China Resources needs to win over merger sceptics

A China Resources New Energy Group electrical substation at one of its wind turbine locations in Shantou, Guangdong. Photo: Bloomberg

Independent shareholders of China Resources Power (CRP) and sister firm China Resources Gas (CRG) are unlikely to vote in favour of their proposed merger unless the firms can provide more details about proposed post-merger investment into riskier new projects and quantify

Monday, 10 June, 2013, 5:23am

Plan to combine power, gas units sparks sell-off

Thumbs down

Investors gave a harsh verdict on state-owned China Resources' proposed merger of its gas and power subsidiaries, selling down shares in both companies yesterday, as one analyst suggested the move would not get the necessary shareholder approval.

11 May 2013 - 4:13am

CR Power, CR Gas hold talks on merger

CR Power, CR Gas hold talks on merger

China Resources Power (CRP) and China Resources Gas (CRG), which have a combined market value of HK$170 billion, are in talks on a possible merger to form an energy major under state-owned China Resources (Holdings).

7 May 2013 - 6:03am

US Airways closes in on deal with AMR to form largest airline

A US Airways plane passes American Airlines planes at Ronald Reagan National Airport in Washington. Photo: Reuters

The two companies are working on final details and their boards may vote on the deal later this week, people familiar with the matter have said. US Airways chief executive officer Doug Parker would lead the combined company, the people said.

12 Feb 2013 - 5:33am

Sports Digest, January 17, 2013

Pep Guardiola

Bayern Munich have appointed former Barcelona coach Pep Guardiola to replace Jupp Heynckes from next season, the Bundesliga club said yesterday. 

17 Jan 2013 - 2:27am

BDO aims to merge into challenge to Big Four firms

Albert Au

BDO, the fifth-biggest accounting firm in Hong Kong by revenue, is eyeing merger opportunities to go head-to-head with the Big Four, according to chairman Albert Au Siu-cheung.

Au has grown his firm through many acquisitions to about 1,000 employees from 160 since 1997. But he said future mergers would not follow the same pattern as before.

15 Oct 2012 - 2:53am

Shareholders give go-ahead for Youku-Tudou merger

Youku, operator of China's biggest internet video service, and smaller rival Tudou have approval from their shareholders to merge.

"The parties expect to complete the merger as soon as practicable," Beijing-based Youku said in a statement after its annual general meeting of shareholders yesterday.

21 Aug 2012 - 3:56am

MTR fares to rise - and ferries will follow

The MTR Corp yesterday announced a fare increase of 2.3 per cent, a rise of 10 HK cents to 20 HK cents per ride.

And many other forms of public transport are preparing to raise fares, too. Seven ferry routes - six outlying ferry lines and a domestic route between Hung Hom and North Point - are also expected to announce fare rises today, of HK$1.10 to HK$4.

25 Mar 2011 - 12:00am

Mainland mega-carrier could emerge amid consolidation

China's airline industry is set to see more consolidation, including the possible emergence of a mega-carrier, to compete with European and United States giants such as British Airways or United Continental, industry experts said.

11 Mar 2011 - 12:00am

Lai See

E-mail complaint shakes the foundations at architectural firm

10 Mar 2011 - 12:00am

Liaoning steelmakers to merge amid profits squeeze

Rising costs, declining profits and nationwide overcapacity are pushing two of China's largest steelmakers towards a government-arranged merger, according to deputies now meeting in Beijing at the annual National People's Congress meeting.

9 Mar 2011 - 12:00am

MTR juggernaut rolls past Octopus scandal

MTR saw underlying profit jump 18.5 per cent to HK$8.66 billion last year as a revived economy boosted almost all fronts of its core operations except Octopus cards - whose contribution to MTR's net profit fell by 15.4 per cent to HK$126 million owing to the data-privacy scandal.

4 Mar 2011 - 12:00am

Huawei wins VHA contract for complete network upgrade

Huawei Technologies, the mainland's largest telecommunications equipment manufacturer, has been contracted to overhaul all the 2G and 3G infrastructure of Vodafone Hutchison Australia (VHA) in a massive network upgrade.

23 Feb 2011 - 12:00am

HKEx puzzle: what to do with HK$7b cash pile

Cash is king, but for the cash-rich Hong Kong Exchanges and Clearing, how to spend it is proving a challenge. Does it look for merger and acquisition opportunities or return it to investors in the form of a special dividend payment or a cut in fees?

11 Feb 2011 - 12:00am

Russian oligarch sets stage for IPO No 2

The Hong Kong listing of Russian oligarch Oleg Deripaska's hydropower utility EuroSibEnergo is now back on track after a delay last year.

22 Jan 2011 - 12:00am