Foreign business news in brief

  • Business
  • Saturday, 15 Mar 2003

MELBOURNE: Australian brewer Lion Nathan Ltd is merging its ready-to-drink (RTD) arm Indio in a 50:50 joint venture with Bacardi-Martini to market, sell and distribute RTD and spirits brands in the country. 

Bacardi Lion, a joint venture with Bacardi-Martini’s Quality Brands International, is set to start trading within the next two months, and will distribute well-known spirits like Bacardi Carta Blanca rum, Bombay Sapphire Gin and Dewar’s Whiskey, as well as RTD cocktails like Bacardi Breezer, Bacardi and Cola, and Lion Nathan’s Citro and Kentucky Rebel. – Reuters 



TOKYO: Sony Corp’s game-console division plans to shift the entire production of its PlayStation2 (PS2) by next year to Chinese plants run by Taiwanese companies, Hon Hai Precision Industry Co Ltd and Asustek Computer Inc. 

“We are already manufacturing half of the PS2s in China at the moment,” said Sony Computer Entertainment spokeswoman Yoshiko Furusawa. “We are aiming to shift the entire production to China in the next business year...using the two Taiwanese companies.” – AFX 



HONG KONG: The privately-run Venetian Group, whose Galaxy Casino consortium is developing a HK$8.8bil gaming village in Macau, has ruled out a Hong Kong listing for the time being, the South China Morning Post reported. 

Venetian Macau marketing director Patricia Cheong was quoted as saying the group had no plan to go public at the moment, as its financial position was sufficiently strong to fund its Macau development. – AFX 



BEIJING: Wal-Mart Stores Inc, the world’s biggest chain retailer, plans to open a members-only bulk outlet, Sam’s Club, in Beijing in June, the China Daily reported. It said Sam’s Club would offer high volumes of around 4,000 types of goods at low prices for business and individual members. – AFX  

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