Sunday, February 7, 2010

Suncorp Group extends Unisys business processing contracts

Unisys Corporation today announced that Suncorp Group has extended two long-term business processing contracts with Australian subsidiary Unisys Payment Services Ltd (UPSL). The extensions reflect Suncorp’s continued confidence in Unisys services to provide efficient back-end processing that helps improve the customer experience offered by the bank.


The Suncorp Group is Australia's fifth largest bank and the largest general insurance group by gross written premium. It provides banking, insurance, investment and superannuation products and services to retail customers and small-to-medium-sized businesses.

Under the two contract extensions, Unisys will continue to provide Suncorp’s banking and insurance operations with cheque processing services for a further two years and direct entry electronic payments for a further three years. The services are provided to Suncorp nationally from the UPSL centres in Sydney, Perth, Brisbane, Melbourne and Adelaide.

Since 2001, UPSL has processed approximately 68 million cheque, direct debit and credit payment transactions annually for Suncorp, hosted the financial institution’s payment system for electronic cheque image archive and retrieval, and provided Suncorp with settlement and clearing services.

Suncorp Bank General Manager Terry Wasmund said: “Having Unisys provide these services allows us to focus on other core areas of our business, knowing that back-end payments are being processed in an efficient and cost-effective manner.”

Rafe Kruger, general manager, Business Process Outsourcing, Unisys Asia Pacific, said: “Unisys is proud that Suncorp has chosen to extend its relationship with UPSL. Through a customised service offering, Unisys has assisted Suncorp to accelerate processing times and automate payments operations over the past eight years, delivering an improved experience to its customers.”

Unisys has a strong reputation for delivering high-quality services, including payment processing and mortgage processing, in Australia and across the Asia Pacific region. Financial institutions that rely on Unisys services include RHG Home Loans, RAMS Home Loans and Australia Post in Australia, as well as Maybank, RHB Bank, Citibank and CIMB Bank in Asia.

Saturday, January 30, 2010

NETGEAR Introduces New Solutions at Consumer Electronics Show To Enable Any Media on Any Screen, Anywhere at Anytime

CES Innovations Award Double-Winner Highlights New Routers, Home Media Servers and Players, and Powerline Networking Solutions to Improve Entertainment Experience


NETGEAR®, Inc. (NASDAQGM: NTGR), a worldwide provider of technologically innovative, branded networking solutions, is introducing its newest award-winning products at the 2010 Consumer Electronics Show (CES) in Las Vegas this week. NETGEAR will demonstrate new solutions in the areas of wireless and mobile networking, entertainment and storage to enable consumers to maximize the enjoyment of their HD digital media, anytime, anywhere, and on any screen. NETGEAR is introducing these new products and other emerging technology solutions at two press events today in conjunction with the official opening of CES.

Continuing the NETGEAR legacy of innovation, the company is a double-honoree in the CES Innovations 2010 Design and Engineering Award program that recognizes the industry's hottest product categories. Winners in the Home Networking category are NETGEAR (MS2110), a home media storage server, and the NETGEARÔStora Wireless-N 300 Router with DSL Modem - Mobile Broadband Edition (DGN2200M), which integrates 802.11n Wireless, ADSL2+ and 3G/4G/WiMAX for dual WAN capability with failover protection.

"Many of the new products introduced at CES are increasingly connected not only to the Internet, but also to each other to improve the consumer's entertainment experience. However, for these devices to connect to each other, it's essential to have the right network in place to deliver faster speeds over larger areas and with greater reliability," said Patrick Lo, founder and CEO of NETGEAR. "Like plumbing and electricity, the network has become a basic, must-have utility. NETGEAR provides the essential technology for networks to run efficiently – and we do it better than anyone."
NEW PRODUCTS FOR MEDIA STREAMING AND STORAGE

NETGEAR offers a broad variety of products tailored to the needs of modern, digitally networked consumers. These include Internet-connected set-top boxes, home media storage servers, and various devices that connect people to the Internet and their digital media both inside and outside the home.

The centerpiece of NETGEAR's press events at CES is the CES Innovations Award-winning NETGEAR Stora™ (MS2110), an easy-to-use home media storage server that provides consumers with anytime, anywhere access to their digital media on any screen. Stora enables customers to access, back up and centralize photos, music, movies and files using nearly any network device, including laptops, Macs®, PCs, smartphones, gaming consoles, networked Blu-ray™ players and HDTVs. A smooth and powerful user interface for both local and remote users unleashes home network content for use on nearly any device, at home or away. Music and photos can be shared with TVs, game consoles and even digital photo frames connected across the Internet. Full 1080p HD, Blu-ray streams can be viewed via Internet-connected set-top boxes such as NETGEAR Digital Entertainers. DLNA certification means new devices can join the party at any time. NETGEAR Stora comes with a 1 TB disk and one extra drive bay that can be used to insert an optional disk for mirroring. NETGEAR will introduce a 2 TB version of this award-winning product soon.

Product details, instructional videos and other information are at http://www.netgear.com/stora. Photos are at http://www.netgear.com/Products/Storage/Stora/MS2110.aspx.

With the launch of the Digital Entertainer Express (EVA9100) at CES, NETGEAR is also expanding its family of award-winning digital media players, which already includes the Digital Entertainer Elite (EVA9150) and Digital Entertainer Live (EVA2000). The Digital Entertainer Express is a powerful and flexible digital media player that enables serious media enthusiasts to easily enjoy and seamlessly stream personal digital media collections and Internet content over home networks to HDTVs. The unique technology of the Digital Entertainer Express enables consumers to seamlessly stream M2TS via pre-buffering and play Blu-ray quality digital video up to 1080p. They can also play MP3, multichannel WAV and FLAC files and high-resolution digital photos from PCs, Macs® or Network Attached Storage (NAS) devices, such as the NETGEAR Stora and ReadyNAS®. Consumers can also enjoy Internet content, such as Internet radio (over 250 stations), Flickr™, RSS feeds and videos from popular websites. (
WIRELESS NETWORKING INFRASTRUCTURE FOR HOMES AND SMALL BUSINESSES

Connecting the seemingly endless variety of network-enabled devices for productivity and entertainment in the home requires a wireless network infrastructure that provides range, security, reliability, speed and stability of connections. At CES, NETGEAR is debuting three new full-featured Wireless-N routers which share many outstanding features: Live Parental Controls and content filtering to protect any device on the network; multiple SSID capability for setting up guest networks; Stateful Packet Inspection (SPI), VPN (Virtual Private Network) pass-through and Denial of Service protection; automatic Quality of Service for reliable video, voice and gaming; a broadband usage meter; and energy-saving on/off switches for both power and Wi-Fi®.

Two of the new routers are compatible with high-speed 3G/4G/WiMAX cellular networks and can be used as a primary Internet connection in situations where no connection to a DSL, cable, fiber, or satellite network exists, making them ideal for mobile professionals, emergency response teams, construction crews, satellite offices and rural locations. By plugging an external 3G/4G/WiMAX modem into the new 3G/4G Mobile Broadband Wireless-N Router (MBRN3000), customers can quickly set up a fixed or mobile Wi-Fi hotspot virtually anytime, anywhere, with the ability to share a single high-speed cellular subscription with multiple Wi-Fi enabled devices such as a PC, iPhone™, iPod Touch®, PSP®, etc.

The CES Innovations Award-winning Wireless-N 300 Router with DSL Modem - Mobile Broadband Edition (DGN2200M) offers dual Wide Area Network (WAN) options for Internet access: to a DSL network via a built-in ADSL2+ modem and to a high-speed cellular network via an external 3G/4G/WiMAX USB modem. It is the first wireless-N router in the retail market to offer customers an automatic DSL-to-3G/4G/WiMAX cellular failover feature in case of a DSL outage - ideal for small businesses that need a reliable backup Internet connection with zero downtime.

In addition to the two new mobile broadband wireless routers, NETGEAR is launching the Wireless-N 300 Router with DSL Modem (DGN2200) for consumers and small businesses. It unites 802.11n wireless and high-speed access to DSL broadband via an integrated ADSL2+ modem. It offers the same outstanding features as the Wireless-N 300 Router with DSL Modem – Mobile Broadband Edition (DGN2200M) but does not offer a cellular connection for failover - for many customers, a DSL broadband connection is sufficient for their networking needs. The Wireless-N 300 Router with DSL Modem (DGN2200) will be available worldwide in March 2010 at US $129.

Photos and other information are at http://www.netgear.com/Products/RoutersandGateways/WirelessNRoutersandGateways/DGN2200.aspx.
BRIDGES, SWITCHES AND EXTENDERS FOR CONNECTING NETWORK-ENABLED DEVICES

NETGEAR solves the challenge of distributing high quality, full HD throughout the home by developing products - wireless routers and bridges, powerline devices, and Ethernet switches - that provide customers with the appropriate network infrastructure. NETGEAR is the only networking company that offers the full range of in-home distribution technologies to the retail and service provider markets, including powerline, coax and wireless.

Powerline networking technology enables customers to use existing electrical power outlets to connect to the Internetrather than running unsightly Ethernet cables. In conjunction with CES, NETGEAR is expanding its award-winning family of powerline solutions with two new kits that feature up to 200 Mbps performance, ideal for supporting high-performance applications such as HD video streaming, Voice over IP (VoIP), Internet gaming, and large file transfers to networked devices. The NETGEAR Powerline 200 AV Adapter Kit (XAVB2001) is up to 50 percent smaller than competing products and utilizes the latest in powerline design and technology to offer throughput and speeds up to 20 percent better than competing solutions over extended locations. Its sister product, the NETGEAR Powerline 200 AV+ Adapter Kit (XAVB2501), offers the same performance and design benefits, but also includes a unique filtered power socket for "pass-through" capability. Both devices incorporate HomePlug AV®-certified powerline technology, so can easily and affordably extend any existing HomePlug AV network.

This spring, NETGEAR is bringing to market its first 5-port AV switch for home networks. The new 5-port Home Theater and Gaming Network Switch (GS605AV) connects networked TVs, TiVO®, DVRs, Blu-ray players, game consoles, and cable/satellite set-top boxes to the home network and the Internet at Gigabit speeds. Capable of streaming full HD video up to 1080p, it prioritizes and optimizes performance of the Internet connection to enhance networked video, digital music and latency-free online gaming such as YouTube™, Hulu™, iTunes® and Xbox®. Consumers can easily assign priority to each connected device by selecting the appropriate color-coded port. Energy-efficiency features include an automatic power-down mode when ports are not in use, as well as an automatic detection of the cable length to adjust power usage. The NETGEAR 5-port Home Theater and Gaming Network Switch (GS605AV) will be available in March 2010 via leading retailers, direct marketers, e-commerce sites, and value-added resellers. More information is at http://www.netgear.com/Products/Switches/DesktopSwitches/GS605av.aspx.
EMERGING TECHNOLOGIES FOR ENHANCING THE DIGITAL ENTERTAINMENT EXPERIENCE

At CES, NETGEAR is also demonstrating the newest and most innovative technologies that it is incorporating into new digital entertainment and connectivity products to be introduced to the market in 2010.
Enhancing SD to Near-HD

There has been an explosion in digital media, and online video viewing is more popular than ever. However, the quality of the majority of these online, user-generated videos is often sadly deficient. NETGEAR is incorporating new technologies into its products that transform standard-definition videos into near HD quality by enhancing contrasts and color, and reducing the graininess, mosquito noise and block artifacts.
Maintaining HD Quality over the Internet

A major challenge to playing HD videos from the Internet to the TV through the home router is the speed of the end-to-end broadband connection, since it is often limited and unpredictable. NETGEAR is incorporating new technology into upcoming products that can recover lost video packets that often occur over poor Internet connections, to make sure that the HD quality is retained. This technology can expand the bandwidth up to three times to support the bit streams that are needed for HD video.
Overcoming Challenges to Wireless Signal Strength

In the spring, NETGEAR will release a carrier-grade Wireless-N bridge that supercharges the existing home network to deliver multiple, jitter-free HD video and audio streams wirelessly throughout the home. The Wireless-N bridge connects to Ethernet-enabled home theater devices such as gaming consoles, Blu-ray players, TiVo HD, Slingbox™, Internet TVs, Apple® TV, NETGEAR Digital Entertainer products, NETGEAR Stora and more, to reliably stream HD-quality video from the network, Internet, or from an IPTV service provider. It combines 4x4 multiple-input, multiple-out (MIMO) antenna signal processing, real-time spectrum analysis and dynamic digital beam forming, in addition to using a low-interference 5GHz frequency band. It is designed to overcome the common problems of wireless signal strength and quality associated with areas of the home that are notoriously difficult to reach, often due to building construction materials such as stone or brick walls. Consumers can simply use the high performance bridge to avoid installing expensive structured wiring and running Ethernet cables.
About NETGEAR, Inc.

NETGEAR (NASDAQGM: NTGR) designs innovative, branded technology solutions that address the specific networking, storage, and security needs of Small- to Medium-sized Businesses (SMBs) and home users. The company offers an end-to-end networking product portfolio to enable users to share Internet access, peripherals, files, multimedia content, and applications among multiple computers and other Internet-enabled devices. Products are built on a variety of proven technologies such as wireless, Ethernet and powerline, with a focus on reliability and ease-of-use. NETGEAR products are sold in over 27,000 retail locations around the globe, and via more than 37,000 value-added resellers. The company's headquarters are in San Jose, Calif., with additional offices in 25 countries. NETGEAR is an ENERGY STAR™ partner. More information is available at http://www.netgear.com or by calling (408) 907-8000.Connect with NETGEAR at http://twitter.com/NETGEAR and http://www.facebook.com/netgear.

©2010. NETGEAR, Inc. NETGEAR, the NETGEAR logoand ReadyShare are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved.

Note: Maximum wireless signal rate derived from IEEE Standard 802.11 specifications. Actual data throughput will vary from maximum signal rates stipulated. Network conditions and environmental factors, including volume of network traffic, building materials and construction, and network overhead, lower actual data throughput rate.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.:

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning NETGEAR's business and the expected performance characteristics, specifications, reliability, market acceptance, market growth, specific uses, user feedback and market position of NETGEAR's products and technology are forward-looking statements within the meaning of the Safe Harbor. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: the actual price, performance and ease of use of NETGEAR's products may not meet the price, performance and ease of use requirements of customers; product performance may be adversely affected by real world operating conditions; failure of products may under certain circumstances cause permanent loss of end user data; new viruses or Internet threats may develop that challenge the effectiveness of security features in NETGEAR's products; the ability of NETGEAR to market and sell its products and technology; the impact and pricing of competing products; and the introduction of alternative technological solutions. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled Part II - Item 1A. Risk Factors," pages 36 through 50, in the Company's quarterly report on Form 10-Q for the fiscal third quarter ended September 27, 2009, filed with the Securities and Exchange Commission on November 6, 2009.NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Saturday, January 2, 2010

Asian Countries Agree to Pursue Treaty on Dry Ports to Promote Regional Integration

Transport Ministers Forum concludes first session at ESCAP in Bangkok

Transport ministers from across Asia have agreed to work on a treaty to promote the development of dry ports – inland transport and logistics hubs – to spur intraregional trade and growth.


The agreement came at the end of the first session of the Forum of Asian Ministers of Transport, which concluded today at the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok.

In the Bangkok Declaration on Transport Development in Asia, the ministers agreed to develop an intergovernmental agreement on dry ports to provide connectivity and integration of the Asian Highway and the Trans-Asian Railway networks, creating an international integrated intermodal transport and logistics system.

Under the auspices of ESCAP, countries in the region have already adopted two intergovernmental agreements - on the Asian Highway and the Trans-Asian Railway networks - to promote the development and standardization of 141,000 kilometers of roadways and 114,000 kilometers of railways, linking the continent with Europe and serving as arteries for international trade, especially for landlocked countries in the region.

Dry ports will play an important role in integrating modes of transport, reducing border crossing and transit delays, facilitating the use of energy-efficient and lower emission means of transport, and creating new clusters of economic growth and job creation in local areas.

The first session of the Forum brought together 27 countries in Asia. In his opening message on Monday, UN Secretary-General Ban Ki-moon stated that “enhanced regional connectivity is especially important” in addressing development issues.

In her opening address, Noeleen Heyzer, UN Under-Secretary-General and Executive Secretary of ESCAP, spoke of the vital role of the transport sector in providing physical connectivity required for promoting domestic demand and intraregional trade as new sources of growth.

“The economic crisis has shown that relying mainly on exports to western markets comes with inherent risks. Our region will need to diversify the drivers of growth. This must include strategies for promoting increased intra-regional trade and domestic consumption,” said Dr. Heyzer.

The Forum was created by member governments of ESCAP at their annual meeting last April. During the week-long session, delegates discussed issues pertaining to transport development in the region, including the implementation of the Busan Declaration on Transport Development in Asia and the Pacific, and the Regional Action Programme for Transport Development in Asia and the Pacific.

Tuesday, December 15, 2009

Investment-Grade Composite Spread Tightens To 209 Basis Points

Standard & Poor's investment-grade composite spread tightened yesterday to 209 basis points (bps), while its speculative-grade counterpart compressed to 653 bps. By rating, the 'AA' and 'A' spreads tightened one basis point each to 144 bps and 180 bps, respectively, and 'BBB' tightened 3 bps to 264 bps. The 'BB' spread tightened 5 bps to 484 bps, 'B' compressed 6 bps to 654 bps, and 'CCC' tightened 15 bps to 1,040 bps.

By industry, financial institutions, banks, and industrials tightened 4 bps each to 366 bps, 288 bps, and 336 bps, respectively. Utilities and telecommunications followed, tightening 2 bps each to 212 and 318 bps, respectively.

Despite material tightening since their record highs in December 2008, the speculative-grade spread remains range-bound within a default cycle, and the investment-grade spread continues to face pressure from financial institutions and banks. In addition, speculative-grade defaults continue to accelerate, as does the preponderance of credit downgrades. Because of these factors, we expect spreads to remain at their elevated levels for some time as investors, the credit markets, and the economy cautiously tread through the current recessionary period.

Saturday, November 21, 2009

NIIT Technologies partners with Hitachi Information Systems to offer Cloud computing services

NIIT Technologies Limited, a leading global IT solutions organisation announced its partnership with Hitachi Information Systems, Ltd, a leading provider of IT infrastructure services in Japan, to offer services in cloud computing.


Cloud Computing is an emerging megatrend which is standardized, IT capability delivered via the Internet in a pay-per-use and self-service manner. NIIT Technologies pursuing its non linear services model of business will be an early entrant in this space. Through this partnership NIIT Technologies and Hitachi Information Systems will provide unmatched value based on the strengths of both companies.

“Hitachi with its reliable and scalable infrastructure would own the cloud, while NIIT Technologies will harness it’s competencies and world class process capability in Remote Infrastructure Managed Services to operate the cloud” said Mr. Arvind Thakur, CEO, NIIT Technologies Ltd. “Together our customers will experience the highest quality of reliability, security and service” he added.

With Cloud Computing gaining impetus, both companies will be able to offer the complete portfolio of services around the cloud infrastructure to cater to the changing IT landscape.

“Abundant IT business experience of NIIT Technologies in global markets and Hitachi Information system's data center design & operational experience in Japanese market over many years are now united. This union will be used to provide advanced IT service in Asia.” said Mr. Iwao Hara, President and CEO, Hitachi Information Systems Ltd.

To begin with Hitachi Information Systems would leverage NIIT Technologies data centre in Bangkok and create the first hub outside Japan networked to their existing infrastructure. Drawing on the benefits of scale, shared infrastructure and standard applications, this partnership will drive down costs while increasing the speed and agility of deploying applications.
The operations are expected to begin by the first quarter of the next fiscal.

SC Asset launched 3 new projects in Q4 Y2009 and its “SC Parade” the privilege campaign to be held on November 2009.

SC Assets announced its latest investment of over 1,300 million Baht to develop 3 new high-end projects , for serve the housing demand in 4Q Y2009. The three new 2009 series are “Bangkok Boulevard Kaset-Navamintra”, a luxurious 3-story detached housing project; “Life Bangkok Boulevard Ratchavipha”, a stylish 2-story detached housing project; and “Work Place Ratchada-Ramindra”, a special-designed home office project. In addition, it will also launch “SC Parade” the privilege marketing campaign on November 8, 2009, which is expected the total sales revenue of more than 300 million Baht.


Mr. Kree Dejchai, Chief Operating Officer, SC Asset Corporation Pcl.,discloses about the company’s project development plan in Q4 Y2009 that SC Asset will continually plan new project developments in accordance with its 2009 operating plan. Highlights will mainly be with projects on high potential locations in all market segments, including high rise and low rise. The company has a plan to launch 3 new projects with a combined value of over 1,300 million Baht.

1.“Bangkok Boulevard Kaset-Navamindra”, The luxurious 3-story detached housing project, which is located on an 18-rai plot of land on Ladplakao Road, will have a combined value of 740 million Baht. Developed under “Modern City Resort Style” concept to allow its urban residents to stay closer to the nature, the project will have only 74 units. With a starting price of only 10.9 million Baht, each unit will have four bedrooms, 5 restrooms, green room and family room to serve the lifestyle of each family member – all within a combined usable area of approximately 260 SQM. The project is most outstanding in its prime location, which is right on main road and well connected to various routes, e.g. Ramindra, Kaset-Navamindra and Paholyothin. It is fully equipped with basic facilities and infrastructure, swimming pool, Wi Fi fitness center and safe with triple security system.

2.“Life Bangkok Boulevard Ratchavipha”, The stylish 2-story detached housing project, which is outstandingly located on a 16-rai plot of land right on Pibulsongkram Road, will have a combined value of 450 million Baht. Developed under “Modern Life in Urban Natural” concept, the project will have only 69 units. With a price range of 5.9 – 8 million Baht, each unit will have 3 bedrooms, 3 restrooms, living room, dinning room and separate drawing room, all within an area of 50 square Wah onwards. Designed to be airy and spacious, all units will come with curtain wall windows to allow its residents to absorb a full natural feeling of its landscape. Project facilities include a luxurious club house, swimming pool, green garden and Wi Fi fitness center.

3.“Work Place Ratchada-Ramindra” , The luxurious home office is the only project of its exclusive in Ratchada-Ramindra, which is Bangkok’s top potential location and future business center. Located on a 4-rai plot of land right on main road, it will have only 20 units and a combined value of 180 million Baht. With a starting price as low as 8 million Baht, this 4-story home office will be 6 meters wide. Designed to be both airy and spacious in order to maximize its business potentials, it is, however, planned in a Privacy Cluster Zone to optimize privacy. With a common parking lot able to accommodate 50+ cars, the project is safe and sound with access card control system. It is conveniently networked with many main routes, e.g. Kaset-Navamindra, Ramindra, Sukapiban 1-2, West Outer Ring Road and Ekamai-Ramindra Express Way.

Besides the three new projects launching, SC Asset will be held the marketing activities in order to stimulate consumer purchasing power. It is launching “SC Parade” campaign on November 8, 2009, which is a complete showcase of its eight quality projects featuring detached houses, townhomes, and condominium. These projects, which will either open its new phases or new designs and functions, will be accompanied by very privilege offers namely “SC Package to visit the 8 Wonders of the World” The campaign is forecasted to generate many visitors and the total sales revenue of over 300 million Baht.

The eight quality projects include (1) Grand Bangkok Boulevard Ratchada-Ramindra with prices ranging from 15 – 25 million Baht (2) Bangkok Boulevard Rajapruek-Rama V with prices ranging from 17 – 30 million Baht (3) Life Bangkok Boulevard Petchkasem 81 with starting price of 5 million Baht, (4) Vista Avenue Petchkasem 81, 2-story townhome with starting price of 2.4 million Baht (5) Vista Avenue Petchkasem 81, 3-story townhome with starting price of 2.99 million Baht (6) Vista Park Changwattna, 3-story townhome with starting price of 3.99 million Baht (7) Centric Scene Ratchavipha, newly conceptualized condominium with prices ranging from 2.5 – 5.55 million Baht and (8) Centric Scene Sukhumvit 64 with starting price of 2.8 million Baht.

Mr. Kree Dejchai further adds that as all projects, launched within the year, have been well achieved which is quite confident that the market would warmly welcome the three new projects as it had in the past. With outstandingly new designs and functions, high potential locations, competitive prices, rising demands, as well as the project’s value-for-money offering, it is expected that the new 2009 series would deliver satisfactory result and that the company would achieve its projected plan and targets.

Thursday, November 12, 2009

Stoppage hits Glow's Q3

       The SET-listed power producer Glow Energy saw earnings slow in the third quarter due to a one-month maintenance closure of one of its plants.
       Two factors caused its normalised net profit to drop to 899 million baht in the third quarter, down by 274 million from the second quarter, the company said in its statement.
       Reduced power output due to a onemonth maintenance closure at its 150 MW coal-fired station affected te thirdquarter performance.
       The quarter's results also weakened as Glow had not booked the business interruption liability for a stoppage earlier this year at the 150 MW station.
       Output is expected to return to normal in the final quarter as there are no more major maintenance stoppages scheduled until late 2011. The company also plans to book the remaining business inter-ruption claim of more than 100 million baht in the fourth quarter.
       Glow reported sales of 26.6 billion baht over the first nine months, up 3.3%year-on-year from 25.7 billion. But its net profit fell by 5% from the same period last year to 3.04 billion baht.
       Chief executive Esa Heikanen said higher interest payments of 705.5 million baht, up from 605 million last year, from increasing project finance caused the weaker performance. Fuel costs also rose by 2.8% for natural gas and 1.8% for coal.
       However, Mr Heikanen said that performance declined at a slower pace than the rise in costs, thanks to revitalised sales to industrial customers.
       Shares of Glow closed yesterday on the Stock Exchange of Thailand at 33 baht, up 3 baht, in trade worth 41.53 million baht.