- PetroChina, the top two oil titans in China, may book a combined loss
of USD40 bn this year in their refining businesses due to the
increasing cost of oil production, according to sources.
- China's automobile export was up 69.46 per cent from a year earlier
to 71,000 units in April, hitting an all-time high of exporting over
70,000 vehicles within a month, according to China Association of
Automobile Manufacturers.
- China Vanke Co Ltd, the country's largest publicly traded property developer, announced its sales revenue in May amounted to RMB 5.34 bn, up 13.4 per cent compared with the same period of last year, according to Vanke's monthly sales reports.
- Little Sheep Group Ltd, a hotpot chain in China, has raised HK780m in its IPO in Hong Kong, state media reports.
- Shin Kong Financial Holding said that its wholly-owned unit Shinkong
Life Insurance Co Ltd, the No. 3 insurer in Taiwan by premium, has
booked a USD 24.18m asset writedown in the second quarter, reflecting
a downward credit ratings on its CDO portfolio.
- Sinosteel Corp, one of the largest steelmakers in China, said that it
has raised its stake in Australia's mining developer Midwest Corp from
19.9 per cent to 28.4 per cent.
- Hangzhou City Commercial Bank posted its 2007 net profit jumped 42
per cent from a year earlier powered by hefty interest income. Net
profit climbed to RMB850m last year, citing the Chinese accounting
standards, compared with revised RMB600m in 2006, said the company
in a statement.
- Far Eastern Textile Ltd, Taiwan-based fiber and textile products
manufacturer, is selling five-year corporate bonds worth of NTD1 bn,
according to local newspapers.
- London-based Standard Chartered Plc announced its transaction of 2007
jumped 80 pe rcent in China, quintupled the lender's average growth in
other countries, sources cited the company's announcement as saying.
- The benchmark Shanghai Composite Index, which covers both A shares
and B shares on the Shanghai Stock Exchange, edged down 0.54 per cent
or 18.27 to 3,351.65 points after fluctuating between 3,376.34 and
3,326.54 points.
Last update : Sunday, 08 June 2008
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