Date
23 January 2018

HKEJ

Hong Kong Economic Journal
  • Vincent Lo expects a deal on the first and third phases of his Shanghai Corporate Avenue project in June. Photo: HKEJ

    Shui On Land shelves Xintiandi spin-off

    - May 28, 2015 12:10pm
    Shui On Land Ltd. (00272.HK) has shelved plans to spin off China Xintiandi Co. Ltd., saying it’s looking for other options. The company had wanted to hive off the commercial property unit which owns an upmarket mixed-use...
  • Galaxy Entertainment Group is keeping its HK$100 billion investment plan for Macau but is hinting at a slower investment pace. Photo: HKEJ

    Galaxy to keep US$12.9 bln Macau spending plan despite headwinds

    - May 28, 2015 10:18am
    Galaxy Entertainment Group Ltd. (00027.HK) is pressing ahead with a HK$100 billion (US$12.9 billion) investment in Macau despite its faltering gaming sector, the Hong Kong Economic Journal reported Thursday. The casino operator said it is committed to helping...
  • The cross-border mutual recognition scheme for funds will boost Hong Kong's competitiveness, Ceajer Chan  says. Photo: HKEJ

    Hong Kong poised to be Asia fund powerhouse, says Chan Ka-keung

    - May 28, 2015 10:02am
    Mutual recognition starting in July for funds registered in Hong Kong and mainland China will lay the groundwork for the city to become a “fund powerhouse”, the secretary for financial services and the treasury said. Ceajer Chan Ka-keung...
  • Galaxy Entertainment hopes its new resorts, which will house many family-friendly facilities, will help the company overcome the downturn in Macau's casino industry. Photo: HKEJ

    Galaxy has big hopes for new Macau casino resorts

    - May 27, 2015 10:45am
    Galaxy Entertainment Group Ltd. (00027.HK) is opening two new large casino resorts in Macau on Wednesday despite a slide in industry revenues over the last 11 months. The casino group hopes the new resorts will help...
  • Francis Liu (center), managing director of UBS wealth management, says Asia will overtake the US in the number of billionaires in 10 years. Photo: HKEJ

    Six in 10 Asian billionaires come from China, says study

    - May 27, 2015 10:21am
    One billionaire is being minted in China each week thanks to rapid wealth expansion, the Hong Kong Economic Journal reported Wednesday, citing a survey. About 300 of 500 Asian billionaires come from mainland China, with Hong Kong contributing 60...
  • Wang Yanan says Tongda Group could be worth HK$30 billion (US$4.84 billion) thanks to a market rally that has driven the share price since the beginning of the year. Photo: HKEJ

    Tongda on course to become No. 2 in sector, says chairman

    - May 26, 2015 11:12am
    Tongda Group Holdings Ltd. (00698.HK) expects to become the second largest mobile parts maker by market capitalization after a recent surge in the stock, according to its chairman. Wang Yanan said the company could be worth...
  • Frederick Ma claims never to have had a losing year in the past three decades. Photo: HKEJ

    Frederick Ma expects a further six-month rally in stock market

    - May 26, 2015 10:22am
    Frederick Ma Si-hang, a former secretary for commerce and economic development, expects the rally in the city’s stock market to continue for at least a further six months, the Hong Kong Economic Journal reported Tuesday. The financial guru, who was...
  • Fan Kwan-ming (right) says this is a good time to buy quality stocks in Hong Kong when the A-share discount is still significant. Photo: HKEJ

    Hong Kong red chips poised for revaluation

    - May 26, 2015 10:10am
    Hong Kong-listed Chinese stocks are poised for revaluation as investors continue to narrow the discount to their A shares, the Hong Kong Economic Journal reported Tuesday. Fan Kwan-ming, managing director of research of GF Securities (Hong Kong) Brokerage Ltd.,...
  • Chairman Yang Hua (left) says he is not aware of any revamp taking place anytime soon, apart from what certain newspapers have been speculating.  Photo: HKEJ

    New CNOOC chairman dismisses restructuring talk

    - May 22, 2015 11:56am
    Nothing is official about a planned restructuring of China’s big three oil companies, according to the new chairman of CNOOC Ltd. (00883.HK). Yang Hua said he is not aware of any such revamp taking place anytime soon,...
  • Dealers are not warming to redeployment plans, fearing loss of security that their specialized jobs can offer. Photo: HKEJ

    Sands China to train croupiers for other jobs

    - May 22, 2015 11:12am
    Sands China Ltd. (01928.HK) is offering a vocational training program for croupiers to help them find other jobs amid Macau’s sputtering gaming sector, the Hong Kong Economic Journal reported Friday. The six-month program will train them for positions in...
  • BOCHK plans to sell its stake in Nanyang Commercial Bank. Photo: HKEJ

    BOCHK poised to sell Nanyang Bank to pursue ASEAN assets

    - May 22, 2015 11:00am
    BOC Hong Kong (Holdings) Ltd. (02388.HK) is planning to divest its equity interest in Nanyang Commercial Bank Ltd. with a view to shifting its focus to Southeast Asia. BOCHK and its parent, Bank of China Ltd. (03988.HK), have been...
  • A fan hugs Jack Ma during an Alibaba event. Ma said he looks forward to being with his wife and children by the time he is 60. Photo: Internet

    Jack Ma hints at retirement in 10 years

    - May 21, 2015 12:14pm
    Jack Ma is hinting at retirement in 10 years, saying it would be nice to be with his wife and children, the Hong Kong Economic Journal reported Thursday. In the meantime, he said he will do...
  • Lew Mon-hung (second from right), is shown with his defense team after he was acquitted of fraud of money laundering. Photo: HKEJ

    Pearl Oriental Oil official cleared of fraud

    - May 21, 2015 12:10pm
    A former senior official of a Hong Kong-listed oil company has been cleared of fraud and money laundering charges, the Hong Kong Economic Journal reported Thursday. Lew Mon-hung, former vice chairman of Pearl Oriental Oil Ltd. (00632.HK),...
  • TVB chief executive Lee Po-on (L), chairman Charles Chan Kwok-keung (center) and deputy chairperson Mona Fong (seated, R) are hoping that a new mainland investor will help the TV station spread its wings. Photo: HKEJ

    TVB aims to leverage Li Ruigang’s contacts for business growth

    - May 21, 2015 11:10am
    Television Broadcasts Ltd. (TVB, 00511.HK) expects mainland media tycoon Li Ruigang to put in more efforts and resources into Hong Kong’s top terrestrial television broadcaster after his recent investment in the station. TVB hopes that Li can...
  • The Hong Kong section of a cross-border high-speed rail link has suffered delays and cost over-runs. Photo: HKEJ

    HK, China to discuss border control issues in high-speed rail

    - May 20, 2015 11:07am
    Senior Hong Kong government officials will be meeting their mainland counterparts Wednesday to discuss the issue of establishing a joint control point for the Hong Kong link of a national high-speed rail project. Justice Secretary Rimsky...
  • The range of salary increases for civil servants is similar to that for workers in the private sector. Photo: HKEJ

    Up to 4.12% pay hike for Hong Kong civil servants

    - May 20, 2015 11:03am
    Hong Kong’s civil servants are expected to have their salaries raised by 3.02-4.12 percent this year, the Hong Kong Economic Journal reported Wednesday. The range was unveiled after a study for the Pay Trend Survey Committee was done...
  • A Cathay flight attendant dramatizes the union's demands for better treatment from the airline. Photo: Reuters

    Cathay Pacific flight attendants plan August strike

    - May 20, 2015 11:01am
    Cathay Pacific flight attendants are stepping up their industrial action to protest cuts in salaries and benefits for cabin staff, the Hong Kong Economic Journal reported Wednesday. They are planning a strike for the end of...
  • Kung Yan-sum says the ruling by the Court of Final Appeal will not affect the foundation's charitable work. Photo: HKEJ

    Family foundation can’t touch Nina Wang fortune, says top court

    - May 19, 2015 11:22am
    Hong Kong’s highest court has ruled that a charitable foundation established by the late billionaire Nina Wang is not the beneficiary of her HK$83 billion (US$10.71 billion) fortune. A five-judge panel on the Court of Final...
  • Liu Qun says there's only a 60 percent chance that the renminbi will become an SDR currency this year amid continued opposition from the US. Photo: HKEJ

    Renminbi seen fully convertible in three years

    - May 19, 2015 11:17am
    China expects the renminbi to be fully convertible by 2018, with interest rates fully liberalized this year, the Hong Kong Economic Journal reported Tuesday. Beijing is ramping up reform of its capital account in the run-up to...
  • A new commercial complex at Hong Kong airport will house hotels and a huge shopping mall, says Airport Authority chairman Vincent Lo. Photo: HKEJ

    Airport Authority plans city’s biggest mall in new building

    - May 19, 2015 10:40am
    Hong Kong’s Airport Authority (AA) will launch a tender later this year for construction of a massive commercial complex in the northern part of the airport. The planned commercial complex will house a shopping mall that will...

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