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  1. Building materials firms' debts soar amid infrastructure boom

    Posted Aug 31st 2010, 12:00am by Toh Han Shih

    ... their debt levels have risen sharply as they invest in property and new plant. During first-half 2009, BBMG's short-term debt jumped 154.8 per cent to 8.57 billion yuan (HK$9.79 billion), ... the sharp rise in debt, BBMG, which listed in Hong Kong last year, was able to get 80 billion yuan in credit facilities from Chinese banks about six months ago. 'The banks are bullish on our ...

  2. Oil price rise helps to boost Sinopec profit

    Posted Oct 29th 2010, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical (Sinopec), the nation's second largest oil and gas producer, posted a 14.8 per cent year-on-year rise in third quarter net profit on higher oil prices. Net profit was 19.62 billion yuan (HK$22.75 billion), up fr ...

  3. Debt issue plan lifts Star Cruises

    Posted Aug 12th 2009, 12:00am by Staff Reporter

    ... Neil Gough Star Cruises shares rose 8.7 per cent yesterday after Asia's biggest cruise line said it would sell US$150 million in convertible bonds to pay down debt. Separately, ... Cruises, which has not reported a net profit since 2005 and had US$466.96 million in long-term debt as of the end of last year, said it would use proceeds from the bond sale to fund general working ...

  4. Greentown faces potential default over bid to buy back US$400m debt

    Posted May 02nd 2009, 12:00am by Sandy Li

    ... Sandy Li Greentown China Holdings, which has adopted an increasingly common debt repurchase strategy, faces potential default on a US$400 million note if it fails on Monday to get support from bondholders to buy back the loan at a 15 per cent discount. The record is mixed on discount debt buy-backs. Asia Aluminum Holdings, Nine Dragons Paper (Holdings) and Las Vegas Sands Corp ...

  5. ENM's bond purchase sends shares surging

    Posted Feb 09th 2010, 12:00am by Charlotte So

    ... Charlotte So Shares of ENM Holdings- owned 34.59 per cent by the estate of Nina Wang Kung Yu-sum, once Asia's richest woman- surged yesterday on news that it had acquired convertible bonds in a mainland property developer near Beijing. The shares ros ...

  6. Minsheng Bank to focus on credit risks as bad-debt provisions rise

    Posted Aug 27th 2008, 12:00am by Staff Reporter

    ... and maintain healthy earnings growth. Impairment charges rose 66.77 per cent to 1.61 billion yuan (HK$1.83 billion) in the first half due to higher bad-debt provisions and investment write-downs, ... in bad-debt provisions and lower loan and profit growth in the second half due to the economic slowdown. The bank said it had already become cautious about lending to certain sectors, ...

  7. Kingboard surges on unit's spin-off plan

    Posted Jan 16th 2010, 12:00am by Charlotte So

    ... Charlotte So Shares in Kingboard Chemical surged more than 10 per cent yesterday after the producer of printed circuit boards said it would spin off its coke and coke-related chemical unit on the Hong Kong stock exchange. Kingboard closed 10.67 per cent h ...

  8. Lenders see profits drop 18pc ahead of tough year

    Posted Nov 15th 2008, 12:00am by Staff Reporter

    ... in the third quarter from 2 per cent in the first and 1.84 per cent in the second. There are also signs of deteriorating asset quality as the bad-debt ratio rose to 0.96 per cent in the third quarter ...

  9. Xinyu Hengdeli raising HK$888m in share sale

    Posted Jun 25th 2009, 12:00am by Staff Reporter

    ... Tim LeeMaster and Wong Ka-chun Xinyu Hengdeli Holdings, the largest watch retailer on the mainland, is raising as much as HK$887.76 million from the sale of mostly new shares. The Shanghai-based company is selling 236 million new shares with the option to ...

  10. Investor pull-out plan behind Shui On unit buyout

    Posted Apr 03rd 2009, 12:00am by Sandy Li

    ... Sandy Li Shui On Construction and Materials (Socam) decided to make an offer to privatise a London-listed unit after some institutional shareholders expressed an intention to cash out, chairman Vincent Lo Hong-sui said. Mr Lo said details of the buyout pl ...




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