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  • November 22, 2014
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  1. Burwill net jumps amid weak demand

    Posted Oct 13th 2008, 12:00am by Carol Chan

    ... economic activity slows, according to a top executive. 'Our business model ensures immunity from market volatility and our strong balance sheet has enabled us to expand our business at a time ... of between just 1.5 and 2.5 per cent, said Mr Kwok, and since the business was capital-intensive, a key to survival was managing price risks and inventory levels. With more than 50 years ...

  2. Shanghai Industrial sells non-core businesses for HK$2.86b

    Posted Jul 28th 2009, 12:00am by Carol Chan

    ... it will focus on its core businesses. The flagship of eastern China's economic hub sold its 8.21 per cent stake in Semiconductor Manufacturing International Corp (SMIC) to its parent company, ... and property projects. Both SMIC and Bright Dairy posted losses last year. SMIC reported a net loss of US$440.23 million for last year, ballooning from a net loss of US$19.47 million in 2007. Bright ...

  3. Sinopec unit expects more woes from oil costs

    Posted Sep 02nd 2008, 12:00am by Carol Chan

    ... 11, are trading at about US$115. Mr Rong said prices had to fall to US$100 per barrel for his company's refining business to break even. 'We wish the government could issue ... net cash inflows to dwindle. Profit line The price of oil per barrel for the refining business to break even, in US$: $100 ...

  4. Jacky Chun gets dirty and turns scrap into gold

    Posted Aug 17th 2009, 12:00am by Carol Chan

    ... officials wondered how the business could make money and how it would help the government reduce waste. We needed to sell them the environmental protection concept so we brought them to the US ... a HK$9.68 billion business empire. China Metal is the country's biggest scrap metal recycler with annual revenue of HK$6.5 billion last year. It is also the first scrap metal recycler listed ...

  5. China Metal looks to expand through M&As

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

    ... investment required in this industry is not large, but it needs huge working capital. As a result of the listing, we have gained a financing platform that will help us further expand our business,' said Mr Chun. Beijing's growing awareness of energy conservation and environmental protection and the introduction of supportive measures would help the industry develop, he said. ...

  6. Chinalco in talks to buy assets from Rio Tinto

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

    ... to US$15 billion. Chinalco is willing to put more money into Rio Tinto despite its investment last year in the foreign mining company having so far lost about 75 per cent amid a plunge in commodity prices. 'Rio Tinto confirms it has held discussions with Chinalco regarding Chinalco acquiring minority interests in various operating businesses of Rio Tinto and also investing ...

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

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

    ... businesses. Its parent company Citic Group would help to arrange a standby loan facility of US$$1.5 billion and the company itself had HK$8 billion cash on hand, he said. ... out to be a wrong move, with the Australian dollar falling about 17 per cent against the US dollar since the middle of last month amid the global financial meltdown. Mr Yung admitted ...

  8. Asia Aluminum creditors face ultimatum

    Posted Jun 17th 2009, 12:00am by Carol Chan, Naomi Rovnick

    ... launch legal action to remove Asia Aluminum from liquidation and find alternative buyers for business April 30 Asia Aluminum executives offer US$475 million for company. Bondholders and hedge ... wrote to international investors, who lent Asia Aluminum US$985 million, asking them to support the deal or face legal action. Under the deal, foreign investors will only recoup between 1 cent ...

  9. Citic Pacific in good form after revised hedges

    Posted May 26th 2009, 12:00am by Carol Chan

    ... into genuine hedges to match the needs of our iron ore business,' Chang Zhenming said. Mr Chang said Citic Pacific was seeking a new managing director. He also said the company had no plans ... Pacific had sufficient funds for its 15 billion yuan (HK$17.04 billion) investments that are earmarked for its special-steel business and Australian iron ore project over the next two years. ...

  10. State secrets allegation in Rio case dropped

    Posted Aug 13th 2009, 12:00am by Carol Chan, Ng Tze Wei

    ... the information available to us, we continue to believe that our employees have acted properly and ethically in their business dealings in China.' Australia's foreign affairs department said ... the nation's steel industry, further fuelling diplomatic friction between Canberra and Beijing Australian citizen Stern Hu, head of Rio's iron ore business in China, and three Chinese colleagues, ...




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