Indonesia’s national flag carrier Garuda Indonesia has said it decided to reschedule the delivery of 25 new planes that were initially expected this year to 2020, as the company is now focusing on internal consolidation to improve financial performance.

“[The postponement] gives Garuda room for consolidation and for the improvement of performance, because we have to assure that the delivery of the new planes will increase the company’s revenue,” said Garuda finance and risk management director Helmi Satriyono during a press conference in Jakarta on Thursday as reported by tribunnews.com.

Hemi said Garuda had coordinated with the aircraft manufacturers Boeing and Airbus about the postponement.

“We have negotiated with Boeing and Airbus. They agreed to postpone delivering the planes from this year to the next two or three years,” he added.

Among the aircraft that were postponed include the Boeing 737 Max 8 Aircraft.

Meanwhile, Garuda operational director Triyanto Moeharsono explained that the postponement would not affect the airline’s operation because Garuda’s fleet was still relatively new. “The age of our aircraft is 10 years old on average,” he added. – The Jakarta Post

FPT Software signs $100m contract with Innogy SE

FPT Software Company signed a contract worth over US$100 million with Innogy SE, a member of European energy company RWE, in Hanoi on Thursday.

The contract is the biggest ever in 20 years, since Vietnam’s largest software business was established in 1999. Innogy SE, which has a network of 23 million clients worldwide, earned 44 billion euro in 2016.

Under the contract, FPT Software will provide solutions based on SAP technology, Internet of Things and digital conversion platforms for Innogy SE in the period 2018-24.

Chairman of FPT Software, Hoang Nam Tien, said that being a long-term partner of the RWF would make a great contribution to the firm’s revenue in the European market and open up opportunities for accessing the RWE’s big customers.

Fabian Andreas, purchasing manager of Innogy SE, said his company was developing very fast so it was necessary to ensure access to knowledge and resources, but above all innovation capacity in the field of information technology to change the markets of power, water and gas. – Viet Nam News

Imported car sales slow down by 14% in RP

Although consumers in the Philippines rushed to buy new cars in 2017 ahead of the higher excise tax rates, the growth of imported car sales slowed to 14 per cent, according to data from the Association of Vehicle Importers and Distributors (Avid).

In a statement, Avid reported selling 106,268 units in 2017, higher than the 93,192 units a year ago. This growth, however, is slower than the 60per cent yearly sales growth seen in 2016.

Avid member companies sold 30,336 units during the fourth quarter, a 24per cent jump from 24,438 units in 2016. Both segments of passenger cars and light commercial vehicles grew in the fourth quarter and in the full year of 2017. – Philippine Daily Inquirer

Expanding ESR–Reit in merger talks with Viva

Singapore’s ESR-Reit, which is backed by Warburg Pincus’ Asian logistics venture, is in talks to merge with Viva Industrial Trust to expand its portfolio of Singapore warehouses and business parks, people with knowledge of the matter said.

The two Singapore-listed trusts are negotiating the exact terms of a potential combination, according to the people, who asked not to be identified because details are private. A deal could be announced as soon as the next few weeks, one of the people said. ESR-Reit and Viva Industrial own real estate valued at a combined S$3 billion at the end of December, according to exchange filings. Chinese property tycoon Tong Jinquan is the biggest investor in both trusts, data compiled by Bloomberg show. – The Straits Times.