STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 3, 2005--GE Consumer Finance (GECF), the global consumer lending unit of the General Electric Company (NYSE: GE - News), announced today it has reached an agreement to acquire a majority interest in Keppel Bank Philippines (KBP) for US$25.8 million. The transaction, which was made through GECF's affiliate, GE Capital International Financing Corporation, is subject to regulatory approvals. Upon closing, GECF will assume operational control of the bank.
August 23, 2005 -- EVENDALE, Ohio - Singapore Airlines (SIA) signed a 10-year OnPoint SM Solutions service agreement with General Electric Company for the maintenance, overhaul and repair of GE90-115B engines that will power 19 Boeing 777-300ERs, which enter service in 2006. The agreement is the first GE90 OnPoint Solutions service agreement.
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MEDICAL equipment and solutions provider GE Healthcare Technologies, a unit of GE Electric Inc, expects the Malaysian market to contribute a revenue of about RM102 million out of the total RM302.5 million for the company's healthcare business in South-East Asia this year.
Its regional general manager Arun Sharma said the target is based on the increase in orders and sales for its medical equipment and technologies in the country.
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Singapore, 18 February 2005 - Singapore Post Limited ("SingPost") and GE Money today announced that they have signed an agreement to establish a distribution partnership for GE Money's personal loan product in Singapore. Under this partnership, SingPost will distribute GE Money's personal loans at its post offices.
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Since February 2005, a GE water purification plant has been producing approximately 430,000 liters of clean and safe water per day, benefiting tens of thousands of people. GE transports it daily to local hospitals, orphanages and other vulnerable populations in Banda Aceh and Aceh Besar. USAID is working with GE and other partners in camps to set up water and sanitation systems and to promote good hygiene and health care. Child deaths and disease are being avoided by promoting simple hand washing and basic hygiene, and by maintaining a supply of clean and safe water.
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Global giant GE Finance, the leading consumer finance company, is aggressively rebranding itself and is opening its retail bank at the end of December. It is also eyeing 15 to 20 percent growth this year. The move is a key 2005 strategy to muscle in its position as a leader in Thailand's consumer finance market.