Cosco Corporation (Singapore) says Cosco (Guangdong) Shipyard Co. has delivered a 57,000 dwt bulk carrier Marine King to its Asian buyer. The bulk carrier measures 189.99 meters in length, 32.26 meters in breadth and 18.00 meters in depth.
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Hutchison Whampoa Ltd.’s sale of Chinese port assets may raise more than Singapore’s combined 31 initial public offerings last year, boosting the city’s efforts to compete as a financial center.
Hutchison, controlled by Hong Kong billionaire Li Ka-shing, said yesterday it will sell a stake in a trust holding container ports in Hong Kong, Macau and Guangdong province, along with associated businesses and some Chinese river ports. The sale may raise US$6 billion ($7.7 billion), the IFR news service reported yesterday.
Hutchison, controlled by Hong Kong billionaire Li Ka-shing, said yesterday it will sell a stake in a trust holding container ports in Hong Kong, Macau and Guangdong province, along with associated businesses and some Chinese river ports. The sale may raise US$6 billion ($7.7 billion), the IFR news service reported yesterday.
Hutchison Whampoa’s sale of Chinese port assets may raise more than Singapore’s combined 31 initial public offerings last year, boosting the city’s efforts to compete as a financial centre.
Hutchison, controlled by Hong Kong billionaire Li Ka-shing, said yesterday it will sell a stake in a trust holding container ports in Hong Kong, Macau and Guangdong province, along with associated businesses and some Chinese river ports. The sale may raise US$6 billion ($7.7 billion), the IFR news service reported yesterday.
Li Ka-Shing’s Hutchison Whampoa, the world’s biggest container-terminal operator, will sell deep-water port holdings in Hong Kong and southern China, hubs of record global trade, in what may be Singapore’s largest-ever initial public offering.
The company will retain a stake of about 25% in the trust that will own terminals in Hong Kong and neighboring Guangdong province, port operations along the Pearl River and shipping-support businesses, it said in a statement today.
The company will retain a stake of about 25% in the trust that will hold deepwater container port operations in Hong Kong and Guangdong province, along with associated businesses and some Chinese river ports, it said in a statement today.
Hutchison Whampoa, controlled by billionaire Li Ka-Shing, plans to list Hong Kong and Southern Chinese ports in a Singapore trust to raise funds for expansion plans.
The company will retain a stake of about 25% in Hutchison Port Holdings Trust, which will hold the group’s deepwater container port operations in Hong Kong and Guangdong province, along with associated businesses and some Chinese river ports, Hutchison said in a Hong Kong stock exchange statement today. It didn’t say how much the listing may raise.
Cosco Corporation (Singapore) says subsidiaries Cosco (Zhoushan) Shipyard Co. and Cosco (Guangdong) Shipyard Co. have each delivered a 57,000 dwt bulk carrier, the Almeria and Agria, to their European buyers. The two 57,000 dwt bulk carriers measure 189.99m in length, 32.26m in breadth and 18m in depth.
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Cosco Corporation (Singapore) says Cosco (Guangdong) Shipyard Co., a unit of the company’s 51% owned subsidiary, Cosco Shipyard Group Co., has secured contracts valued over US$51 million ($68 million) to build two bulk carriers of 57,000 dwt and 35,000 dwt. The contracts are effective following receipt of the initial deposits from the European ship owner.
The bulk carriers which will be built at Cosco (Guangdong) shipyards are scheduled for deliveries in August 2012 and December 2012 respectively.
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Keppel Land says it expects to launch the first edition of homes in the waterfront residential cum marina development in Zhongshan, Guangdong province, China, in early 2012.
It also announced it had acquired an additional 66 hectares of the waterfront site.
The first edition homes will feature luxurious villas of various sizes in excess of 400 square metres. Construction is scheduled to commence in phases from end-2010.
Keppel Land had first announced in April 2008 its interest to develop premium waterfront homes in the affluent Pearl River Delta region of Zhongshan, located on MoDao Island in the Shenwan Town of Zhongshan City. Carried out in phases, the acquisition was done through Sunseacan Investment (HK) Company, of which Keppel Land has an 80% stake through its wholly-owned subsidiary, Sunsea Yacht Club (Zhongshan) Co.
Victor Jia Bin has been appointed CFO wef Aug 20
Work experience: Audit manager, Deloitte Touche Tohmatsu CPA Ltd, Guangzhou Branch; audit manager, Guangdong Qinmingxing Certified Public Accountants Co Ltd
Cosco Corporation (Singapore) says Cosco (Guangdong) Shipyard Co., a subsidiary of the company’s 51%-owned Cosco Shipyard Group Co, has delivered Ioannis Theo, a 57,000 dwt bulk carrier, to its European buyer. The bulk carrier measures 18m high, 32.26m wide, and 189.99m long. The delivery documents were signed by and between Cosco (Guangdong) and the buyer yesterday.
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Mainboard-listed Debao Property Development, the developer of quality integrated residential and commercial properties in Foshan, Guangdong province, today reported a net profit attributable to shareholders of RMB9.6 million ($1.92 million) for the second quarter ended 30 June 2010 (2Q2010), reversing a net loss of RMB7.3 million in the year-ago period.
The group announced a 6% rise in sales to RMB97.8 million, boosted by an increase in revenue contribution from construction contracts but weighed down by a decrease in revenue from property development sales.
Cosco Corporation (Singapore) says Cosco (Guangdong) Shipyard Co., a unit of the company’s 51%-owned subsidiary, Cosco Shipyard Group Co., has secured contracts valued over US$55 million ($74.4 million) to build two bulk carriers of 57,000 dwt each. The contracts follow initial deposits made by the unidentified Asian ship owner. The bulk carriers will be built at Cosco (Guangdong) shipyards and are scheduled for deliveries in September 2011 and March 2012 respectively.
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Cosco Corporation (Singapore) says Cosco (Dalian) Shipyard Co. and Cosco (Guangdong) Shipyard Co. the two subsidiaries of the company’s 51% owned unit Cosco Shipyard Group Co. have today signed 11 contracts and 4 letters of intent totalling over US$440 million ($616 million) with four European shipowners to build 15 units of bulk carriers.
Four units of the bulk carriers are 82,000 dwt each and 11 units of the bulk carriers are 57,000 dwt each.
Deliveries of the vessels to the shipowners are expected to take place between the end of 2011 and the middle of 2013.
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Cosco Corporation (Singapore) says units Cosco (Zhoushan) Shipyard Co. and Cosco (Guangdong) Shipyard Co. have each delivered one 57,000 dwt bulk carrier to their European buyers. However, subsidiary Cosco (Dalian) Shipyard Co. has agreed to let a Asian shipowner reschedule the delivery of one 80,000 dwt bulk carrier.
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China Angel Food, the manufacturer and distributor of confectionery and other food products in Guangdong province, has reported a net loss of RMB3.22 million ($647,000) for the first quarter of 2010 (1Q FY10) compared to a net profit of RMB304,000 a year ago.
China Angel Food, the manufacturer and distributor of confectionery and other food products in Guangdong province, has reported a net loss of RMB3.22 million ($647,000) for the first quarter of 2010 (1Q FY10) compared to a net profit of RMB304,000 a year ago.
Newly-listed Debao Property Development, the developer of residential and commercial properties in Foshan, Guangdong province, China, reported a net loss of RMB23.3 million ($4.7 million) in FY2009 from RMB197.6 million in FY2008.
Weekend Comment Sept 3: Infrastructure infatuation
But market punters have been fixated on Macquarie International Infrastructure Fund of late, a mutual fund which owns four assets. After selling British broadband operator Arqiva for $238.4 million and Canadian Aged Care for $91 million this March, the fund now owns primarily Asian assets. These are a 38% stake in Changshu Xinghua Port (Jiangsu), an 81% interest in Hua Nan Expressway in Guangdong, 20% stake in Taiwan Broadband Communications (TBC) and a 100% stake in Miaoli Wind, a wind farm in Taiwan.
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