Andy Cheng

I.T shares touch record high over plan to buy out mainland venture

Shares of fashion retailer I.T surged as much as 23.6 per cent to a record yesterday after the company said it would buy the 50 per cent stake in its loss-making mainland venture it does not own and two other retail stores for HK$263 million.

Thursday, 4 October, 2007, 12:00am

Lai See

PBOC head's 'unlikely' reply fuels media guessing game

Without knowing the context, when People's Bank of China governor Zhou Xiaochuan said something was 'unlikely,' what would you fancy that something could be?

Could it be the long-awaited 'through train' - Beijing's plan to allow mainland investors to buy Hong Kong stocks? What a shame, if that's the case.

22 Sep 2007 - 12:00am

Lai See

Professor learns fast in the Legco cauldron

Secretary for Financial Services and the Treasury Chan Ka-keung, a former professor at Hong Kong University of Science and Technology, yesterday demonstrated how a teacher can also become a good student within a month: he cut short his speech in the Legislative Council.

21 Jul 2007 - 12:00am

Home loan aversion may fuel mortgage price war

Hong Kong's new homeowners are borrowing less to buy their property, a trend that is set to intensify a price war between banks for a bigger slice of the housing market, according to mReferral Mortgage Brokerage.

The loan to valuation rate on mortgages dropped to 61.6 per cent in May from 68.9 per cent in 2002, the brokerage said.

4 Jul 2007 - 12:00am

Belle sees quick returns on stores

Listing candidate Belle International, the mainland's biggest women's shoe retailer, said each of the 1,000 new outlets it planned to open every year could start contributing profit after one month of operation because of the high margins in such businesses.

9 May 2007 - 12:00am

Jiahua Stores sets low price-earnings ratio for HK$260m IPO

Jiahua Stores Holdings, a Shenzhen-based supermarket and department store operator that aims to raise up to HK$260 million in an initial public offering this week, set its price-earnings at between 15 and 18 times, lower than that of its mainland peers.

8 May 2007 - 12:00am

Traders see 14.5pc rise in retail sales

The mainland's retail sales will probably grow by a higher than expected 14.5 per cent this year as disposable incomes maintain their fast and steady growth, the China General Chamber of Commerce says.

10 Apr 2007 - 12:00am

Nine Dragons shares plummet 9pc

Announcement of forecast-beating 69pc jump in first-half profit and capacity expansion plan fails to impress investors

14 Feb 2007 - 12:00am

Lion Diversified to reap US$171m in placement

10pc stake in Parkson Retail priced at upper end in mildly oversubscribed offer

Malaysian conglomerate Lion Diversified Holdings is set to reap as much as US$171 million through the disposal of a 10 per cent stake in mainland department store operator Parkson Retail Group, according to market sources.

30 Aug 2006 - 12:00am

Coastal Greenland to lift China land bank despite slump

Coastal Greenland, a Hong Kong-listed mainland property developer, says it will continue to add to its residential land bank even though sales in key cities have fallen since May, when Beijing introduced more austerity measures designed to cool the property market.

31 Jul 2006 - 12:00am

Luk Fook profits off 24pc on rents, labour

Jewellery retailer said full-year profit fell 24 per cent, crimped by high labour costs and rents as well as slower tourist spending.

However, the company's shares rose 5.9 per cent yesterday, closing at $1.25, as the decline was smaller than the 54.6 per cent drop in the first half, reflecting an improvement in the second half.

25 Jul 2006 - 12:00am

Rainy protest

More than 100 homosexual activists brave downpours to march through Causeway Bay yesterday demanding an end to discrimination. Marchers from the mainland and Taiwan joined local homosexuals in the second International Day Against Homophobia Hong Kong Parade organised by 19 community groups.

22 May 2006 - 12:00am

Cigarette pack printer says Anhui factory start to push up revenues

Cigarette pack printer Kith Holdings expects a substantial increase in printing revenues for the next two years following the start of production at its Anhui factory.

21 Apr 2006 - 12:00am

Watch firm steps up China drive

Xinyu Hengdeli Holdings, a mainland distributor of international brand-name watches, plans to expand its retail network to second-tier cities this year after having made inroads in the biggest cities.

13 Apr 2006 - 12:00am

A royal invitation

Saudi Arabia's princess Loulwah Al-Faisal yesterday urged Hong Kong investors to explore business opportunities in her country as it was now 'completely open' to foreign investment.

Speaking at a Hong Kong General Chamber of Commerce conference yesterday, the princess said foreign investors could wholly own businesses without having to form joint ventures with local companies.

9 Mar 2006 - 12:00am

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