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	January 19, 1999	atimes.com

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BUSINESS IN ASIA TODAY

Ford to move regional HQ from Tokyo to Seoul
SEOUL - Ford Motor Co. will relocate its Asia-Pacific regional headquarters to Seoul by May, Ford Korea announced Thursday. The headquarters are currently located in Tokyo.

Korea's projected auto market growth was a key factor in the U.S. automaker's decision to move its regional office, the company said.

Soros to buy majority stake Seoul Securites
SEOUL - U.S. financier George Soros is expected to acquire a majority stake in Seoul Securities Co. (KSE:01200) within the next few days, according to sources at the Korean brokerage house Friday.

A high-level Seoul Securities source said that the securities firm is now engaged in last-minute negotiations over the stake ratio and investment method with the Soros-led Quantum Fund and that a settlement is expected by this weekend or early next week. Seoul Securities is affiliated with the Daelim Group with paid-in capital record of 95.1 billion won. It ranked 14th in the brokerage industry last year.

China plans to produce 10% more autos this year
China plans to produce 1.73 million automobiles in 1999, up 10.2% over 1998, according to the State Administration of the Machinery Industry.

Last year, China's output of automobiles was 1.6 million, 3% below target but on a par with 1997.

Sun Changji, deputy director of the administration, said China would draw up aseries of measures to stimulate the automobile market. They will includereforming the use of cars by government officials, encouraging loans to buy cars and cracking down on auto smuggling.

Malaysia's RHS opens research office in Bangkok
KUALA LUMPUR - Rashid Hussain Securities Bhd (RHS) announced Thursday it has officially opened a representative office in Bangkok which will provide a comprehensive package of equity and economic research products in Thailand.

RHS is a financial subsidiary of RHB Capital, the largest and leading integrated financial services group in Malaysia and a publicly listed company on the Kuala Lumpur Stock Exchange (KLSE). With Bangkok, the securities group now has research offices in five Asean markets.

Philippines reviews foreign air service agreements
MANILA - The Civil Aeronautics Board (CAB) has started reviewing the country's air service agreements with foreign airlines as well as their pending applications to increase flights to and from the country.

Franklin Ebdalin, one of theboard of directors of CAB, said that the board is taking steps to reform the national aviation industry by correcting mistakes of the previous CAB administration.

The previous CAB administration had indiscriminately permitted international carriers more flights using Manila as a stopover, beyond their entitled passenger rights, allowing foreign airlines to charge passengers "below cost" because these passengers were merely added revenue to the company, Ebdalin said.

World Bank to help finance Karachi port
KARACHI - The Karachi Port Trust has finalised a second 5-year plan with the World Bank for some US$350 million, which will enable it to expand its facilities and turn it into a modern port.

Sources here said that the World Bank would finance up to US$187 million, and the rest would be raised by the KPT itself. Karachi Port recently modernized its container facilities by building a new terminal, now considered the most modern in the region.

Korean shipbuilders aim for $10b in orders
SEOUL - South Korea's shipbuilding industry will for the first time try to achieve its target of securing US$10 billion worth of orders for new ships this year.

Industry sources saidFriday the Korean shipyards, led by Hyundai HeavyIndustries which has already built up enough order backlogs to last for the next two years, will strive for high value-added vessels such as offshore oil drilling rigs costing more than US$200 million, rather than commercial ships, to achieve the target.

(Asia Pulse)