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  • July 30, 2014
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  1. 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 ...

  2. News - China - CORRUPTION

    China Resources shares slide as chairman Song Lin is sacked and faces corruption probe

    Posted Apr 22nd 2014, 11:51pm by Eric Ng, Zhuang Pinghui, Andrea Chen

    ... Eric Ng, Zhuang Pinghui and Andrea Chen Subsidiary China Resources Power sees the sharpest slump after parent company's former chairman is investigated for corruption Shares slide ... conglomerate's former chairman, Song Lin, had been sacked and the mainland's graft watchdog had started investigating him for corruption. China Resources Power (CRP), the largest of the five ...

  3. 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 ...

  4. Business - China Business - COMPANY PROFILE

    The colourful mainland and Hong Kong history of graft-hit China Resources

    Posted Apr 23rd 2014, 12:50am by Eric Ng

    ... and invested in the retailing, property, power generation and infrastructure sectors in the 1980s and 1990s. Its first listed company, retailing-to-brewing conglomerate China Resources Enterprise, ... units, three of which- China Resources Enterprise, China Resources Power and China Resources Land- are constituents of the Hang Seng Index. It also has six mainland-listed units. China Resources ...

  5. 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 ...

  6. 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, ...

  7. 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 ...

  8. News - China Insider - GRAFT

    British developer in soured China Resources deal hopes graft probe could restore his freedom

    Posted May 05th 2014, 03:53pm by Patrick Boehler

    ... and courts have informed him verbally that China Resources was too powerful in the province to be challenged. Local officials told him they did not dare to help him, he said. China Resources and its ... freedom. Central Commission for Discipline Inspection investigators are currently scouring China Resources (Holdings) Company Limited, a state-owned conglomerate, and the administration of Hainan ...

  9. 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 ...

  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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