Briefs, October 17, 2012

PUBLISHED : Wednesday, 17 October, 2012, 12:00am
UPDATED : Wednesday, 17 October, 2012, 2:22am

Baidu debuts security software in Thailand

Baidu, China's biggest internet search services provider, started its push into the security software market this week in Thailand. Its initial product, Baidu PC Faster 2.0, is available free to download from its Thai website. Kaiser Kuo, a director at Baidu, said the software will also be released in selected markets across Asia over the next several months. Bien Perez

Greek Mythology returns 40 tables

Macau casino investor Amax said its associate Greek Mythology (Macau) Entertainment has confirmed it has terminated the operating rights of 40 gaming tables, third of the total, in the Greek Mythology Casino and returned them to SJM. As a result, Hong Kong-listed Amax may lose a third of the profit, or about HK$80 million, from its associate. Sophie Yu

Singamas sells two container businesses

Singamas Container Holdings, the world's second-largest maker of marine containers, has agreed to sell two wharf and tank container businesses in the Pearl River Delta for a total of 316.5 million yuan (HK$387.7 million). Foshan Shunde Singamas Tank Container, a wholly owned subsidiary, will be sold to Guangdong Fuwa Machinery for 171.5 million yuan. The firm's 59 per cent stake in Foshan Shunde Leliu Wharf & Container will be acquired by Foshan Shunde Chuangjian Investment for 145 million yuan. Keith Wallis

PetroChina, Shell finish shale gas trial drilling

PetroChina and Royal Dutch Shell successfully conducted trial drilling on their first joint shale gas well on September 27, China National Petroleum Corp, PetroChina's parent company, said in its online newsletter yesterday. The well is in Sichuan province. Bloomberg

Outlook for Chinese banks 'challenging'

Chinese banks' outlook remains "challenging" for the next six months because the impact of interest rate cuts and new loan pricing is not fully reflected in their earnings yet, analysts at Deutsche Bank wrote. The country's publicly traded lenders will probably report third-quarter net income growth slowed to 15 per cent from a year earlier when they publish accounts later this month, analysts led by Tracy Yu wrote in a note yesterday. Bloomberg