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Hong Kong broadcaster TVB warns it will lose HK$200 million for 2018 financial year

The parent company of Hong Kong’s oldest television station issued a profit warning on Friday, saying it expects a HK$200 million (US$25.48 million) net loss for the financial year ending December 31, 2018.Television Broadcasts (TVB) said in a filing to the Hong Kong Stock Exchange after the close of trading it will write-off approximately HK$500 million on its holdings of SMI Bonds, issued by mainland theatre operator SMI Holdings Group.The expected HK$200 million loss compares to a HK$243… Source link

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Singapore 

TCM practitioner suspended after treatments caused patient to lose part of leg, Singapore News

SINGAPORE – A traditional Chinese medicine (TCM) practitioner has been suspended for three years and fined $5,000 after his treatments caused a diabetic patient to subsequently lose part of his left leg to amputation. Mr Lee Miing Chong treated the 59-year-old patient on two occasions in 2015 for poor sensation in both feet, the TCM Practitioners Board said in a statement on Wednesday (March 13). On Jan 3 that year, Mr Lee used heat lamp therapy on the soles of the patient. However, after the treatment, blisters developed and burst…

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Global 

Donald Trump should know to give up on his trade or currency wars because they are easy to lose and impossible to win

Donald Trump in effect declared defeat as he walked away from his Hanoi summit with Kim Jong-Un last month, and he might well be advised to do the same in trade negotiations with China before he stumbles even deeper into trouble.Team Trump has opened up a Pandora’s Box and is ill-equipped to deal with what’s inside.Japan could be next on Trump’s hit list for a trade deal and Tokyo fears there could be a currency element in the deal, as there may be yet with China. If so, this would…

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Will China’s beauty sector lose it glow as growth slows to 30-year low?

When US beauty and personal care retailer and manufacturer Estée Lauder crossed US$1 billion in sales and French personal care company L’Oréal reported a 25 per cent growth in sales in Asia-Pacific in the quarter ending in December, their efforts in the region – especially mainland China – appeared to have paid off.Some analysts, however, said, with China’s economy slowing down further, growth in the sector could taper off too. “Overall, China’s beauty and personal care market has showed slower… Source link

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China 

China’s electronics sector has the most to lose if US-China trade war tariffs increase to 25 per cent

March 2 is a date that is marked clearly in the calendars of every Chinese company that sells to the United States: tariff day.On that day, should negotiators not reach a deal that would end the US-China trade war, tariffs on exports to the US will rise from 10 per cent to 25 per cent, but some will be watching more closely than others.Whereas other sectors – such as textiles, apparel, cars – have had to deal with some import tariffs as a condition of selling into the US in…

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Will China lose its tech mojo as venture capital for start-ups gets harder to come by?

Investors are pouring capital into China’s more mature, later-stage tech companies, polarising the tech scene into established “decacorns” – private companies with valuations of US$10 billion or more – versus capital-hungry, start-ups. Unlisted technology giants are attracting bigger and bigger private fundraising rounds, leaving less on the table for start-ups who need to raise their first two critical rounds of financing to get off the ground and scale up. A polarised market in which early-stage financing is sidelined could frustrate entrepreneurship and stifle innovation. After all, it is that kind…

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As the West pushes back against Huawei, telecoms operators may lose out in cost, quality

As the United States pressures its allies to block Huawei Technologies from supplying equipment for next-generation 5G mobile networks on security concerns, what may be holding back these countries is the impact of that move on the cost and quality of their telecommunications infrastructure. The concerns underscore the market lead that Huawei, which founder Ren Zhengfei started in 1987 as a company selling telephone switches, has built for itself as the world’s largest telecoms equipment supplier. Credit to the Shenzhen-based firm’s success can be attributed to the confluence of good…

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China 

China has a lot more to lose than the US in trade war, says Credit Suisse

The possibility that the United States and China are closer to resolving their trade dispute has stoked optimism among investors. But insufficient attention may be being paid to what happens if no deal is struck, according to John Woods, Credit Suisse’s chief investment officer for Asia-Pacific. No deal would be “profoundly negative”. It would be the reverse of China joining the World Trade Organisation in 2001, which lowered or froze barriers the country faced to export its goods and paved the way for a near tripling of its share of…

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Property 

China developer’s net profit at Hong Kong’s old Kai Tak airport to lose altitude amid turbulence in property market

China Overseas Land & Investment is likely to see about a 15 per cent profit margin on its latest HK$8.03 billion parcel acquisition at the city’s old airport site, far less than the windfall it made five years ago on its first purchases there, analysts say. China Overseas was the first developer to buy land at Kai Tak, site of the city’s old airport known for nail-biting manoeuvring by pilots to avoid mountains and buildings. That was in 2013, when the developer paid far less per square foot for two…

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Hong Kong’s record-breaking parking space market set to lose steam, say analysts

Hong Kong’s famously lucrative market for car parking spaces may be about to stall, according to analysts and investors. Prices of parking bays, which peaked this year at an average HK$2.25 million (US$290,000), are likely to drop in the short term as demand wavers amid a souring property market, rising interest rates and the US-China trade war. As the economy starts to stutter some Hongkongers will sell their cars to save money, further denting demand, said Lai Wing-to, a veteran property investor with HK$15 billion of assets. “The economy will…

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