Toy firm confirms arrest of two directors, worker
Hong Kong-listed toy company RBI Holdings confirmed yesterday that Customs officials had arrested two of the firm's executive directors and an IT employee for alleged infringement of software copyright. The three, arrested on July 15, were released on police bail without charge pending further investigation. Customs officials seized about 60 per cent of the computers at the firm's Tsim Sha Tsui office. RBI shares resume trading today.
Chinese airlines facing 400m yuan first-half loss
Chinese airlines, struggling with sky-high oil prices, are expected to record aggregate losses of 400 million yuan for the first half of this year, mainland media reported yesterday. Citing figures from the General Administration of Civil Aviation of China, Xinhua reported that domestic carriers lost 340 million yuan during the period, on revenues of 50.31 billion yuan.
Parkview posts loss
Renovation contractor and property investor Hong Kong Parkview Group yesterday said it posted a net loss of $21.64 million, or 4.04 cents per share, for the year ending in March. Turnover plunged 83.42 per cent to just $9.49 million.
kingway plant for xian
Kingway Brewery Holdings, in which Dutch brewer Heineken owns a 21.44 per cent stake, will invest up to US$100 million in a brewery in Xian, in northern China. The first phase of the brewery development will cost US$50 million and is scheduled to start operations in 2007.