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  • April 17, 2014
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  1. Business - Commodities - EARNINGS

    Sinopec details sale plan of fuel unit

    Posted Mar 25th 2014, 01:32am by Eric Ng

    ... plan of fuel unit China Petroleum & Chemical (Sinopec) aims to complete by the third quarter a fund-raising exercise for its fuel marketing operations to help cut debt, fund shale gas ... marketing operation to non-state entities. The decision is seen as an answer to Beijing's call for state firms in monopolistic industries to invite private participation in their operations ...

  2. Business - Commodities - EARNINGS

    Profit at power firm Datang dragged down by coal-to-chemicals unit

    Posted Mar 27th 2014, 12:58am by Eric Ng

    ... unit of China Datang Group is one of the five state-owned national power generation groups and its coal-to-chemicals operation was a factor in dragging down profits in 2013. Excluding a 241.5 ... Eric Ng eric.mpng@scmp.com Coal-to-chemicals unit drags down Datang profit Datang International Power Generation posted an underlying pre-tax profit growth of 54 per cent for last year, ...

  3. Business - Companies - EARNINGS

    Noble Group's net dives 48pc on loss in agriculture unit

    Posted Feb 22nd 2014, 01:15am by Charlotte So

    ... Charlotte So charlotte.so@scmp.com Noble net dives 48pc on loss in agriculture unit Noble Group, a Hong Kong-based grain and energy product supply chain manager, reported a 48 per cent drop in net profit last year as its agriculture business sailed into the red on a drop in sugar prices and low crushing margins on oilseeds in South America. The net profit ...

  4. Business - Commodities - EARNINGS

    Nexen costs eat into CNOOC profit

    Posted Mar 29th 2014, 01:13am by Eric Ng

    ... last year. The state-backed firm, China's dominant offshore oil and gas producer, reported a net profit of 56.46 billion yuan (HK$71 billion), down 11.4 per cent from 2012, and 10.9 per ... out of control." Total operating cost per unit of output surged 26 per cent to US$45 a barrel of oil equivalent, while average oil selling price fell 5.3 per cent to US$104.60 a barrel. ...

  5. Business - China Business - EARNINGS

    Strong BMW venture sales lift Brilliance China profit 47 per cent

    Posted Mar 28th 2014, 01:40am by Kwong Man-ki

    ... by contributions from BMW Brilliance, the 50-50 joint venture with German carmaker BMW. Profit from the venture rose 47.7 per cent to 3.4 billion yuan, with car sales up by 28.5 per cent to 206,729 units ... by 28.4 per cent to 265,400 units, and 306,300 units next year, he said in a research note. Wu Xiaoan, the chairman of Brilliance China, said the BMW joint venture continued with its expansion ...

  6. Business - China Business - EARNINGS

    Component supplier AAC bets on broader product line to boost sales

    Posted Mar 26th 2014, 06:34am by BIEN PEREZ

    ... performance had been "underpinned by strong seasonality and improving economies of scale". Barclays forecast global smartphone unit shipments would increase 25 per cent to 1.17 billion this year, while technology research firm IDC predicted worldwide tablet shipments to jump 19 per cent to 260.9 million units. Strategy Analytics estimated the global shipments of so-called ...

  7. Business - Companies - EARNINGS

    Aluminium producer Rusal posts US$3.2b loss

    Posted Mar 29th 2014, 01:13am by Reuters

    ... billion, said it has completed restructuring negotiations with state lender Sberbank on US$4.9 billion of debt and Gazprombank on US$660 million. It was in advanced talks on US$3.7 billion ...

  8. Property - Hong Kong & China - EARNINGS

    Country Garden targets 20pc rise in contracted sales

    Posted Mar 13th 2014, 01:23am by Langi Chiang

    ... Langi Chiang langi.chiang@scmp.com Country Garden targets 20pc sales increase Country Garden, a Guangdong-based developer, hopes to increase contracted sales by more than 20 per cent to 128 billion yuan (HK$161 billion) this year, while also expanding in overseas markets such as the United States and Canada, senior executives said yesterday. That growth would represent ...

  9. Business - China Business - EARNINGS

    Weaker demand and competition hit China Eastern

    Posted Mar 28th 2014, 01:40am by Keira Lu Huang

    ... cabins, China Eastern is eyeing the low-cost flight business. With its subsidiary China United Airlines moving into the second airport in Beijing, the company is considering the potential ...

  10. Business - Companies - EARNINGS

    Luxury menswear group Trinity cautious amid China economic slowdown

    Posted Mar 15th 2014, 01:54am by TIFFANY AP

    ... stores in the United States such as Bloomingdales and Nordstrom, as well as in Britain. This differs from fellow luxury group Prada, which said last year that it would pull back from US ...




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