• Mon
  • Apr 21, 2014
  • Updated: 8:36am

Kumagai Gumi

Falling asset value brings Siu-Fung rescue pull-out

The deteriorating net-asset value of financially troubled Siu-Fung Ceramics Holdings has been a key reason for the withdrawal by Kumagai Gumi (Hong Kong) from a $800 million rescue bid, according to sources close to the rescuer.

Monday, 28 September, 1998, 12:00am

Falling asset value brings Siu-Fung rescue pull-out

The deteriorating net-asset value of financially troubled Siu-Fung Ceramics Holdings has been a key reason for the withdrawal by Kumagai Gumi (Hong Kong) from a $800 million rescue bid, according to sources close to the rescuer.

28 Sep 1998 - 12:00am

Kumagai posts 74pc profit fall

Kumagai Gumi (Hong Kong) has posted a 74 per cent decline in net profit to $121.5 million, largely because of the absence of earnings from property development in Hong Kong.

The fall was also attributable to the slowdown in property sales in southern China and hotel operations in Beijing, it said.

19 Sep 1998 - 12:00am

Kumagai quits Siu-Fung rescue

Construction firm Kumagai Gumi (Hong Kong) has decided against proceeding with its part in the $800 million bailout of troubled Siu-Fung Ceramics Holdings and its controlling shareholder Siegfried Lee Siu-fung.

China Everbright International associate Kumagai was to have paid $470 million for 2.35 billion shares in Siu-Fung at 20 cents per share.

15 Sep 1998 - 12:00am

Kumagai, Amec win contract

Kumagai Gumi (Hong Kong) and Amec International Construction have won a $598.4 million civil works contract from the Territory Development Department. The contract will carry out improvement and noise mitigation works on the Wong Chu Road and its associated interchanges in Tuen Mun.

8 Sep 1998 - 12:00am

Red chip lifts Kumagai stake

Red chip China Everbright International said it had completed the purchase of 90 million new shares of Kumagai Gumi (Hong Kong) on Tuesday, boosting its stake to 35.07 per cent from 20.98 per cent. The companies said in a joint announcement that the conversion price for the convertible bond issued by Kumagai Gumi was revised downward to $12.50 from $12.80.

2 Jul 1998 - 12:00am

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