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  • November 28, 2014
  • Last updated: 10:06pm
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  1. Business - China Business

    Slow economy cools Tingyi profits

    Posted Nov 21st 2014, 02:56pm by Toh Han Shih

    ... of Tingyi’s beverage business fell 19.95 per cent year on year to US$1.73 billion, accounting for 58.53 per cent of the total turnover. According to AC Nielsen, the overall sales volume of instant ... industry. However, our turnover was slightly better than the market,” said Tingyi. The turnover of Tingyi’s instant noodle business dropped 1.81 per cent to US$1.13 billion in the third quarter, ...

  2. Business - Commodities - DAIRY

    RRJ Capital and Bright Dairy in China to list joint dairy venture in 5 years

    Posted Nov 28th 2014, 12:23pm by Toh Han Shih

    ... of 1.53 billion yuan in US dollars cash into Holstan for 45 per cent of Holstan, said Bright Dairy. With this agreement, Bright Dairy’s stake in Holstan, one of China’s biggest dairy service ... will be used by Holstan to construct and manage dairy farms. In the next three to five years, Holstan’s livestock husbandry business will “greatly increase to over 20 dairy farms from the current 12”, ...

  3. Business - Economy - HONG KONG

    Mainland holds key to Hong Kong growth story

    Posted Nov 27th 2014, 04:39am by Toh Han Shih

    ... key to HK growth story Pessimism over a slide in Hong Kong's competitiveness is deepening in the business community, but some of its leading figures say the city can shore up its position ... the chairman of Orient Overseas (International), told the annual business summit of the Hong Kong General Chamber of Commerce yesterday. Tung and other business figures were commenting as a chamber ...

  4. Business - China Business - CRIME

    Beijing to step up tax evasion campaign after US multinational firm caught

    Posted Nov 25th 2014, 05:05am by Toh Han Shih

    ... Toh Han Shih hanshih.toh@scmp.com Beijing to step up campaign after US-based company agrees to pay back taxes and interest Clampdown on tax evasion after US giant caught The mainland's first major case of cross-border tax evasion involving a large US multinational has been revealed by state media, with Xinhua saying Beijing would step up its fight against international ...

  5. Business - Companies - FRAUD

    Muddy Waters alleges fraud at Superb Summit

    Posted Nov 20th 2014, 04:00pm by Toh Han Shih

    ... Group were suspended at 11.19am yesterday, after US short-seller Muddy Waters released a report alleging fraud at the loss-making company. Superb Summit's share price fell 5.8 per cent ... the mainland firm at HK$1.55 billion. Jinfeite's main business is coal liquefaction. Muddy Waters questioned the acquisition. "Jinfeite is barely a business, its technology has little value, ...

  6. Business - Economy - INVESTMENT

    Beijing seen as lifeline to Latin American economies

    Posted Nov 20th 2014, 07:13am by Toh Han Shih

    ... The Mexican government this month cancelled a US$4.4 billion high-speed-rail contract it had awarded only a few days earlier to a consortium of Chinese, French and Mexican firms. "Both ... measures." Some Mexican firms in the consortium benefited from US$652 million worth of contracts while Peña Nieto was governor of Mexico state from 2005 to 2011, the website of Mexican journalist ...

  7. Business - Banking & Finance

    Hong Kong seen as key link for funds fleeing London

    Posted Nov 17th 2014, 05:08am by Toh Han Shih

    ... of company ownership will help us tackle tax evasion, corruption and money laundering." One industry that used Hong Kong as a haven was betting, said Carey. Betting is illegal in mainland China, ... Chambers, a lawyers' group. "The big risk for Hong Kong businesses is the Hong Kong financial sector will be a funnel for money coming from suspect sources and then on to the international ...

  8. Business - Companies - REGULATION

    Nowhere to hide from bribery laws

    Posted Nov 17th 2014, 05:08am by Benjamin Robertson, Toh Han Shih

    ... if you bribe At a closed-door trial held last month in Hunan province, one-time high-flying business executive Mark Reilly was handed a three-year suspended prison sentence for his role ... company slapped with a US$489 million fine, according to Xinhua. However, Reilly's return to Britain might not mean the end to his legal troubles. That is because as a British passport ...

  9. Business - Companies

    Compliance push drives demand for Hong Kong lawyers

    Posted Nov 17th 2014, 05:08am by Toh Han Shih, Benjamin Robertson

    ... Toh Han Shih and Benjamin Robertson Compliance push drives demand for lawyers Increasingly rigorous US and British compliance requirements are driving strong growth in the number ... to investigations and compliance work had increased in the past couple of years. "An increasing number of US and [British] firms and lawyers see investigations and compliance work in Asia as an area ...

  10. Business - Companies - CRIME

    NVC chairman accuses top Chinese banks of collusion in founder's alleged embezzlement scheme

    Posted Nov 17th 2014, 02:14pm by Toh Han Shih

    ... the Chongqing branches of three banks, but had named only Bank of China. "These banks misled us with false information. They did illegal things. These are major banks listed in Hong Kong. ...




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