• Sat
  • Dec 27, 2014
  • Updated: 11:31am


First Pacific restructuring leads to profits fall of 74pc

First Pacific's two-year restructuring programme is almost complete, and the company is concentrating on wringing out value from its remaining assets, according to managing director Thomas Yasuda.

Tuesday, 7 September, 1999, 12:00am

Sale boosts First Pacific

First Pacific scored its best one-day gain in two months yesterday as the successful disposal of its stake in Dutch-based trading company Hagemeyer brought out the buyers.

The stock led all blue chips in percentage gains, jumping 11.25 per cent to $4.45, amid a healthy volume of 10.32 million shares.

24 Mar 1998 - 12:00am

First Pacific to delay results announcement

First Pacific Co is to delay the release of its final results for the year to December by one month to March 30. The company said the deferral was to enable it to complete before the end of March the sale of its 39.7 per cent stake in Dutch associate Hagemeyer.

2 Mar 1998 - 12:00am

Hagemeyer sees 30.5pc surge in net profit as acquisitions push up sales

First Pacific's Dutch associate Hagemeyer said yesterday strong sales growth from acquisitions pushed net profit up 30.5 per cent last year.

Parent First Pacific announced recently it would sell up to US$2 billion in assets, including its 39.7 per cent stake in Hagemeyer, to sort out its troubled finances.

17 Feb 1998 - 12:00am

Sino strength rouses bargain-hunters

Hong Kong share prices rebounded yesterday as fears over developer Sino Land's financial strength receded and bargain-hunters scoured the market, brokers said.

The Hang Seng Index soared 321.06 points, or 3.74 per cent, to close at 8,900.04.

On Thursday, it slumped 647.57 points on the back of rumours that Sino Land had defaulted on debts.

17 Jan 1998 - 12:00am

First Pacific

First Pacific yesterday fell 16.8 per cent to $2.475 - a four-year low - despite reassurances from the company it could cope with the impact of the Asian financial crisis.

The stock's 34 per cent plunge this year makes it the worst performing stock on the Hang Seng Index.

9 Jan 1998 - 12:00am

First Pacific chief sues over undelivered car

FIRST Pacific managing director Manuel Pangilinan has a lot more to contend with than earnings eroded by regional currency devaluation or rumours the Hong Kong-based conglomerate is either taking over San Miguel or selling its Dutch unit Hagemeyer.

He also has to get his money back on a car.

14 Dec 1997 - 12:00am

First Pacific poised to come back into favour

FIRST Pacific Co is a regional conglomerate with interests in trading, banking and telecommunications.

Brokerage SBC Warburg has put a buy on the stock, saying its long underperformance is expected to end shortly.

13 Apr 1997 - 12:00am

Borsumij takeover

SHAREHOLDERS of Borsumij, a Dutch subsidiary of First Pacific Co, have been informed at an extraordinary meeting that the company is going to be taken over by Hagemeyer, another subsidiary of First Pacific.

Hebo, the administration office which holds a majority stake in Borsumij, has backed the proposed takeover

21 Sep 1995 - 12:00am

Hagemeyer moves nearer giant merger

FIRST Pacific Co says talks on merging its Dutch subsidiary, Hagemeyer, and trading company Koninklijke Borsumij Wehry are proceeding satisfactorily.

First Pacific said yesterday the due diligence process had started and further announcements would be made towards the end of August.

31 May 1995 - 12:00am

Joint venture in marketing

FIRST Pacific's Dutch subsidiary, Hagemeyer, and the Swiss-owned marketing group, Cosa Liebermann, have completed a joint-venture combining their marketing, sales and distribution sections in the Asia-Pacific region.

29 Oct 1994 - 12:00am

Big rise for Hagemeyer

FIRST Pacific Co's Dutch subsidiary Hagemeyer says its ordinary after-tax profit was 60.1 million guilders (about HK$268.6 million) for the first six months, an increase of 19 per cent over the same period last year.

The company posted an exceptional gain of 80.9 million guilders, boosting its consolidated net profit to 141 million guilders.

26 Aug 1994 - 12:00am

Hagemeyer taps US$120m

FIRST Pacific subsidiary Hagemeyer has raised a US$120 million loan on the US capital market, at an interest rate of 5.985 per cent, to fund its acquisition of British electronics distributor Newey and Eyre.

The company said the eight-year loan marked the first time it had tapped the US market, where interest rates are at 18-year lows.

11 Oct 1993 - 12:00am

Hagemeyer net surges 20pc

FIRST Pacific Dutch subsidiary Hagemeyer saw interim net profit rise 20 per cent in the first half of the year to 50.6 million guilders (about HK$215.3 million).

Fully diluted earnings per share were 3.71 guilders ($15.79), up 16.3 per cent. Operating profit rose 4.6 per cent to 83.1 million guilders ($353.7 million).

27 Aug 1993 - 12:00am