HK foreign currency reserves on the rise
Hong Kong's official foreign currency reserve assets increased to US$123.6 billion at the end of last month from US$121.5 billion a month earlier, according to the Hong Kong Monetary Authority. Hong Kong remains in sixth spot in foreign currency reserves rankings, after Japan, the mainland, Taiwan, Korea and India.
Cosco takes big slice of CImc in share transfer
Cosco Pacific has become one of the largest shareholders of Shenzhen-listed China International Marine Containers (CIMC) after a share transfer from its parent. In October last year, the Hong Kong-listed company said it would buy a 1.05 billion yuan stake or 163.7 million legal person shares of CIMC from Cosco Group.
Kingboard to take E&E private with share buyout
Kingboard Chemical Holdings will acquire all the shares of Elec & Eltek International Holdings (E&E) and privatise E&E. Both companies are listed on the Hong Kong stock exchange. As of Thursday, Kingboard held 95.26 per cent or 1.16 billion shares in E&E. It will acquire all remaining E&E shares at $1.90 each.
