China 

China’s rail operator apologises for holiday travel chaos but says it will seek to punish unruly passengers

The company that runs China’s railways apologised on Saturday for the chaotic scenes on trains and at stations during this year’s extended Labour Day holiday, but said it would also consider how passengers who contributed to the disruption should be punished.An estimated 70 million people took rail trips between Tuesday and Saturday, with the peak coming on Wednesday, when a new May 1 record of 17 million passengers boarded trains across the country.The huge crowds, however, created big… Source link

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China 

Singapore’s sovereign wealth fund GIC and Chinese mall operator Grandjoy to kick off China’s first listed real estate trust

Singaporean sovereign wealth fund GIC and its long-term Chinese ally, the mall operator Grandjoy Holdings Group, have been selected for a pilot programme that will allow individual Chinese investors to buy shares in rent-yielding properties for the first time.Grandjoy, the property arm of state-owned conglomerate Cofco, was picked by the securities regulator as one of several firms to try China’s first publicly listed real estate investment trust (Reit), its chief financial officer, Xu Hanping,… Source link

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Hong Kong developer Chinachem sues co-working operator Kr Space for failing to execute One Hennessy lease

Chinachem Group, the chemical producer-turned-property developer, has slapped a law suit on one of China’s biggest co-working space operators for reneging on a contract, according to a writ filed with the Hong Kong High Court.The Hong Kong developer has sued Kr Space, a spin-off of technology platform 36kr.com, claiming HK$500.9 million (US$63.8 million) in damages for breaching a contract to take up seven floors at Chinachem’s One Hennessy building in Wan Chai, according to the writ.Chinachem… Source link

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Not ‘typical foreigners’, says Raffles chairman as Singapore hospital operator bets big on China market

Patience is key to international companies cracking China’s health care market, the world’s second-largest, Dr. Loo Choon Yong, chairman of Singapore-based Raffles Medical Group, said on Saturday.Singapore’s largest private medical services operator, Raffles is betting on mainland China to drive growth amid muted prospects at home. It opened an 800 million yuan (US$119.09 million) fully owned and run hospital in the southwestern city of Chongqing in January, and expects to open a second one in… Source link

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Singapore 

Wet market operator apologises for flyers carrying Hindi instead of Tamil translation, Singapore News

A wet market operator whose flyers drew flak for having a Hindi translation instead of a Tamil one has expressed remorse over his mistake and intends to print apology letters, which will be displayed publicly. The flyers were meant to inform the public about the relocation of the wet market at Admiralty Place mall to a new area next to Woodlands East Neighbourhood Police Centre. The announcement on the flyers was printed in English and translated into three other languages: Chinese, Malay, and what was meant to be Tamil but…

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Embattled pay TV operator i-Cable makes another attempt to turn around a decade of losses with Guangdong network tie-up

I-Cable Communications, Hong Kong’s biggest pay TV operator, on Tuesday formalised a partnership with Guangdong Radio and Television (GRT) that will allow it to air programmes to the Chinese TV group’s customers.But analysts are circumspect about the benefits of the tie-up on i-Cable’s bottom line, saying it is unlikely to yield any long-term “material” benefit.Irene Leung Shuk-yee, chief operating officer of i-Cable, said that the deal with GRT also involves joint production of TV shows,… Source link

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Vietnam 

NA leader lauds model port operator on 30th anniversary – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY      National Assembly Chairwoman Nguyễn Thị Kim Ngân lauded efforts and achievements by the Sai Gon Newport Corporation (SNP) over the past three decades when attending its 30th traditional day yesterday. A defence-security enterprise of the Vietnam People’s Navy, the corporation contributed to implementing the Vietnam Maritime Strategy, fulfilled its role of serving as a logistics base and military port, and built military facilities in border and island areas. Notably, in March 2018, it put into operation the Cam Ranh International Port – the largest logistics…

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Head of Chinese school operator Yuhua demands reversal of ban on M&A deals that has crippled stock prices and ‘threatens growth’

The chairman of one of China’s largest private school operators has slammed a controversial new law that is likely to crimp the expansion of schools, and has already battered their stock prices, during his speech to legislators at the country’s main political event of the year.Li Guangyu, chairman and founder of Yuhua Education – which runs 29 schools from kindergartens to colleges across China – called for the removal of a clause in a draft law that would ban private schools from expanding by… Source link

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Bourse operator Hong Kong Exchanges and Clearing reports record net profit of HK$9.3 billion, beats estimated

Hong Kong Exchanges and Clearing, which operates the Hong Kong stock exchange, the third-largest bourse in Asia, on Wednesday reported a record net profit of HK$9.3 billion (US$1.18 billion) for last year, an increase of 26 per cent over 2017.A listing reform introduced in April 2018 brought in a higher number of mega flotations and bigger turnover.The profit for last year beat the HK$7.96 billion earned in 2015. It was announced a day ahead of the release of a three-year strategic plan by HKEX… Source link

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Shanghai to Beijing high speed rail operator may be readying for an IPO this year, documents show

The operator of the high-speed railway linking Shanghai and Beijing has taken its first step towards a mainland initial public offering after receiving pre-listing tutorial services from a brokerage.According to a document ­published by the Beijing branch of the China Securities Regulatory Commission (CSRC) on Tuesday, Beijing-Shanghai High-Speed Railway is being advised by CSC Financial on a listing application, which is expected to be completed this year.On the mainland, a potential listing… Source link

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