Business Briefs
Business Briefs
March 2005
African communications giant Econet Wireless has filed suit
in the PNG national court against the Papua New Guinea government for breach of
contract, claiming US$524 million in damages. The PNG government terminated the
proposed sale of 51 percent of Telikom (PNG) Ltd. for K150 million (US$52.23 million)
to the African company last December. Australian company Minerals
Corporation Limited plans to invest US$9 million to set up a kaolin processing
and packaging plant in Papua New Guinea. A factory in Port Moresby could be open
within the next 12 months and employ 45 people. Kaolin is a raw mineral used for
making paper, ceramics, paint, soap, and detergent. Fiji About
25 businessmen from India were to visit Fiji in February to tour the Fiji Sugar
Corporation's (FSC) sugar mills. They are among parties that have submitted expressions
of interest to supply F$86 million (US$51.8 million) worth of machines to the
corporation. FSC chairman Ross McDonald says the process of calling for tenders
and their review will take months, but he is hopeful the new machines will be
in place for next year's crushing season. CNMI Japanese
investors are pulling their investments out of the Northern Marianas by selling
hotels, a golf course, and a shopping mart. The latest hotel to be sold is the
Saipan Grand Hotel (SGH), one of the pioneers of the tourism industry. On Jan.
5, Asia Pacific Hotels, Inc., (APHI), owned by Tan Holdings Corp., purchased the
224-room hotel. APHI also owns and operates the Dai-Ichi Hotel Saipan and Guam
Dai-Ichi Hotel. Guam During January, professional
baseball players and soccer players from Japan and Korea worked out at the Leo
Palace Resort in Guam. Baseball players from the Yomiuri Giants and the Hanshin
Tigers in Japan and the Korean Chunichi Dragons conducted training camps. The
Samsung Lions baseball team of Korea held tryouts in late January. Six Japanese
professional soccer teams also trained on Guam. Guam Visitors Bureau officials
estimate the visits generated publicity worth more than $154,000 in advertising. Marshall Islands The Marshall Islands ship registry is on track to reach 25 million
gross tons in the first quarter of 2005, according to the registry's managing
company, International Registries, Inc. of Reston, Virginia. It is ranked in the
top 10 ship registries globally in terms of gross tonnage. The ship registry is
targeting growth in Asia, says Bill Gallagher, IRI president. Offices in Singapore
and Shanghai were opened during 2004, and a second office in China will be opened
in Dalian this year. Kiribati President Anote Tong and
the leaders of the two main religious groups in the country, Bishop Paul Mea of
the Roman Catholic Church and Baiteke Nabetari of the Kiribati Protestant Church,
delivered a special New Year message to all I-Kiribati seamen working onboard
foreign vessels urging them to avoid alcohol abuse because it has become the leading
reason for their suspension and firing. South Pacific Marine Services, which provides
employment for I-Kiribati seamen, say there were reports of seamen not attending
work, fighting among themselves, causing damages and even assaulting their superior
officers. It is estimated that seamen remit more than $2 million annually. American Samoa American Samoa's second commercial television station will debut
May 1. It will be an NBC television network affiliate, according to locally-based
South Seas Broadcasting Inc. (SSCI), which also operates an FM radio station.
"We felt the time was right for the territory to have a real U.S.-style TV station,
complete with local news broadcast and commercials," says John Summers, vice president
and general manager of the FM station. The FM station's Joey Cummings will manage
TV station operations, while veteran Pacific journalist Monica Miller will head
the news department for both radio and television stations. Cook Islands The fuel distribution and pricing system in the Cook Islands
has undergone a review by the Asian Development Bank's petroleum consultant Alan
Bartmanovich. Finance Secretary Kevin Carr admits that fuel price is normally
based on the major supplier's price but Bartmanovich's recommendations are expected
to include options for the Cook Islands to consider. Unlike other places, competition
in fuel supply in the Cook Islands increases instead of reducing fuel prices.
Contributors: Alex Rheeney, Frank S. Rosario, Frank Whitman, Giff Johnson, Batiri Bataua, Fili Sagapolutele, Samantha Magick and Ulamila Kurai Marrie. |
