Sandvik posts 9-month profit: Swedish tools and speciality metals group Sandvik AB posted a nine-month profit of 3.10 billion crowns ($395.5 million), just below expectations,and warned that its full-year earnings would fall below 1997 levels. "Since the business climate has deteriorated faster and more notably than previously anticipated, it is estimated that profit after financial items will be somewhat lower than corresponding earnings in 1997," Sandvik said in a statement.

Kia creditors to meet today over Hyundai: South Korean creditor institutions will meet this week to discuss whether to approve Hyundai Motor Co's victory in an auction to take over Kia, an official at Korea Development Bank said. An official at the state-run bank, the largest Kia creditor, said 28 financial institutions representing the majority of debt owed by Kia would meet at 0130 GMT on Thursday. Organisers of the auction to sell controlling stakes in debt-ridden Kia and its sister-firm Asia Motors Co on October 19 declared Hyundai the winner. The selection is subject to approval by creditors but the meeting of creditors has been delayed because of a discontent over the debt write-off scheme forHyundai. Hyundai asked for a debt write-off of 7.3 trillion won ($5.55 billion) and has rejected requests from creditors to reduce the amount.

San Miguel suspends plan to sell CCA stake: Food and beer group San Miguel Corporation (SMC) said on Wednesday that the conglomerate had deferred plans to sell its entire 21.5 per cent stake in Coca Cola Amatil Ltd. But SMC, one of the country's biggest conglomerates, still wanted to sell its stake in the softdrink firm once share values recovered, SMC Chairman Eduardo Cojuangco told reporters.