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Martin Sorrell and his vision of Asia

Sir Martin Sorrell, head of WPP Group Plc, was in Kuala Lumpur on Tuesday as part of a three-week visit to Asia. How he bought over Wire and Plastics Products (WPP), a maker of wire shopping carts, 18 years ago and turned it into the world's largest advertising and market services group is now textbook stuff taught in business schools. After doing a video conference with analysts in London on the group's third quarter results, Sir Martin sat down with WONG SULONG for an interview.


KL market appears poised for another surge

THE country's smooth leadership transition and the listing of Astro All Asia Networks plc next week could set the stage for another stock market surge similar to the one seen two weeks ago.


Goldman, HSBC woo Hutchison

Goldman Sachs Group Inc and HSBC Holdings Plc are among banks trying to persuade Hutchison Whampoa Ltd to sell bonds for a fifth time this year, each jostling to become the biggest arranger of Asian debt sales outside Japan.


Astro institutional tranche oversubscribed

The domestic institutional tranche of Astro All Asia Networks plc's initial public offering (IPO) is believed to be 15 times oversubscribed, with the bulk of the applications bidding at the higher end of the price range.


Foreign business news in brief

Foreign business news in brief: 'Japan external reserves hit new high', 'Goldman, Sumitomo setting up fund', and 'US$8b for BP Angolan oil sector'.


Retail portion of Astro IPO set at RM3.80

THE retail portion of Astro All Asia Networks plc's initial public offering has been priced at RM3.80 per share and is subject to a refund in the event the final retail price is less than that.


Astro IPO underwriting tomorrow

PAY-TV Astro, which turned in RM26.22mil in pre-tax profit for the first six months ended July after reporting losses for several years, is slated to hold its underwriting ceremony for its flotation exercise tomorrow.


US investment banks post strong Q3 profit increase

US investment banks Morgan Stanley and Lehman Brothers Holdings Inc have reported third-quarter profits that were more than double those a year ago, while earnings at rival Goldman Sachs Group Inc increased more modestly as revenue from bond trading fell sharply.


NYSE chief quits under fire

B>NEW YORK: /B>New York Stock Exchange (NYSE) chairman Richard Grasso has resigned in the face of a growing outcry among investors, regulators and top Wall Street companies over his US$140mil pay package.


Foreign busines news in brief

Foreign busines news in brief: 'FDI in China seen hitting US$57bil', 'AIG-led group seals Hanaro takeover', 'Goldman may beef up Taiwan ops'.