help to break the bottleneck in compulsory traffic accident liability insurance and optimize individualized third party agent service and investment strategies in China. High-profile speakers will share their experience on risk diversification, anti-insurance fraud and anti-money laundry. It will provide a premium platform to get solutions to balance among management of insurance reserve fund, risk assets and investment on fixed-coupon rate securities.

Event Time: 9-11 March, 2011
Venue: Kuntai Royal Hotel, Beijing, China
Organizer: Duxes Business Consulting Inc.
Website: http://www.duxes-events.com/insurance_3

Email: events@duxes.cn
http://www.duxes.cn/Index.aspx

Australian Market Report of December 29, 2010: Kangaroo Resources (ASX:KRL) Announce A$277M Acquisition of Indonesian Thermal Coal Project

newsroom@abnnewswire.net — Wed, 29 Dec 2010 13:30:00 GMT

Kangaroo Resources Limited (ASX:KRL) has signed an agreement to acquire 99% of the large-scale Pakar Thermal Coal Project, a fully-developed, integrated thermal coal operation in Indonesia, from a leading Indonesian coal company PT Bayan Resources Tbk (JAK:BYAN) for A$277M. Pakar Project hosts 3.8 billion tonnes of JORC Coal Resources and is ready for production in 2011.

TOWER Australia Group Limited (ASX:TAL) today announced that Dai-ichi (TYO:8750), one of world's top ten life insurers based on revenue, had offered to acquire all of the issued shares in TOWER that it does not already own for A$4.00 cash per share. Dai-ichi currently owns 29.0% of TOWER and the Offer values TOWER at A$1.76 billion. The two companies signed a Scheme Implementation Deed on 28 December 2010. Subject to shareholder and regulatory approvals, the acquisition will assist Dai-ichi in its future development in the competitive Australian insurance market.

Uran Limited (ASX:URA) has entered into an option to earn a 51% interest in a number of manganese projects in Zambia. The properties include 5 large-scale prospecting licences and 2 small scale mining licences. Mining of manganese has been carried out in 2010 on one of the small scale mining licences and has exposed a number of manganese reefs at or close to surface. In an area adjacent to Uran Limited's newly acquired properties, UK-based Genesis Procurement Company is currently producing about 48,000 tonnes of manganese ore with ore grading between 45%-63% MnO2.

Imperial Corporation Limited (ASX:IMP) announced that its 92% owned subsidiary, Empire Energy USA LLC, has completed US$60.25 million acquisition of oil producing assets in Kansas plus a 35% working interest in 17,000 acres in North Dakota, USA. The acquired assets in Kansas are located in a very energy-producer-friendly State where operations are inexpensive and drilling is relatively low risk. The acquisition will enable Empire Energy to produce 580 Bbls per day.

Asia Business News
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FINANCE VIDEO: Randolph Koppa From Trade and Development Bank Speaks With Yuji Iwasaki in Mongolia

newsroom@abnnewswire.net — Thu, 19 Aug 2010 15:55:38 GMT

FINANCE VIDEO: Randolph Koppa From Trade and Development Bank Speaks With Yuji Iwasaki in Mongolia.

Trade and Development Bank prides itself for its leading position in the universal banking service provider, offering a full range of services, including large corporate, SME and retail lending, deposit-taking, trade finance, remittance, cash management, treasury, foreign exchange and investment banking. TDB acts as a primary lender to most of the country's leading corporations as well as foreign corporations and foreign representative offices across all major industrial and commercial sectors with a constantly innovating range of universal banking products and services delivered with dynamism and excellence in service and quality. Leveraging this pre-eminent position and its long-standing customer relationships, the Bank has consolidated its market-leading position in the handling of international trade finance and remittance, with access to credit lines from major international lenders and correspondent banking relationships with over 100 international financial institutions.

Australian Market Report of July 29, 2010

newsroom@abnnewswire.net — Thu, 29 July 2010 13:30:27 GMT

The Australian shares dropped this morning after Wall Street ended its four straight day rises. US shares fell on news that orders for big-ticket items sank in June on weaker demand for airplanes and electronic goods.

The benchmark S&P/ASX200 index lost 0.56 per cent in early trade while the broader All Ordinaries index dropped 0.38 per cent. There were losses across most sectors on the local market, led by financial stocks.

Company News

Tower Australia (ASX:TAL) said today that its inforce premium exceeded the A$1 billion mark for the first time during the June 2010 quarter, up 40.5 per cent from a year earlier. Inforce premiums are initial premiums on all insurance policies that have not been cancelled or expired. New business premiums more than doubled to A$127.3 million from A$58.1 million. Individual new business growth was flat year on year. But the new business growth of 207 per cent in Group Risk mainly reflected the inclusion of new income protection benefits to 700,000 AustralianSuper members, increasing premiums by A$80 million a year, Tower said.

Centro Properties Group (ASX:CNP) said it has completed a number of financing achievements across its US business and continues to progress its assessment of restructure options. Centro has completed financing arrangements for about US$2.7 billion of the US$3.2 billion of debt within Super LLC (a joint venture of CNP, Centro Retail Trust (CER) and Centro MCS 40), which was due to expire on or before December 31, 2010. The US$2.7 billion financing arrangements include an extension of about US$2.3 billion and a refinancing of over US$400 million, the company said. A number of options to address the balance of US$440m are being considered and Centro is confident these will be resolved in due course.

Goodman Group (ASX:GMG) confirms today that it has interest in becoming the manager of ING Industrial Fund (ASX:IIF), ING's Australian real estate platform, to retain it as a standalone listed vehicle. Goodman currently owns 4.4 per cent of the IIF. Goodman believes that this would be a prudent expansion of its fund management business. Detailed discussions have not taken place, and there is no certainty that any transaction will proceed, Goodman said.

Subscription television services Austar United Communications Ltd (ASX:AUN) said its net profit fell 42 per cent to A$20.69 million in the six months ended June 30 from A$$35.5 million for the first half of last year. Revenue was up 6.3 per cent to A$351.86 million. Chief executive Mr John Porter said the company is seeing positive signs that momentum has returned, and its product is better than ever with the launch of download and streaming product, Austar AnyWhere, in early July.

Kingsgate Consolidated Limited (ASX:KCN) (PINK:KSKGF) has substantially increased its interim Mineral Resources and Ore Reserve estimates for 2010 at the Chatree Gold Mine in central Thailand. Interim Ore Reserves increased to 1.9 million ounces of gold in 61.7 million tonnes of ore at a grade of 1.0 gram/tonne gold as at the 30th June 2010. This represents a 41% increase in Ore Reserves. Contained within the Ore Reserve estimate is 19 million ounces of silver at a grade of 9.4 g/t silver.

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net