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  • July 14, 2014
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  1. Police probe Citic Pacific's huge forex loss

    Posted Dec 14th 2008, 12:00am by Nick Gentle

    ... Nick Gentle Police are investigating whether unauthorised foreign exchange deals that have cost Citic Pacific more than HK$18 billion involved criminal activity. A well-placed source close ... that an investigation was under way. Previously they had said no complaint had been received. Citic Pacific issued a brief statement last night in response to inquiries from the Sunday Morning Post. ...

  2. Business - Money - REFORM

    After Citic, who’s next among Chinese state firms to take their mega deals to Hong Kong?

    Posted Apr 02nd 2014, 03:34pm by George Chen, Sandy Li

    ... on lookout for next S.O.E. deal Investors are keenly watching for the next state-owned enterprise to follow in the wake of Citic’s ground-breaking restructuring, in which Citic Pacific will mount ... Kwok-suen, a fund manager at Phillip Capital Management, said: "It is a guessing game who will be next. Citic Pacific's deal is to test the market waters." Additional reporting by Ray ...

  3. Citic Pacific appeal delays fraud probe

    Posted Apr 02nd 2011, 12:00am

    ... Naomi Rovnick Beijing-backed steelmaker and property developer Citic Pacific has delayed a Hong Kong police fraud probe by appealing a court ruling that investigators could access key evidence. Citic Pacific last month lost a lengthy legal battle to block the police investigation into its failure to disclose immediately a HK$15.5 billion derivatives loss in September 2008. Court ...

  4. Business - Money - COURTS

    Former Citic Pacific executive punished for insider trading

    Posted Nov 28th 2012, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Former Citic Pacific executive punished for using information about company's forex losses Inside trader jailed and fined A former senior executive of Citic Pacific was sentenced to 15 months' imprisonment and ordered to pay HK$1.25 million for insider dealing of the company's shares in 2008. Simon Chui Wing-nin, who ...

  5. Business - Comment - LAI SEE HOWARD WINN

    Clive Palmer's Citic Pacific suit adds to his China risk

    Posted Nov 21st 2012, 12:00am by Howard Winn

    ... but state-controlled Citic Pacific. Palmer is threatening to terminate Citic Pacific's rights to mine iron ore from the nearly completed US$8 billion Sino Iron project being built on Palmer's mining ... Citic Pacific is as near as it gets to suing the Chinese state, the chances of Palmer doing any further business with mainland entities after this must surely be remote. He is also unlikely ...

  6. Business - Companies - ANALYSIS

    Citic's mega takeover deal comes as win-win for Beijing and Hong Kong

    Posted Mar 28th 2014, 01:40am by George Chen

    ... about the company will not be made without approval by the very top-level mainland leaders. That is to say the asset purchase of Citic Group by Citic Pacific, the Hong Kong-listed ... thinking, such as letting the "son" (Citic Pacific) acquire its "father" (Citic Group in this case). Such a son-to-acquire-father-move is controversial in that it rarely happens ...

  7. Business - Banking & Finance - COURTS

    Ex-Citic Pacific executive guilty of insider trading

    Posted Oct 27th 2012, 12:00am by Joyce Man

    ... Joyce Man joyce.hyman@scmp.com Accused avoided losses by selling shares before company's profit warning Ex-Citic Pacific executive guilty of insider trade A former senior executive of Citic Pacific was convicted yesterday of selling shares in the firm before it issued a profit warning in 2008. Chui Wing-nin, who was then the firm's assistant director of finance, had ...

  8. Citic Pacific parent rules out disposal of assets

    Posted Nov 17th 2008, 12:00am by Eric Ng

    ... Eric Ng Citic Pacific, a state-backed conglomerate, has no imminent plan to sell its assets to shore up its finances after incurring more than HK$16.8 billion of paper loss on its soured foreign currency bets, according to Chang Zhenming, deputy chairman of its parent, Citic Group. Mr Chang's remarks came despite Citic Pacific saying last month that it was in initial talks ...

  9. Business - Companies - COURTS

    Ex-Citic Pacific exec Simon Chui stands trial for insider trading

    Posted Aug 29th 2012, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Former finance executive is accused of selling company shares before 2008 profit warning Ex-Citic Pacific exec stands trial for insider trading The securities watchdog is prosecuting a former Citic Pacific senior executive for insider dealing after he allegedly sold shares ahead of a profit warning in 2008, a Hong Kong court heard yesterday. ...

  10. Citic Pacific asks CIC to take 50pc stake in unit

    Posted Feb 05th 2009, 12:00am by Martin Zhou

    ... Daniel Ren in Shanghai and Martin Zhou in Beijing Embattled Citic Pacific has approached the mainland's US$200 billion sovereign wealth fund to take a 50 per cent stake in Citic ... negotiating with China Investment Corp, though it was uncertain whether a deal would eventually be sealed, sources said. Citic Pacific owns 50 per cent of Citic Capital, an investment and advisory ...




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