Eric Ng

Guodian Tech to raise HK$5b

Guodian Technology and Environment Group plans to spend a total of 6 billion yuan (HK$7.32 billion) in this year's second half and next year on its power-plant pollution controls and clean-energy business development, and will plug the gap in proceeds from its initial p

Friday, 9 December, 2011, 12:00am

Profit jumps at troubled China Gas

China Gas, a mainland natural gas distributor plagued by shareholder infighting and corporate governance issues, posted a 52.6 per cent jump in interim underlying profit.

30 Nov 2011 - 12:00am

Mainland firm banned for fraud

A subsidiary of China Metallurgical Group Corporation (MCC), a state-owned construction, resources and property conglomerate, has been banned by the World Bank from participating in its projects for three years for 'fraudulent misconduct' relating to an urban transport project in Bangladesh.

30 Sep 2011 - 12:00am

Travel Expert plans HK$50m share sale

Travel Expert (Asia) Enterprises, a leader in the frequent individual traveller segment of the agency business, aims to raise HK$50 million through an initial public offering to expand its corporate business and fund possible expansion on the mainland and in other parts of Asia.

The company plans to sell 100 million new shares.

16 Sep 2011 - 12:00am

Rebate to cut PetroChina import loss by HK$2.4b

The Ministry of Finance will rebate natural gas importers the 13 per cent value-added tax they are paying to help cut their losses due to high import prices and low domestic prices.

24 Aug 2011 - 12:00am

West's credit woes expected to drag down exports from Asia

Hong Kong faces a heightened risk of 'stagflation' next year - slow economic growth coupled with high inflation - as the fallout from the sovereign credit crisis in the West surfaces in the form of weaker exports for Asia, according to an economic adviser to HSBC.

15 Aug 2011 - 12:00am

CNNC unit to buy parent's assets to help lift profits

CNNC International, the Hong Kong-listed unit of the nation's largest nuclear power plants developer that focuses on overseas uranium sourcing and mining, aims to become profitable next year, according to its chief executive.

30 May 2011 - 12:00am

Sinopec posts 24.5pc rise in net profit

29 Apr 2011 - 12:00am

Datang's profit up on higher output

Datang International Power Generation, the flagship listed vehicle of mainland power producer China Datang Group, saw first-quarter net profit rise to 87.2 million yuan (HK$104 million) from 15.5 million yuan a year earlier. Revenues grew 6.4 per cent to 15.64 million yuan.

8 May 2015 - 9:35am

Yanzhou Coal bullish on first-half results

Yanzhou Coal Mining expects first-half net profit to soar more than 80 per cent from 2.72 billion yuan (HK$3.23 billion) in the first six months of last year. First-quarter net profit rose 17.9 per cent to 2.48 billion yuan on a 15.9 per cent rise in sales and an 18 per cent jump in average selling price. Production cost per tonne of sales grew 15.4 per cent.

27 Apr 2011 - 12:00am

China Gas seeks mediator in board row

China Gas Holdings, wracked by a board row, plans to appoint one of the Big Four international accountancy firms other than its auditor, Deloitte Touche Tomatsu, to investigate allegations that joint managing director Pang Ying Xue might have engaged in undisclosed connected transactions. Investigation results are expected by the end of June.

21 Apr 2011 - 12:00am

Post sweeps Citi business journalism awards

The South China Morning Post has scooped the prize pool in the Citi Journalistic Excellence Award 2011 announced yesterday.

The Post's business reporters won three of the awards, with the top award in Hong Kong going to deputy property editor Sandy Li for her article 'Shanty towns are no place to call home'. Li won the first runner-up title in the 2010 competition.

15 Apr 2011 - 12:00am

Solar panel profits set to pass HK$3b

GCL-Poly Energy Holdings, China's largest producer of solar panel components polysilicon and wafers, says it expects to have posted in the second half of last year a net profit that was about three times that of the unaudited profit of HK$787.64 million in the first half. This implies a possible full-year net profit of HK$3.15 billion, compared with a loss of HK$200 million in 2009.

28 Jan 2011 - 12:00am

Brightoil to pay HK$1.49b for Access

Shenzhen-based Brightoil Petroleum (Holdings), one of the mainland's suppliers of fuel to ocean-going vessels, has signed a preliminary agreement to buy Access Wealth Holdings for HK$1.49 billion. It will pay 65 per cent in cash and the remainder by issuing 146.4 million shares at HK$3.55 each.

30 Jul 2010 - 12:00am

Higher sales, prices boost China Coal profit

China Coal Energy has unveiled a 1.33 billion yuan acquisition as it posted a 35.88 per cent year-on-year net profit growth in the first quarter, thanks to higher sales volume and prices.

The country's second-biggest coal miner also said it bought 100 per cent of China Coal Shanxi Dongpo Coal from a unit of its parent to tap the nation's rising energy demand.

8 May 2015 - 9:51am