Icbccss&p500usd Discussion Threads

[ariane] 03/12/2004 13:17

COMPASS Says China Principal Driver of Growth

Compass Group has identified China as its principal driver of growth after reporting disappointing annual results. Michael Bailey, chief executive, said: 'In 20 years' time China will be the new America and our principal driver of growth. We are laying the foundations for the future.' The company's plans for China emerged after it reported a 2.4% fall in pre-tax profits to GBP645 million (USD1.15 billion) for the year to 30 September. Sales rose 4.3% to GBP11.8 billion (USD21.2 billion). China accounted for only about GBP30 million (USD53.8 million) of the sales compared with GBP3.5 billion (USD6.27 billion) in the company's biggest market, America. However, sales in China are growing by about 20%. In September, Compass issued a profits warning, citing four factors for the decline: the need to replace a main UK distributor that ran into financial trouble; losses from several school meals contracts; poor summer trading on the Continent; and start-up costs from in store restaurant contracts. Meanwhile, Compass has announced plans to open another six Marks & Spencer Simply Food outlets at its Moto motorway service stations in the UK. It hopes to roll out Simply Foods to more of its 47 motorway service areas over the next few years.

[ariane] 02/12/2004 10:25

PARIS (AFX) - Alcatel SA said its Shanghai Bell unit won a contract from
China Netcom Group to provide a third generation field trial network in Beijing.
It supplied a similar 3G trial for China Telecom earlier this year.
"This trial with China Netcom is a significant step for Alcatel in China
because it puts us in good position for 3G with both of China's two key
potential 3G operators," Alcatel said.
Financial terms were not disclosed.
[e-mail]
sr/jsa

[ariane] 02/12/2004 10:25

PARIS (AFX) - Alcatel SA said its Shanghai Bell unit won a contract from
China Netcom Group to provide a third generation field trial network in Beijing.
It supplied a similar 3G trial for China Telecom earlier this year.
"This trial with China Netcom is a significant step for Alcatel in China
because it puts us in good position for 3G with both of China's two key
potential 3G operators," Alcatel said.
Financial terms were not disclosed.
[e-mail]
sr/jsa

[ariane] 30/11/2004 19:27

RNS Number:8329F
Kingfisher PLC
30 November 2004


KINGFISHER PLC

Investor and Analyst visit to China
Wednesday 1 December and Thursday 2 December

Kingfisher plc is hosting a visit to China on Wednesday 1 and Thursday 2
December for investors and sell-side analysts.

The trip will include presentations on Kingfisher's international businesses in
China, Taiwan, Korea and Turkey, and on Kingfisher's Direct Sourcing operations.
Investors and analysts will also have the opportunity to visit B&Q China stores
in Shanghai.

This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCWUGPPGUPCGAU


Kingfisher(KGF) GB0033195214

[maywillow] 25/11/2004 14:35

B&Q planning growth in China

B&Q intends to open 13 branches in China by the end of 2005. More than half of them are to be built in Peking and in the coastal cities of Shanghai, Guangzhou and Shenzhen, according to a report by China Economic Net. The UK company intends to move into the central and western parts of the company (Chongqing, Xi'an and Chengdu). It is hoping for further growth potential in small and medium-sized cities as well, since China has committed itself to opening these up to foreign retail and wholesale businesses from 11 December as one condition of its WTO membership. B&Q intends to be represented by 80 outlets in 30 cities in China by the year 2009.




25 November 2004

[energyi] 23/11/2004 09:02

From Dead Reck:

"What's happening here in China is not a simple financial asset bubble. It's the emergence of hundreds of millions of people into the global marketplace as both consumers and producers. Look for China to unleash its dollar reserves on hard asset markets... well before the dollar itself starts declining again. And for truly long-term investors, anything that profits from the development of Chinese infrastructure, financial services, and health services is the best way to profit from development inside China.

"But that doesn't mean there isn't risk. The government is selling off assets because it needs money. And it needs money because the Chinese population is getting older. China has no meaningful pension system. U.N. population figures project that 13.5% of China's population will be over the age 65 by 2025. Doesn't sound so bad as a percentage. But with a projected population of 1.7 billion, that means China will have around 220 million senior citizens with no real social safety net. In other words, it will have a large nation of elderly people who need food and medical care. How will china deal with this problem?

There are no institutions to fill the void... not the state, which can't afford it. Not the Church, which doesn't exist in large enough numbers. And not the family, which was systematically eliminated by the one-child policy.

[the knowing] 15/11/2004 12:55

China's economy easing; no 'hard-landing' - PBoC governor

BEIJING (AFX) - Economic growth in China has moderated and the economy has
avoided a "hard-landing," the official China Securities Journal reported, citing
Zhou Xiaochuan, China's central bank governor.
"Currently, various indicators of Chinese monetary policies have reached
normal levels," Zhou, governor of the People's Bank of China (PBoC), was quoted
as saying by the newspaper.
"China's economy is growing rapidly, and the economy has not seen a 'hard
landing'," he added.
M2 money supply rose to 24.37 trln yuan at the end of October, up 13.5 pct
year-on-year, compared with a 13.9 pct rise in September.
M1, a narrower monetary measurement, grew 12.6 pct year-on-year to 9.08 trln
yuan at the end of last month. M0, which measures cash in circulation, rose 10
pct on a yearly basis to 2.01 trln yuan.
"China's policy towards the yuan's exchange rate is to basically stabilize
its value at a reasonable and balanced level," Zhou said, adding that the
country will continue to work towards a market-based exchange rate.
China has promised to "gradually" liberalize its forex control, but stressed
it needs more time to make full preparations.
(1 usd = 8.3 yuan)
[e-mail] ljl/ap/cas

[mart] 12/11/2004 12:50

Crikey McBean, see what you mean (26 print pages). Think I might have to read it with the help of an economics dictionary. I'm not cheered by it yet tho'.

[a.fewbob] 08/11/2004 21:43

Selling dollars and buying commodity stocks.

[hectorp] 08/11/2004 18:46

I hear China is selling dollars fast... peg to a Basket of Asian currencies.. i Know this is possible...

[hectorp] 08/11/2004 08:43

I've always expected China to retain strong Communist leanings in the seat of power. However I can't tell what their true philosophy now is.

At least they can keep tabs on N Korea, that and their relationship with Taiwan provide a metering tool to see what their true attitude might be to the West.
Of course I might be missing a revolution happening in the leadership mind-set... I cant tell.
As far as the US goes, they don't want to upset China at all, as it would spite their own trading needs. Of course everyone is inter-dependent.

[mcbeanburger] 07/11/2004 15:05

an intellecual read, I needed two passes..



give yourself time to read it all.

[theberg] 01/11/2004 19:34

Shoggoth/HectorP,

To me this is the key issue effecting China and what is going to happen this century.

It is called Energy and it is not going away.



Get this right and the investment potential could be billions, get it wrong and we are talking World War III.

[hectorp] 01/11/2004 09:17

I came to same conclusion about the US phsychology problem some years back. The have suffered this since when? winning WW2? anyhow, its stuck there.
But will Chian act maturely, or be reactionary to the US when the US is beligerent eg in the Mid East?
I infer, will China be a good trading
partner to the US , or play silly games of 'China Drean Century' ? Will China try to create Empire?

I suspect this is more likely than see China model itself on the American style Democracies. After all, they are seen to be failing their consumers!
Will we see another Pearl Harbour - largely of China or the US's making .

[theberg] 31/10/2004 14:48

Palcan Sells Fuel Cells to One of China's Largest Oil Companies
18 October 2004

Author:
Provider: Business Wire




VANCOUVER, British Columbia, Oct 18, 2004 (BUSINESS WIRE) -- Palcan Power Systems Inc. (TSX-V:PC is pleased to announce that it has sold its UPS and Fuel Cell Stack to one of China's largest oil companies based in northwest China.

The order for Palcan's 500 Watt UPS (uninterruptible power supply) and its 2Kw Water-cooled Fuel Cell Stack will be assessed for potential application along a 5,000 kilometer natural gas pipeline. The Chinese oil company is seeking a viable technology to power the pipeline's security monitoring systems and has chosen Palcan's as a result of the quality of its products and the reputation it has for fuel cell products.

As China industrializes, its energy needs are growing dramatically. Until 1993, the country was a net crude oil exporter but since then oil imports have increased sharply to over 75 million tons in 2000. As a result, China is seeking other energy sources to meet its power demands. Palcan believes that this initial application of its fuel cell technology may potentially lead to future orders for this 5,000 km. pipeline and also for other applications throughout China, a market which Palcan has targeted for sales of its products.

Palcan is developing expansion plans to include a new facility in China which will manufacture rare earth metal hydride hydrogen fuel cell canisters to supply the growing hydrogen power market throughout mainland China. This order for assessment units is valued at US$21,552. As part of the sales agreement, the name of the purchaser must be kept confidential.

"We are very pleased with this initial order as it paves the way for us to supply a significant number of Fuel Cell Stacks and UPS modules to China. China is a focus for Palcan's exports and also the location for our hydrogen canister manufacturing facility. It is a natural for us to be supplying various companies within China and I see tremendous opportunity here as this relationship promises to raise our visibility as a premier supplier of fuel cell technology to China," stated Dr. John Shen, Palcan's President.

China is home to the world's largest wind power project set to bring clean air and green energy to the 2008 Summer Olympics and city residents coping with some of the worst air pollution in the world. The World Bank reports China is the world's largest coal consuming country and home to 16 of the world's 20 most polluted cities with at least 400,000 people dying each year from air pollution-related illnesses. Palcan believes it can provide the technology that China needs to address many of these serious issues.

About Palcan

The Company is a leading developer and manufacturer of proton exchange membrane (PEM) fuel cell systems under 5 kilowatts and metal hydride hydrogen storage products. The Company's proprietary and patent pending technologies form the core of the PalPac(TM) Power Products. A unique and integrated fuel cell power system aimed directly at low output applications where batteries and smaller internal combustion engines (ICE) are the power source. These include stationary, marine, military and portable power applications. The Company's manufacturing, research and development facilities are located in Burnaby, British Columbia and Jiaxing, China. The Company trades on the TSX Venture Exchange under the symbol "PC".

Certain matters discussed in this press release may contain forward-looking statements that may involve risk and uncertainties. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to; product development delays, the ability to attract and retain business partners, competition from other fuel cell manufacturers, competition from existing power technologies, and the ability to provide the capital required for product development, operations and marketing. Investors are encouraged to review the Company's filings on SEDAR at www.sedar.com

The TSX Venture Exchange has neither reviewed nor approved of the contents of this new release.

SOURCE: Palcan Power Systems Inc.

CONTACT: Palcan Power Systems Inc.

Daniel Gallagher

Corporate Communications

Toll Free: 1-866-548-8868 or [phone]

E-mail: [e-mail]

www.palcan.com


Copyright (C) 2004 Business Wire. All Rights Reserved.

[theberg] 31/10/2004 14:48

Palcan Sells Fuel Cells to One of China's Largest Oil Companies
18 October 2004

Author:
Provider: Business Wire




VANCOUVER, British Columbia, Oct 18, 2004 (BUSINESS WIRE) -- Palcan Power Systems Inc. (TSX-V:PC is pleased to announce that it has sold its UPS and Fuel Cell Stack to one of China's largest oil companies based in northwest China.

The order for Palcan's 500 Watt UPS (uninterruptible power supply) and its 2Kw Water-cooled Fuel Cell Stack will be assessed for potential application along a 5,000 kilometer natural gas pipeline. The Chinese oil company is seeking a viable technology to power the pipeline's security monitoring systems and has chosen Palcan's as a result of the quality of its products and the reputation it has for fuel cell products.

As China industrializes, its energy needs are growing dramatically. Until 1993, the country was a net crude oil exporter but since then oil imports have increased sharply to over 75 million tons in 2000. As a result, China is seeking other energy sources to meet its power demands. Palcan believes that this initial application of its fuel cell technology may potentially lead to future orders for this 5,000 km. pipeline and also for other applications throughout China, a market which Palcan has targeted for sales of its products.

Palcan is developing expansion plans to include a new facility in China which will manufacture rare earth metal hydride hydrogen fuel cell canisters to supply the growing hydrogen power market throughout mainland China. This order for assessment units is valued at US$21,552. As part of the sales agreement, the name of the purchaser must be kept confidential.

"We are very pleased with this initial order as it paves the way for us to supply a significant number of Fuel Cell Stacks and UPS modules to China. China is a focus for Palcan's exports and also the location for our hydrogen canister manufacturing facility. It is a natural for us to be supplying various companies within China and I see tremendous opportunity here as this relationship promises to raise our visibility as a premier supplier of fuel cell technology to China," stated Dr. John Shen, Palcan's President.

China is home to the world's largest wind power project set to bring clean air and green energy to the 2008 Summer Olympics and city residents coping with some of the worst air pollution in the world. The World Bank reports China is the world's largest coal consuming country and home to 16 of the world's 20 most polluted cities with at least 400,000 people dying each year from air pollution-related illnesses. Palcan believes it can provide the technology that China needs to address many of these serious issues.

About Palcan

The Company is a leading developer and manufacturer of proton exchange membrane (PEM) fuel cell systems under 5 kilowatts and metal hydride hydrogen storage products. The Company's proprietary and patent pending technologies form the core of the PalPac(TM) Power Products. A unique and integrated fuel cell power system aimed directly at low output applications where batteries and smaller internal combustion engines (ICE) are the power source. These include stationary, marine, military and portable power applications. The Company's manufacturing, research and development facilities are located in Burnaby, British Columbia and Jiaxing, China. The Company trades on the TSX Venture Exchange under the symbol "PC".

Certain matters discussed in this press release may contain forward-looking statements that may involve risk and uncertainties. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to; product development delays, the ability to attract and retain business partners, competition from other fuel cell manufacturers, competition from existing power technologies, and the ability to provide the capital required for product development, operations and marketing. Investors are encouraged to review the Company's filings on SEDAR at www.sedar.com

The TSX Venture Exchange has neither reviewed nor approved of the contents of this new release.

SOURCE: Palcan Power Systems Inc.

CONTACT: Palcan Power Systems Inc.

Daniel Gallagher

Corporate Communications

Toll Free: 1-866-548-8868 or [phone]

E-mail: [e-mail]

www.palcan.com


Copyright (C) 2004 Business Wire. All Rights Reserved.

[shoggoth] 30/10/2004 01:13

Most base metals up 4% today. A coincidence that it happened the day after the rate hike?

[hectorp] 29/10/2004 17:20

I must go - once, and do a journey ( maybe take a month) and take in Viet Nam etc. ONly been Far East once, 6 yrs ago, to Indonesia Bali, Lombok, was great. sigh. Can't stand the air flight time.

PS I'm certain this stuff now about the Chinese hike affecting metals prices will fall into our hands in a few weeks.

[eurofox] 29/10/2004 16:44

Hectorp,

couldn't agree more - my son has been to china 3 years on the trot now - its an unstoppable machine!

[hectorp] 29/10/2004 08:16

Hmmm - for the tens of millions of Chinese consumers who have seen wages grow over 9 years by a great deal, raising interest rates a little will do nothing much to change their new habits of buying commodity goods like watches cars phones etc. They like us 'must have' The'll get more credit is all.

Unless they were to raise rates monthly at tbis rate for a long time, I can not see anything significant in this, its more the markets see it as symbolic. China will continue to grow in 2005 and 6: this is a glitch.
In any case, China is not the West: Chinese Government can if they have to, intervene in many ways to reduce growth, and they have been I believe. Of course this may be haphazzard and unwise in our eyes and reduces the value to me of China stocks.
That aside:
I believe - in my limited and blinkered way no doubt! - punters should see any retracement in metals prices as a chance to top up longs eg in explorers or miners
especially explorers about to become miners ( like Griffin in China). also maybe likes of Billiton if you can get in 20-30p lower.