Citic Telecom International

Citic Pacific chairman Chang Zhenming at the briefing to announce the firm's profit, which reached HK$7.59 billion last year. Photo: Nora Tam

Citic Pacific posts 9.1pc rise in profit

Citic Pacific, the steel-to-property conglomerate of Beijing-backed Citic Group, may book impairment losses on its much-delayed and over-budgeted Australian iron ore project in the coming years after the project's losses widened.