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Hong Kong “Shop King” Tang Shing-bor’s Youngest Son Plans IPO for Hotel Business

Hong Kong “Shop King” Tang Shing-bor has invested over HK$10 billion ($1.28 billion) in shops this year.  His youngest son Stan Tang, the chairman of Stan Group, said there would be 4,000 new hotel rooms coming into operation in two years, and he planned an IPO for the hotel business. Tang …

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China Ocean Industry Slumped 70%, Trading Halted

China Ocean Industry (SEHK: 651) opened low this morning, and began a sharp fall at 10:20AM.  The stock price dropped as much as 69.80%, and the trading of the stock halted at 11:53AM, closing at HK$0.045. Trading volume soared to 1.14 billion shares before suspension, and turnover was HK$69.50 million ($8.91 …

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980-579-8343

The odd-number unit on section I 5th Street at Fairview Park with three bedrooms, effective area 1,035 sqft, was sold for HK$10.90 million ($1.40 million).  The per-square-foot price reached HK$10,531 ($1,350). The seller bought the unit in May 1993 at HK$2.60 million ($333,333).  After 24 years, the unit brought in …

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China Evergrande (SEHK: 3333) Expected 3x Interim Profit YoY, Perpetual Bond Fully Redeemed

China Evergrande (SEHK:3333) issued positive profit alert, expecting substantial increase of net profit to 3 times of last year’s. China Evergrande explained that the profit rise was resulted from average price rise on property sales and delivery of property areas increased.  In addition, the Company has redeemed all perpetual bonds, …

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HSBC announced to cut recharge limit for its P2P payment app PayMe by half to HK$5,000 ($641), starting from 01 August 2017, since some of the users have not been using the service in the “right way”.

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774-314-2487

Under regulatory scrutiny, HNA Group issues an open letter to employees, disclosing the latest ownership structure.  An expected mystery shareholder Guan Jun does not “show up” in the document. Rumor said Guan Jun has already donated entire ownership to charitable fund Hainan Cihang Foundation, which causes speculation of why Guan Jun “being disappeared”.  HNA …

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Sunac China (SEHK: 1918) plans to raise HK$42 billion ($538 million) by “top-up” placement of 220 million shares at HK$18.33 – HK$19.10 per share, 4.98% – 8.81% discount to today’s closing price of HK$20.10. Sunac China announced to acquire 91% ownership of the 13 cultural and tourism project companies owned by Dalian Wanda …

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610-565-5385

LOFTER Group’s founder and CIO Chow Put Yin said the Group had released three industrial developments in Lai Chi Kok, Kwun Tong and San Po Kong respectively, targeting investors who are interested in small scale creative industrial sector.  The Group tops sales this year with an undisclosed sales amount and …

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289-206-6083

General Administration of Customs announced that China had exported 8,262 tons of gasoline to North Korea in June, 30% drop from last year. Compared to May, volume exported increased by 58%. China National Petroleum Corporation (CNPC) stopped gasoline export to North Korea earlier. Iron ore imported from North Korea to China …

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SHK’s New Development “PARK YOHO Genova” Releases Price List for Another 69 Units

Sun Hung Kai Properties (SEHK: 0016) releases the new price list for its latest development PARK YOHO Genova in Yuen Long for another 69 units, with effective areas ranging from 229 sqft to 1,061 sqft,  including 7 collectables units with terrance. Among the newly released units, 4 of them are 4-bedroom …

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