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Henderson posts second straight drop in interim revenue, as one of Hong Kong’s largest developers falls victim to real estate slump

Henderson Land Development reported its second consecutive double-digit percentage decline in interim revenue, as one of Hong Kong’s largest developers fell victim to the city’s slowing property market.Turnover fell 38 per cent to HK$8.12 billion in the six months ended June, while first-half underlying profit, excluding revaluation gains on investment properties, dropped to HK$6.7 billion. Revenue from real estate sales plunged 68 per cent to HK$2.7 billion during the period, said Henderson,… Source link

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Sellers of Singapore’s largest residential site above a lush park are wooing mainland China, Hong Kong developers

A choice piece of property in Singapore – the city-state’s largest residential site on a hilltop overlooking a lush park – is back on the market. Hong Kong or mainland developers could be its next owners, analysts say.The spot is called Braddell View, and it sits on 1.14 million square feet above MacRitchie Reservoir Park. Its starting price is S$2.08 billion (US$1.5 billion), but the hope is for competing bids to drive that up.The central city site was unsuccessfully put up for sale in March… Source link

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China Resources Beer explores possibility of minority stake in the Asian unit of world’s largest brewer

China Resources Beer, maker of the world’s bestselling beer Snow, said on Friday it is exploring the possibility of acquiring a minority stake in Budweiser APAC, the Asian unit of Belgian-based Anheuser-Busch InBev.“We’re paying close attention to this issue and evaluating its business, but we have yet to decide whether we are interested and if [the acquisition] will fit into the expansion plans for China Resources Beer,” executive director and chief executive Hou Xiaohai said in response to a… Source link

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The world’s largest pork producer WH Group, between the US and China, finds diversity its best solution out of the trade war

China’s WH Group, the world’s largest pork producer and owner of Smithfield Foods of Virginia, is adopting a two-prong strategy to survive the escalating trade war between the world’s two largest economies.The company will import more meat from Europe and South America to satisfy China’s demand in the largest pork-consuming nation while domestic hog herds had been culled by an outbreak of the African swine fever. It will also broaden Smithfield’s export markets to get around China’s tit-for-tat… Source link

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China 

China claims progress on creating world’s largest trade bloc, but ‘very difficult’ issues remain

A meeting of trade ministers attempting to create the world’s largest trading bloc without the United States wrapped up in Beijing on Saturday, with China claiming further progress, though there were “very difficult” negotiations ahead.Trade delegates to the two-day meeting gave differing opinions on whether negotiators could achieve their stated goal of finishing the Regional Comprehensive Economic Partnership (RCEP) by the end of the year.“The meeting has made important progress in the… Source link

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Vietnam 

Hong Kong the largest source of foreign investment in Việt Nam in first 7 months of 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A corner of Hà Nội. The capital city take the lead in term of FDI attraction in the first seven months of 2019. — Photo tripsavvy.com HÀ NỘI — Hong Kong retained its crown as Việt Nam’s leading source of foreign direct investment (FDI) in the first seven months of this year, pouring US$5.44 billion in the Southeast Asia country, the Ministry of Planning and Investment’s Foreign Investment Agency said in its latest report. South Korea ranked second with more than $3.13 billion. Mainland China came third with $2.45 billion while Singapore…

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China 

China pushing for world’s largest regional trade deal without US, hailing ‘momentum’ with Asian partners

The Regional Comprehensive Economic Partnership involves the 10 Asean nations of Indonesia, Thailand, Malaysia, Singapore, Philippines, Vietnam, Myanmar, Cambodia, Brunei and Laos, as well as China, Japan, South Korea, Australia, New Zealand and India. Photo: EPA Source link

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Chinese carmakers step up their role as automotive industry investors, adding to China’s sway as world’s largest vehicle market

China has long been a key market for global automotive manufacturers. Now the country is asserting its role as an investor in the industry, stepping up the pace of purchases in the car and heavy-truck sector.The latest foray: state-backed Beijing Automotive Group is buying a 5 per cent stake in Daimler, the maker of Mercedes-Benz.The announcement caps an increasingly active period for deals – of the major transactions where a Chinese company bought a stake in a non-Chinese automotive firm since… Source link

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Parent firm of China Southern, country’s largest airline, receives US$4 billion cash injection for overseas expansion

The holding company behind China Southern Airlines, mainland China’s largest carrier, will receive a cash injection of 30 billion yuan (US$4.36 billion) from three fund-management firms, the company said in a filing to the Hong Kong stock exchange. The money is intended to boost its war chest for overseas expansion.In its filing, the airline said its parent, China Southern Air Holding (CSAH), had entered into a capital increase agreement with three investors “to implement the relevant… Source link

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Tencent-backed DouYu’s US$775 million IPO is the largest by a Chinese company in the US this year

Live-streaming platform DouYu International Holdings has raised US$775 million, making it the largest Chinese IPO in the US this year after the company priced its deal at the low end of the indicative range.DouYu, which is backed by Chinese gaming giant Tencent Holdings, sold 67.4 million American depositary shares (ADS) at US$11.5 each, giving it a valuation of US$3.73 billion.The company had set a pricing target of US$11.5 to US$14 for the ADS. Every 10 ADS represent one share.Despite a… Source link

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