Issue: November 08, 2010   (Archive)
Friday, August 28, 2015   

Legend soars despite profit plunge at core unit
Conglomerate Legend Holdings (3396) released its first interim results since listing in June by reporting a 209 percent leap in profit to 4.02 billion yuan (HK$4.86 billion), boosted by returns from property investment.

Sing Tao earnings up 7.8pc
Sing Tao News Corporation (1105) earned HK$32.7 million for the six months to June, up 7.8 percent from a year ago, as its core media segment saw profit climb 4.8 percent to HK$50.1 million, only to be offset by losses in other dealings.

Rusal profit soars, but no dividend paid
Russia-based Rusal Plc (0486) reported a 158 percent jump in second- quarter core profit yesterday beating forecasts thanks to sharp cost cuts and a weaker ruble, but opted not to pay a dividend due to limits imposed by its lenders.

ICBC, AgBank rocked by huge bad loans
The first two mainland banking giants to report earnings this week have two things in common: zero profit growth and bad loans piling up at more than twice the pace of a year earlier.

PetroChina net profit drops 63pc on lower prices
PetroChina (0857) reported a 63 percent plunge in first-half profit, with earnings upstream and in the marketing segment hit by lower prices, while earnings from natural gas jumped.

BoCom hit by NPLs
Net profit at the Bank of Communications (3328) for the first half rose 1.5 percent to 37.32 billion yuan (HK$45.15 billion) but bad loans continued to increase.

BYD speeds ahead on new-fuel cars
Chinese carmaker BYD (1211) said it could sell 60,000 new- energy cars this year after sales in the first half hit 20,000.

Keep on bracing for high volatility
Overnight strength in US stocks spread to Asia yesterday and the Hang Seng Index gained 758 points while the Shanghai Composite Index rose 5.3 percent.

Unit drags on dairy
China Mengniu Dairy (2319) chief executive Sun Yiping said the industry in the mainland faces challenges of excess supply of raw milk, but added the firm will keep its prices stable.

Prices cut as stocks shock hits home
Subdivided units are a feature of Hong Kong's housing market, Kowloon Development (0034) said, as it priced mini flats in its Hung Hom project at an average of HK$15,567 per sellable square foot after discounts.

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