BUSINESS IN ASIA TODAY - OCT 27, 2009

CHINA LIFE MORE THAN DOUBLES NET PROFIT IN Q3

BEIJING - China Life Insurance Company Limited (SEHK:2628),
the country's largest life insurer, posted a net profit of 5.95
billion yuan (US$871.74 million) in the third quarter of this
year, up 154.55 per cent year on year. The company attributed
the profit surge to the improvement in the country's equity
market, which led to higher investment returns, it said in a
report to the Shanghai Stock Exchange on Monday. China Life
said its net profit totaled 19.87 billion yuan in the first
three quarters, up 51.58 per cent year on year.

ISUZU MOTOR'S FIRST-HALF OP LOSS SEEN TO BE BETTER THAN
EXPECTED

TOKYO - Isuzu Motors Ltd. (TSE:7202) likely suffered a group
operating loss of around 20-23 billion yen (US$216.92-$249.45
million) in the April-September half, beating an earlier
prediction calling for 29 billion yen in red ink. Sales are
expected to slide around 50 per cent on the year to about 450
billion yen, missing a prior forecast for 480 billion yen.
Domestic commercial vehicle sales likely fell short of their
target, plunging 40 per cent to roughly 17, 000 units. Demand
for the key light-duty Elf truck and other offerings was
sluggish. Despite sales in some parts of Asia topping
expectations, it was not enough to make up for languishing
domestic demand.

DAEWOO SHIPBUILDING WINS US$460 MLN ORDER FOR BULK
CARRIERS

SEOUL - Daewoo Shipbuilding & Marine Engineering Co.
(KSE:042660) said Tuesday it has received a US$460 million
order to build four very large bulk ships. A client in
Southeast Asia placed the order to build the four 400,000
deadweight-ton vessels, Daewoo Shipbuilding said in a
statement, without identifying the client. An official at
Daewoo Shipbuilding said the order is a "signal" for a recovery
of commercial ship orders.

INDIA'S MOTHERSON SUMI BAGS US$297 MLN ORDER FROM EUROPE

NEW DELHI - Indian auto component maker Motherson Sumi
Systems Ltd (MSSL) (BSE:517334) Monday said its Europe-based
subsidiary Samvardhana Motherson Reflectec (SMR) has received
orders worth Euro 200 million (US$297.2 million) from two
European auto firms for supply of rear view mirrors. The
contract is for a period of 5-7 years starting from 2011. SMR
will start supplies for the new orders from 2011 and will
invest up to Euro 40 million in setting up two new plants and
expanding an existing unit in order to fulfill the contract.

INDONESIAN GAS DISTRIBUTOR PGN POSTS 145% RISE IN 9-MTH NET
PROFIT

JAKARTA - The net profit of Indonesian gas distributor PT
Perusahaan Gas Negara (PGN) (JSX:PGAS) shot up 145 per cent to
Rp4.4 trillion (US$473 million) in the first nine months of
this year from Rp1.79 trillion in the same period last year. A
50 per cent rise in income to Rp13.51 trillion contributed to
the surge in net profit, Hendi Prio Santoso, the president of
the state-run company said. Gas sales to the power generating
plants, industries, households and commercial sector increased
sharply, Santoso said, adding that its operating profit surged
68 per cent to Rp5.91 trillion.

AUSTRALIAN BUSINESS CONFIDENCE AT 7-YR HIGH IN SEPT QTR:
SURVEY

SYDNEY - Australian business confidence jumped to a
seven-year high in the September quarter, just a year after
sentiment had bottomed out at its lowest level in almost two
decades, a survey shows. But while economists say the rise is a
"remarkable turnaround", business conditions and investment
intentions remain subdued. The National Australia Bank (NAB)
survey of business confidence grew by 20 points to plus 16
points in the three months to September, a level not seen the
March quarter in 2002. Business confidence plunged to minus 31
points in the December quarter of 2008, the lowest reading
since the survey began in 1989.

CONDO PRICES UP IN ALL 4 TOKYO-AREA PREFECTURES IN
SEPTEMBER

TOKYO - All four prefectures composing the Tokyo
metropolitan area saw higher average prices for pre-owned
condominiums in September, marking their first rise since
December 2007. According to real estate information provider
Tokyo Kantei Co., the average price for greater Tokyo as a
whole increased for a second straight month as well, indicating
that the existing-condo market may be turning around. The price
in Tokyo climbed 1.7 per cent on the month to 37.09 million yen
(US$402,278) for a 70 sq. meter equivalent, while Kanagawa
Prefecture's figure increased 2 per cent to 24.61 million yen.
Condos in Saitama and Chiba prefectures sold for 17.58 million
yen and 17.52 million yen, up 0.8 per cent and 1.8 per cent,
respectively. For greater Tokyo, the price climbed 2 per cent
to 27.94 million yen.

GCL-POLY TO BUILD CHINA'S LARGEST PHOTOVOLTAIC PROJECT

BEIJING - China's leading green energy supplier GCL-Poly
Energy Holdings Ltd. will build China's largest photovoltaic
(PV) generation project in Xuzhou city of eastern Jiangsu
Province, according to the 12th China Xuzhou Investment Forum
taking place from October 22 to 26. Shu Hua, executive
president of GCL-Poly, expects that the project will produce
electricity by the end of this year and have a capacity of 20
GW. The project involves 600 million yuan (US$87.8 million) of
investment, including US$30 million foreign investment.

TURKEY'S POSSIBLE MINERAL RESERVES AROUND US$2.5 TRLN:
RESEARCH

ANKARA - Turkey has possible mineral reserves worth around
US$2.5 trillion, the country's mineral research directorate
said on Monday. Turkey's Directorate General of Mineral
Research and Exploration (MTA) carried out research on possible
reserves in Turkey, and said 77 of 90 different types of
minerals traded in the world were located in Turkey. The
largest mineral reserve Turkey has is dolomite. Turkey has 15.8
billion tons of dolomite, which is an indispensable element for
the glass and ceramic industry.

AUSTRALIAN GOVT APPROVES CHINESE INVESTMENT IN RAISAMA

CANBERRA - The Australian government approved on Monday a
Chinese mining company to take a stake in unlisted uranium
explorer Raisama Ltd. Raisama said in a statement on Monday
that Australia's Foreign Investment Review Board had approved
Hebei Mining taking a 14.9 per cent stake in Perth-based
Raisama. The Hebei provincial government is securing strategic
interests in uranium exploration companies internationally that
it believes have the best potential to meet the province's need
for uranium, Raisama said.

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