HONGKONG Telecom confirmed it has been making refunds to fax-owners who claimed to have been billed for phantom calls, but it says it is stopping the refund because some customers have been abusing the company's generosity. Chinese Vice-Premier Zhu Rongji ordered intervention that recalls the days of heavy handed central planning to support the yuan on the Shanghai swap market. Figures issued by the State Statistical Bureau in Beijing on Monday showed gross domestic product growth slowing and inflation still rising. The Securities and Futures Commission (SFC) announced it is open to proposals intended to radically alter the method used for offering shares in certain types of new listings. Financial Secretary Hamish Macleod warned that China's economic slowdown will shave one percentage point off Hongkong's gross domestic product growth. The prospectus for Guangzhou Shipyard International, the latest of the nine mainland companies to float in Hongkong was published on Tuesday as directors warned that its major foreign currency earner was facing a 20 per cent profit fall this year. The Monetary Authority withdrew its $800 million on Tuesday from the interbank market in the wake of smaller-than-expected over-subscriptions for recent listings by China stocks. Company results SHANGHAI refrigerator Compressor Co reported a net profit of 29.5 million yuan (about HK$39 million) for the past six months. Restaurant group Tack Hsin Holdings reported a 33 per cent rise in profit before extraordinary items to $38.55 million the year. Record restaurant receipts boosted Cafe de Coral's net profit to $136.92 million, up 35.11 per cent for the year. Newspaper publishing firm Sing Tao Holdings reported a 157.9 per cent growth in net profit to $323.9 million. Culturecom Holdings posted an 86 per cent jump in net profit to $103 million. Leefung-Asco Printer Holding reported a 14 per cent rise in profit to $47.7 million for the year. Tungtex Holdings' net profit jumped 32 per cent to $59.2 million. Innovative International's net profit leapt 73.81 per cent to $101.18 million for the year. Lane Crawford posted after-tax profits of $155.1 million for the year, a 26.2 per cent rise. ANEX International Holdings reported an 8.6 per cent rise in profit to $53.24 million for the year. Concrete pipe maker International Pipe posted a net profit of $28.1 million. World International reported a net profit rise of 50.36 per cent to $1.47 billion for the year. Lueng Kee Holdings reported a 82.46 per cent rise in profit to $20.52 million for the year. Burligame International reported a 813.5 per cent rise in profit to $64.86 million for the year.
