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	January 22, 1999	atimes.com

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BUSINESS IN ASIA TODAY

Sweden's Skansa plans $2.4bn projects in India
NEW DELHI - Skansa International Civil Engineering AB, the $U.S.8 billion Swedish construction giant, has lined up 12 infrastructure projects worth Rs 100 billion ($2.4 billion) and is likely to to set up an Indian subsidiary. Half of the projects are in the hydroelectric sector, while the rest are a mix of roads, bridges, harbors and metro projects, Skansa's regional manager for South Asia, Ragnar Udo, said.

Korea Life, MetLife close to $1bn equity deal
SEOUL - Korea Life Insurance said Thursday that it expects to sign a contract with MetLife of the United States for an equity investment of $1 billion by next week. The two signed a memorandum in June last year. MetLife is asking for a stake of more than 60 percent and managerial control while Korea Life insists on a 50:50 split. Korea Life, however, said they will be able to reach some kind of agreement.

Japan's Daido Mutual to buy LTCB investment trust unit
TOKYO - Daido Mutual Life Insurance Co. will buy LTCB Investment Management Co., the investment trust unit of the Long-Term Credit Bank of Japan, for 2.8 billion yen ($250 million), company sources said Thursday.The acquisition comes on the heels of an announcement Sunday that Daido Mutual has agreed on a broad-based alliance with Taiyo Mutual Life Insurance Co., aimed at strengthening its asset management capabilities. The Long-Term Credit Bank of Japan is currently under state control.

Intel to invest $100m in Samsung
SEOUL - Samsung Electronics Co. (KSE:05930) said Thursday that Intel Corp. will make equity investment by purchasing convertible bonds worth U.S.$100 million. Samsung and Intel of the U.S. signed a letter of intent and plan to draw up contract details by early next month. The two will link up to mass-produce Rambus DRAM series chips. Samsung is the world's largest DRAM supplier.

H-P China posts $860m in sales in '98
BEIJING - Hewlett-Packard (China), the first Sino-U.S. joint venture in electronics, totaled $860 million in sales income in 1998, the best performance since 1985, just after it was founded. Its 1998 output value topped $310 million and the amount of procurement in China also topped $1.2 billion.

Hyundai aims to lift Rambus DRAM sales to $400m
SEOUL - Hyundai Electronics Industries (KSE:00660) aims at boosting the sale of its next-generation memory chip Rambus DRAMs to $400 million this year, the company said Thursday. Hyundai will spend $170 million to complete the mass-production system for Rambus DRAMs.

Philippines to get new international airport
MANILA - President Joseph Estrada has unveiled an ambitious capital spending program in transportation and communications, including the construction of a new international airport. Estrada said a new, world-class international airport would be built at anappropriate site to decongest the existing Ninoy Aquino International Airport.

3M Korea claims solution to Y2K problem
SEOUL - 3M Korea has resolved the Y2K problem by setting its computers 28 years back, the company announced Wednesday. To address the millennium bug, the company applied what it calls the 28-year method, in which the year the computer recognizes is turned 28 years backward because the date, days of the week, and leap year are repeated in 28-year cycles. However, the monitor will nonetheless express the current year despite the change, according to the company.

(Asia Pulse)

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