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Joint Ventures and Strategic Partnerships in Asia: March 1999 Update

Strategic Insights

— 2 min read

Asia's business landscape is abuzz with joint ventures and strategic partnerships as companies seek to tap into the region's vast market opportunities. In this latest update, we explore several significant developments in the Asia-Pacific region, underscoring the growing trend of partnerships and collaborations.

Key Takeaways:

  • Movenpick, a Switzerland-based firm, is launching an ice cream franchise in South Korea next month, building on its existing presence in luxury hotels in Seoul.
  • Hyundai Mipo Dockyard, a South Korean company, is nearing completion of a joint venture shipyard in Vietnam, with two dockyards with capacities of 400,000 tons and 80,000 tons, respectively, set to be operational by the end of April.
  • Sedimentary Holdings NL, an Australian junior company, has discovered a substantial new intersection of gold and silver mineralisation at its Cracow joint venture in Southern Queensland, with drilling work conducted in partnership with Newcrest Mining Ltd.
  • Petronas, Malaysia's national oil corporation, has signed a memorandum of understanding (MOU) with South Africa's Sasol Limited to explore opportunities between the two companies.
  • Talks between Nissan Motor Co. and Renault SA have progressed towards a possible capital tie-up, with the Japanese automaker's president hinting that the amount and ratio of the capital tie-up have not been finalised.
  • Hyundai Electronics Ind. has sold a 90% stake in its US-based semiconductor chip assembly subsidiary, Chippac Co., to a consortium of investors led by Citicorp for US$550 million.
  • South Korea's Samsung Group has agreed to sell a 39% stake in its joint venture with GE Medical Equipment for US$20 million, leaving the group with a 10% stake in the company.

Statistics:

  • The Hyundai-Vina Shipyard in Vietnam is expected to be complete by the end of April, with two dockyards having capacities of 400,000 tons and 80,000 tons.
  • Sedimentary Holdings NL's Cracow joint venture has returned a downhole hit of 38 meters at 16.33 grams per tonne gold and 8.28 grams per tonne silver.
  • The price of Hyundai Electronics Ind.'s sale of a 90% stake in Chippac Co. to Citicorp is US$550 million.
  • The sale price includes stocks, takeover of debts, and cash for the Hyundai affiliate.
  • South Korea's Samsung Group will retain a 10% stake in Samsung-GE Medical Equipment following the sale of 39% of the company for US$20 million.

Sources:

  • Asia Pulse, "Executive Briefing on Joint Ventures for March 16, 1999"
  • COMTEX, "News Provided by COMTEX (http://www.comtexnews.com)"

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