Bajaj Auto shareholders force poll at AGM
Pune: Shareholders at the annual general meeting of Bajaj Auto sought a poll on the re-appointment of Atul Kirloskar as a director on the board. A shareholder, Pravin K. Vakil, who had 7,800 proxies insisted that since Mr Kirloskar, chairman and managing director of Kirloskar Oil Engines, attended only two of the five meetings of the Bajaj Auto board, he should be reappointed.

The meeting was adjourned for an hour and, on resumption, it gave an overwhelming verdict in favour of Mr Kirloskar's appointment.

Meanwhile, the company reported a 7.7 per cent dip in net profit to Rs 111.09 crore for the first quarter of the financial year 1999-2000 from Rs 120.44 crore in the corresponding period last year. Net sales income declined marginally during the period to Rs 800.30 crore from Rs 810.94 crore in the previous year.
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Colgate net profit up
Mumbai: Colgate Palmolive India has reported a 42 per cent increase in net profit to Rs 12.1 crore for the quarter ended 30 June 1999. The figure for the corresponding period last year was Rs 8.5 crore.

The company's sales rose to Rs 288 crore from last year's 238.1 crore in the quarter.
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Siemens to have a virtual organisation
Calcutta: Siemens Ltd, the Indian arm of Siemens AG of Germany, is floating a virtual organisation to offer a one-stop-shop solution to key customers on information and communications solutions from the Siemens' stable.

The virtual organisation will act as a common customer interface on behalf of the five Siemens units operating in India -- Siemens Ltd, Siemens Public Communications Networks, Siemens Information Systems, Siemens Telecom and Siemens Nixdorf Information Systems.
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Cushman & Wakefield bags TN assignments
New Delhi: Real estate advisor Cushman & Wakefield has bagged several projects in Tamil Nadu and has decided to set up an office in Chennai, its fourth in the country.

The Tamil Nadu Industrial Development Corporation has appointed the company to market its software park in Tamil Nadu. The consulting firm has also been given a contract to conduct feasibility studies for setting up an industrial township at Tirunelveli and a business-cum-financial centre on MG Road in Chennai.
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Daewoo may sell off assets
Seoul: South Korea's Daewoo Group plans to sell its assets in a most radical reform. The indebted conglomerate is planning to announce its restructuring plan soon, The Maeil business newspaper said.

The Korean media is full of reports about the nation's third largest group planning to sell off or spin off all but three to four affiliates. Reports say the group, whose 41 affiliates made a combined net loss of $46.8 million, faces liquidity problems.

The group is likely to retain car maker Daewoo Motor Company, trading and construction firm Daewoo Corporation, and shipbuilding and heavy machinery firm Daewoo Heavy Industries Company.
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LG Electronics plans to unify electronics wings
Seoul: South Korea's LG Electronics, part of the $54 billion LG Group, has unveiled a Digital LG management plan that could bring under one umbrella all its consumer digital electronics products.

The $7.4 billion company hopes to ingrain the digital culture within all affiliated companies towards the middle of 2000 through the transformation of related activities and management culture within the company.    
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Dell predicts Compaq's exit
Austin: Dell Computer Corporation hopes the company will survive in the contracting PC industry. Speaking at Dell's annual shareholders' meeting, chairman Michael Dell predicted that one of the current top five computer makers would soon be forced out of the business.

He did not name the company, but took several jabs at troubled Texas-based rival Compaq Computer Corporation.

Using a chart Mr Dell showed that Compaq's cost structure was "about double" that of Dell's and said, "This is a market where the inefficient will not survive. I believe that one of the top five players in the PC market will drop out over the next several years.  
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