We incorrectly reported on July 7 that Putian Group chairman Ouyang Zhongmou had been formally arrested by mainland authorities. A company spokesman said yesterday that Mr Ouyang had not been detained or arrested in connection with economic crimes uncovered at a state company where he worked previously. Putian plans to list overseas this year. Cheung Kong director Names associate Cheung Kong (Holdings) director Simon Murray appointed controversial former Housing Authority chairwoman Rosanna Wong Yick-ming as his alternate director from yesterday, the company announced last night. Ms Wong resigned from the Housing Authority in 2000 ahead of a Legco no-confidence vote after a piling scandal on public housing estates. Dawnrays initial share offer fully subscribed Dawnrays Pharmaceutical (Holdings), whose listing plan was marred by an anonymous complaint, said its 248 million share initial public offering was fully subscribed. The issue was priced at 80 cents, towards the low end of the initial price range of 75 cents to $1.03. It will debut tomorrow. Asia aluminium signs loan Asia Aluminium, the region's largest extruder of the metal, has signed a three-year US$75 million syndicated loan, of which $40 million is to refinance an existing loan and the remainder for working capital. It expects to save $10 million in interest a year. Huaneng output rises Huaneng Power International, China's largest independent power producer, generated 41.08 billion kilowatt hours of power in the first half, up 39.63 per cent year on year. The addition of acquired generation capacity contributed to the growth.