Posted at 12:46 p.m., Monday, March 7, 2005
BUSINESS BRIEFS
Report says Kaua'i resort to be sold
Advertiser Staff and News Services
Suntory Ltd., Mitsui & Co., and Nippon Shinpan Co. are expected to sell the assets of Princeville Resorts in Hawai'i for about $161.6 million this month to Morgan Stanley Real Estate Funds and a local investor, Nikkei English News reported.Suntory would received about $80.8 million in the transaction, Nikkei reported. Suntory, Japan's fourth-largest brewer, plans to sell some businesses and spend about $1.9 billion over the next three years to buy other beverage and alcohol companies, Nikkei reported.
The companies bought the property in 1990. Suntory owns 51 percent of the property; the other companies each own 24.5 percent, Nikkei said.
First Hawaiian adds 18 new ATMs at four shopping centers
First Hawaiian Bank over the next three months will install 18 additional automatic teller machines at Ala Moana Center and three other shopping centers owned by General Growth Properties.
Eight ATMs will be installed at Ala Moana Center, five at the Ward Center and Ward Entertainment Center complex, two at Queen Ka'ahumanu Center in Kahului, and three at the Prince Kuhio Plaza in Hilo.
Following the installations, First Hawaiian will have more than 230 ATMs in place in Hawai'i, Guam and Saipan.
Hawai'i honey production falls 4 percent in 2004
Hawai'i honey production in 2004 was estimated at 768,000 pounds, a 4 percent drop from the year before, according to the state Department of Agriculture.
Wet weather conditions limited food sources for bees, affecting honey output, the department said.
Producers received an average of $1.41 per pound in 2004, down 4 cents from the 2003 record average. The number of honey producing colonies totaled 8,000, up 1,000 from the previous year.
Honey yield per colony averaged 96 pounds, down 18 pounds from 2003.