Investors balk at hotel deal: some fear state of Shanghai Industrial's parent

Article Abstract:

Minority shareholders in Shanghai Industrial Holdings are not in favor of the company's proposal to acquire two hotels from its parent company Shanghai Industrial Investment Holdings. With the acquisition costing around $193.6 million, investors allege that they are being asked to pay more than they are willing to spend. They fear that, like other mainland holding companies, Shanghai Industrial is now turning to its Hong-Kong listed subsidiary to bolster its financial position.

Diversified Companies, Asset sales & divestitures, Acquisitions & mergers, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Conglomerate corporations, Mergers, acquisitions and divestments, Hotels and motels, Investor relations, Shanghai Industrial Holdings Ltd., Shanghai Industrial Investment Holdings

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Not every red-chip stock should be judged equally: Ng Fung Hong isn't beset with the financial problems burdening rival Guangnan

Article Abstract:

The stock price of Chinese food firm Ng Fung Hong has fallen despite its financial health. Ng Fung Hong and its rival Guangnan are referred to as the red-chips companies because they are owned by mainland entities. Ng Fung Hong officials have stated that they have not signed letters of credit for third parties, that they have not traded in properties and that they had HK$1.4 billion in cash in 1998 compared to Guangnan's HK$107 million.

Food industry, Securities, Ng Fung Hong, Guangnan Holdings Ltd.

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First Pacific to sell stake in Hagemayer: Hong Kong-based company also acknowledges San Miguel investment

Article Abstract:

First Pacific Corp has announced that it will sell its shares in Hagemayer NV to finance its investment interests in the Philippines. The company plans to sell its 40% stake in Hagemayer to buy San Miguel Corp stocks which are roughly equivalent to the Hagemayer stocks' value. First Pacific hopes to raise $1.6 billion from the sale while San Miguel officials maintain that they will resist any takeover attempt by the company.

Other Electrical Equipment and Component Manufacturing, FOOD AND KINDRED PRODUCTS, Electronics, Electronic Components and Accessories, Holding Offices, Planning, Trading companies, Hagemeyer N.V., First Pacific Corp.

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