https://www.scmp.com/rss/35747/feed China Merchants Holdings (International) Co (HK stock code 0144) is a major Hong Kong-based conglomerate, whose activities span port operation, general and bulk cargo transportation, container and shipping business, air cargo, logistics park operation and paint products. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com China’s commercial banks are removing some of their long-term fixed-income products and cutting rates offered to depositors, in an effort to shore up profitability, as challenges, including a slumping property sector, mounting local government debt, and slow consumption recovery, weigh on lenders’ earnings. China Merchants Bank, the country’s seventh-largest bank by asset known for its retail services, said this week that it will stop offering three-year and five-year certificates of deposit... https://www.scmp.com/business/banking-finance/article/3258950/chinas-banks-withdraw-some-long-term-fixed-income-products-cut-deposit-rates-boost-margins?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3258950/chinas-banks-withdraw-some-long-term-fixed-income-products-cut-deposit-rates-boost-margins?utm_source=rss_feed Sun, 14 Apr 2024 06:04:33 +0000 Two major Chinese banks reported a growing number of non-performing loans (NPLs) on their books in the first half of the year as China’s worsening property-market crisis puts increasing strain on lenders. Both Bank of Communications, China’s sixth-largest commercial bank in terms of assets, and China Merchants Bank reported rising NPLs, joining China Construction Bank (CCB) and Bank of East Asia, which issued similar reports on Thursday. Bank of Communications on Friday evening reported its NPLs... https://www.scmp.com/business/banking-finance/article/3232367/bank-communications-china-merchants-bank-report-increasing-bad-loans-amid-property-crisis?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3232367/bank-communications-china-merchants-bank-report-increasing-bad-loans-amid-property-crisis?utm_source=rss_feed Fri, 25 Aug 2023 13:23:42 +0000 China’s top anti-corruption watchdog said on Friday that it was investigating Tian Huiyu, the former president of China Merchants Bank (CMB) who was removed from his post this week, for a suspected “serious violation of the party’s discipline and law”. A brief notice was posted on the website of the National Supervisory Commission, the country’s highest anti-corruption agency that oversees party members and civil servants. Created in 2018 as part of Beijing’s efforts to bring the governance... https://www.scmp.com/business/banking-finance/article/3175246/ex-china-merchants-bank-president-tian-huiyu-being?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3175246/ex-china-merchants-bank-president-tian-huiyu-being?utm_source=rss_feed Fri, 22 Apr 2022 13:40:49 +0000 China Merchants Bank slumped by the most in more than a decade after the nation’s biggest retail lender removed its top executive without giving a reason. Investors suffering a US$35 billion beating over two days would be asking for an explanation. The stock tanked 11.5 per cent to HK$52.90 at the close of Tuesday trading in Hong Kong, slicing HK$124.6 billion (US$15.7 billion) from its market capitalisation as trading resumed in the city after a two-day holiday. Tuesday’s losses were the worst... https://www.scmp.com/business/banking-finance/article/3174729/china-merchants-bank-sinks-most-11-years-damage?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3174729/china-merchants-bank-sinks-most-11-years-damage?utm_source=rss_feed Tue, 19 Apr 2022 03:51:53 +0000 Hong Kong stocks tumbled by the most in one week after China’s central bank signalled it’s not ready to unleash its full policy easing power to revive a faltering economy. China Merchants Bank sank after removing its top executive without giving a reason. The Hang Seng Index retreated 2.3 per cent to 21,027.76 at the close of Tuesday trading, as the market reopened after a two-day holiday. The Tech Index weakened 3.8 per cent, while the Shanghai Composite Index was little changed. China... https://www.scmp.com/business/markets/article/3174720/hong-kong-stocks-tumble-three-week-low-pboc-dents-easing-bets?utm_source=rss_feed https://www.scmp.com/business/markets/article/3174720/hong-kong-stocks-tumble-three-week-low-pboc-dents-easing-bets?utm_source=rss_feed Tue, 19 Apr 2022 02:27:03 +0000 China Merchants Bank has unexpectedly relieved Tian Huiyu of his role as president and chief executive officer, after the stock plunged in Shanghai amid talk of investigations into the affairs of the country’s largest retail bank. Tian, 56, was relieved of his job with immediate effect, and would be assigned to another post, the Shenzhen-based bank said, without specifying his new role. Tian, appointed to the bank’s top post in September 2013, will be replaced by chief financial officer Wang... https://www.scmp.com/business/banking-finance/article/3174647/china-merchants-bank-suffers-us11-billion-sell-news-report?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3174647/china-merchants-bank-suffers-us11-billion-sell-news-report?utm_source=rss_feed Mon, 18 Apr 2022 08:25:13 +0000 The compiler of Hong Kong’s main stock index added a mixed bag of consumer, finance and manufacturing firms to the Hang Seng benchmark during its quarterly review, avoiding most of the internet and Big Tech companies targeted by China’s regulators. Chinese sportswear retailer Li Ning, glassmaker Xinyi Glass Holdings and China Merchants Bank will become constituent stocks of the Hang Seng Index from next month, Hang Seng Indexes said in a statement on Friday. It will remove Bank of Communications... https://www.scmp.com/business/banking-finance/article/3145828/hang-seng-index-revamp-sees-inclusion-li-ning-xinyi-glass?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3145828/hang-seng-index-revamp-sees-inclusion-li-ning-xinyi-glass?utm_source=rss_feed Fri, 20 Aug 2021 11:56:49 +0000 Shares of China Merchants Bank (CMB), a blue-chip stock in Hong Kong, tumbled on Monday, with investors shying away from risky assets that could face further headwinds as the trade war between China and the United States escalates once again. The Shenzhen-based lender, along with Bank of Communications (BOC) and Shanghai Pudong Development Bank (SPDB), was in June held in contempt of court by a US judge for refusing to comply with subpoenas in an investigation into North Korean sanctions... https://www.scmp.com/business/banking-finance/article/3024409/china-merchants-bank-shares-tumble-investors-fear?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3024409/china-merchants-bank-shares-tumble-investors-fear?utm_source=rss_feed Mon, 26 Aug 2019 11:04:35 +0000 China Construction Bank and China Merchants Bank are seen as the two most resilient mainlands banks capable of withstanding an extreme economic downturn because of their strong capital base, according to a stress test conducted by DBS Bank. Only two other banks – Chongqing Rural Commercial Bank and Bank of Shanghai – passed the Singaporean bank’s stress test involving a total of 19 lenders, which represent 76 per cent of the assets in China’s banking industry. China’s banking industry will need... https://www.scmp.com/business/banking-finance/article/3016309/china-construction-bank-and-china-merchants-bank-ace?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3016309/china-construction-bank-and-china-merchants-bank-ace?utm_source=rss_feed Thu, 27 Jun 2019 09:00:07 +0000 Mainland Chinese commercial banks China Merchants Bank, Bank of Communications (Bocom) and Shanghai Pudong Development Bank (SPDB) on Tuesday dismissed allegations they were in possible breach of US sanctions against North Korea. In statements issued after their stocks were hammered by a Washington Post report alleging misconduct, the lenders said they have been complying with international and Chinese laws, and were not involved in any investigations related to a possible breach of the... https://www.scmp.com/business/banking-finance/article/3016000/china-merchants-bank-bank-communications-and-shanghai?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3016000/china-merchants-bank-bank-communications-and-shanghai?utm_source=rss_feed Tue, 25 Jun 2019 08:36:37 +0000 Sri Lanka formally handed over commercial activities in its main southern port to a Chinese company on Saturday and received US$292 million out of a US$1.12 billion deal, Finance Minister Mangala Samaraweera said. The deal, signed in July, will see China Merchants Port Holdings, handling the Chinese-built Hambantota port on a 99-year lease. The port is near the main shipping route from Asia to Europe and likely to play a major role in China’s “Belt and Road Initiative”. Can China’s Belt and Road... https://www.scmp.com/news/china/diplomacy-defence/article/2123658/sri-lanka-hands-over-major-port-chinese-company?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy-defence/article/2123658/sri-lanka-hands-over-major-port-chinese-company?utm_source=rss_feed Sun, 10 Dec 2017 04:09:55 +0000 Transportation conglomerate China Merchants Port Holdings is buying a 90 per cent stake in TCP Participações S.A, the operator of Brazil’s second largest container terminal, for 2.89 billion Brazilian reals (US$920 million). TCP and its subsidiaries operate the port of Paranaguá in southern Brazil, around 300 kilometres from Sao Paulo. China Merchants Port operates ports in mainland China and Hong Kong, as well as around the world in locations including Sri Lanka, Djibouti and the United States.... https://www.scmp.com/business/companies/article/2109592/china-merchants-port-buy-brazils-second-largest-container-port?utm_source=rss_feed https://www.scmp.com/business/companies/article/2109592/china-merchants-port-buy-brazils-second-largest-container-port?utm_source=rss_feed Mon, 04 Sep 2017 03:04:22 +0000 China Merchants Bank, mainland China’s first joint-stock commercial bank, posted profits for the first half of 2017 that were 11.4 per cent higher compared to the same period last year, the bank said in a filing to the Hong Kong stock exchange late on Friday. The results suggest that mainland China’s other large banks will report solid figures when they publish their interim results later this month. China Merchants Bank made pre tax profits of 39.26 billion yuan (US$5.9 billion) in the first... https://www.scmp.com/business/banking-finance/article/2107415/china-merchants-bank-profits-114pc-higher-net-interest?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2107415/china-merchants-bank-profits-114pc-higher-net-interest?utm_source=rss_feed Fri, 18 Aug 2017 13:24:46 +0000 A consortium comprising China Resources Land, Country Garden Holdings and China Merchants Industrial Zone Holdings bought the first piece of prime land near the centre of the Chinese capital city at an auction on Tuesday at rock bottom price, in a sign that stringent market-cooling rules imposed by local authorities are keeping more developers and land buyers on the sideline. The consortium paid 3.84 billion yuan (US$569 million) for the parcel just outside Beijing’s southern second ring road,... https://www.scmp.com/business/companies/article/2105003/developers-pick-beijing-land-rock-bottom-price-little-margin?utm_source=rss_feed https://www.scmp.com/business/companies/article/2105003/developers-pick-beijing-land-rock-bottom-price-little-margin?utm_source=rss_feed Tue, 01 Aug 2017 13:09:45 +0000 China Merchants Bank (CMB) will next week sharply tighten eligibility rules for mainlanders to open accounts at its Hong Kong branches, the latest move by Chinese lenders to curb capital outflows as Beijing steps up efforts to temper a slide in the yuan. Starting February 1, applicants for account opening at CMB’s Hong Kong branches, as well as at Wing Lung Bank, controlled by CMB, must have assets at the bank averaging 5 million yuan each day over the past three months, a 100-fold increase from... https://www.scmp.com/business/china-business/article/2065480/china-merchants-bank-tightens-rules-mainlanders-opening-hong?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2065480/china-merchants-bank-tightens-rules-mainlanders-opening-hong?utm_source=rss_feed Wed, 25 Jan 2017 15:58:09 +0000 China Merchants Bank announced on Friday its net profit for the third quarter rose compared to the same time a year ago, as the bank has aggressively expanded its fees and commissions revenue, even as lending profitability slowed. Net profit rose 7 per cent to 15.5 billion yuan in the three months ended September, according to its filing. Total net profit for the nine months ending September was up 6.9 per cent, reaching 48.4 billion yuan. Net interest income for the period reached 100.7 billion... https://www.scmp.com/business/banking-finance/article/2041054/china-merchants-bank-q3-profit-jumps-7pc-bolstered-fee-and?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/2041054/china-merchants-bank-q3-profit-jumps-7pc-bolstered-fee-and?utm_source=rss_feed Fri, 28 Oct 2016 11:31:25 +0000 A flurry of important interim results are due later on Thursday. Stocks in the property, bank, and gaming sectors may see big earnings moves. Swire Pacific , a Hong Kong-based real estate developer, rose 0.6 per cent to HK$91.75 on Thursday morning. The company is due to release its half-year results at noon and hold a press conference at 4pm. Analysts from Bank of America Merrill Lynch previously expected Swire Pacific to report an underlying profit of HK$3.15 billion for the first six months... https://www.scmp.com/business/companies/article/2005519/property-bank-and-gaming-stocks-brace-earnings-hong-kong?utm_source=rss_feed https://www.scmp.com/business/companies/article/2005519/property-bank-and-gaming-stocks-brace-earnings-hong-kong?utm_source=rss_feed Thu, 18 Aug 2016 03:42:48 +0000 The China Banking Regulatory Commission (CBRC), China’s top banking watchdog, will lower the bad debt provision ratio for seven listed banks, media outlet Caixin reported. Three of the big four state-owned banks – Agricultural Bank of China, China Construction Bank and Bank of China – are likely to lower the provision ratio to 130 per cent. Industrial and Commercial Bank of China, the biggest of the “big four” and the biggest bank in the world by assets, is likely to lower the ratio to 140 per... https://www.scmp.com/business/money/money-news/article/1928694/china-may-cut-bad-debt-provision-seven-listed-banks?utm_source=rss_feed https://www.scmp.com/business/money/money-news/article/1928694/china-may-cut-bad-debt-provision-seven-listed-banks?utm_source=rss_feed Tue, 22 Mar 2016 01:34:28 +0000 China’s top car-hailing app operator Didi Kuaidi has entered into a strategic partnership with China Merchants Bank to provide car financing to its 14 million drivers. China Merchants has agreed to make a strategic investment in Didi but the size of investment was not disclosed, the two companies announced in Beijing on Tuesday. The bank is joining a list of China’s big names as Didi’s investors, including the country’s sovereign wealth fund China Investment Corp, internet giants Alibaba,... https://www.scmp.com/tech/social-gadgets/article/1905777/didi-kuaidi-joins-china-merchants-bank-provide-car-financing?utm_source=rss_feed https://www.scmp.com/tech/social-gadgets/article/1905777/didi-kuaidi-joins-china-merchants-bank-provide-car-financing?utm_source=rss_feed Tue, 26 Jan 2016 15:10:22 +0000 Beijing has approved the merger of Sinotrans & CSC and China Merchants Group as part of wider restructuring of state-owned companies and consolidation of the shipping industry reeling from slowing global trade and overcapacity. The two state-owned transportation and logistics majors’ merger proposal was cleared by the State Council, China’s cabinet, State-owned Assets Supervision and Administration Commission (Sasac) said in a statement on Tuesday. “Sinotrans & CSC will be wholly merged into... https://www.scmp.com/business/companies/article/1896390/another-shipping-conglomerate-born-beijing-approves-merger?utm_source=rss_feed https://www.scmp.com/business/companies/article/1896390/another-shipping-conglomerate-born-beijing-approves-merger?utm_source=rss_feed Tue, 29 Dec 2015 13:22:38 +0000 China Merchants Bank, the country's largest joint-stock bank, on Tuesday said profit growth slowed to 8.26 per cent in the first half of the year while bad debt increased markedly from the end of March. The Shenzhen-based commercial lender brought in about 33 billion yuan between January and June, showing a significant downshift in the speed of growth compared with a year earlier, when it notched a nearly 15 per cent year-on-year growth. For the second quarter, pre-tax profit came in lower than... https://www.scmp.com/business/banking-finance/article/1852566/china-merchants-bank-shows-slowing-profits-high-bad-debt?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1852566/china-merchants-bank-shows-slowing-profits-high-bad-debt?utm_source=rss_feed Tue, 25 Aug 2015 17:58:31 +0000 Regulators have given China Merchants Bank the green light to sell off a fresh batch of asset-backed securities (ABS) using credit card debt after banning the same products just months earlier. The reopening of the credit card ABS market, which so far constitutes a fraction of the total debt that banks have securitised in China, was one of several recent signs of central government support for ABS sales in China this year. Merchants Bank will issue credit card ABS within the next few months, Bai... https://www.scmp.com/business/banking-finance/article/1816708/china-merchants-bank-relaunch-credit-abs?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1816708/china-merchants-bank-relaunch-credit-abs?utm_source=rss_feed Thu, 04 Jun 2015 13:30:00 +0000 China Merchants Holdings (International), one of the world’s biggest port operators, reported first-half net profit attributable to shareholders up 11.1 per cent to HK$2.15 billion from the same period last year as the company started to realise gains on previously invested projects. Revenue rose 4.8 per cent to HK$3.9 billion. China Merchants, which has an international portfolio of terminals, handled 38.52 million 20-foot equivalent units (teu) of containerised cargoes, up 18.1 per cent year... https://www.scmp.com/business/companies/article/1581413/port-operator-china-merchants-sees-first-half-profit-rise-111pc?utm_source=rss_feed https://www.scmp.com/business/companies/article/1581413/port-operator-china-merchants-sees-first-half-profit-rise-111pc?utm_source=rss_feed Thu, 28 Aug 2014 05:00:10 +0000 China Merchants Holdings (International) - which saw net profit jump 10.2 per cent to HK$1.94 billion in the first six months of the year - expects to perform even better during the second half, as two acquisitions start to contribute to its bottom line. Falling container throughput in its home-base ports in Shenzhen West dragged the growth rate down at the group's mainland ports to 6 per cent in the first half, as compared to national growth of 8.6 per cent. But Li Jianhong, the group's... https://www.scmp.com/business/china-business/article/1300481/china-merchants-profit-strengthen-2nd-half?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1300481/china-merchants-profit-strengthen-2nd-half?utm_source=rss_feed Thu, 29 Aug 2013 16:00:00 +0000 China Merchants Bank expects big challenges ahead as it revealed first-half profit of 26.2 billion yuan (HK$33.2 billion), a day after it won approval to sell shares in Hong Kong in what could be the world's second-biggest stock offering this year. The regulatory permission to sell about 680 million shares in Hong Kong and 3.07 billion shares in Shanghai clears the way for a 35 billion yuan offering to the bank's shareholders. Banks will be more actively seeking fundraising in capital markets... https://www.scmp.com/business/banking-finance/article/1297365/china-merchants-bank-sees-tough-environment-ahead?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1297365/china-merchants-bank-sees-tough-environment-ahead?utm_source=rss_feed Fri, 16 Aug 2013 16:00:00 +0000 Slowing growth in mainland terminal throughput in May and uncertainty about global export markets in the second half are worrying Hong Kong-based port operator China Merchants Holdings (International). Growth at mainland container ports slowed to 7.6 per cent in May from 9.4 per cent in April, the transport ministry in Beijing said on Monday. Throughput growth in the first five months of the year slowed to 9.2 per cent. Speaking after the firm's annual general meeting yesterday, China Merchant's... https://www.scmp.com/business/companies/article/1263893/slower-growth-china-port-throughput-worries-china-merchants?utm_source=rss_feed https://www.scmp.com/business/companies/article/1263893/slower-growth-china-port-throughput-worries-china-merchants?utm_source=rss_feed Tue, 18 Jun 2013 16:00:00 +0000 Cosco Pacific says it is in advanced talks to buy ports on the mainland and in Southeast Asia and Greece because of their attractive prices. The port operator, which is set to pocket US$1.2 billion from selling its container manufacturing unit to its parent Cosco Group, wants to further focus on its core business - port and container leasing businesses - when the global economy recovers. Opportunities in Southeast Asia as ties with China improve would bring in more trade. Some factories have... https://www.scmp.com/business/companies/article/1244561/cosco-pacific-eyes-ports-abroad?utm_source=rss_feed https://www.scmp.com/business/companies/article/1244561/cosco-pacific-eyes-ports-abroad?utm_source=rss_feed Thu, 23 May 2013 16:00:00 +0000 Honghua targets 10b yuan in sales China's largest land-based oil and gas drilling rigs maker Honghua Group is aiming for sales of at least 10 billion yuan (HK$12.2 billion) next year. Sales hit 3.49 billion yuan last year and 1.97 billion yuan in the first half of this year. Uncompleted orders stand at 6.5 billion yuan, comprising 6 billion yuan of rigs and 500 million yuan of engineering services. Eric Ng   Quiet weekend for home sales in HK Hong Kong's residential property remains quiet,... https://www.scmp.com/business/china-business/article/1116172/business-digest-december-31-2012?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1116172/business-digest-december-31-2012?utm_source=rss_feed Sun, 30 Dec 2012 16:00:00 +0000 China Merchants Holdings (International), a major port operator on the mainland, is on course to expand its portfolio into emerging markets by buying a half-stake in a container terminal in West Africa for €150 million (HK$1.46 billion). The announcement of the deal came yesterday as the company revealed that its net profit stumbled 55 per cent year on year to HK$1.76 billion, or 70.97 HK cents per share, in the first half. The results were dragged down by a big profit drop from its container... https://www.scmp.com/business/china-business/article/1026607/china-merchants-holdings-looks-over-horizon-port-togo?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1026607/china-merchants-holdings-looks-over-horizon-port-togo?utm_source=rss_feed Thu, 30 Aug 2012 16:00:00 +0000 China Merchants Holdings (International) said yesterday that talks over a port investment in Vietnam had been put on hold due to Sino-Vietnamese tensions, but the port operator remains upbeat about overseas expansion and profit growth is healthy. The mainland operator said it more than doubled its net profit for the first half to HK$3.9 billion from HK$1.9 billion a year earlier, thanks to a revaluation gain on its investment in Shanghai International Port Group and the appreciation of its... https://www.scmp.com/article/977679/port-owner-upbeat-after-profit-surge?utm_source=rss_feed https://www.scmp.com/article/977679/port-owner-upbeat-after-profit-surge?utm_source=rss_feed Tue, 30 Aug 2011 16:00:00 +0000 Wing Lung Bank, the local Chinese financial institution set up in 1933, was one of the Hong Kong pioneers in starting an Officer Training Programme, launched 15 years ago, which was later suspended. As a wholly owned subsidiary of China Merchants Bank (CMB) since 2009, Wing Lung has undergone rapid growth. It has also restarted a Graduate Training Programme. 'We are going to hire 10 to 15 trainees this year. Our aim is to recruit high-calibre candidates who can bring innovative ideas to the... https://www.scmp.com/article/974721/training-pioneers?utm_source=rss_feed https://www.scmp.com/article/974721/training-pioneers?utm_source=rss_feed Thu, 28 Jul 2011 16:00:00 +0000 The mainland's banking industry must evolve from overreliance on loans and interest income and expand into intermediary services, wealth management and online banking, the head of China Merchants Bank said. 'Chinese banks can't stay for the next 30 years with the ways that worked in the past 30. We must revise our path substantially. If we stay with the old path, even if it's not a dead end, it will get narrower and narrower,' bank president Ma Weihua said yesterday. Separately, the bank... https://www.scmp.com/article/973912/mainland-banks-must-find-new-profit-paths?utm_source=rss_feed https://www.scmp.com/article/973912/mainland-banks-must-find-new-profit-paths?utm_source=rss_feed Mon, 18 Jul 2011 16:00:00 +0000 The credit crunch has hit many industries but it has not slowed new port investment in Ningbo. China Merchants Holdings (International) and Citic Group said yesterday they would jointly develop a new port in Daxie to capitalise on the long-term export growth potential in the Yangtze River region. Analysts predicted a total investment of 3.2 billion yuan (HK$3.63 billion) in the port, known as Port Zone C and located in Ningbo Daxie Development Zone, which will have a quay length of 1,600... https://www.scmp.com/article/658376/china-merchants-and-citic-group-plan-32b-yuan-port-ningbo?utm_source=rss_feed https://www.scmp.com/article/658376/china-merchants-and-citic-group-plan-32b-yuan-port-ningbo?utm_source=rss_feed Thu, 30 Oct 2008 16:00:00 +0000 China Merchants Banks yesterday announced it had agreed to buy the controlling stake of Wing Lung Bank for HK$19.3 billion in cash from the founding Wu family. Merchants Bank will make a general offer for the rest of the Wing Lung shares after completing the acquisition, bringing the total consideration to HK$36.33 billion. Wing Lung was established more than 75 years ago. 'The acquisition offers a unique opportunity for CMB to establish a sizeable customer base and distribution network in... https://www.scmp.com/article/640140/cmb-confirms-deal-acquire-wing-lung?utm_source=rss_feed https://www.scmp.com/article/640140/cmb-confirms-deal-acquire-wing-lung?utm_source=rss_feed Mon, 02 Jun 2008 16:00:00 +0000 China Merchants Holdings (International) said its Shenzhen West ports would charge shipping companies in yuan instead of Hong Kong dollars in order to lessen the negative impact from the yuan's appreciation. The change would start next month, the company said after announcing a 39.6 per cent increase in net profit to HK$3.55 billion for last year. Earnings per share rose 36.6 per cent to HK$1.49. A final dividend of 45 HK cents per share was proposed. The port operator also said an... https://www.scmp.com/article/633857/china-merchants-bill-shippers-yuan-shenzhen-west-ports?utm_source=rss_feed https://www.scmp.com/article/633857/china-merchants-bill-shippers-yuan-shenzhen-west-ports?utm_source=rss_feed Tue, 15 Apr 2008 16:00:00 +0000 China Merchants Bank is targeting domestic loan growth of just 11 per cent this year, down from 19 per cent last year, to adapt to the state's tightening monetary policy. The Shenzhen-based lender, the mainland's sixth largest, expects total customer loans to reach 750 billion yuan (HK$823.95 billion) this year, compared with 673 billion yuan last year. Included in the category are corporate loans, retail loans and discounted bills. Meanwhile, the increase in customer deposits is estimated... https://www.scmp.com/article/630586/china-merchants-lowers-loan-growth-target?utm_source=rss_feed https://www.scmp.com/article/630586/china-merchants-lowers-loan-growth-target?utm_source=rss_feed Wed, 19 Mar 2008 16:00:00 +0000 Insurer cites relatively cheap valuation of overseas prospects China Life Insurance is looking for overseas acquisitions from the second quarter onwards to lift profitability, chairman Yang Chao said. He said the Beijing-based insurer had just sent a team led by chief investment officer Liu Lefei on a two-week trip to the United States and Europe to scout for buying opportunities and do research. 'We've always had the strategic intention of investing overseas, and now the second quarter... https://www.scmp.com/article/628526/china-life-prowl-us-and-europe-acquisitions?utm_source=rss_feed https://www.scmp.com/article/628526/china-life-prowl-us-and-europe-acquisitions?utm_source=rss_feed Mon, 03 Mar 2008 16:00:00 +0000 Today Interim: Victory Group Final: Bossini International Holdings, China Motor Bus, Dynamic Holdings, Hua Han Bio-Pharmaceutical Holdings, Shang Hua Holdings, Universe International Holdings October 22 3rd Quarter: China Merchants Bank Final: Prime Investments Holdings, QPL International Holdings, Smart Rich Energy Finance (Holdings), Ta Yang Group Holdings, Wonderful World Holdings AGM: TeleEye Holdings October 23 3rd Quarter: CLP Holdings, Huaneng Power International, Tsingtao Brewery Final:... https://www.scmp.com/article/612013/results?utm_source=rss_feed https://www.scmp.com/article/612013/results?utm_source=rss_feed Wed, 17 Oct 2007 16:00:00 +0000 Today Final: Fittec International Group, Golden Harvest Entertainment (Holdings), Hua Yi Copper Holdings, Solartech International Holdings AGM: Neo-China Group (Holdings) Tomorrow Interim: Victory Group Final: Bossini International Holdings, China Motor Bus, Dynamic Holdings, Hua Han Bio-Pharmaceutical Holdings, Shang Hua Holdings, Universe International Holdings October 22 3rd Quarter: China Merchants Bank Final: Prime Investments Holdings, QPL International Holdings, Smart Rich Energy Finance... https://www.scmp.com/article/611907/results?utm_source=rss_feed https://www.scmp.com/article/611907/results?utm_source=rss_feed Tue, 16 Oct 2007 16:00:00 +0000 Company announces listing goal after lifting earnings 26pc China Merchants Holdings (International), which is buying a 45 per cent stake in Zhanjiang Port, will take the facility public as early as 2009. The company announced its intention as it reported a 26 per cent increase in interim profits. 'Zhanjiang Port is the most sizable port in southwest China and an ideal place for developing iron ore and oil terminals,' chairman Fu Yuning said. Mr Fu said Zhanjiang Port would make use of the... https://www.scmp.com/article/608571/china-merchants-plans-spin-zhanjiang-port?utm_source=rss_feed https://www.scmp.com/article/608571/china-merchants-plans-spin-zhanjiang-port?utm_source=rss_feed Wed, 19 Sep 2007 16:00:00 +0000 Firm diversifies in 1.62b yuan investment China Merchants Holdings (International), a leading mainland port operator, plans to invest 1.62 billion yuan in a port in Guangdong province to diversify into oil and bulk cargo terminal handling. The company will take a 45 per cent stake in Zhanjiang port, while the local government will pay 1.98 billion yuan for the rest of the terminal. The stake is priced at 42.6 times Zhanjiang port's 2006 net profit, which jumped 1.76 times to 84.44... https://www.scmp.com/article/608183/china-merchants-acquire-port-stake?utm_source=rss_feed https://www.scmp.com/article/608183/china-merchants-acquire-port-stake?utm_source=rss_feed Sun, 16 Sep 2007 16:00:00 +0000 Today 1st Quarter: Byford International, China Data Broadcasting Interim: AAC Acoustic Technologies Holdings, Allied Group, Allied Properties (HK), Arts Optical International Holdings, Baoye Group, China Coal Energy, China Glass Holdings, China High Speed Transmission Equipment Group, China Merchants China Direct Investments, China Rare Earth Holdings, China Resources Land, CNPC (Hong Kong), Cross-Harbour (Holdings), DVN (Holdings), Earnest Investments Holdings, Eco-Tek Holdings, ENM Holdings,... https://www.scmp.com/article/607788/results?utm_source=rss_feed https://www.scmp.com/article/607788/results?utm_source=rss_feed Thu, 13 Sep 2007 16:00:00 +0000 Net profit rises to 6.1b yuan as higher loan demand boosts income China Merchants Bank, the Shenzhen-based lender, said profit surged 120 per cent in the first half after it earned more interest from higher loan demand amid the country's fast economic growth. Net profit rose to 6.12 billion yuan in the first six months from 2.77 billion yuan a year ago, higher than market expectations of less than six billion yuan and almost approached the full-year profit of 6.79 billion yuan last... https://www.scmp.com/article/603706/merchants-bank-earnings-surge-120pc?utm_source=rss_feed https://www.scmp.com/article/603706/merchants-bank-earnings-surge-120pc?utm_source=rss_feed Thu, 09 Aug 2007 16:00:00 +0000 Shenzhen-listed China International Marine Containers did not have immediate plans to inject more assets into Enric Energy Equipment although it would not rule out such a possibility, said vice-president Zhao Qingsheng (right). Last week, CIMC bought a 42.18 per cent stake in Hong Kong-listed Enric for HK$1.13 billion from Enric's largest shareholder Wang Yusuo (second left). It is offering to buy more shares at HK$5.92 each. https://www.scmp.com/article/603468/cimc-focuses-enric?utm_source=rss_feed https://www.scmp.com/article/603468/cimc-focuses-enric?utm_source=rss_feed Wed, 08 Aug 2007 16:00:00 +0000 China Merchants Holdings (International), which owns stakes in the country's five largest ports, plans to develop a 7.27 billion yuan port in Shenzhen with the municipal government and another company. The joint venture, called Dachan Bay Phase II, will be 14 per cent owned by Hong Kong-listed China Merchants, 35 per cent held by the city government's Shenzhen Dachan Bay Port Investment Development and 51 per cent by APM Terminals Dachan, a unit of Danish shipping giant AP Moller Maersk... https://www.scmp.com/article/598246/further-expansion-prd-ports?utm_source=rss_feed https://www.scmp.com/article/598246/further-expansion-prd-ports?utm_source=rss_feed Mon, 25 Jun 2007 16:00:00 +0000 China Merchants Holdings (International) may issue A shares despite concerns about the overheating market, according to company chairman Fu Yuning. 'The pricing of A shares is very tempting but the valuation of the whole market carries a high risk for investors,' said Mr Fu, after the company's annual shareholders' meeting yesterday. 'We demand a mature and healthy market which could be accomplished by the regulator [explaining] the risks to small and medium-sized investors.' China... https://www.scmp.com/article/594367/china-merchants-may-defy-share-risks?utm_source=rss_feed https://www.scmp.com/article/594367/china-merchants-may-defy-share-risks?utm_source=rss_feed Fri, 25 May 2007 16:00:00 +0000 China Merchants Holdings (International), or CMHI, is to sell its entire equity interest in its Singapore-listed toll-road subsidiary to China Merchants Group for HK$2.95 billion, as the parent company consolidates its toll-road division before spinning it off in the A-share market. Port operator CMHI would dispose of 72 per cent of the total common shares and 100 per cent of the redeemable convertible preference shares issued by China Merchants Holdings (Pacific), the company said... https://www.scmp.com/article/594218/china-merchants-sells-toll-road-unit-parent?utm_source=rss_feed https://www.scmp.com/article/594218/china-merchants-sells-toll-road-unit-parent?utm_source=rss_feed Thu, 24 May 2007 16:00:00 +0000 Today Final: Allied Group, Allied Properties (HK), Baoye Group, China Merchants Bank, China National Building Material, Chitaly Holdings, CNT Group, FinTronics Holdings, Fong's Industries, Forefront International Holdings, Guangdong Nan Yue Logistics, HKC (Holdings), IPE Group, Jackin International Holdings, Ju Teng International Holdings, Kasen International Holdings, Luks Industrial (Group), Mainland Headwear Holdings, Ningbo Yidong Electronic, Pacific Plywood Holdings, Shun Tak Holdings,... https://www.scmp.com/article/589109/results?utm_source=rss_feed https://www.scmp.com/article/589109/results?utm_source=rss_feed Sun, 15 Apr 2007 16:00:00 +0000 Today Final: Earnest Investments Holdings April 16 Final: Allied Group, Allied Properties (HK), Baoye Group, China Merchants Bank, China National Building Material, Chitaly Holdings, CNT Group, FinTronics Holdings, Fong's Industries, Forefront International Holdings, Guangdong Nan Yue Logistics, HKC (Holdings), IPE Group, Jackin International Holdings, Ju Teng International Holdings, Kasen International Holdings, Luks Industrial (Group), Mainland Headwear Holdings, Ningbo Yidong Electronic,... https://www.scmp.com/article/588924/results?utm_source=rss_feed https://www.scmp.com/article/588924/results?utm_source=rss_feed Fri, 13 Apr 2007 16:00:00 +0000 China Merchants Holdings (International), the mainland's largest listed port operator, has confirmed it will invest in a US$1 billion project in Vietnam - its first overseas port project - after reporting a 7.4 per cent profit growth. Net profit rose to HK$2.54 billion last year from HK$2.36 billion in 2005, thanks to a 64.2 per cent surge in its container throughput that boosted turnover by 47 per cent to HK$4.37 billion. The profit is below a mean estimate of HK$2.65 billion in a Thomson... https://www.scmp.com/article/588717/china-merchants-first-port-foray-overseas-after-profit-climbs-74pc?utm_source=rss_feed https://www.scmp.com/article/588717/china-merchants-first-port-foray-overseas-after-profit-climbs-74pc?utm_source=rss_feed Thu, 12 Apr 2007 16:00:00 +0000