• Sun
  • Sep 21, 2014
  • Updated: 4:13am

Acquisition

Hefty price puts ANZ plan to buy HK bank on hold

Australia and New Zealand Banking Group, Australia's third-largest bank by market value, has abandoned a plan to expand in Hong Kong by acquiring a local bank, mostly because the families controlling the banks want too much money.

Wednesday, 19 September, 2012, 3:22pm

Home Depot says store closures part of strategy to focus on core cities

When Home Depot closed its mega-store in Beijing two months ago, many thought the world's largest home improvement retailer was on the verge of withdrawing from the highly competitive market in China.

However, Raymond Chou, president of Home Depot China Retail, said the store never gave up on its goal to become the No 1 player in the mainland market.

31 Mar 2011 - 12:00am

Rise in Poly earnings defies tightening

Poly (Hong Kong) Investments, the locally listed vehicle of state-owned conglomerate China Poly Group, posted a 176 per cent increase in underlying profit to HK$1.71 billion for last year, helped by its enlarged property portfolio and profits booked in the period.

31 Mar 2011 - 12:00am

CNOOC signs US$1.5b deal for oil fields in Uganda

China's main offshore oil and gas producer has signed a deal to buy a one-third stake in a major onshore oil development project in Uganda for US$1.47 billion, establishing its second foothold in Africa.

China National Offshore Oil Corporation is buying the 33 per cent interest in the development of exploration from London-based Tullow Oil.

31 Mar 2011 - 12:00am

Owners face eviction as law on forced sales bites

A year after the government made it easier for developers to force the sale of old buildings, about 10 middle-class residents in Mid-Levels face leaving homes they want to keep.

Owners of Arts Mansion at 31 Conduit Road will know today whether any developer is interested in buying out the 50-year-old building, which the majority owners have offered for tender.

31 Mar 2011 - 12:00am

Residents face pressure tactics

Residents of old buildings still face various property acquisition tactics, although a watchdog in August banned estate agents from pressuring them to move out. The Estate Agents Authority set out 29 rules against tactics such as displaying large banners and harassing owners by phone.

31 Mar 2011 - 12:00am

End of the line for Hung Hom ferry routes

It's shortly after 11am on a chilly weekday and the Hung Hom Star Ferry pier is - as usual - largely deserted. A staff member moors an approaching ferry at the dock and hands out takeaway lunchboxes to his on-board colleagues.

31 Mar 2011 - 12:00am

Property yields to fall as foreign players rush in

Profits from property investment in the mainland are expected to drop one percentage point to around 5 per cent this year as competition for investment-grade projects heats up, particularly among foreign players, according to Jones Lang LaSalle.

30 Mar 2011 - 12:00am

China Southern banks on fleet expansion

China Southern Airlines is betting yuan appreciation and an expansion in fleet capacity will sustain last year's rosy results, but escalating oil prices threaten to erode profits.

30 Mar 2011 - 12:00am

Minmetals puts non-core assets on the block

Minmetals Resources has put its trading and processing assets up for sale so it can focus on the Australian mining assets it bought last year.

Minmetals had positioned itself as a multimetals miner and decided on Monday to dispose of the non-core assets, chief executive Andrew Michelmore said yesterday.

30 Mar 2011 - 12:00am