Lai Fung Holdings, the mainland property arm of Lai Sun Development, hopes to realise 2.5 billion yuan (about HK$2.34 billion) over the next two years from the sale of two projects in Shanghai.Saturday, 21 December, 2002, 12:00am
Lai Sun Development's losses grew to HK$1.94 billion for the year ended July 31 from the previous year's HK$1.19 billion.
The loss mainly arose from disposals of subsidiaries and associates, compounded by impairment provisions for property development, unlisted investments, associates and related goodwill.9 Nov 2002 - 12:00am
Three potential bidders have approached Lai Sun Development over its Asia Television (ATV) holding after Tom.com pulled out a deal to purchase the stake.
ATV's controlling shareholders Liu Changle and Chan Wing-kee are among those interested.22 Aug 2002 - 12:00am
The committed interest by local companies in the institutional share offering of BOC Hong Kong (Holdings) had increased to more than HK$7.5 billion, taking up more than 30 per cent of the group's up to HK$25 billion initial public offering, sources said.12 Jul 2002 - 12:00am
Lai Sun Development narrowed its net loss by 74 per cent to HK$289.55 million in the six months to January 31, from HK$1.12 billion a year earlier.
Loss per share fell from 30 HK cents a year ago to eight HK cents. No interim dividend was declared.20 Apr 2002 - 12:00am
Falling interest income earned on a barely changed loan book plus a higher bad-debt charge have left Wing Lung Bank's bottom-line profit last year 16.3 per cent lower on the previous year at HK$845.8 million.
The mid-sized 35-branch retail bank reported a 10.8 per cent fall in net interest income, generated on total advances up just 1.08 per cent at HK$28.75 billion.28 Feb 2002 - 12:00am
Lai Sun Development must redeem HK$2.1 billion in bonds in the next two years, according to executive director Mark Lee Po-on. Mr Lee said the group, with debts of about HK$6 billion, had no plans to raise funds through share placement. Mr Lee expected the debt would be repaid through a public listing of Asia Television, disposal of assets and from internal resources.22 Dec 2001 - 12:00am
The Bank of East Asia has taken possession of one of Hong Kong's most exclusive properties - The Genesis on The Peak - from troubled property company Pearl Oriental Holdings.
The 28,000 square feet super-deluxe residence was put under receivership as Pearl Oriental entered a fresh round of negotiations with its creditor banks.25 Jul 2001 - 12:00am
Lai Sun Development has narrowed its net loss to HK$1.13 billion in the half to January 31 from HK$1.34 billion before. However, parent Lai Sun Garment (International) widened its half loss to HK$633.92 million from HK$515.75 million previously. China property arm Lai Fung Holdings was also in the red with a net loss of HK$39.21 million from a profit of HK$4.12 million.21 Apr 2001 - 12:00am
Debt-laden developer Lai Sun Development expects sales of four residential projects, property rental and hotel operations to generate sufficient cash to cover interest expenses next year.
Lai Sun director Julius Lau Shu-yan said the company expected to realise total sales proceeds of HK$600 million to HK$700 million by launching four projects next year.30 Dec 2000 - 12:00am