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Monday 8 November 8:20 AM
Briefing - Asia Joint Ventures - Nov 8, 2004An executive briefing on joint ventures for Nov 8, 2004, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities. BP, CHINESE FIRMS TO JOINTLY INVEST IN OVERSEAS OIL RESERVES BEIJING - BP, the world's largest oil firm, is seeking to jointly tap oil and gas reserves with Chinese companies in foreign countries, betting on China's emerging clout in the global oil market to bring it windfalls. The move also represents a new philosophy for China to safeguard its long-term stable energy supply. By linking with BP which controls sprawling reserves from Alaska to Azerbaijan, Beijing hopes to reduce the risks in overseas expansion and increase its say in the world energy market. HONDA TO SET UP ANOTHER PLANT IN CHINA GUANGZHOU - Honda Motor Co. (TSE:7267) aims to double its car production capacity in China to around 530,000 units by 2006 by building another factory and expanding the manufacturing capacity at one of its joint venture companies, The Nihon Keizai Shimbun learned Sunday. The new plant will be constructed by the company's joint venture in Guangzhou, Guangdong Province. SHOWA DENKO TO MAKE CAR A/C HEAT EXCHANGERS IN CHINA TOKYO - Showa Denko KK (TSE:4004) has bought into a Chinese firm to begin production of heat exchangers for car air-conditioners in China. The company has invested some 300 million yen (US$2.8 million) to acquire a 35 per cent stake in Grand Ocean Auto Air Conditioning Engineering (Dalian) Co., purchasing part of the shares owned by the firm's two main shareholders, Grand Ocean Manufacturing Co. of Hong Kong and Dalian Refrigeration Co. DOCOMO, MITSUI PARTNER TO PROVIDE I-MODE TECHNOLOGY ABROAD SYDNEY - NTT DoCoMo Inc. (TSE:9437) and Mitsui & Co. (TSE:8031) have teamed up to offer i-mode Internet access service technology to foreign companies. As the first phase of this alliance, they will supply technology to Telstra Corp. (ASX:TLS), Australia's largest telecommunications firm. GLAXO OPEN TO PARTNERSHIP WITH MORE INDIAN COMPANIES NEW DELHI - Following its tie-up with Ranbaxy (BSE:RANB), pharma major GlaxoSmithKline said on Friday it was open to partnership with other Indian companies in the field of drug discovery and development, but it must be allowed to import molecules for research. "We are looking at other tie-ups. We have a few targets in mind as India offers not only low-cost research but also high quality work," Tachi Yamada, Chairman and Head (R&D), GlaxoSmithKline, said. GOLD AURA SECURES EXPLORATION PERMITS IN CHINA PERTH - Junior explorer Gold Aura Ltd (ASX:GOA) said today it has secured two exploration permits in north-western China. The permits are effective for 12 months and can be extended for a further year. (C) Asia Pulse Pte Ltd. CONTACT: Asia Pulse Production Centre Phone: (612) 9322 8634 Fax: (612) 9322 8639 http://www.asiapulse.com ASIA PULSE
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