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  • July 14, 2014
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  1. Sinopec budgets 700b yuan to expand output

    Posted Mar 29th 2011, 12:00am by Eric Ng

    ... Eric Ng China Petroleum & Chemical (Sinopec), the world's second largest oil refiner, has budgeted around 700 billion yuan (HK$830 billion) in the next five years to expand its ... million tonnes in 2015, from 43.5 million tonnes last year. On top of the 124 billion yuan budgeted for this year, Wang said 140 billion to 150 billion yuan a year may be required between 2012 ...

  2. Ping An takes control of SDB for 29b yuan

    Posted Sep 03rd 2010, 12:00am by Charlotte So

    ... (SDB) in a 29.1 billion yuan (HK$33.2 billion) deal, which will help it strengthen its banking network on the mainland. The deal, which will increase Ping An's stake in SDB to 52 per cent ... yuan in cash and a 90.75 per cent stake in Ping An Bank in exchange for 1.639 billion new shares in Shenzhen-listed SDB. The deal values the Shenzhen lender at 1.9 times its 2010 book value, ...

  3. FAW Car invests 1.79b yuan to revive struggling Red Flag brand

    Posted Aug 27th 2010, 12:00am by Staff Reporter

    ... Neil Gough State-owned FAW Car is betting 1.79 billion yuan (HK$2.04 billion) that it can raise high the Red Flag once again. The Changchun-based carmaker said yesterday it is investing ... completion of the plant, which will build a yet-to-be unveiled 'public servant car' identified only as the C131, is set for 2012. The new Red Flag factory is part of a 3.05 billion yuan ...

  4. Bank of China plans 60b yuan rights issue

    Posted Jul 03rd 2010, 12:00am by Staff Reporter

    ... Jane Cai in Beijing Bank of China plans to raise as much as 60 billion yuan (HK$68.84 billion) in a rights offer in Hong Kong and Shanghai to replenish capital. The bank will sell 1.1 ... the sale of 40 billion yuan in six-year bonds that can be converted into shares. The lender's capital adequacy ratio fell to 11.09 per cent as of March 31, below the minimum 11.5 per cent ...

  5. Legend maps out 13b yuan expansion plan

    Posted May 31st 2010, 12:00am by Toh Han Shih

    ... Toh Han Shih Legend Holdings, the parent of mainland computer giant Lenovo Group, has a long-term plan to invest 13 billion yuan (HK$14.82 billion) in the energy, environment and chemical ... and has land reserves of 2.7 million square metres and nearly 10 billion yuan of assets. In 2009, revenue was four billion yuan. Apart from Beijing, Raycom targets second-tier mainland cities, ...

  6. Bank of China to pay 7.5b yuan for coal railway stake

    Posted May 11th 2010, 12:00am by Toh Han Shih

    ... Toh Han Shih Bank of China (BOC) will pay 7.5 billion yuan (HK$8.55 billion) for a 14.5 per cent stake in a company that will operate a coal railway on the mainland, a move analysts say ... aggressively expanded. Last month, the bank paid six billion yuan for a 4.5 per cent stake in a state-owned firm that will operate the Beijing-Shanghai high-speed link. The dedicated coal rail line ...

  7. CRCC slips on 8b yuan share placement plan

    Posted Mar 05th 2010, 12:00am by Toh Han Shih

    ... Toh Han Shih Shares in China Railway Construction Corp (CRCC) fell yesterday after the company announced an 8 billion yuan (HK$9.1 billion) share placement to build highways and pay ... of its heaviest trading days in Hong Kong with 40.13 million shares changing hands. Its Shanghai shares fell 2.3 per cent to finish at 8.46 yuan with 58.95 million A-shares traded. The stock ...

  8. Cathay injects 1.67b yuan into Air China cargo venture

    Posted Feb 26th 2010, 12:00am by Charlotte So

    ... Charlotte So Cathay Pacific Airways yesterday agreed to provide 1.67 billion yuan (HK$1.9 billion), including aircraft and engines, to its joint-venture cargo operation with Air China, ending 31/2 years of negotiations over the deal. The injections of assets will allow Air China Cargo, currently wholly owned by Air China, to become one of the largest cargo airlines in Shanghai. ...

  9. BOC eyes cross-border yuan trade settlements

    Posted Apr 15th 2009, 12:00am by Staff Reporter

    ... Maria Chan Bank of China's vice-chairman yesterday said the country's largest foreign-exchange bank was gearing up to handle yuan-based cross-border trade settlements. Li Lihui ... to be among the first batch of yuan trade settlement banks on the mainland. The lender also wants to use the clearing platform of Bank of China (Hong Kong), its banking unit in the city, to facilitate ...

  10. SPG Land forecasts sales to hit 10b yuan

    Posted Sep 05th 2009, 12:00am by Sandy Li

    ... Sandy Li Medium-sized developer SPG Land (Holdings) expects to double its contract sales target to more than 10 billion yuan (HK$11.35 billion) in 2011 as more projects will be ready for pre-sale in the next two years. The aggressive target comes after the firm said attributable profit for the six months to June rose 132.63 per cent to 202.18 million yuan owing to higher average ...




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