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.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
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.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Faster by the feeder. No frills and low fares. Jeffrey Katz: new pilot in Swissair's cockpit
- Abstracts: Creative set to climb: but development of new products is now key. Fanuc's narrowing lead
- Abstracts: The great pension debate. Retiring the state pension. Latin lessons on pensions
- Abstracts: Men's and women's outerwear in the Netherlands. Women's outerwear in Germany. Men's outerwear in Italy
- Abstracts: Sell up or pay up. Small firms fear VAT changes. An ACT of attrition