FRENCH tyre maker Michelin plans to sell up to 15 million shares it owns of Hankook Tire, representing approximately 9.98% of the share capital of this company, via an institutional private placement by way of an accelerated book building. Michelin…
Category: Pan-Asia
South and East Asia rubber news
Reduction of tariffs for Korean tyres into US
THE US-based Tire Industry Association (TIA) reports recently signed Korean-United States Free Trade Agreement will reduce the tariff on the importing of Korean manufactured car and truck radial tyres from 4% (3.4% for non-radial) through a series of graduated step-downs…
Cutting growth of rubber to stabilise prices
THAILAND’S rubber growers in the southern provinces have agreed to reduce supply by at least 25% in an attempt to stabilise prices that have been declining steadily for two months. Planters will reduce tapping to 15 days a month from…
Vietnam adjusts tax tariff on rubber exports
VIETNAM has decided to make adjustments on the tax tariff for export of some rubber commodities. Export of natural rubber products and natural rubber latex, which are either pre-vulcanised or unvulcanised will be subject to a tax of 3%, instead…
Rubber smallholders encouraged to sell rubber seeds to Risda
KOTA BAHARU, Malaysia – More than 120,000 rubber smallholders in the country are encouraged to sell rubber seeds to the Rubber Industry Smallholders Development Authority (RISDA) to help with the agency’s replanting programme. Its Director-General, Datuk Wan Muhamad Zuki Mohamed,…
RM195 mn allocation for rubber replanting programme
PENAMPANG, Malaysia – The federal government has approved an allocation of RM194.723 million for the rubber replanting programme and new rubber cultivation nationwide for the 2011-2012 period. Plantation Industries and Commodities Minister Tan Sri Bernard Dompok said from this amount,…
Glove makers set to raise prices
PETALING JAYA – Rubber glove makers are set to raise prices of their products, in view of costlier labour, fuel, packaging and a weakening US dollar. “Fuel and labour costs have gone up considerably. The US dollar, too, has weakened…
Vehicle owners urged not to use retreaded, winter tyres
TEMERLOH – Vehicle owners are urged not to use retreaded tyres and winter tyres as several road accidents in the country have been found to involve tyre failure. Pahang Road Transport Department (JPJ) director, Datuk Zakaria Man said even though…
Hankook seeking strategy to increase RI market share
ACKNOWLEDGING the tight competition in Indonesia’s tyre markets, South Korea’s number one tyre producer, Hankook, has built its seventh plant in Cikarang, West Java, “merely” to cut the production costs of tyres they will sell outside Indonesia. The new plant…
Rubber drops as slumping economies, European debt crisis may curb demand
RUBBER declined amid speculation that slowing growth in Asian economies and Europe’s sovereign- debt crisis may weaken demand for the commodity used in tyres. The February-delivery contract fell as much as 1.6 percent to 359.1 yen a kilogramme ($4,670 a…