Ascent Media Corporation Announces Financial Results for Quarter Ended September 30, 2009 Nov 14, 2009
For the next twelve months, Ascent Media expects to have sufficient available cash and cash equivalents and net cash from AMGs operating activities to meet working capital needs and capital expenditure requirements ... Ascent Media believes that segment adjusted OIBDA is an important indicator of the operational strength and performance of its businesses, including each businesss ability to fund its ongoing capital expenditures and service any debt ... Capital expenditures. (Yahoo! Wire -- Entertainment News)
Bonds rejected, AAI may turn to FIs for Rs 1,200 cr Nov 14, 2009
Faced with revenue shortfall of about Rs 2,000 crore during the current fiscal due to a dip in air traffic and an increase in capital expenditure, the AAI is finding it difficult to fund its airport modernisation plans ... As the capital expenditure of the AAI has shot up over the last few years, the agency is facing a revenue shortfall of over Rs 5,100 crore for airport development during the Eleventh Five year Plan ending March 2012. (India Times)
Green Packet CEO says losses are short term Nov 13, 2009
To-date, the mobile broadband networking solutions provider has spent more than RM337mil in capital expenditure to develop its 4G business which is parked under Packet One Networks (M) Sdn Bhd (P1). Puan said the P1 planned to spend another RM650mil within the next two years to develop the network and enable it to provide up to 65% coverage of Peninsular Malaysias population by 2011. (The Star Online, Malaysia -- Business)
Australian Job Gain Backs Stevens's `Two-Speed' Economic Growth Concern Nov 13, 2009
the worlds third-largest mining company, last month announced it will double capital expenditure in 2010 amid a rebound in prices for commodities. Construction on the Gorgon gas venture, jointly owned by Chevron, Exxon Mobil Corp. and Royal Dutch Shell Plc will continue until 2014, when the first ship is expected to leave carrying liquefied natural gas. (Bloomberg -- Australia & New Zealand)
Nigeria: 'Deregulation May Not Lead to Fuel Prike Hike' Nov 12, 2009
"A key consequence of regulation is the high level of subsidy by the Federal Government of Nigeria. The subsidy level was about N655 billion in 2008, equivalent to one and a half times the size of the Federal Government capital expenditure, pointing to the unsustainability of the existing framework," he said. Yesterday's meeting in Abuja between government and government commenced three hours behind schedule owing to the meeting of the Federal Executive Council (FEC). (allAfrica.com)
Telco misses out in attempt to sell network to NBN Nov 12, 2009
One well-placed source said TransACT had tried unsuccessfully for some time to offload its network, but that parts of it were ageing and required significant capital expenditure. TransACT chief executive Ivan Slavich refused to comment on negotiations with NBN Co, citing confidentiality concerns, and vigorously disputed claims about the company's network, which he described as ''robust. (Sydney Morning Herald -- Business)
SP AusNet sticks to guidance after profit boost Nov 12, 2009
"New windfarm and gas fired generation connections on the transmission network will also ensure growth in SP AusNet's asset base. "SP AusNet is on target to meet FY10 guidance of around an 18 per cent increase in capital expenditure. " AAP Join the conversation You're the only person reading this now. . . Top Business articles Business Topics (2649) (436) (304) (303) (278) (248) (244) (238) (175) (165) (155) (131) (109) (102) (77) (76) (67) (65) (63) (58) (58) (57) (54) (53) (53) (51) (51) (49)... (Sydney Morning Herald -- Business)
BioExx Submits Patent Application to Produce Protein Concentrates from Toasted Meal Nov 12, 2009
Licensing in this manner is also intended to enable deployment and revenue generation without any significant additional capital expenditure by BioExx. "While we are very excited about this new development, we have no intention of letting it impair our very strong progress or our timetable for protein isolate production in Saskatoon. Given that our team was able to complete this project in less than six months and at minimal cost, we see it as indicative of the broad reach of potential... (CCNMatthews Press Releases)
Kencana proposes rights, bonus issues Nov 12, 2009
The rights issue is estimated to raise up to RM185mil in proceeds, which will be used for capital expenditure, investment, expansion, working capital and repayment of bank borrowings. The oil and gas company also proposed to provide financial assistance in the form of securities for the facility taken by 25% associate Mermaid Kencana Rig 1 Pte Ltd.. (The Star Online, Malaysia -- Business)
Target approves East Liberty location Nov 12, 2009
Target's capital expenditure committee signed off on the project Tuesday, the last internal step needed before the retailer could move ahead with construction of the store ... Hadley Barrows, a Target spokeswoman, would neither confirm nor deny the capital expenditure committee approval but said the retailer was "excited about the possibility of bringing a new store" to East Liberty, adding that it was "committed to the area.". (Pittsburgh Post-Gazette, PA)
AB InBev makes $1.55B in Q3, revenue down 10 pct Nov 12, 2009
The company says it has also shaved at least $1 billion from capital expenditure from a year ago. Paying off debt is still a priority, the company said, warning that it is still "selectively evaluating noncore assets" that could be sold off. (WCAX.com, VT)
T T Mohan: Disinvest for governance Nov 12, 2009
The proceeds from the divestment will be used for capital expenditure in social sector programmes. To that extent, budgetary allocations for the social sector can be reduced. (India Times)
Syarikat Takaful keen to tap Middle East market Nov 11, 2009
This will be the most efficient and economical way to reach out to the market without having to incur any major capital expenditure, he said. The company currently holds 40% of the takaful market and it aims to improve it to 50% in the next two to three years. (The Star Online, Malaysia -- Business)
Vodafone's India revenues dip 7% Nov 11, 2009
"During this phase of Indian market development, we will focus on leveraging Vodafone's brand, scale and cost-efficiency and disciplined capital expenditure. Economic prospects for India remain attractive and in the medium-term, in-market consolidation should improve returns. Vodafone is well-positioned to benefit from the long-term opportunity in India," the company added in a statement. Read business stories in. (India Times)
Spar annual profits up, sees challenging 2010 Nov 11, 2009
"Cash generation is forecast to improve as capital expenditure reduces and the dividend cover is maintained," it said, adding that where appropriate, surplus cash would be utilised to buy back shares. South African retailers have faced tough trading conditions as consumers rein in spending due to a recession in Africa's biggest economy. (Business Report, South Africa)
MRCB: Right time to make rights issue Nov 10, 2009
As RM380mil or 67% of the rights proceeds is allocated for capital expenditure (capex), the rights issue would bolster MCRBs balance sheet and allow it to participate in the Federal Governments plans to sell or co-develop its prized landbank. Recall that Budget 2010 singled out two plots of land for such purposes 100 acres in Jalan Cochrane, near Maluri Cheras, Kuala Lumpur city centre (market rate of RM100RM150 per sq ft) and 2,000 acres in Rubber Research Institute of Malaysia in Sg... (The Star Online, Malaysia -- Business)
Comment: Full Steam Ahead Nov 9, 2009
It's estimated that nearly all of social sector capital expenditure this fiscal could be met this way. With a food security law and urban job guarantee set to add to the fiscal burden of ongoing commitments like NREGS or rural health, the policy shift is wise. (India Times, India)
Budget 2010: Seeing green Nov 9, 2009
First, building owners or developers obtaining the GBI certification between Oct 24, 2009 and Dec 31, 2014 will be given income tax exemption equivalent to the additional capital expenditure in obtaining the certificate ... Such additional capital expenditure will then save the building owner in long-term operational expenditure as the cost of running the building will be cheaper ... To this cause, it would be appropriate for the architects or quantity surveyors of the project to cost out this... (The Star Online, Malaysia -- Business)
P1 to set aside up to RM300mil for capex Nov 7, 2009
PETALING JAYA: Packet One Networks (Malaysia) Sdn Bhd (P1) plans to allocate RM200mil to RM300mil for capital expenditure (capex) next year to expand its coverage, which will include Sabah and Sarawak, chief executive officer Michael Lai said. He said P1 had spent RM300mil over the past 13 months to roll out its WiMAX (Worldwide Interoperability for Microwave Access) programme and was on track to achieve network coverage of 45% of Peninsular Malaysias population by 2010, and 65% by 2012. (The Star Online, Malaysia -- Business)
Welcome move Nov 7, 2009
The decision to use divestment proceeds for capital expenditure, rather than to accumulate in the so-called National Investment Fund is welcome, although there is no valid reason to restrict such investment to the social sectors. The goal of increasing shareholding among citizens would be better served if the government allots a large proportion of public enterprises public offerings to retail investors, perhaps at a discount to the price at which the shares are offered to foreign investors,... (India Times)
Tata Tele to raise $ 250 million Nov 6, 2009
The positive market response to the company's offerings in an extremely competitive and volatile market could require advancement of planned capital expenditure. "Our capital expenditure for this year was in excess of Rs 1,000-crore, which was already spent. Thanks to the response to our GSM plan, we have advanced Q4 capex to Q3. Towards the end of Q3, we should be in a position to take a decision on further capital expenditure plan," Rajan said. (India Times)
Govt okays up to 10% selloff in all PSUs making profit Nov 6, 2009
The Cabinet gave its consent on channelising the divestment proceeds into the National Investment Fund (NIF) and allowing the corpus generated after April 2009 till March 2012 to be available in full for investment as capital expenditure in specific social sector schemes. So far, the laid down guidelines debarred the government from funding its budget deficit using the corpus. (India Times, India -- Intl Business)
Selloff's back in biz: PM Flags off Divestment programme Nov 6, 2009
Close to Rs 5,000 crore, which the government raised through divestment of its stake in NHPC and Oil India, will now be going into capital expenditure on social sector schemes determined by Planning Commission and department of expenditure. Use of disinvestment proceeds would free up government resources to that extent or bring down its fiscal deficit in line with targets set in the road map. (India Times)
Govt to list all unlisted profit-making PSUs Nov 5, 2009
The minister further said the proceeds of the disinvestment would straight away go to meeting the capital expenditure of the government's social sector programmes, without being routed through National Investment Fund (NIF). In pursuance of its disinvestment programme, the government had offloaded its stake in Oil India Ltd and NHPC in the current fiscal. (India Times, India)
Deutsche Telekom Confirms Annual Targets; Third-Quarter Net Tops Estimate Nov 5, 2009
So far this year, it has spent about $3 billion on capital expenditure in the U.S. compared with $3. 6 billion spent there in 2008. (Bloomberg -- Germany)
Trico Reports Third Quarter Results -- Strength Continues in Subsea Services Businesses as Company Dramatically Improves Balance Sheet Nov 5, 2009
The terms of the high-yield note offering includes several partial pre-payment options as well; * Received proceeds from asset sales of approximately $40 million; * Obtained the right to cancel four newbuilds, reducing its capital expenditure obligation, net of refund guarantees, by approximately $100 million; and * Negotiated two working capital facilities totaling $58 million ... Pro-forma for the refinancing, the Company's cash and credit availability to fund capital expenditures is... (Primezone Releases)
Coca-Cola Amatil reports solid third-quarter revenue growth Nov 4, 2009
Capital expenditure in 2009 would be about 7. 5 per cent of revenue before CCA lifts capital expenditure in 2010 to 8. (Sydney Morning Herald -- Business)
Chiloquin mayor resigns, closes juniper businessMark Cobb said he can't afford mandatory fire safety improvements Nov 4, 2009
Kirk O wrote on Nov 3, 2009 1:16 PM:" In an area where local businesses are needed, local employers are sought (supposedly) and our communities are suffering... is this what we allow to happen?If there are funds, if there are community development processes... THESE are the situations that require focus. These are the areas where capital expenditure benefits a community, regardless of the arguments that would be launched against "assisting" an individual.This is the kind of thing we need to be... (Klamath Falls Herald & News, OR)
Fairborne Energy Ltd. Announces 2009 Third Quarter Financial and Operating Results Nov 4, 2009
Consistent with 2009, Fairborne's capital expenditure program in 2010 will be funded substantially within funds generated from operations ... We will continue to pursue a carefully designed capital expenditure program, including acquisitions and dispositions, which allow us to add production, reserves and cash flow in a cost effective manner while maintaining a level of flexibility in our balance sheet ... Management's assessment of future plans and operations, drilling plans and the timing... (CCNMatthews Press Releases)
Woodside again taps US bond market Nov 4, 2009
"Funds raised from the issuance will be used to repay short-term debt and for general corporate purposes including capital expenditure." ... "The sale of Otway ... will enable the company to reduce debt during the current period of high capital expenditure," broker Stock Resource said in a research note on Wednesday. (Sydney Morning Herald -- Business)
Swift, Petrohawk in shale joint venture Nov 3, 2009
Petrohawk (NYSE: HK) will pay about $26 million in cash to Swift (NYSE: SFY), and another $13 million in capital expenditure within the first year of the natural gas upstream joint venture. Both companies are based in Houston. (Houston Business Journal, TX)
GSMA Launches European Mobile Manifesto to Help Create a Prosperous, Green and Inclusive Europe Nov 3, 2009
Current estimates suggest that the mobile industry in Europe will deploy EUR145bn in capital expenditure through 2013, creating direct and indirect employment for more than 4. 7 million people. (Yahoo! Wire -- Entertainment News)
South Africa: Eskom Tariff Application in Spotlight Nov 3, 2009
The regulator also asked the public to comment on Eskom's assertion that its capital expenditure programme would lead to an average annual increase in operating expenditure of 12,7% in the next five years, starting in the 2010-11 financial year. Eskom has in the past come under fire for its handling of coal procurement as the utility has increasingly relied on coal bought through the more expensive short- term contracts. (allAfrica.com)
* Minister paints rosy picture for 2010 economic prospects Nov 2, 2009
These include a pledge to investors by Taiwan Semiconductor Manufacturing Co (xnq) chairman and CEO Morris Chang (i) that TSMC will increase capital expenditure next year. Other factors underlying Shihs optimism are the fourth-phase expansion of the Central Taiwan Science Park, which will begin soon after it passed an environmental impact assessment, and a potential breakthrough in Guoguang Petrochemicals NT$400 billion (US$12. (Taipei Times, Taiwan -- World)
Maiden meeting for Myer board after launch Nov 2, 2009
MYER will hold its maiden board meeting as a public company today, when management will present strategies for the crucial Christmas trading period as well as provide an update to directors on the $95 million roll-out of new point-of-sale technology and other big-ticket capital expenditure items. The expected three-hour gathering will follow Myer's listing on the Australian Securities Exchange at noon when the biggest float in nearly three years is officially launched by Myer chief executive... (Sydney Morning Herald -- Business)
RComm Q2 net plunges more than half Nov 1, 2009
It has said capital expenditure for the year to March would be lower by a third from its previous guidance. The company's shares have fallen about 43% in October in face of the price war. (India Times, India)
World's Largest Cruise Ship Sets Sail Oct 31, 2009
This ship is a (large) capital expenditure that is expected to bring in billions over the course of its lifetime. There is very high global demand for cruises, and companies like RCL are catering to that demand very effectively. (CBS News)
Samsung triples Q3 profit on better chip ASPs Oct 31, 2009
Samsung said it expects consolidated capital expenditure for 2009 to reach 7 trillion won ($5. 9 billion), including 4 trillion for semiconductor and 2 trillion for LCD, more than initially planned. (EETimes)
Kelington to expand gas, chemical delivery in China and Taiwan Oct 31, 2009
76mil for the listing exercise, RM500,000 for capital expenditure and RM250,000 for research and development. Kelington, established in 2000, currently has a cash pile of RM20mil. (The Star Online, Malaysia -- Business)
Malaysias green energy gap Oct 31, 2009
Meanwhile, the Government has earmarked RM5bil under the Budget 2010 as the capital expenditure for TNB to implement electricity generation, transmission and distribution projects next year. The allocation includes spending for TNB s hydroelectric projects in Ulu Jelai and Hulu Terengganu. (The Star Online, Malaysia -- Business)
Samsung Q3 Net Profit Soars; Positive Q4 Outlook Oct 31, 2009
The company also said it expects consolidated capital expenditure for the whole year of 2009 to reach KRW7 trillion, including KRW4 trillion for its chip business and KRW2 trillion for LCDs. The company said it expects to increase capital expenditure further in 2010, with more than KRW5. (SmartMoney)
* Rio Tinto doubles capital spending, net debt declines Oct 31, 2009
Rio Tinto Group, the worlds third-largest mining company, will double capital expenditure next year after cutting net debt by 42 percent in the first nine months of this year, the company said in a statement yesterday. Spending will rise to between US$5 billion and US$6 billion, up from previous guidance of US$2. (Taipei Times, Taiwan -- World)
Nomura expects earnings upgrades to continue Oct 30, 2009
Apart from the strong recovery in 00004000 the industrial and capital expenditure cycles, the growth in profits should also be aided by the favourable base effect in the coming quarters, Nomura said in a report which takes a first look at earnings. A sample of 139 companies from the BSE 500 index that have reported 2Q FY10 results thus far reveals that net sales have increased by 3. (India Times)
Maxis needs to invest further in Internet technology Oct 30, 2009
Lau said capital expenditure in the Internet was something which keeps on increasing but Maxis has not fully invested in the technology space. "The potential is there. It depends on the investment strategy and how the company manages the cost of capital and returns on equity," he said. (The Star Online, Malaysia -- Business)
Buttonwood: Bribing the markets Oct 30, 2009
Consumers delay their spending plans; companies halt their capital expenditure. In Keynes s words, animal spirits are depressed. (The Economist)
Analysis: SABMiller gives new meaning to home-brewing in Africa Oct 30, 2009
SABMiller's multibillion-rand capital expenditure programme is an ambitious attempt to formalise this market. Much of its marketing efforts, at individual country level, attempt to draw low-income consumers who are traditionally home-brew drinkers into consumption of "affordable" lager beer. (Business Report, South Africa)
Kellington Group wants to expand overseas market Oct 30, 2009
50 million for capital expenditure, RM0. 25 million for research and development (Rd the balance of RM1. (The Star Online, Malaysia)
Bring back class to trains Oct 29, 2009
If construction started in each city centre, one could use the commuter revenue to help offset the capital expenditure for the construction of the bits in between capital centres, slowly extending services as new line construction is completed while having a increasing flow of revenue. The three State rail operators; CountryLink, QR and V/Line could form a joint business entity to run and market the line. (Sydney Morning Herald -- Opinion)
GAIL net slips 30%, to raise Rs 500 crore Oct 29, 2009
NEW DELHI: GAIL will raise Rs 500 crore through bonds in December to fund capital expenditure, even as falling margins on petrochemicals and liquid hydrocarbons combined with subsidy burden squeezed the state-run gas utility's net by 30% in the second quarter ... GAIL will raise Rs 500 crore through bonds in December to fund capital expenditure, even as falling margins on petrochemicals and liquid hydrocarbons combined with subsidy burden squeezed the state-run gas utility's net by 30% in the... (India Times, India -- Intl Business)
3G fee to get capital assets status, linked tax incentives Oct 29, 2009
When contacted, a top DoT official said that the finmin had indicated that it was favourable towards treating the winning bid amount as capital expenditure. We are yet to get an official communication from the finmin stating that this proposal has been cleared, the DoT official added. (India Times)
Softbank Second-Quarter Profit Doubles on Mobile-Phone Subscriber Growth Oct 29, 2009
The company raised its annual capital expenditure plan to 260 billion yen from the 220 billion yen previously budgeted. closed at 2,100 yen on the Tokyo Stock Exchange prior to the earnings announcement, unchanged from yesterday. (Bloomberg -- Japan)
Digi raises the ante Oct 29, 2009
Such funds will be used for capital expenditure and repayments to shareholders ... DiGi estimates it will spend around RM700mil in capital expenditure this year, with the bulk of this on its 3G network. (The Star Online, Malaysia -- Business)
OceanaGold Third Quarter 2009 Management Discussion & Analysis Oct 29, 2009
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICE. MELBOURNE, Australia, Oct. 29 /CNW. (Canada Newswire)
* Outlook upbeat for chip testers, Siliconware says Oct 29, 2009
To cope with the rising demand from clients, Siliconware Precision is expected to put in capital expenditure of NT$10 billion (US$300 million) next year in expanding facilities and purchasing new equipment. The figure is up from this years estimated NT$5. (Taipei Times, Taiwan -- World)
Holliston voters OK money for computers, plows Oct 28, 2009
Some voters, however, questioned whether money from the town's capital expenditure fund should be used to make the purchases, given looming state aid cuts and the town's uncertain financial outlook ... Finance Committee member Jay Leary pointed out to residents that the capital expenditure fund, to which the town has traditionally deposited $350,000 per year, is separate from the operating budget ... Postponed a vote on whether to transfer funds into the capital expenditure fund. (Holliston Tab, MA)
BP earnings beat Wall Street forecasts Oct 28, 2009
The reductions appear not to be at the expense of investments, with BP hinting at higher than earlier indicated capital expenditure for this year. Cost cuttingRivals, including Shell, which reports on Thursday, have also put cost-cutting at the center of their strategy. (MSNBC -- Business)
PAAB seeks amicable understanding with Selangor water concessionaires Oct 27, 2009
Selangor had hoped to consolidate the water sector before handling over the assets to PAAB, which is tasked by the Federal Government to lead the nationwide water restructuring by taking over the water assets and funding for capital expenditure, hence allowing state water operators to focus on providing services. PAAB has so far completed the acquisitions in Negri Sembilan, Malacca and Johor, and is expected to reach a certain level of salient agreement with the other states in the country. (The Star Online, Malaysia -- Business)
Real property gains tax and green tech incentives Oct 27, 2009
As a measure to encourage the construction of buildings using green technology, it is proposed that the owners of buildings awarded the GBI certificate be given exemption equivalent to 100% of the additional capital expenditure incurred to obtain the GBI certificate. This incentive is applicable on new buildings and upgrading of existing buildings. (The Star Online, Malaysia -- Business)
Australia business confidence hits 7-year high Oct 27, 2009
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Tenaga Nasional projects better profit Oct 27, 2009
The company has forecast FY10 capital expenditure at RM4bil to RM5bil. TENAGA. (The Star Online, Malaysia -- Business)
Business confidence hits 7-year high Oct 27, 2009
"New data in this survey point to a significant jump in both near and long term business expectations - with longer term expectations, in particular, returning to around long run average levels, said NAB group chief economist Alan Oster in statement. Overall business conditions also continued to improve, although at a more subdued pace. NAB's business conditions index grew 14 points to from a reading of negative 9 to a positive 5 as trading and profitability, and to a lesser extent... (Sydney Morning Herald -- Business)
* Business Quick Take Oct 25, 2009
ELECTRONICS ASE may lift expenditures Advanced Semiconductor Engineering Inc (ASE, b), the worlds biggest chip packaging and testing company, may raise its capital expenditure to US$400 million next year because of demand from clients such as Taiwan Semiconductor Manufacturing Co (xnq), the Chinese-language Commercial Times reported, without saying where it got its information. Siliconware Precision Industries Co (~K), the second-biggest chip packager and tester, will... (Taipei Times, Taiwan -- Sports)
Reason behind India's lowest telecom tariffs in the world Oct 25, 2009
Outsourcing allowed for conversion of capital expenditure (capex) model into an operational expenditure model (opex). This allowed operators to align costs on a per minute revenue model, he rationalises. (India Times)
Property gains tax makes comeback Oct 24, 2009
Meanwhile, to encourage green technology in the property sector, building owners obtaining Green Building Index (GBI) Certificates from Oct 24 until Dec 31 will be given income tax exemption equivalent to the additional capital expenditure in obtaining such certificates. Those purchasing buildings with GBI certificates from developers will be given stamp duty exemption on instruments of transfer of ownership. (The Star Online, Malaysia -- Business)
New technology making a name for oil & gas supply company Oct 24, 2009
Traditionally, these fields would require the use of a jack-up rig, a wellhead platform, a mobile offshore production unit (MOPU) and a floating, storage and offloading vessel (FSO), incurring capital expenditure (capex) of at least US$100mil, and if recoverable reserves of oil is found to be inadequate to continue production, the capex will have to be written off. With the MOPSU, the field concessionaire has total control over the field as the unit can be used for well appraisal, extended well... (The Star Online, Malaysia -- Business)
