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  • September 17, 2014
  • Last updated: 9:26am
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  1. News - China - CORRUPTION

    Wang Shuaiting latest head to roll in China Resources graft investigation

    Posted May 16th 2014, 11:44pm by Staff Reporters

    ... of China Resources Land, was also detained. A senior China Resources Power executive said he was surprised by news of Wang Shuaiting's detention, saying he was a talented manager who reached ... Staff Reporters Wang Shuaiting under investigation for violating law and party discipline Another head rolls in China Resources probe Wang Shuaiting, the chairman of the listed subsidiary ...

  2. 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 ...

  3. Business - Commodities - ENERGY

    Wind power and equipment maker shares slide 6pc by midday

    Posted Sep 15th 2014, 02:32pm by Eric Ng

    ... to wind farms in regions with better resources. An official at a Hong Kong-listed mainland power generator confirmed the details of the consultation to the South China Morning Post. "Every ... regulator is consulting participants on cutting power prices by an average 6 per cent on wind farms that start operation from the middle of next year or later. State-backed China Longyuan Power ...

  4. 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 ...

  5. 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 ...

  6. News - China - ACQUISITION

    China Resources Power mining deal to be completed 'within 20 days'

    Posted Aug 09th 2013, 12:00am by Eric Ng

    ... to be completed in 20 days The controversial 7.9 billion yuan mining rights deal at the heart of corruption allegations against state-backed China Resources Power is expected to be completed in 20 days. ... of state-backed China Resources (Holdings), the parent of CRP. The retail-to-energy giant is 187th on Fortune magazine's Global 500 list this year. It reports to the central government, making ...

  7. News - China - COURTS

    Whistle-blower files ICAC complaint over alleged graft at China Resources Power

    Posted Aug 05th 2013, 07:48pm by Eric Ng

    ... investigators about alleged irregularities and corruption in a mining assets purchase by China Resources Power Holdings (CRP). He also made fresh allegations against former CRP chairman Song Lin ... is chairman of state-backed China Resources (Holdings), parent of CRP. The retail-to-energy giant is 187th on Fortune magazine's Global 500 list this year. It reports to the central government, ...

  8. Business - Companies - COURTS

    More questions raised in CRP case

    Posted Aug 05th 2013, 12:00am by Eric Ng

    ... by management of China Resources Power in the firm's 2010 acquisition of coal-mining assets in Shanxi province has grown murkier. Official documents show that exploration rights of two mines were ... pledged its 20 per cent stake in the venture to China Resources SZITIC Trust, 51 per cent-owned by CRP's parent China Resources (Holdings). The pledged assets backed a 2.62 billion yuan loan ...

  9. Business - Commodities - METAL TRADING

    China taps Singapore in push to boost pricing power in metals

    Posted Aug 15th 2014, 11:31am by Reuters

    ... of Western banks from the global commodities trading business. China has long sought more pricing power in commodities as it is the largest consumer of many resources, including copper and iron ore, ... by sprawling metals conglomerates, including top Chinese trading house Maike Metals Group, are among those that have set up a base in Singapore. Awin Resource International, owned by a Chinese ...

  10. Business - Companies - ENERGY

    CRP shareholders set to reject CRG merger

    Posted Jul 22nd 2013, 12:00am by Eric Ng

    ... set to reject CRG merger A proposal to merge China Resources Power Holdings (CRP) and sister firm China Resources Gas Group (CRG) is unlikely to win CRP shareholders' support today, regardless of allegations of management negligence on a coal assets investment, analysts say. That is because the merged entity plans to engage in higher-risk upstream natural gas resources ...




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