CSH looks for profit in infrastructure investment
China Strategic Holdings (CSH) says it plans to make telecoms and other infrastructure investment its two fastest growing sectors in terms of investment amount and profit contribution.
Executive director Mico Chung Cho-yee said yesterday the company was seeking to expand its mainland telecoms investment through a new arm.
He would not say if that arm would be Star Telecom International Holdings.
CSH holds 14.2 per cent of locally listed Star Telecom and 37 per cent of telecoms equipment trader Tricom Holdings.
Reports suggest CSH plans to exercise an option to buy a further 22.95 per cent stake in Star, boosting its stake to 37.15 per cent and potentially triggering a general offer for the remaining shares.
Mr Chung would not confirm the reports but said CSH was seeking to expand its investment in China's telecoms sector.
Trading in China Strategic, Star and Tricom has been suspended since Tuesday.
Mr Chung said the suspension of CSH and Star was at the request of the company, while Tricom's suspension was requested by the stock exchange.
He said CSH was drafting an announcement which he hoped would see trading in the companies resume soon, but that it would not relate to CSH making a general offer to Star shareholders.
