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  • July 24, 2014
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  1. Business - Commodities - ENERGY

    Banks offer LDK Solar 2 billion yuan loan

    Posted May 27th 2014, 01:34am by BLOOM AND JASPER MOISEIWITSCH

    ... Jasper Moiseiwitsch and Bloomberg Bank consortium offers loan to troubled solar panel maker after debt restructuring in March Bank consortium gives LDK 2b yuan lifeline China Development Bank has led an 11-bank consortium offering a 2 billion yuan (HK$2.48 billion) loan to LDK Solar, said LDK spokesman Peng Shaomin. The funding marks a turnaround for the company since its ...

  2. Business - Commodities - ENERGY

    Investors dump Singyes shares on bond issue plan

    Posted Jul 18th 2014, 02:57am by Eric Ng

    ... Holdings slid 6.1 per cent after it unveiled plans to raise 930 million yuan (HK$1.2 billion) through a convertible bond issue. The proceeds will be used to repay debt and fund expenses. ... for last year surged 49.3 per cent to 490.6 million yuan as revenue jumped 34 per cent to 4.15 billion yuan. Interest-bearing loans net of cash and bank deposits amounted to 11.9 per cent of its ...

  3. Business - Commodities - ENERGY

    United PV to spend 10b yuan to triple solar farm capacity

    Posted May 14th 2014, 01:20am by BLOOM

    ... Bloomberg in Beijing United PV to triple its solar power capacity United Photovoltaics, a mainland solar-farm operator, says it plans to invest 10 billion yuan (HK$12.4 billion) this year ... of the investment would come from its "own capital", Li said. The company had about 500 million yuan in cash and would use loans to supplement the spending, he said. The company said on April 16 ...

  4. Business - Commodities - ENERGY

    Solar farm taps crowd funding for 10m yuan project

    Posted Feb 20th 2014, 01:16am by Eric Ng

    ... Eric Ng in Shenzhen eric.mpng@scmp.com State-backed firm teams up with online finance sector to fund off-grid solar facility in Qianhai Solar farm targets 10m yuan from crowd funding United Photovoltaics Group, controlled by state-backed finance-to-logistics conglomerate China Merchants Group, aims to raise 10 million yuan (HK$12.7 million) through what it claims ...

  5. Business - Commodities - ENERGY

    PetroChina ready to sell more of its pipeline assets

    Posted May 13th 2014, 01:13am by Eric Ng

    ... natural gas pipelines, worth some 39 billion yuan (HK$49 billion), in the second pipeline assets disposal in a year. PetroChina is increasingly willing to sell down midstream assets NEIL ... on the mainland. Such an exchange is not a stock exchange, but a platform for state-owned companies to dispose of assets. The assets to be injected had a net asset value of 29 billion yuan at the end ...

  6. Business - Commodities - ENERGY

    CNOOC sees oil and gas sales increase by 6.9pc thanks to Nexen acquisition

    Posted Apr 23rd 2014, 12:50am by Eric Ng

    ... in unaudited oil and gas sales revenue to 59.15 billion yuan (HK$74 billion) for the year's first quarter. The growth was driven by the acquisition in February last year of Canada's Nexen, ... of the projects are wholly owned. Its average output last year was 1.13 million barrels per day. It has spent 19.3 billion yuan on new projects in the first quarter. Chief financial officer Zhong Hua said ...

  7. News - China - ENERGY

    Petrochina sparks protests after tightening rules on hiring workers' children

    Posted Apr 30th 2014, 05:34pm by Angela Meng

    ... in Daqing, has been trying to cut costs and stay lean for shareholders. Many parents spent tens of thousands of yuan sending their kids to school so they can have a stable job. Now they don’t want ... will be required to go through a year of training. “These third-tier university grads are already not very good at school. Many parents spent tens of thousands of yuan sending their kids to school so ...

  8. Business - Commodities - ENERGY

    Sinopec leads China's shale gas revolution with successful drilling

    Posted Apr 24th 2014, 01:15am by Eric Ng

    ... conducting trial production mainly in Sichuan province. A Reuters report quoted a company source and a government source as saying PetroChina plans to spend more than 10 billion yuan (HK$12.55 billion) on shale gas drilling this year alone, compared to three billion yuan between 2010 and last year. A company spokesman said spending would rise, but would not confirm the figures, adding: ...

  9. News - China - ENERGY

    Inland nuclear plant restart to help provinces

    Posted Apr 14th 2014, 05:18am by Toh Han Shih, Mimi Lau

    ... plant in the central region of Hunan province," China Business Journal reported, quoting a former nuclear power official. The Taohua River plant is estimated to cost 67 billion yuan (HK$84 ... hard. CPI Jiangxi Nuclear Power, owner of the Pengze plant, has been servicing annual financing costs of more than 100 million yuan, according to mainland media. Meanwhile, China Power ...

  10. Business - Commodities - ENERGY

    CNPC plans 630b yuan pipeline boost

    Posted Sep 06th 2013, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Two-thirds of nation's cities will be linked to energy giant's gas network over next decade CNPC plans 630b yuan pipeline boost China National Petroleum Corp (CNPC), the mainland's largest oil and gas producer, plans to spend 630 billion yuan (HK$791.8 billion) over the next decade to build four more long-distance gas pipelines ...




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