Issue: November 08, 2010   (Archive)
Wednesday, August 27, 2014   

Bank on brokerage as shadow risks rise
A report by US-based rating agency Standard & Poor's has highlighted the risks of the global debt market, saying higher risk for mainland borrowers means higher risk for the world.

Bad loans grieve AgBank
Agricultural Bank of China (1288), the nation's third-largest lender by market value, posted the smallest gain in quarterly profit in more than a year as it set aside more money for bad loans and fee income fell.

Snack maker tucks in
Snacks producer Want Want China (0151) yesterday said interim net profit rose 5 percent to US$303.18 million (HK$2.36 billion), amid a drop in the gross profit margin and rise in inventory turnover days.

Modern Dairy interim net doubles as milk sales surge
China Modern Dairy (1117) first-half net profit jumped 2.4 times to 523.16 million yuan (HK$653.95 million) due to strong sales of both raw milk and liquid milk products.

Mainland developers riding out turbulence
Mainland developers faced strong turbulence in the first half, with Evergrande Real Estate Group (3333) reporting a surge in its debt ratio.

Henderson net jumps
Henderson Land Development (0012) said first-half underlying profit, excluding property revaluation, surged 46 percent from a year ago to HK$3.45 billion.

Hopewell dividend issued as share deal
Hopewell Holdings (0054) declared a special dividend distribution of one share of Hopewell Highway Infrastructure (0737) for every 20 shares of the developer, hoping to boost HHI's market liquidity and shareholder base.

Luk Fook plans big expansion
Luk Fook Holdings International (0590), the second- largest jeweler in Hong Kong by market value, plans to expand in prime shopping districts as landlords hold back on raising rents.

Gome climbs on back of e-commerce move
Mainland electronics retailer Gome Electrical Appliances Holding (0493) said net profit for the first half climbed 115.2 percent from a year earlier as a successful move towards e-commerce helped the firm stretch its net profit margin.

Sinopec bidders all in
State-run Chinese oil giant Sinopec Corp (0386) has shortlisted 37 bidding consortiums for a stake of up to 30 percent in its massive fuel retail unit and plans to choose a winning bidder by the end of next month, its chairman said yesterday.

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