Business Development Asia LLC
South East Asian Automotive News
ISSUE 2, AUGUST 1997
REGIONAL
A US$80m regional parts manufacturing JV was signed today to take advantage of AICO rules. The parties to the JV are: Thai Summit Autopart Industries, Oriental Summit Industries (of Malaysia), Amalmus Wibawa Agung and Timor Industri Komponen (both of Indonesia). (July 31st, 1997)
India - Fiat is seeking to acquire the 24% of Fiat Auto India which it does not already own, from India's Premier Automobiles, its current JV partner, which is controlled by the Doshi family. Fiat has asked local authorities for permission to become a 100% owner of the business. (July 29th, 1997)
India - VW is close to finalizing a deal with the West Indian state of Maharashtra to build a US$277m factory, its first in the country, to manufacture 65,000 cars per year. (July 28th, 1997)
Korea - Kia, announced that it will reduce its 28 subsidiaries to five, focusing solely on the auto-making business. The announcement coincided with a meeting of Kia's creditors to discuss the future of Kia's US$10.8bn of debt. Kia is currently building assembly plants in 16 countries including India and the Philippines, and it also has a technology transfer agreement with Timor, the Indonesian National Car Project. (July 31st, 1997)
Recent News: Indonesia, Thailand, Malaysia, Philippines, Vitenam, Singapore Focus: Making Investment Decisions in ASEAN
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