China Motor Bus

Government has missed the bus

It comes as no surprise that the public is unimpressed by the government's decision to extend the franchise for three bus companies. Under the deal, New World First Bus, Citybus and Long Win have been given the right to operate for another 10 years.

Wednesday, 2 May, 2012, 12:00am

Lai See

Unlike the market, baby boom reflects long-term focus

It is hard not to know anyone who says they are expecting a baby this season, if they are not already celebrating that new arrival now.

It is difficult to resist not being moved, either.

Let's look at some hard numbers.

27 Oct 2007 - 12:00am

Swire to redevelop CMB's North Point site into flats

Swire Properties will spend $200 million to develop a China Motor Bus-owned site in North Point into a mid-sized residential project.

According to surveyors, the firm is likely to invest the sum in construction costs for developing the site on Kam Hong Street into an 180,000 square foot residential project.

29 Sep 2005 - 12:00am

PROPERTY PINCHES CMB

A sharp fall in property sales caused a 54.53 per cent drop in China Motor Bus' (CMB) net profit, to HK$81.74 million, for the half to December. Turnover, or property investment income, rose a year-on-year 18.5 per cent, to HK$41.97 million. An interim dividend of 10 HK cents and a special dividend of 40 HK cents per share were recommended. The total was down 16.66 per cent.

28 Feb 2003 - 12:00am

Not afraid to use it

China Motor Bus chairwoman Irene Ngan Kit-ling outlines the firm's property development plans at the company's annual general meeting yesterday. Ms Ngan told shareholders the company plans to use its HK$1.7 billion in cash reserves to finance several property projects, including one in Chai Wan and one in North Point, rather than 'sitting on the money and doing nothing'.

4 Dec 2002 - 12:00am

ICAC arrests executive for seeking bribe

The Independent Commission Against Corruption has arrested a vice-president of a securities and investment firm for allegedly seeking HK$2 million as a bribe to facilitate an ill-fated hostile takeover.

11 Oct 2002 - 12:00am

Fungs fail to take control of restaurant

The war for China Motor Bus is raging on in a most unusual culinary battle.

Investment bankers Peter Fung Yiu-fai and Tony Fung Wing-cheung invited shareholders to a restaurant in order to woo them over to their hostile takeover with an array of goodies worth HK$680 per table for 20 tables of 12 people.

5 Sep 2002 - 12:00am

No harmful emissions

I agree with the views expressed by John McNair ('Hong Kong the perfect testing ground for alternative power', South China Morning Post, August 29) about the way forward for future transport in the SAR.

2 Sep 2002 - 12:00am

CMB appoints new adviser

China Motor Bus (CMB) has appointed Anglo Chinese Corporate Finance as independent financial adviser on a hostile takeover bid. CMB yesterday said Anglo Chinese had replaced HSBC in that role, but HSBC remained as an adviser to the company.

26 Jul 2002 - 12:00am

Bankers launch cheap raid on CMB

Two investment bankers have launched a corporate raid on cash-rich China Motor Bus by offering one HK cent a share and stripping off the company's lucrative assets.

The raiders are Peter Fung Yiu-fai and Tony Fung Wing-cheung, who jointly control main board-listed Yu Ming Investment Management.

11 Jul 2002 - 12:00am

Cash offer buoys CMB

Shares of property investor China Motor Bus (CMB) jumped 7.89 per cent to HK$71.75 yesterday on news of a cash offer by Yu Ming Investment Management. The offer is Yu Ming's second to listed companies within three days as it launched a takeover bid for financial group Pacific Challenge Holdings on April 18 and another for CMB on April 20.

24 Apr 2002 - 12:00am

Investor makes CMB offer

Franchised bus operator-turned-property investor China Motor Bus (CMB) has received a cash offer by Asia Time Investments for its entire issued share capital but full terms have yet to be announced. CMB yesterday said it had received a letter of a voluntary conditional cash offer through Yu Ming Investment Management last Saturday but considered a number of the terms vague.

23 Apr 2002 - 12:00am

Rickshaws reach end of road as historical appeal loses its pull

Hong Kong's rickshaws - once a symbol of colonial privilege - seem destined to disappear from the streets after the owner of the remaining few still in service put them up for sale.

The last three elderly rickshaw pullers who used to tout for dwindling business among tourists near the Star Ferry terminal in Central have not been seen for several weeks.

30 Dec 2001 - 12:00am

Transport tycoon passes away

Updated at 6.45pm: China Motor Bus Company chairman and founder, Ngan Shing-kwan, has died, the company announced on Wednesday.

Mr Ngan, who starting in 1933 created a business empire that now spans property and banking as well as transport, died on Saturday, the statement read.

18 Apr 2001 - 12:00am

CMB expects nod for depot redevelopment

China Motor Bus (CMB) hopes to get the go-ahead soon to redevelop its 102,420-square-foot bus depot in Chai Wan.

The company has submitted an application to the Government to change the land use of the site to residential from industrial, vice-chairman Ngan Kit-ling said yesterday.

9 Dec 2000 - 12:00am

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