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  1. Citic Pacific falls 27pc amid currency fears

    Posted Oct 28th 2008, 12:00am by Carol Chan

    ... Carol Chan Citic Pacific, the embattled mainland conglomerate, lost another HK$3.07 billion of market value yesterday amid the tumbling stock market, higher foreign-currency losses ... from unauthorised currency bets made by its finance director. With the falling Australian dollar, the company's potential losses would be bigger than estimated. The Australian dollar fell ...

  2. Currency bets may cost Citic Pacific HK$15.5b

    Posted Oct 21st 2008, 12:00am by Carol Chan

    ... as HK$15.5 billion from unauthorised currency bets taken out by its finance director. The red-chip conglomerate will report a loss for this year, erasing the HK$4.38 billion profit it made in the first-half, chairman Larry Yung Chi-kin said yesterday. The losses relate to currency hedges carried out as part of the company's investment in an Australian iron ore mine. Trading ...

  3. Gold producers shoot up after bullion surges to 3-month high

    Posted Jun 02nd 2009, 12:00am by Carol Chan

    ... Carol Chan Shares of Hong Kong-listed gold producers jumped more than 10 per cent yesterday as bullion prices climbed to the highest in more than three months earlier in the session and investors pumped more money into the stock market. The biggest gainer ...

  4. Chalco shares shrug off report of 2b yuan loss

    Posted Dec 19th 2008, 12:00am by Carol Chan

    ... Carol Chan Shares in Aluminum Corp of China (Chalco) rose for the fourth straight day yesterday, shrugging off a report that the mainland's biggest alumina and aluminium producer took 2.05 billion yuan (HK$2.33 billion) of losses in October and last ...

  5. Steelmakers looking to poor earnings season

    Posted Oct 14th 2008, 12:00am by Carol Chan

    ... Carol Chan Maanshan Iron & Steel will probably announce today a smaller third-quarter profit from the previous quarter, kicking off a disappointing earnings season for mainland steelmakers hit by weakening demand, analysts said. Mainland steelmakers&# ...

  6. Baosteel warns of rising costs, slowing demand

    Posted Aug 29th 2008, 12:00am by Carol Chan

    ... Carol Chan Baoshan Iron and Steel (Baosteel), the mainland's largest steelmaker, has warned that the industry will face higher costs and slower demand growth for the rest of the year. The company issued the warning yesterday after reporting a better ...

  7. Zijin Mining profit rises 45pc to 1.7b yuan on record gold prices

    Posted Jul 29th 2008, 12:00am by Carol Chan

    ... Carol Chan Zijin Mining Group, the mainland's largest gold producer by market value, said first-half profit surged 45 per cent amid record gold prices. Net profit for the six months to June rose to 1.74 billion yuan (HK$1.99 billion) from 1.2 billion ...

  8. Profit warning triggers Hunan Nonferrous dive

    Posted Aug 08th 2008, 12:00am by Carol Chan

    ... Carol Chan Shares in Hunan Nonferrous Metals Corp, the mainland's biggest zinc and tungsten producer, fell as much as 13.07 per cent yesterday to the lowest since it went public more than two years ago after the company issued a profit warning. The s ...

  9. A case of I thrill you later for Citic

    Posted Jul 29th 2009, 12:00am by Carol Chan

    ... the company's parent, Citic Group, could be poised to make a mountain of money from those initially bad investments it was forced to take over. The reason: a rebound in the Australian currency. When ... Pacific stake. 'Citic Group could grab a handsome profit because of the recent surge in the Australian dollar, but its risks are also high, as you don't know where the currency ...

  10. SFC investigates entire board of Citic Pacific

    Posted Jan 03rd 2009, 12:00am by Carol Chan

    ... Carol Chan Citic Pacific, which has predicted it may lose HK$18.6 billion from unauthorised currency bets, has revealed that its entire board of directors is being investigated ... involvement in the unauthorised foreign currency bets, was not named in the announcement as she is not a board member. Ms Yung was listed as 'director, group finance' in the company's ...




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