Company Competitor

CNOOC in US$2.5b bid to sweeten Unocal deal

Firm in last-minute offer to compensate shareholders if takeover falls through

Thursday, 14 July, 2005, 12:00am

Property players vie for Shanghai 'Wall St' last gem

SHKP, Hutchison get into position as local investors stay on the sidelines

Top Hong Kong developers are competing fiercely for the last prime site in Shanghai's Lujiazui financial district in a widely watched tender that could set the benchmark for the city's sluggish property market.

13 Jul 2005 - 12:00am

Lai See

bridge over troubled water as brains trusts battle it out

A vital link between top business leaders in Hong Kong and Taiwan will get its first test in the annual Intercity Bridge Championship.

For the first time, TSMC chairman Morris Chang Chung-mou will cross the great divide to attend the five-day tournament that pits the top brains in Asia against one another.

13 Jul 2005 - 12:00am

Developers play catch-up as rate impact reassessed

Wall St rally also helps drive gains across the board, with HSI enjoying its biggest bounce in five months

Property developers paced solid gains in the broader stock market yesterday, as investors concluded that further interest-rate increases were already factored into prices.

12 Jul 2005 - 12:00am

VW tie-up reels from price cuts by rivals

Volkswagen's joint venture with First Auto Works (FAW) said at the weekend that a rescue plan had succeeded in stabilising sales but that it faced fierce competition due to price-cutting by key rivals.

11 Jul 2005 - 12:00am

Moulin ran phantom businesses, probe finds

Moulin Global Eyecare Holdings was conducting phantom business on a large scale, with dummy customers, suppliers and sales, according to sources close to an investigation into the company.

'Was there really a profitable business there in the first place?' said one source, following an initial probe into the company's accounts.

9 Jul 2005 - 12:00am

Goldman eyes major stake in ICBC

US lender said to have partnered with Allianz for multibillion-dollar investment in China's largest bank

Goldman Sachs is understood to be exploring a substantial equity investment in Industrial and Commercial Bank of China (ICBC), raising the stakes in the international scramble to secure holdings in China's state banks.

9 Jul 2005 - 12:00am

Moulin chairman and son released on $1.4m police bail

The chairman of tottering eyewear maker Moulin Global Eyecare Holdings and his son were released from police detention yesterday after their arrest on Monday in relation to a $1.6 billion fraud probe.

7 Jul 2005 - 12:00am

Police raids net five in Moulin fraud case

Company founder, son and three other people arrested amid suspected $1.6b fraud at the debt-hit spectacles maker

Police have arrested five people connected to Moulin Global Eyecare Holdings, including chairman Ma Bo-kee and his chief executive son Cary Ma Lit-kin, amid a suspected $1.6 billion fraud at the debt-ridden firm.

6 Jul 2005 - 12:00am

Court ruling likely to dent rather than fetter innovation

The file-sharing war seesaws dramatically. As a result, you never know whether the peer-to-peer networks or the entertainment establishment is winning.

5 Jul 2005 - 12:00am

US politicians display their paranoia over CNOOC deal

A Chinese communist-controlled company is using 'free' money to take over strategic oil assets in the United States, and will threaten America's national and energy security.

4 Jul 2005 - 12:00am

WHAT THE BROKER SAYS

Macquarie Research believes that CNOOC, China's third-largest oil and gas company, has a good chance of winning the bidding war with Chevron for California-based oil company Unocal. It has a 12-month price target on CNOOC of $6.10, an upside of 43.5 per cent from its price of $4.25 on June 24.

3 Jul 2005 - 12:00am

Moulin awaits final count of staff cuts

The provisional liquidator of debt-ridden Moulin Global Eyecare Holdings sacked most of Moulin's Hong Kong staff on Thursday and a final decision on numbers will be made next week.

According to a source close to the Labour Department, Moulin, which was put into provisional liquidation on June 23, will decide on Tuesday which staff will go.

2 Jul 2005 - 12:00am

In Brief

PORTAL RAISES ITS QUESTION

Mainland internet portal Sina Corp yesterday unveiled its proprietary search engine platform 'i Ask', hoping to challenge the domination of Google and local rival Baidu on mainland desktops. The mainland search engine market was worth 1.25 billion yuan last year, according to industry estimates.

LEGEND SALES TOTAL $3.5B

1 Jul 2005 - 12:00am

Mainland firms top world in share offerings

China's US$6.1 billion worth of initial public offerings in the second quarter made it the most active country globally, according to data provider Dealogic.

The mainland offerings were also largely responsible for a 15 per cent rise in the value of offers in Asia-Pacific outside Japan in the first six months.

30 Jun 2005 - 12:00am