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  • September 2, 2014
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  1. Transport minister rejects tunnels buyout

    Posted Oct 25th 2008, 12:00am by Anita Lam

    ... billion to HK$3 billion for Citic's stake in the Western tunnel, and up to HK$5 billion for 71 per cent of the shares in New Hong Kong Tunnel Company, which manages the Eastern Harbour ... Anita Lam Transport Secretary Eva Cheng has rejected a proposal by the deputy chairman of Legco's transport panel to buy Citic Pacific's stakes in the Eastern and Western harbour ...

  2. Buy stakes in two tunnels, say lawmakers

    Posted Oct 23rd 2008, 12:00am by Anita Lam

    ... Anita Lam The government should take advantage of Citic Pacific's weakened bargaining position and buy back the firm's stakes in the Eastern and Western harbour tunnels ... cross-harbour tunnels. The government should abandon the study and instead buy Citic's stakes in the two private companies that manage the Eastern and Western tunnels, Mr Cheng said. He suggested ...

  3. In Brief

    Posted Nov 20th 2008, 12:00am by Staff Reporter

    ... for ex gratia payments of HK$15.93 million and HK$14.07 million respectively. Lawmakers propose ways to cut cross-harbour tunnel tolls Lawmakers have passed a motion urging the government to lower the tolls at the Eastern and Western harbour tunnels by buying out the tunnel companies, extending their franchises or buying some of their shares in exchange for tunnel ownership. ...

  4. Hunt for helicopter door hampered by harbour mud

    Posted Aug 06th 2003, 12:00am by Simon Parry

    ... the Kowloon entrance to the Western Harbour tunnel on Sunday. Accident investigators are keen to trace the sliding door to find out exactly why it fell off as the chopper climbed from the Central ... Divers are doubtful about finding missing component, which fell off mid-flight The cabin door of a $79 million rescue helicopter that fell off as it flew over Victoria Harbour was last ...

  5. NWS counts on China toll roads to drive profits

    Posted Mar 15th 2005, 12:00am by Denise Tsang

    ... million, executive director Tsang Yam-pui said rising oil prices and tunnel fees added pressure for higher fares at New World First Bus and Citybus franchised bus services. 'We face higher pressure to raise fares as we have 11 [First Bus] routes and 10 Citybus routes passing the Eastern Harbour Crossing, which will raise the tunnel fee by 67 per cent on May 1,' Mr Tsang said. Mr ...

  6. Lai See

    Posted Nov 07th 2008, 12:00am by Ben Kwok

    ... to service its HK$3.65 billion debt. The firm has confirmed initial talks to sell car trading subsidiary Dah Chong Hong Holdings. It could also offload its stakes in Western Harbour Tunnel and Eastern Harbour Tunnel, and there is talk of HKR International seeking a loan to buy out Citic Pacific's 50 per cent stake in Discovery Bay. Citic Group, which owns 29 per cent of Citic ...

  7. SFC urged to launch Citic Pacific probe

    Posted Oct 22nd 2008, 12:00am by Dennis Eng

    ... headquarters, Citic Tower, in Central 1996 Citic cuts stake in Hong Kong Dragon Airlines to 28.5 per cent 1997 Firm increases its interest in Eastern Harbour Crossing to 64 per cent from 28.48 per cent, ... Festival Walk in Kowloon Tong with Swire Group, wins the franchise to build and operate the Western Harbour Crossing, and acquires 10 per cent of Hong Kong Air Cargo Terminals 1994 Citic buys ...

  8. A good deal for Li Ka-shing but an ugly warning for HK

    Posted Aug 19th 2010, 12:00am by Tom Holland

    ... with Tom Holland When the Channel Tunnel first opened back in 1994, the undersea link between the European continent and Britain was rightly hailed as an engineering marvel. But for Brits, ... and the windows would black out as it entered the tunnel. After another 20 minutes you would burst back into the light to find yourself in England, and the train would slow down again- right down. ...

  9. China Eastern seeks new investors

    Posted May 22nd 2010, 12:00am by Charlotte So

    ... Charlotte So China Eastern Airlines Corp is to resume talks with potential strategic investors as the Shanghai-based carrier needs more cash to lower its debt levels, chairman Liu Shaoyong ... cent gearing ratio of rivals Air China and China Southern Airlines. The high debt level, on top of a thin profit margin, has reduced China Eastern to a debt-paying machine instead ...

  10. China Eastern targets 4b yuan from Expo

    Posted Jan 26th 2010, 12:00am by Charlotte So

    ... Charlotte So The Shanghai World Expo that opens in May is expected to bring in four billion yuan (HK$4.55 billion) in additional income and five million extra passengers to China Eastern ... to the Expo,' Ma Xunlun, an executive director of the Shanghai-based carrier, told the China Business News yesterday. China Eastern will absorb rival Shanghai Airlines this month and increase its market ...




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