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  • August 30, 2014
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  1. Billions gone missing

    Posted Mar 25th 2011, 12:00am by Staff Reporter

    ... Staff Writer Five billion yuan (HK$6 billion) is missing from the accounts of the Beijing-Shanghai high-speed railway project. Rail minister Liu Zhijun was fired from his job last month and is under investigation for disciplinary issues. Around 187 million yuan has been embezzled- a kind of financial fraud- and the rest has been lost on illegal tendering, bad money management and fake ...

  2. Outcry after rail official escapes execution

    Posted May 15th 2006, 12:00am by Cary Huang

    ... of the Railways Bureau in Wuhan, for hiring criminals to kill a person who revealed four years ago that he was corrupt. Liu, the 50-year-old younger brother of Minister of Railways Liu Zhijun, was also found guilty of embezzling public funds and accepting bribes. The case has sent shockwaves throughout the mainland's railway sector. In November, Liu Zhijun was quoted as saying he wanted ...

  3. Disgraced minister had sex with TV stars, report says

    Posted Mar 02nd 2011, 12:00am by Fiona Tam

    ... Fiona Tam Mainland media continued yesterday to publish juicy details of disgraced former railways minister Liu Zhijun's mistresses, with one report saying a businesswoman linked to the scandal had arranged for Liu to have sex with television stars. A report by the outspoken New Century magazine said Shanxi businesswoman Ding Shumiao- whose dealings with Liu are said to have led ...

  4. Rail firms hit by minister's downfall

    Posted Feb 24th 2011, 12:00am by Toh Han Shih

    ... Toh Han Shih Chinese railway companies saw their share prices dragged lower by the downfall of railway minister Liu Zhijun. Since February 14, shares of Midas Holdings plunged 21.1 per cent to HK$4.40 despite the Hong Kong and Singapore-listed firm winning two contracts totalling 83.5 million yuan (HK$98.7 million) in Turkey and Malaysia, while CSR Corp fell 10.7 per cent ...

  5. Cautious developers bid low for Beijing sites

    Posted Oct 09th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu Tenders for four residential sites in Beijing yesterday were lower than expected, showing that mainland developers remain cautious about land acquisitions. The capital's municipal government received three bids for a budget housing site in the city's Daxing district. All of the offers were lower than the government's opening bid of 480 million yuan (HK$547 ...

  6. Cheung Kong slashes prices of Beijing project

    Posted Nov 12th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu Cheung Kong (Holdings) has slashed prices for a luxury residential project in Beijing in response to the slowing property market. Hong Kong's largest developer by market value launched its La Grande Villa project last week at an average of 18,108 yuan (HK$20,572) per square metre, 40 per cent lower than the indicative price in July. It would be the first luxury ...

  7. KWG earnings soar to 2.68b yuan

    Posted Mar 27th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu Guangzhou-based KWG Property Holding yesterday reported that underlying profit surged 1,640 per cent last year, due to the growth in property prices and saleable floor area of its projects. Excluding property revaluation gains, underlying profit rose to 967 million yuan (HK$1.07 billion). Turnover soared 490.9 per cent to 3.86 billion yuan, compared with 654 million ...

  8. Beijing North Star aims to raise 3b yuan to fund projects

    Posted Mar 07th 2008, 12:00am by Yvonne Liu

    ... Beijing North Star, a Hong Kong-listed property developer owned by the municipal government, plans to raise up to three billion yuan (HK$3.29 billion) from the capital market to finance further development. The developer's up to 1.7 billion yuan bond ...

  9. Beijing accepts No2 bid for site

    Posted Jan 08th 2008, 12:00am by Yvonne Liu

    ... Yvonne Liu and Fulton Mak Hong Kong-listed Hopson Development Holdings bought a mixed-use site in Beijing for 698 million yuan, the second-highest bid for the plot. The acceptance of the lower bid is seen as a sign of Beijing's resolve to contain rising prices, according to analysts. The 260,382 square metre site is one of three plots in Beijing's Tongzhou district ...

  10. Developers from HK cash in on restraints

    Posted Dec 19th 2007, 12:00am by Yvonne Liu

    ... Fulton Mak and Yvonne Liu Beijing credit curbs hurt mainland firms Hong Kong developers such as Sun Hung Kai Properties are seizing the advantage from their mainland rivals whose land bank acquisitions are being constrained by Beijing's tightened credit policies. With no competition, Sun Hung Kai Properties won a 12.1 million square foot commercial-residential site in Chengdu ...




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