Cofco to inject HK$14b assets into Hong Kong unit

The assets to be injected by Cofco comprised 12 properties, including Chengdu Joy City in Chengdu and Beijing Cofco Plaza in Beijing.

The asset injection - covering commercial, office and hotel properties - will make Hong Kong Parkview "the overseas-listed platform of Cofco, holding its mixed-use complexes as well as other commercial properties", Hong Kong Parkview said in an announcement to the Hong Kong exchange yesterday.

Wednesday, 25 September, 2013, 4:04am

State's cowboy keeps profits rolling

State-owned enterprises have a duty to improve living standards, says Ning Gaoning. Photo: Simon Song

There is a popular list that epicures have made of staff canteens in Beijing.

High on the list is Google's, where a wide variety of food is offered to suit the tastes of its talents from around the world.

19 Nov 2012 - 4:13am

Cofco asset boost for Hong Kong unit seen moving slowly

Cofco chairman Ning Gaoning says property businesses bring about stable earnings. Photo: Simon Song

Cofco, the mainland's largest food trader and processor, expects the injection of assets from its property companies into Hong Kong Parkview will take time due to strict scrutiny by mainland and Hong Kong regulators.

15 Nov 2012 - 5:46am

Business Digest, October 16, 2012

Sinopec unit to acquire half of Vesta Terminals

16 Oct 2012 - 4:03am

Takeover bid lifts HK Parkview up 43pc

Shares in The Hong Kong Parkview Group shot up nearly 43 per cent yesterday after Cofco Corporation announced a HK$362.18 million takeover bid for the property investment company.

19 Jul 2012 - 12:00am

China Agri's role 'reflects national needs'

With more than 1.3 billion people on the mainland, securing adequate food supplies is understandably an important national security issue.

That makes national strategic planning identical to strategic planning at China Agri-Industries, according to Yu Xubo, the newly-appointed chairman of the state-owned investment firm.

2 Apr 2012 - 12:00am

China Agri earnings boosted by oilseeds

China Agri-Industries, one of the largest state-owned oil and grain companies, announced a 39 per cent jump in net profit as revenue from its oilseed businesses increased sharply amid robust demand and suspension of government price caps.

29 Mar 2012 - 12:00am

Cofco raises stake in Mengniu and offers help

State-owned food conglomerate Cofco is playing a more active role in China Mengniu Dairy, and has raised its stake after an excessive amount of a carcinogenic substance was found in its dairy products last month.

7 Jan 2012 - 12:00am

Tycoons move into farms to diversify

When Ding Lei, the chief executive of NetEase, a leading mainland internet company, announced his plans to raise pigs as part of a new business venture two years ago, it aroused great public interest and became one of the hottest topics online.

13 Nov 2011 - 12:00am

State firm the 'go to' body for agricultural trading since 1950s

China National Cereals, Oils and Foodstuffs Corporation (Cofco) has been the bridge between the country and the world for trading agricultural products since the 1950s.

State-owned companies, such as Cofco, are often charged with pioneering new industries, like biofuel, until the sector is developed, at which point it is opened to other players.

13 Jul 2010 - 12:00am

Food packaging firm CPMC up 13pc on debut

Shares of food packaging firm CPMC Holdings, which raised HK$1.08 billion in an initial public offering, closed 13.4 per cent higher in their trading debut yesterday.

CPMC, a subsidiary of Cofco Group, opened at HK$6.90 and went as high as HK$7.05 before closing at HK$6.11. The shares were offered at HK$5.39.

17 Nov 2009 - 12:00am

Corrections & clarifications

The report 'Ports to see drop in volume' published yesterday should have said China Merchants Holdings (International)'s container throughput volume for Hong Kong Modern Terminals, in which it holds a 27 per cent stake, rose 3 per cent to 5.9 million 20-foot equivalent units last year.

22 Apr 2009 - 12:00am

Fewer one-off gains drag down China Foods net

China Foods, the edible oil and beverage unit of the mainland's largest food importer and exporter, said net profit fell 38.9 per cent last year as it generated fewer one-off gains.

Net income for the year to December dropped to HK$483.43 million from HK$791.69 million a year earlier.

10 Apr 2009 - 12:00am

Cofco sees golden opportunity in pork processing

The country's largest food importer and exporter, Cofco Group, plans to establish a domestic pork processing facility with a hog-slaughtering capability of 30 million in five to 10 years as part of its transformation from agricultural trader and processor into a vertically integrated food company.

22 Sep 2008 - 12:00am

China Agri to boost oilseed capacity

China Agri-Industries Holdings, a Hong Kong-listed unit of the mainland's largest food importer and exporter, aims to double its oilseed processing capability in the next two or three years after reporting a 174 per cent jump in first-half net profit.

19 Sep 2008 - 12:00am