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News International M&A deal count increase for Asia
Recent reports show that Asia experienced a boost in M&A activity for the first time in months in October. The November edition of Robert W. Baird & Co.’s Global M&A Monthly Report shows that the deal count in Asia, excluding Japan,
increased on a year on year basis for the first time in eight months, rising by 1.4%. The report also states that ‘reported dollar volume climbed 37.1% to $26.7 billion, which was moderately above the LTM average’.
Baird states in the report that: “Better performance for the M&A market in Asia (excluding Japan) has coincided with recent improvement in economic data for China.”
L&T Construction Wins `1002 Cr Orders in Domestic & International Markets
L&T Construction has secured a slew of new orders valued over ` 1002 crores across various business segments in November and till date in December 2012.
Its Power Transmission & Distribution Business bagged orders worth ` 742 crores in domestic and international markets.
This includes a major order secured in Qatar for setting up of a 220 kV, 515 MVA cable system and for the construction of a 220/66/11 kV substation. L&T has established itself among the major players in the power transmission and distribution sector in the Gulf.
On the domestic front, the Company re-affirmed its
position as a leader in the ‘EPC’ (‘Engineering- Procurement-Construction’) space by winning an order from the Tamil Nadu Transmission Corporation for a 400/ 230-110 kV AIS substation at Kayathar, Thirunelveli and a 230/110 kV GIS Substation at Guindy, Chennai.
Another turnkey order received from the West Bengal State Electricity Transmission Company Limited involves construction of seven transmission lines of 220 kV and 132 KV at various locations in West Bengal.
In addition, L&T Construction has secured orders worth ` 260 crores from ongoing projects across various business units.
PetroChina Maintained Steady Production and Operations in the First Three Quarters of 2012
PetroChina Company
Limited recently announced that in the first three quarters of 2012, in light of the severe conditions caused by the weak global economic recovery and the slow-down in the demand for oil and petrochemical products and frequent natural disasters, the Company maintained steady production and operations, with key production indices at optimal levels compared to the same period last year. It managed to do so by assessing and analyzing
situations
scientifically, enhancing strategic planning, placing emphasis
on the
development of its oil and gas business and coordinating
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and balancing production, transmission, marketing, storage and trading operations.
In the first three quarters of 2012, the Company realized turnover of RMB1,598,269 million, representing an increase of 7.8% as compared with the same period last year. However, due to such factors as an increase in the amount of imported natural gas, the selling of imported natural gas in China at lower prices, and macroeconomic regulation and control over the prices of domestic refined oil products, the net profit attributable to the Company’s shareholders under the China Accounting Standards was
RMB86,954 million, representing a decrease of 15.9% as compared with the same period last year, with basic earnings per share of RMB0.48; net profit attributable
to the Company’s shareholders
under the International Financial
Reporting
Standards was RMB86,956 million, representing a decrease of 15.9% as compared with the same
period last year, with basic earnings per share of RMB0.48. Excluding the impacts of abnormal factors, the Company maintained a positive, healthy and efficient development trend.