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Business Digest, January 2, 2013

PUBLISHED : Wednesday, 02 January, 2013, 12:00am
UPDATED : Wednesday, 02 January, 2013, 4:24am

China Tianrui set to resume trading today

China Tianrui Group Cement will resume trading today, it said in a filing to the Hong Kong stock exchange. The filing clarified its financial status and its capability of settling bank loans of 3.6 billion yuan (HK$4.4 billion) and short-term bonds of one billion yuan when they mature this month and in April. The announcement was made after local media quoted an organisation called Online Stock Investigation Group, which questioned its finances. The company also stated that it is capable of renewing its short-term borrowings and has "a substantially sound financial position and normal business operation". China Tianrui shares were suspended from trading on Monday. Paggie Leung

 

Sharp weighs US$1.15b public offering: report

Embattled Japanese electronics firm Sharp is considering making a public share offering worth more than US$1.15 billion early this year, the Yomiuri newspaper reported yesterday. The public offering could take place in the spring with the firm hoping to use the funds to strengthen its liquid crystal display (LCD) business and improve its creditworthiness, it said. Sharp has started talks with major creditor banks and wants to include the capital increase scheme in a mid-term business plan to be announced as early as February, it added. The company last month said it had struck a capital injection deal with chipmaker Qualcomm as it moves to repair its tattered balance sheet. AFP

 

Sony stops making PlayStation 2 in Japan

Japanese electronics giant Sony said it has stopped producing its PlayStation 2 (PS2) consoles in Japan, fuelling online rumours a PlayStation 4 is in the pipeline. Since launching in 2000 the PS2 has sold more than 150 million units worldwide, making it the best selling console of all time. It was so popular it outsold its replacement for the first three years. Shipments have been "completed" for the hardware of PS2, the Japanese website of Sony Computer Entertainment said with no further comment. The firm did not say what its plans were for production in other parts of the world. AFP

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Business Digest, January 2, 2013

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