Azeus Systems Holdings, the Hong Kong-based provider of IT consultancy services, says it has won a five-year contract worth HK$69.97 million ($11.5 million) from the Hong Kong government to provide maintenance services for 53 application systems in a major department.
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The company, based in Jingjiang in eastern Jiangsu province, aims to list in Hong Kong in the first half of this year, said the people, who declined to be identified because the information is confidential.
All of Chi-East’s initial participants — Instinet, Deutsche Bank (DBKGn.DE), Morgan Stanley (MS.N), Nomura and UBS (UBSN.VX)— have successfully matched trades on the platform, the firm said in a statement.
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.
An advertisement featuring a scantily clad Pamela Anderson frisking and stripping travellers has been rejected by Hong Kong airport, animal protection campaigners have said. The commercial is the latest to be made by the group People For the Ethical Treatment of Animals (PETA) in their long-running campaign against the use of animal furs and skins [...]
Hong Kong and Singapore are the most investor-friendly economies in the Asia Pacific, helped by effective governments, openness to trade and “generous tax breaks,” according to a survey by Vriens & Partners Pte.
Hong Kong ranks first and Singapore second among 18 regional economies covered by the Singapore-based consulting company’s Good Governance for International Business — Asia Pacific 2010 report. The survey asked 100 executives from mining, oil and gas, telecommunications and consumer goods companies to judge each market in the areas of rule of law, openness to international trade and business, taxation, corruption, public-sector quality and effectiveness, and fiscal and monetary administration.
Eu Yan Sang International says wholly-owned subsidiary in Hong Kong, Eu Yan Sang (Hong Kong) Limited has acquired 90% interest in Yan Sang Biotechnology Company for HK$6.12 million ($1.03 million).
“We don’t want to grow very fast in retail mortgages because the return is not there,” Sebastian Paredes, chief executive officer of the Hong Kong unit of Southeast Asia’s largest bank, said at a briefing today. “We believe there are other areas of higher growth and higher returns that merit our resource allocation.”
UOB KayHian downgrades Genting Hong Kong (S21.SG) to Hold vs Buy, raises target to US$0.39 vs US$0.31; says recent visits to Resorts World Manila (RWM), Penang cruise "provided assurance that while our optimistic earnings forecast for 2011 can be met, they leave little room for upside", according to Dow Jones.
Ling Yew Kong has resigned as non-executive chairman wef Oct 8
Reason for cessation: Retired at AGM due to work commitments in the coming year and may not be able to devote sufficient time in discharging his responsibilities as a director of the company.
Joint Treasure bought the eight-acre (3.2-hectare) property next to the Beverly Hilton — for less than a third of its sale price of about US$500 million in 2007 — at auction from Mexican billionaire Carlos Slim’s bank, Inbursa.
Genting Hong Kong (S21.SG) down 10.5% at almost 3-week low of US$0.425 ($0.562) in active trade, says Dow Jones.
The fall comes as pullback in sister company’s stock due to sale of shares in open market by Genting Singapore’s (G13.SG) CEO fuels concerns cruise company’s top executives may do the same, especially after stock’s huge run-up in recent weeks.
In news sure to make Great White Way fanatics go bananas: King Kong will soon be thumping his chest on the Broadway stage, if theater aficionados have their way.Last week, producers with Global Creatures issued a press release revealing that work is underway on a Broadway musical version of the cinema classic — which first [...]
A tax cut uncorks a boom
IN 2004 a businessman named Jim Thompson leased a set of old munitions bunkers in Hong Kong and converted them into wine cellars. It was a bold move. Few East Asians then had a taste for fine wine, and Mr Thompson’s firm, Crown Worldwide Group, was accustomed to the steadier business of shipping expatriates’ furniture around the globe. But Crown made strenuous efforts to seduce potential customers with lavish tastings and other jolly social events. The venture grew steadily until, four years later, the bunkers had 100,000 bottles in store.
All this was despite a heavy sales tax that suppressed demand for wine in Hong Kong. In early 2008 that tax was cut to zero. Since then, 400,000 more bottles have been crammed into Crown’s bunkers, filling them to the brim and forcing the firm to build a vast new warehouse. …
Genting Hong Kong (S21.SG) +8.0% at three-year high of US$0.475 ($0.636) in active trade, extending hefty 54.4% gain so far this month alone, on continued optimism over cruise operator’s 50%-owned gaming investment Resorts World Manila, according to Dow Jones.
Sentiment bolstered by strong performance of sister firm Genting Singapore’s (G13.SG) Resorts World Sentosa, which helped company return to profitability in 2Q10.
Mainboard-listed Karin Technology Holdings, one of the leading IT and components solutions and services provider in Hong Kong and China, says wholly-owned subsidiary, Compucon Computers, has been appointed by Imation Corporation to distribute Imation’s DVR products in Hong Kong and Macau from August 2010. Imation is a leading global technology vendor of data storage and security products, electronics and accessories to customers in more than 100 countries.
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