MALAYSIA ASKS EXPORTERS
TO CUT FOREIGN CONTENT
KUALA LUMPUR, Malaysia - Malaysian Prime Minister Mahathir Mohamad has urged exporters to reduce the foreign-sourced content of their products so as to narrow the country's trade deficit, reported the Bernama news service.
According to Mr. Mahathir, although the value of the country's exports has been high, the import-content of some products has exceeded 50 percent.
''This has made the import bill almost the same as the export receipts," he said Saturday.
Mr. Mahathir also asked exporters to use local ports so that handling charges remained in the country.
''We do not want the gains that should rightfully belong to the country to benefit others. If we have no alternative, we have to export through other means that will give us maximum returns," he said.
KODAK PLANT IN CHINA
TO MAKE CAMERA CHIPS
SHANGHAI, China - Municipal officials said Eastman Kodak Co. of Rochester, N.Y., invested $3.5 million in a wholly owned enterprise in the export- processing zone of the Pudong development area.
Kodak Electronics China Co. , the first such operation the company has launched in Shanghai, will turn out 15 million electronic circuit chips for cameras a year, all to be exported. By 1998, the plant is expected to generate $40 million in sales each year.
NTT PROCUREMENT UP
FROM FOREIGN FIRMS
TOKYO - Nippon Telegraph and Telephone Corp., Japan's biggest telecommunication company, said its procurement from foreign suppliers during the fiscal year ending March 31, 1995, reached 135 billion yen, or about $1.35 billion, an increase of $258 million over the $1.09 billion in the previous fiscal year.
Major products NTT procured from overseas suppliers included telecommunications network equipment, digital switching systems, digital transmission equipment and optical fiber cables.
STATISTICS SHOW GROWTH
IN LITHUANIA'S ECONOMY
VILNIUS, Lithuania - Recent Lithuanian economic statistics indicate that the country's economy is livening up, the director of the Lithuanian Statistics Department, Kestutis Zaborskas, said, according to a report by the Interfax News Agency.
The department said retail sales turnover was up 7.3 percent in August compared to July, while sales of products of the country's mining and processing industries were up 14.1 percent on the month.
In agriculture, cattle and poultry purchases were up 10 percent and milk purchases 6 percent on the month, while cargo transportation by sea, river and air had also risen.
He said monthly inflation in August was only 0.4 percent, the lowest rise since Lithuania became independent in 1991.
BEIJING LIGHT AUTOMOBILE
SIGNS 700-VEHICLE DEAL
BEIJING - Beijing Light Automobile Co. said it signed contracts to export 700-plus vehicles valued at more than 3.5 million yuan ($421,000) in the first six months of this year. The company expects annual exports to top 1,000 units.
As the domestic light vehicle market faces fiercer competition, the company
sent technicians on investigation tours to the Middle East. It has exported to countries there and in North Africa, Southeast Asia and South America.
HUNGARIAN FIRM GETS
$300 MILLION CREDIT LINE
LONDON - Investel Rt, a wholly owned subsidiary of Hungarian Telecom (Matav Rt), has signed a $300 million syndicated line of credit, the Hungarian news agency MTI-Econews reported.
The deal is the largest syndicated credit line to be granted to a Hungarian company without a government guarantee.
The credit can be drawn down over 18 months and comprises three $100 million loans, Investel managing director Janos Csak told the agency.
The European Bank for Reconstruction and Development and the International Finance Corp. are granting loan A. Loans B and C will be syndicated to a group of 35 commercial banks lead-managed by Deutsche Bank.
The loans will be used to partly finance Matav's investment program.
MALAYSIA ASKS EXPORTERS