Korean Car Distributor Granted Regulatory Approval

Korean automobile distributor Hyundai Asia Resources, Inc. (HARI) received regulatory approval on Wednesday to hike its capital fourfold to P1 billion.

British Virgin Islands firm Kibo Holdings Ltd., which owns half of HARI, increased its stake in the company by subscribing to the entire stock increase but paid for only P200 million, documents from the Securities and Exchange Commission (SEC) showed. Read more

Toyota Achieves Highest Ranking in Philippines Customer Satisfaction Study

Toyota ranks highest in customer satisfaction with authorized dealer after-sales service in the Philippines, according to the J.D. Power Asia Pacific 2008 Philippines Customer Satisfaction Index (CSI) StudySM released today.

Now in its eighth year, the study measures new-vehicle owner satisfaction with the after-sales service process by examining dealership performance in seven factors. In order of importance, they are: problems experienced; service quality; user-friendly service; service delivery; service advisor; service initiation; and in-service experience. CSI performance is reported as an index score based on a 1,000-point scale. Overall customer satisfaction shows improvement with a score of 837 this year—an increase of 23 points since 2007. Read more