■ Utilities
Shanghai strains grid
Freezing temperatures in Shanghai have resulted in burst water pipes and power failures that strained the city's power grid, state press reported yesterday. As temperatures dipped to -4.6?C, the lowest in recorded in four years, Shanghai's electricity suppliers have come under strain as residents turned up heaters to try and stay warm, state media said. Peak loads hit 8.02 million kilowatts during over the last four days, up 600,000 kilowatts year-on-year, the Shanghai Daily said. Although authorities have not restricted power usage during the week-long New Year holiday, electricity companies received frequent complaints of outages throughout the city, the daily said.
■ Hong Kong
China National in HK project
China National Real Estate Development Group, which is controlled by China's Cabinet, plans to proceed with plans to turn 20,000 vacant government-owned apartments in Hong Kong into budget-hotel accommo-dation, the South China Morning Post reported, quoting group chairman Meng Xiaosu. China National Real Estate has been in discussions with the government since March, it said. The project has met with objections from business groups in Hong Kong, it reported. The territory's developers are concerned the units would add units to a market where prices are recovering after a slump, and hoteliers are worried the guesthouses would affect their business, it said.
■ Hong Kong
Home sales surge
Hong Kong home sales surged in the first four days of the Lunar New Year ahead of announcements by developers to raise prices after the holiday, the South China Morning Post reported, citing Centaline Property Agency. There were almost 400 transactions during the four-day holiday, compared with less than 100 the same period a year ago, it said. Cheung Kong (Hold-ings) Ltd, Sun Hung Kai Properties Ltd, Henderson Land Development Co and New World Development Co said they plan to increase apartment prices by as much as 10 percent after the holiday ended, the report said.
■ Telcoms
Nokia Wins US$117m order
Nokia Oyj won a US$117 million order to expand the wireless network of Smart Communications Inc, the largest mobile-phone company in the Philippines. Nokia is upgrading Smart's network with equipment using enhanced data rates for global evolution (EDGE) technology, which allows faster data speeds, Finland-based Nokia said in an e-mailed release. It will also expand Smart's network in rural areas. Demand for wireless networks may be picking up for the first time in three years as operators try to lure subscribers to spend more by offering faster services. Smart, a wholly owned unit of Philippine Long Distance Telephone Co, had 13 million subscribers at the end of last year.
■ Cellphones
Olympus to make modules
Olympus Corp will make high-resolution camera modules for mobile phones, according to a statement by the company. A sales target of ?30 billion (US$282 million) after three years has been set for the camera module, the statement said. Monthly production of 100,000 units is planned, with expansion to 500,000 by the end of this year, the Tokyo-based company said.
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