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  • April 24, 2014
  • Last updated: 1:29am
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  1. Business - China Business - STOCKS

    Shareholders eye slice of Gome founder's cash

    Posted Apr 18th 2014, 01:17am by Enoch Yiu

    ... of mainland retailer Gome Electrical Appliances yesterday voted almost unanimously for the company to accept HK$420 million from its jailed founder and his wife as compensation for their misconduct ... of money but now with Wong in jail, the company's Hong Kong stores have been closed. It's very disappointing," she said. "Wong and his wife should pay compensation to small ...

  2. Business - Money - STOCKS

    Buy-back snaps Tencent's four-day losing streak

    Posted Apr 09th 2014, 01:40am by Sophie Yu

    ... hitting a HK$635 peak on March 6. The Shenzhen-based company that operates WeChat, the country's most widely used instant messaging application for smartphones, bought 153,000 shares ... Competition between internet companies on the mainland has been heating up. Alibaba, Tencent and Baidu have been aggressively acquiring companies to sharpen their competitiveness as well as expand ...

  3. Business - Money - STOCKS

    Strong rally fuels gamble on Tencent

    Posted Feb 22nd 2014, 01:15am by Sophie Yu

    ... company's shares almost doubled in value to end last year at HK$494.60, against HK$249 at the end of 2012. Shirley Kwok, a director and head of retail and listed product sales at BNP, said the bank ... Yelp. "Tencent is collaborating with companies in different industries, looking for a way to commercialise WeChat," Fan said. "Although it's difficult to forecast its share ...

  4. Business - Money - STOCKS

    Rakuten's Viber purchase sparks share sell-off

    Posted Feb 18th 2014, 04:34am by Bloomberg

    ... Bloomberg in Tokyo Rakuten's Viber purchase sparks share sell-off Shares in Rakuten, the Japanese online retailer controlled by billionaire Hiroshi Mikitani, plunged in Tokyo trading after the company announced plans to buy the Viber internet messaging and calling service for US$900 million. The deal adds to Rakuten's recent acquisitions of stakes in social-network ...

  5. Business - Companies - STOCKS

    Lenovo punished by downgrades over Motorola Mobility acquisition deal

    Posted Feb 05th 2014, 05:37am by Bloomberg

    ... of personal computers was downgraded by UBS, Morgan Stanley, Jefferies Group, JI-Asia Research and Kim Eng Securities. Lenovo chief executive Yang Yuanqing announced his company's two biggest ... margins than personal computers and giving it about 14 per cent of the market. The company then agreed to buy Motorola Mobility for US$2.91 billion in cash and stock, adding a brand established ...

  6. Business - China Business - STOCKS

    Shares in two mainland firms battered after reports

    Posted Nov 22nd 2013, 03:02am by Toh Han Shih

    ... of Prince Frog International and China Huirong Financial fell sharply yesterday in reaction to negative reports on the companies. Childcare product manufacturer Prince Frog's shares plunged 26 ... in the stock's history, with 238.93 million shares changing hands. The share price of Huirong, a mainland pawnshop company, fell 9.1 per cent to HK$1.69. On Wednesday night, Huirong announced ...

  7. Business - China Business - STOCKS

    China Cosco director quits amid probe

    Posted Nov 09th 2013, 01:53am by Toh Han Shih

    ... resigned because of "personal reasons". Shares in the company were earlier sold down after it admitted Xu was being investigated. Xinhua also reported yesterday, citing unnamed sources, ... as 6.9 per cent before closing down 5 per cent at HK$3.58, in one of the heaviest trading in weeks. In Shanghai, it dropped 3.85 per cent to 3 yuan (HK$3.81). Its sister company, Cosco Pacific, ...

  8. Business - Money - STOCKS

    Internet firms' dual-class shares are best avoided

    Posted Oct 22nd 2013, 03:27am by BLOOM

    ... Bloomberg Ownership without voting rights makes it too easy for bad managers to avoid accountability Internet firms' dual-class shares are best avoided When a company goes public, it must tell shareholders how it plans to govern itself. The new owners are promised a piece of the profits and a say in how the company is run. The standard arrangement for apportioning control ...

  9. Business - Companies - STOCKS

    Prince Frog's market value plummets after accusations of fake sales data

    Posted Oct 16th 2013, 03:37pm by Jeanny Yu

    ... yesterday after US short seller Glaucus Research said its sales data was fake. Headquartered in Zhangzhou, Fujian province, the company reported sales growth of 700 per cent from 2007 to last year, ... is that Prince Frog's actual sales were less than 25 per cent of the reported figures. For example, the company claimed to have sold 723 million yuan (HK$919 million) worth of children's ...

  10. Business - Money - STOCKS

    Push for Shanghai international board grows

    Posted Oct 14th 2013, 12:00am by Daniel Ren

    ... huge pool of funds. "Holding shares of top American companies such as Microsoft and Boeing is by all means better than buying United States treasury bonds," Lau said. "An international board could be a big help to Shanghai if the world's best companies are tradable in the city." The Shanghai Stock Exchange has been striving to establish an international board ...




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