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SCMP Reporter

global passenger and cargo traffic picks up

Global demand for business and leisure-class travel witnessed a mini-resurgence in February as airlines ignored the traditional slow season to post strong growth in both passenger and cargo services, according to the International Air Transport Association (Iata).

Passenger traffic for the month rose a comparative 6.8 per cent, while carriers plying Asia Pacific surpassed the global average by posting 7.3 per cent expansion year on year.

International cargo volumes grew 5.4 per cent for the month.

Iata last month decreased for the second time this quarter the amount it expected the industry to lose this year, estimating aggregate losses at US$2.2 billion. Russell Barling

tpv bullish on shipment of flat-panel tv sets

TPV Technology expected its shipment of liquid-crystal display (LCD) televisions to double to 40 million units this year.

LCD televisions would be the company's main growth driver this year, chairman and chief executive Jason Hsuan said after announcing the firm's net profit rose 44.39 per cent to US$149.58 million last year.

Mr Hsuan  projected the company's LCD television shipment would reach 51 million units next year.

TPV aims to become the mainland's second-largest LCD television provider, overtaking  Philips, in two years by boosting its market share to at least 28 per cent from  25 per cent.

Turnover jumped 35.19 per cent to US$5.05 billion.

Earnings per share were  9.9 cents,  up from  7.48 cents  in 2004.

The company recommended a final dividend of  two cents per share.   Andy Cheng

tom completes purchase of mainland ad venture

Tom Group  has completed the acquisition of a 48.5 per cent stake in joint venture China Popular Computer Week Management and the subscription of 0.97 per cent in the enlarged share capital of China Science Media.

The deal, first announced in September 2004, would see Tom pay a combined 209.48 million yuan in cash and control an effective 49 per cent in the  venture.

The joint venture distributes and sells advertisements for the Popular Computer Week magazine on the mainland.

The remaining 51 per cent is held by Popular Computer Group, which represents Chongqing-based Popular Computer Week Publishing House and its distributing and advertising arm, China Science.  Georgina Lee

drugmaker in talks on european partnership

Guangzhou Pharmaceutical  is  in talks  with  European drugmakers  about a partnership, but  it has not given a timetable for the deals.

The group  said its profit surge last year  was mainly attributable to its pharmaceutical  business, while  turnover  grew 17.7 per cent.

Turnover of the group's pharmaceutical manufacturing business last year increased 11.6 per cent to 2.42 billion yuan from 2004.

Profit before tax was 231 million yuan, a jump of 29.51 per cent.  Kandy Wong

tcl increases stake in research firm for us$12m

TCL Communication Technology Holdings is buying a 38.58 per cent stake in the research and development joint venture it formed with two other industry players for US$12.3 million.

After the acquisition, the mobile handset company will own 46.25 per cent of the venture, JDR Communication.

Group chief executive Liu Fei said the acquisition would provide synergy to TCL's own research and development programme and enhance product competitiveness.

For the first nine months of last year, TCL posted a net loss of $1.31 billion. But in the third quarter, the company reversed its  reliance on the counterfeit-laden mainland market, gaining 70 per cent of its sales from overseas markets, compared with just 31 per cent a year earlier.  Andy Cheng

cnooc in australian oil and gas exploration deal

CNOOC has signed an agreement with  BHP Billiton and the Australian exploration and production unit of United States-based Kerr-McGee to explore for oil and gas in waters about 300km offshore western Australia.

The area to be jointly explored covers 21,000 square kilometres, at water depth of  2,000 metres.

CNOOC has a 25 per cent working interest in the project, in which BHP Billiton is the operator.  Eric Ng



China energy giant CNOOC raises output targets and planned exploration spending as oil price recovers

ExxonMobil to build petrochemical complex in China’s Daya Bay development zone

CNOOC reports worst result since at least 2011

Husky and Primeline legal threats against CNOOC put spotlight on mainland China gas pricing dilemma   

China National Offshore Oil Corporation (Cnooc)

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