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  1. Chongqing Machinery in stake disposal talks

    Posted Sep 21st 2009, 12:00am by Eric Ng

    ... progress is smooth, we can begin formal talks within this year,' he said. Chongqing Machinery last week posted a 21.4 per cent year-on-year decline in net profit to 215.42 million yuan (HK$244.52 million) for the year's first-half. Sales tumbled 11 per cent to 2.8 billion yuan amid the economic slowdown. ...

  2. Greenland site deal Shanghai's biggest this year

    Posted May 06th 2009, 12:00am by Sandy Li

    ... Sandy Li Cash-rich Greenland Group has secured a 186,500 square metre residential development site on the outskirts of Shanghai for 957 million yuan (HK$1.09 billion) in the city's biggest land deal of the year so far. Greenland, which has set itself an ambitious sales target of 40 billion yuan this year, paid 36 per cent above the opening price of 703 million yuan to see ...

  3. Shenzhen sites for auction

    Posted May 20th 2009, 12:00am by Peggy Sito

    ... with a combined value estimated at between 1.8 billion yuan (HK$2.04 billion) and 2 billion yuan. The sites, designated for residential and retail use in Baoan - a new residential district - provide ... they were sold to unlisted Shangmo Development at a combined price of 800 million yuan - 50.9 per cent higher than the reserve price of 530 million yuan. But agents said the reserve price ...

  4. Business - Companies - ACQUISITIONS

    China Unicom to buy parent's fixed-line network for 12 billion yuan

    Posted Nov 22nd 2012, 12:00am by BIEN PEREZ

    ... billion yuan (HK$15 billion) in cash to buy its parent company's fixed-line infrastructure on the mainland. The proposed deal covers 100 per cent equity interest in Unicom New Horizon ... appraisal report for the proposed deal, the book value of shareholders' equity of Unicom New Horizon was 11.39 billion yuan as of September 30. The company's net profit for the nine months ...

  5. Shimao buys second site in Xiamen

    Posted Oct 09th 2009, 12:00am by Sandy Li

    ... Sandy Li Shimao Property Holdings says it has bought a prime site in Xiamen for 709 million yuan (HK$805 million), its second acquisition in the city since June. The site, covering 30,000 ... metres, comprising offices, a five-star hotel and commercial facilities with a total gross floor area of 270,000 sqmetres. The accommodation value is about 2,626 yuan per square metre. The firm ...

  6. Hang Lung purchases Wuxi site for 415m yuan

    Posted May 16th 2009, 12:00am by Sandy Li

    ... Sandy Li Hang Lung Properties paid 415 million yuan (HK$471 million) for a site in Wuxi, its second acquisition in a week, signalling growing developer optimism in the market. The accommodation value works out at 3,842 yuan per square metre, about 43 per cent higher than the price the firm paid for an adjacent site in December 2006. Hang Lung said it would develop a shopping ...

  7. In Brief

    Posted Aug 28th 2008, 12:00am by Staff Reporter

    ... Acquisition helps boost earnings at China Automation Group China Automation Group, the country's largest provider of safety and critical control systems, saw 62 per cent growth in first-half net profit to 78.1 million yuan, after it acquired Jiaoda Microunion, a provider of railway interlocking systems, at the end of last year. Sales jumped 133 per cent to 408.8 million yuan ...

  8. Mainland developers go on spending spree

    Posted Sep 10th 2010, 12:00am by Sandy Li, Yvonne Liu

    ... In the past two days, they have spent almost 10 billion yuan (HK$11.45 billion) on land acquisitions. 'Developers have huge cash reserves after strong sales. They have to replenish land banks to capitalise on a market recovery,' one analyst said. China Vanke, which raised 11.9 billion yuan from property sales last month, yesterday teamed up with BUCC Group to buy a residential site ...

  9. Sino-Ocean targets record 30b yuan in sales

    Posted Mar 19th 2011, 12:00am by Yvonne Liu

    ... The central government's cooling measures in the property market have not stopped Sino-Ocean Land Holdings aiming for record contract sales of 30 billion yuan (HK$35.62 billion) this year, nearly 39 per cent more than last year. The developer's contracted sales jumped 51 per cent to 21.6 billion yuan last year, a record for the Beijing-based company. It sold 1.66 ...

  10. Macquarie sells luxury tower at less than cost

    Posted Jun 19th 2009, 12:00am by Peggy Sito

    ... City Apartments to a mainland investor for less than 300 million yuan (HK$340.17 million), sources said. Macquarie declined to comment. Macquarie had bought the property for 400 million yuan ... to buying City Apartments, a 16,000 square metre residential development in downtown Shanghai, for about 250 million yuan. Citic Capital, an investment arm of the mainland's largest financial ...




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