Yantai companies prepare for overseas fund-raising
About 20 small to medium-sized private firms from petrochemicals, food processing, textile and machinery sectors in Yantai, Shandong province, are preparing to list overseas, including in Hong Kong, Singapore and New York, said Chen Xiancui, the head of Yantai's Foreign Trade and Economic Co-operation Bureau.
SHK Properties wins right to develop Tai Kok Tsui project
Sun Hung Kai Properties won the right to develop the Urban Renewal Authority's HK$900 million project in Tai Kok Tsui yesterday. The 23,570 square foot site at Larch and Fir streets could be developed into a residential-commercial project with a gross floor area of 212,160 square feet. Yvonne Liu
Shougang to axe 17,500 workers
Mainland steel firm Shougang Corp will cut 21 per cent or 17,500 of its workforce to 65,000 by 2010 as it moves from Beijing to Hebei.
