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  • October 21, 2014
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  1. Business - Commodities - LEGAL

    China Resources Power bosses deny coal mine-purchase fraud accusation

    Posted Aug 20th 2013, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com China Resources Power chiefs deny irregularities Senior executives of China Resources Power maintain they are not aware of any irregularities concerning ... quality coal. China Resources Power's investment in them was not in conflict with its goal of enhancing coal self-sufficiency, since it could "swap" output with other coal miners ...

  2. Business - Money - MERGERS

    China Resources Power shares surge on failed deal

    Posted Jul 22nd 2013, 02:43pm by Charlotte So

    ... surge on failed deal Shareholders of China Resources Power saw HK$4 billion added to the value of their holdings yesterday as the company's stock jumped 5 per cent after a merger deal with China Resources Gas lapsed. Some 64 per cent of CR Power's independent shareholders voted against the deal yesterday, in a result widely expected. The company is banned from trying ...

  3. News - China - INVESTIGATION

    Beijing launches audit of China Resources

    Posted Jul 20th 2013, 12:00am by Eric Ng

    ... in the acquisition of three coal mines and related assets by China Resources' subsidiary China Resources Power Holdings (CRP) in early 2010. A joint venture 49 per cent-controlled by CRP bought an 80 ... Eric Ng eric.mpng@scmp.com Beijing launches audit of China Resources Beijing has launched an audit of China Resources (Holdings) after top managers of the conglomerate's electricity ...

  4. Business - Companies - GOVERNANCE

    China Resources investors await answers after overpaying accusation

    Posted Jul 24th 2013, 12:00am by Eric Ng

    ... Eric Ng in Taiyuan eric.mpng@scmp.com Sources say asset valuations used by buyers to justify prices amid doubts about impartiality of mine appraisers China Resources investors await answers Nearly a week after a whistle-blower publicly accused the management of China Resources Power of negligence in a major acquisition of coal assets, investors are nowhere nearer to learning ...

  5. News - China - CORRUPTION

    China Resources mining deal probed by anti-graft watchdog

    Posted Jul 18th 2013, 04:48pm by Eric Ng, Kwong Man-ki

    ... Eric Ng and Kwong Man-ki in Beijing Party watchdog considers graft claim against chairman Song Lin China Resources mining deal probed The Communist Party's anti-graft watchdog said yesterday it was processing a whistle-blower's complaint about alleged negligence in an acquisition by China Resources Power Holdings (CRP), as the company hit back. The People's Daily ...

  6. Business - China Business

    China Resources needs to win over merger sceptics

    Posted Jun 10th 2013, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com China Resources needs to win over merger sceptics Independent shareholders of China Resources Power (CRP) and sister firm China Resources Gas (CRG) are unlikely ... Huaneng Power International. The merger would see every 100 CRG shares exchanged into 97 newly issued CRP shares, after which CRG would be delisted. The offer to CRG shareholders is 12.8 per cent ...

  7. Business - Companies

    Falling fuel cost lifts hopes for China Resources Power

    Posted Mar 19th 2013, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Electricity firm income jumps 68 per cent after power price rises to beat forecasts Falling fuel cost lifts hopes for CR Power China Resources Power expects this year's fuel cost per unit of output to fall at least 5 per cent while electricity price will be stable, which will bode well for its profitability. The electricity arm of state-backed China ...

  8. Business - China Business - LAWSUITS

    Court to hear case against CRP bosses

    Posted Oct 08th 2013, 12:00am by Eric Ng

    ... against CRP chiefs The Hong Kong High Court will today hear a petition by six minority shareholders of China Resources Power demanding the company sue its directors for alleged breach of fiduciary ... permits to Taiyuan China Resources Coal, a joint venture led by CRP. According to the asset transfer agreement signed in May 2010, seller Shanxi Jinye was to obtain and transfer the permits within ...

  9. Business - Companies

    China Resources Power surprises with H1 profit up almost 80pc

    Posted Aug 19th 2013, 12:35pm by Staff Reporter

    ... Staff reporter China Resources Power Holdings (CRP), which is embroiled in controversy over a 2010 coal mining investment deal, posted a forecast-beating 78 per cent jump in interim profit ... International’s 13per cent gain. The drop was related to its merger proposal with sister firm China Resources Gas that was rejected last month by shareholders, as well as a controversial 7.9 billion yuan ...

  10. Business - Companies

    China Resources Power shares tumble on graft claims

    Posted Jul 17th 2013, 11:09pm by Reuters

    ... Reuters in Hong Kong Shares in China Resources Power Holdings tumbled 10 per cent on Wednesday in what brokers said was a response to comments in Chinese media alleging corruption in the state-run electricity producer. In Hong Kong, six minority shareholders of the company filed a lawsuit against former and existing executives of China Resources Power for what they said was faulty ...




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