Issue: May 10, 2006   (Archive)
Thursday, November 26, 2015   

Shares fallout after CKI's failed play
Shares of Cheung Kong Infrastructure (1038) and Power Assets (0006) fell yesterday after half of the latter's minority shareholders voted down a merger plan with the flagship of tycoon Li Ka-shing.

East Tower sale
Wheelock & Co (0020), which sold One HarbourGate West Tower to China Life (2628) earlier this month, has started a sale of the East Tower, an adjacent unfinished office building it is developing in the Hung Hom area of Kowloon.

Premium for Lohas Park 9 falls
MTRC (0066) has invited developers to submit tenders for Lohas Park 9, with land premium estimated to be 10 percent lower than that for Phase 8.

Giants in Yuen Long sales drive
Two local heavyweights, CK Property (1113) and Sun Hung Kai Properties (0016), are going head to head in their bid to tap homebuyers for their projects in Yuen Long.

UBS picture grim if yuan slides further
UBS expects the Hang Seng Index to slump 20 percent and go below 18,000 points in 2016 if the yuan dips further.

Brokerage got numbers wrong
CITIC Securities (6030), China's biggest brokerage, overstated some of its financial derivatives by more than 1 trillion yuan (HK$1.21 trillion) in monthly reports from April to September, the country's securities association said.

PetroChina to sell pipeline unit
PetroChina Company (0857) unveiled plans to sell its pipelines business, as the country's biggest oil and gas producer struggles to meet its annual profit target amid weak crude prices.

China Energy IPO gains support -
China Energy Engineering Corporation, a state-owned builder of power plants, saw 20 cornerstone investors, including China's Silk Road Fund, subscribe to 60 percent of its HK$15.6 billion billion initial public offering .

Banks hike yuan rates
Local banks are raising interest rates on yuan deposits to attract more capital as the Hong Kong interbank-offered rates rose after China moved to restrict trading of offshore yuan clearing banks.

Citibank bullish on China developers
Mainland developers may see their share prices outperform the Hang Seng Index in the first half of next year, with total home sales hitting a historic high during 2016, Citibank said yesterday.

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