Briefs

Fraser and Neave Holdings Bhd (F&N) expects to boost its bottle output by 40 per cent, or eight million cases annually, with the 
In a statement, chief executive officer Lim Yew Hoe said the line, operational since June, had an improved efficiency of 12.5per cent, giving better space utilisation and lower energy consumption.
“The line, named PET Line 12 Combi, inauguration of its RM45 million (Bt360 million) state-of-art bottle manufacturing line at its plant in Shah Alam, Selangor, Bernama reported.is fully-automated, by which the bottles are blown formed, filled and capped within an integrated system.
“The line is also capable of producing at high speed of 600 bottles per minute for 500-millilite beverages and 400 bpm for 1.5-litre beverages,” he said.
Lim said the line would put the company in a strong position to meet the demand for its beverages especially during the festive seasons.
“The automated line is a huge boost towards improving our |production efficiency and significantly reduces the group’s carbon footprint as well as pre-bottling storage as the bottles are blown |and formed in-situ,” he said. – The Star

Mazda car dealer seeks
1.24 bn pesos from IPO
Mazda car dealer Bermaz Auto Philippines Inc has filed an application to launch a P1.24-billion local stock market debut.
Based on its prospectus submitted to the Securities and Exchange Commission, Bermaz plans to sell through an initial public offering 155 million in primary and secondary common shares at a maximum price of P8 per share.
Bermaz, which is affiliated with Malaysian conglomerate Berjaya, has mandated MayBank ATR Kim Eng as its international and domestic lead manager and underwriter for this offering. Abacus Capital & Investment Corp acts as the domestic co-led underwriter.
Of the total offering, 83.43 million will consist of new common shares while 71.57 million will consist of secondary shares.
Net proceeds from the primary offering amounting to P667.4 million will be used to construct a warehouse, body repair and paint facility. The company will also allot some of the proceeds to establish a Mazda training facility for automotive repair and motor services and likewise construct Mazda showrooms and satellite outlets.
At least 108.5 million or 70 per cent of offer shares are being offered to institutional investors and the general public while 20 per cent of total will be set aside for trading participants (31 million) and 10 per cent for local small investors (15.5 million).
The company has a dividend |policy of distributing up to 40 per cent of prior year’s net income as |dividends, subject to the provision |of funds for business plans, operating expenses and other expansion projects. – The Philippines Daily Inquirer

Indonesia sees jump in
October palm oil exports
Indonesia saw the exports of its palm oil products, which include crude palm oil (CPO), biodiesel and oleochemical, increase by 34 per cent month-on-month to 2.45 million tonnes in October, thanks to rising demand from major export destinations. 
In September, the world’s largest producer of palm oil shipped 1.89 million tonnes of products overseas.
Indonesian Palm Oil Producers Association (GAPKI) executive director Fadhil Hasan said exports to India had increased by 31.64 percent month-on-month in October to 608,510 tonnes, while exports to China were slightly up by 2.17 per cent to 316,450 tonnes.
Exports to the European Union (EU) market, meanwhile, increased by 75.51 per cent mom to 380,150 tonnes, not long after France revoked their CPO multiple taxes plan.
“The traders took the chance to buy at cheaper prices, as they were anticipating a possible price hike| in November amid increasing demand ahead of Christmas and New Year,” Fadhil said in a statement. – The Jakarta Post