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Wednesday, September 9, 1998

World Briefing 

 
CNAC-Zhejiang Airlines credit deal: Barclays Bank Plc said it had signed a $63.75 million export credit finance lease facility as part of a $95 million lease facility to CNAC-Zhejiang Airlines to finance the acquisition of two Airbus A320-200 aircraft. The facility comprises a $63.75 million export finance lease guaranteed by the Industrial and Commercial Bank of China (ICBC), and a commercial loan in renminbi (RMB) equivalent to $31.25 million provided by the ICBC Zhejiang Provincial branch. CNAC-Zhejiang Airlines is owned by China National AviationCorp. The delivery of the first of two Airbus aircraft will be made at the end of September in France. The second will be delivered in December. Barclays Bank is the agent bank and also the lead manager for the UK and French portions of the export finance lease. ICBC and Standard Chartered Bank are co-arrangers.

SIG sees 1998 net profit rising: SIG Schweizerische Industrie-Gesellschaft Holding AG said it expected group net profit to rise in 1998,but not by as much as it had in 1997. "The positive trend for group results should continue," it said in a letter to shareholders that showed net profit rose 31.4 per cent in the first half to 46 million Swiss francs ($32.65 million). "But in contrast to operating profit, weaker growth than last year is expected by year's end because of the negative financial results," it said. It was not more specific.

Landis H1 net profit 4.6 million: Newly-floated Dutch technology firm Landis Group said its first-half net profit rose 2.5 per cent to 4.6 million guilders ($2.34 million). Landis said it expected a significant rise in turnover and netprofit for the second half of 1998. "Barring unforeseen circumstances for the full year of 1998 turnover and net profit, the board expects turnover and net profit to rise substantially higher than the earlier forecast doubling of results," the company said in statement. Landis said the new listing on the Amsterdam Exchanges partly contributed to rapid growth in the firstsix months.

Konecranes wins FIM 29m unloader deal: Finnish cranes group Konecranes said on Tuesday it had won an order for a grab-type unloader to the municipal Port in the city of Pori on the West coast of Finland. Deliveries of the unloader would begin in autumn 1999 and the deal was worth 29 million markka ($5.32 million), it said in a statement. Pori would finance the deal through a leasing arrangement with Handelsbanken, it said.

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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