Word: luen
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Dates: during 2004-2004
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...Nurdin's last "offer" was a year ago when a middleman sought a crew to bring in a Taiwan-flagged tanker, the Luen Fatt, after it had been hijacked. Nurdin and 13 other sailors steered the ship to the virtually unregulated waters around Batam, he says. Within hours, the cargo of diesel oil was unloaded and the 1,249-ton tanker repainted, renamed and on its way to a broker. Sometimes, Nurdin continues, his clients want only the "skin," which means just the vessel, of a certain size, length and capacity, while at other times it's only the "guts...
...Drawing on years of research and information provided by sources ranging from local police to informers, the IMB believes that about five criminal syndicates?probably based in Indonesia and Malaysia?are responsible for most of the larger-scale hijackings like that of the Luen Fatt. And though there are still plenty of local fishermen armed with machetes who board ships, steal a few mobile phones and leave, more sophisticated operations run by the syndicates are becoming the norm. "Previously, attacks were isolated and mounted from one or two boats, but now they are much more coordinated, with pirates using five...
...largest apparel maker listed on the Hong Kong stock exchange, Luen Thai has factories in four countries but is shifting capacity to mainland China ahead of the lifting of the trade restrictions. Last year, the company's plant on the tiny Pacific island of Saipan?a U.S. territory exempt from quotas?accounted for nearly half of all its production, compared with about 25% from China. But Chinese output is expected to double this year, and for the next few years Luen Thai plans to increase head count at its Dongguan facility from 5,000 to 14,000. In May, Luen...
...China's competitive advantage in textile manufacturing is seen primarily as its ability to produce clothes cheaply. But leading manufacturers like Luen Thai are also trying to add value in other areas, for example, by streamlining the supply chain and making their customers' jobs easier. At the Dongguan compound, Luen Thai provides major clients such as Polo Ralph Lauren and U.S. department-store chain Dillard's with dedicated teams of designers, merchandisers and sales staff?all housed in plush offices located on the factory site. Keeping designers close to production cuts development time and improves communication. Luen Thai teams...
...Such refinements can only help China lock up more of the global textile trade. However, companies are wary of putting all their eggs in one basket. Luen Thai plans to keep its Saipan plant open and is continuing to operate small factories in Cambodia and the Philippines. "So long as [buyers] hedge their risks, then we hedge our risks, too," says CEO Tan. But, ultimately, China is the place to be. "It's the most efficient place to manufacture," says Tan. "And every day the world is moving increasingly toward free trade...