Mitsubishi Motors upgraded: Daiwa Institute of Research Ltd said on Tuesday it upgraded Mitsubishi Motors Corp to a ``B'' from its previous `` C''. In its three-grade rating system, the research institute assigns a ``B'' rating to issues whose values it sees moving within 10 percentage points in either direction of the Tokyo Stock Exchange first-section.

Hyundai union rally prevents production: South Korea's Hyundai Motor Co said on Tuesday that productionat its Ulsan factory, originally scheduled to resume at 8 am, remains halted due to a labour union rally protesting against layoffs. ``About four or five divisions seemed to be preparing for work this morning, but the rally is preventing production and some union leaders are pushing workers out of the production lines,'' said a company spokesman. ``There are some police stationed outside in front of the main gates, just in case. But we are going to watch the situation and have no plans to use force yet,'' he said.

Hellaby wins NZ$1.3 m court ruling: Hellaby Holdings said on Tuesday it had won a Court of Appeal ruling in its NZ$1.3 million tax dispute, plus interest, with the New Zealand Inland Revenue Department. In February the High Court resolved the tax dispute in favour of Hellaby, but Inland Revenue took it to the Court of Appeal.

Ram in discussions with Intria holder: Rating Agency Malaysia Bhd (Ram) said on Tuesday it was in discussions with Intria Bhd's controlling shareholder, MekarIdaman Sdn Bhd, after Mekar was placed under receivership due to a payment default. ``Ram is currently in discussions with Intria with regards to these developments and will disseminate its findings as soon as possible,'' the agency said in a statement.

Lanka Aluminium sets final 97-98 dividend: Lanka Aluminium Industries Ltd is to offer a first and final cash dividend of one rupee per share based on 1997-98 (April-March) financial year earnings, the Colombo Stock Exchange said in a statement on Tuesday. The statement said the payment date will be notified later. The 10-rupee share of the company, which manufactures and sells aluminium extrusions, closed at Rs 5.50 on July 21, when it was last traded.

Trammell CFO moves to another post: Trammell Crow Co said on Monday its chief financial officer Asuka Nakahara will be leaving his position to become chief knowledge officer of the real estate services company. In a statement, Trammell Crow said in this new position Nakahara will be responsiblefor integrating company university's programmes, human resources, compensation and recruitment. The release did not give details of any replacement for Nakahara in the position of chief financial officer.

PLDT sets cash dividend on preferred shares: The Philippine Long Distance Telephone Co (PLDT) said on Tuesday its board of directors approved the declaration of a 50 cent avo cash dividend on convertible preferred shares. In a disclosure to the Philippine Stock Exchange, PLDT said holders on record as of August 27 of the company's series B, F, Q, and V 10 per cent cumulative convertible preferred stocks would be entitled to the cash dividend. The dividend would be payable on September 30 and covers the semi-annual period ending August 31, 1998.