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  1. Ping An falls 9.9pc to 6-month low after Cheng buys stake

    Posted Mar 19th 2011, 12:00am by Amanda Lee

    ... Amanda Lee Shares of Ping An Insurance (Group) dropped to a six-month low yesterday after this week's controversial share placement with Cheng Yu-tung, with questions being raised ... Fook which is controlled by Cheng, bought 272 million shares for HK$19.45 billion, or HK$71.50 per share. The placement price was at a 12.5 per cent discount to market price. According ...

  2. Cheng weighs in for regular land sales

    Posted Mar 29th 2006, 12:00am by May Chan, Peggy Sito

    ... Peggy Sito and May Chan New World chief says auctions should be held twice a month New World Development chairman Cheng Yu-tung yesterday joined a chorus of smaller developers urging ... cent of the government's reserve price. Mr Cheng's comments came as Secretary for Housing, Planning and Lands Michael Suen Ming-yeung told legislators land supply was adequate ...

  3. Poor terms

    Posted Jun 16th 2012, 12:00am

    ... Albert Cheng The new lease for Ocean Terminal was signed this week. Before the old lease was up, the government announced last week that it would extend it for another 21 years and Wharf ... for Development Carrie Lam Cheng Yuet-ngor could talk her way out of this. Even if we focus only on the additional floor area of 260,000 square feet, just rents alone at, say, HK$300 per square foot per ...

  4. New World eyes speedy growth with 5-year plan

    Posted Apr 20th 2012, 12:00am

    ... a professional team led by the group's chairman, Henry Cheng Kar-shun, the son of the group's founder, Cheng Yu-tong, to ensure the strategic plan gets implemented. 'We want the company ... two months, Chen said. In late February, property tycoon Cheng Yu-tung, 86, announced he was retiring as chairman and executive director of New World, which he founded in 1970, and would ...

  5. Sell in May and go away? You'd be lucky to break even with this index-linked legend

    Posted May 14th 2012, 12:00am

    ... eluded professional traders with vastly more resources, they might consider a scheme with a more local flavour: the 'Adam Cheng Effect'. With its tongue firmly in cheek, CLSA put out research in 2004 that picked up on this theory, which linked declines in the Hong Kong market to appearances by actor Adam Cheng Siu-chow on local television. CLSA noted that Hongkongers blamed ...

  6. Giordano shares surge as tycoon raises stake

    Posted May 31st 2011, 12:00am

    ... Celine Sun in Beijing celine.sun@scmp.com Shares in Giordano International jumped to a record high yesterday after tycoon Cheng Yu-tung increased his stake in the casual wear retailer ... cents. Investors grew bullish after billionaire Cheng, chairman of New World Development and owner of jewellery chain Chow Tai Fook, raised his stake to 16.2 per cent after buying 17.8 million ...

  7. Air China cash call sparks 5.9pc rise in share price

    Posted Apr 28th 2012, 12:00am

    ... issue is not a lot for a carrier but it still will help to relieve some debt stress,' said Geoffrey Cheng, an analyst with Bocom International. Last year, Air China's interest bill for its bank loans was 1.8 billion yuan. Cheng said shares had risen largely because they were playing catch-up with the stock prices of other airliners. 'During the week its trading ...

  8. Cutback in projects after a not so glorious return

    Posted Feb 07th 2012, 12:00am

    ... to meet its sales target last year because of sluggish market conditions. Cheng Lixiong, chief executive officer and executive director, said the move could help save about 1 billion yuan (HK$1.22 ... year, the group set a target of two million square metres for their construction area and 15 billion yuan in sales, he said. But it only secured 13.32 billion yuan in sales revenue, Cheng said. ...

  9. New World banks on quality projects

    Posted Mar 01st 2012, 12:00am

    ... five-year plan, the company will complete projects with a total gross floor area of 6 million square feet over the period. The projects will be released on the market from this year. Henry Cheng Kar-shun, who is taking over from his father, Cheng Yu-tung, as chairman of the company (see report below), said: 'We hope to achieve a double-digit growth in turnover each year by a stable ...

  10. ENN pays Citi for funds for China Gas bid

    Posted Mar 29th 2012, 12:00am

    ... over gas distributor China Gas Holdings, even though its success is uncertain amid opposition from China Gas managers and staff. ENN's chief financial officer, Wilson Cheng Chak-ngok, said ... a commitment fee of 10 million yuan every three months after the loan is arranged. Cheng said ENN was still trying to persuade China Gas's management to have a direct conversation or meeting ...




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