Birmingham International Holdings, a major sponsor of Birmingham City Football Club, said yesterday it would need to further delay its interim result for the six months ended in December last year. In July last year, the company's chairman, Carson Yeung Ka-sing, was charged with alleged money laundering offences. Lulu Chen
China Railway Construction Corp's net profit declined 11.12 per cent to 3.22 billion yuan (HK$3.93 billion) in the first half, while revenue dropped 12.71 per cent to 184.53 billion yuan. New contracts rose 36.55 per cent to 280.07 billion yuan. Another Chinese rail construction firm, China Railway Group, saw net profit decrease 2.2 per cent to 2.39 billion yuan. Toh Han Shih
Vale, the Brazilian iron ore mining company, is to sell and lease back 10 very large ore carriers to South Korea's Polaris Shipping in a deal worth US$600 million. The 300,000 dwt (deadweight tonne) ships were converted from oil tankers into iron ore carriers and were acquired by Vale in 2009 and 2010. Vale's orders for 400,000 dwt very large ore carriers at China Rongsheng Heavy Industries and Daewoo Shipbuilding and Marine Engineering are not affected by the Polaris deal. Keith Wallis