NNA Asia top stories Tuesday, Dec. 4

06, Dec. 2018

TOKYO, NNA – The following are the top stories from NNA Asia for Tuesday, Dec. 4.

Holcim Philippines to spend $300 million to raise cement output capacity

MANILA, NNA - Holcim Philippines, Inc. will invest nearly $300 million to increase its cement production capacity by 30% to 13 million tons by 2020, the company said on Monday.

It will upgrade its facilities in Bulacan province on the northern Philippine island of Luzon and in Misamis Oriental province on the southern island of Mindanao, with new, more efficient kilns and mills and waste heat recovery systems.

Holcim Philippines began investing in productivity improvements with the rehabilitation of its grinding plant in Mabini, Batangas province on Luzon in 2012 and reduction of bottlenecks at its plants in 2015.

Expansion projects in La Union province on Luzon and the Davao region on Mindanao are scheduled to be completed in 2019.

Myanmar car prices stable after recent surge; more buying on credit

YANGON, NNA – Automobile prices have stabilized in Myanmar after a recent spike, prompting more purchases on credit, dealers in Yangon told the local newspaper Global New Light of Myanmar.

“The prices of cars remain stable. While there are fewer right-hand drive vehicles as their import is no longer permitted, domestic buyers prefer them,” U Aung Than Win, the chairman of the Myanmar Automobile Purchase and Sale Enterprise (Yangon), was quoted as saying.

Among the popular right-hand drive vehicles are the Toyota Probox, Honda Fit, Honda Wish, Toyota Kluger and Toyota Alphard, priced in a range of 15 million kyat to 40 million kyat ($9,628 to $25,674), he said.

The number of buyers paying in instalments has risen 40 percent to 50 percent this year compared to last year, said U Min Min Maung at MMM Car Sale Center, according to the report.

China Caixin Nov factory PMI 50.2 vs 50.1 in Oct; new exports below 50

BEIJING, NNA - The Caixin China General Manufacturing Purchasing Managers’ Index, a key measure of manufacturing activity, edged up to 50.2 in November from 50.1 in October, just off a 16-month low of 50 in September, the Caixin survey showed Monday.

The reading is just above the boom-or-bust line of 50 that separates expansion from contraction.

Amid the U.S. trade dispute, the sub-index of new export orders slipped to 47.7 in November from 48.8 the previous month, staying below 50 for the eighth straight month.

The sub-index of new orders rose slightly to 50.9 in November from 50.4 in October, while the output prices sub-index fell to 49.8 in November, indicating downward pressure for profits.

The official Purchasing Managers' Index, released on Friday by the National Bureau of Statistics, fell to 50 in November from 50.2 in October, missing market expectations.