The Malaysian Insider

TOKYO, Feb 9 – Toyota Motor Corp said on Tuesday it has suspended shipments of its Sai and Lexus HS250h hybrids for possible problems in the models’ braking systems, as it prepares for a recall of its flagship Prius hybrid.

Toyota, which has already announced two other massive recalls, is fighting to keep its reputation for quality and reliability and deal with a potential rush of litigation.

Media also said Toyota President Akio Toyoda was considering testifying to Congress at a hearing in front of the House Oversight Committee in Washington. Toyota declined to comment.

JAKARTA, Feb 9 – Indonesia plans to limit exports of crude palm oil (CPO) to encourage downstream work, the industry minister said on Monday, a move that a trade group doubts would easily lead to the hoped for surge in value-added products.

The plan is unlikely to have any near-term impact on CPO supplies onto the world market and a senior Indonesian palm oil industry official questioned the scope.

The domestic market’s capacity to absorb output of refined products, as well as the government’s definition of such products is key, Joko Supriyono, secretary general of the Indonesian Palm Oil Association (GAPKI), told Reuters.

SINGAPORE, Feb 9 – Singapore Telecommunications, Southeast Asia’s biggest telecom firm, said on Tuesday it was focusing on Asia for acquisitions but would also look at Africa and the Middle East.

“Our focus remains in Asia. That’s unchanged. We are also looking at some adjacent markets including Africa and the Middle East,” said CEO Chua Sock Koong at a post-results briefing, when asked about acquisitions.

The firm earlier on Tuesday reported an 18 per cent rise in quarterly underlying net profit driven by strong growth in regional mobile operations, roughly in line with forecasts.  – Reuters

TOKYO/DETROIT, Feb 9 – Toyota Motor Corp was preparing a global recall of its new Prius model on Monday, further damaging its reputation for quality and reliability on the heels of two other massive recalls.

In addition, Japan’s Nikkei newspaper reported that Toyota will halt domestic production of its Sai and Lexus HS250h hybrids, which are to be recalled for faulty brakes, at the end of this week.

In the apparent first of a potential rush of legal claims over the Prius, the owner of a 2010 Prius has sued Toyota in Los Angeles, claiming the automaker failed to fix a brake defect and seeking a court order requiring a recall.

TOKYO, Feb 9 – The euro inched up against the dollar on Tuesday but remained within sight of an 8-½ month low hit last week, held back by persistent worries about the fiscal health of some euro zone countries.

Investors awaited a special European Union summit on the economy on Thursday as the bloc grapples with a debt crisis in Greece and budget concerns in other member states.

Market activity is likely to be subdued as investors are unwilling to place big bets due to concerns about sovereign credit risks in the euro zone, traders said.