Briefs, October 12, 2012

AIA confirms it is buying ING Malaysia

AIA, the third-largest Asia-based insurer, agreed to buy ING's insurance business in Malaysia for about €1.3 billion (HK$13 billion) in its largest acquisition as a listed company. The purchase will boost the percentage of profit AIA gets from Malaysia to 13 per cent from 8 per cent. Bloomberg

Sino-Japan row keeps passengers at home

The number of international passengers flying China Eastern Airlines fell 18 per cent to 641,340 last month from 783,240 in August amid a row between China and Japan over disputed islands in the East China Sea. The Shanghai-based carrier blamed the drop on weaker demand for travel to and from Japan. Charlotte So

Stokes throws weight behind Murdoch bid

News Corp's A$1.94 billion (HK$15.5 billion) offer for pay television company Consolidated Media Holdings gained Kerry Stokes' backing after the billionaire's Seven Group was blocked from bidding. Seven, which owns about 25 percent of Consolidated, said it "intends to vote in favour" of News Corp's bid, which billionaire James Packer, with a 50 per cent stake, has said he supports. Bloomberg

Geely's sales up by a third in September

Geely Automobile recorded a 33 per cent year-on-year rise in sales to 43,055 units last month, which was 43 per cent higher than in August. For the year's first nine months, sales totalled 323,938 units, up 11 per cent year on year, and represented 70 per cent of the carmaker's sales target of 460,000 for the full year. Eric Ng