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Topic: CITIC Pacific Ltd


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In the News (Thu 23 May 19)

  
  CNN.com - Citic sets up steel unit in China - Dec. 19, 2002
Citic said in a statement that steel making is a significant investment in its industrial portfolio, and part of its long-term goal of creating a diversified mix of businesses based on infrastructure and industrial manufacturing.
Citic said earlier this week that its Mainstream Holdings Ltd. subsidiary is selling a 30 percent stake in meat producer Shanghai DCH Shuanghui IBP Co., though it will keep 40 percent of the company.
Citic Pacific is the Hong Kong-based publicly traded arm of state-owned China International Trust & Investment Corp. Citic Pacific specializes in infrastructure projects, property development and distribution, in both Hong Kong and mainland China.
archives.cnn.com /2002/BUSINESS/asia/12/19/hk.citic/index.html   (461 words)

  
 CITIC 1616 Uses Performance Technologies' SEGway Devices to Expand Carrier Services in Asia   (Site not responding. Last check: 2007-09-10)
CITIC Telecom 1616 Ltd. (CITIC 1616) is one of the major telecommunication hubs in Asia and also is one of the largest IDD minute wholesalers in the Asia Pacific Region.
CITIC 1616 is based in Hong Kong and is 100% owned by CITIC Pacific Ltd. (www.citicpacific.com).
CITIC 1616's long-term goal is to establish itself as a multi-media commercial exchange center in Asia, where voice, IP, data and content can be exchanged in an effective manner.
www.pt.com /press/release04_CITIC_08_16_04.html   (628 words)

  
 10/26/98 THE PERILS OF RED CAPITALISM
CITIC and GITIC are but two of hundreds of firms, known as trust and investment corporations, set up with the blessings of the late Deng Xiaoping in the 1980s to help central and provincial governments raise foreign funds and invest in strategic projects.
CITIC Pacific also is stuck paying high debt-service costs for its $2.1 billion purchase of a 20% stake last year in China Light, Hong Kong's electric utility.
Even though CITIC Pacific is listed in Hong Kong, numerous questions remain about Yung's share purchase and his bailout, even though the deals had a huge impact on the company's operations and share price.
www.businessweek.com /1998/43/b3601021.htm   (2239 words)

  
 CITIC Pacific may cut back stakes in CX&KA
CITIC Pacific recently said it plans to focus on three core areas of business - property, steel and power in China - and will gradually divest non-core assets.
Major shareholders of Cathay and Dragonair are negotiating a "realignment" of their interests in the carriers after conglomerate CITIC Pacific Ltd. (0267.HK) - which owns 28.5% of Dragonair and 26.7% of Cathay - said it plans to cut those stakes.
Conglomerate Swire Pacific Ltd. (0019.HK) is another major stakeholder in both airlines, holding 46.8% of Cathay, and 7.7% of Dragonair.
www.flyertalk.com /forum/showthread.php?t=542611   (717 words)

  
 NWAnews.com :: Northwest Arkansas' News Source
CITIC Pacific and Wal-Mart will invest billions of yuan (China’s currency) to open stores in Shanghai and the eastern provinces of Zhejiang and Jiangsu, CITIC Pacific Managing Director Henry Fan reported to Bloomberg News.
CITIC Pacific told Bloomberg that it will buy its parent’s 35 percent stake in that joint venture within six months.
CITIC Pacific Ltd., China’s largest diversified company trading on the Hong Kong Stock Exchange, also owns Sims Trading Co. Limited, a leading distributor of major food, beverage and medical products, as well as holdings in real estate, airlines and power plants.
www.nwanews.com /story.php?paper=adg§ion=Business&storyid=105489   (440 words)

  
 Bloomberg.com: Asia
Citic also has a 28.5 percent stake in Hong Kong Dragon Airlines Ltd., the city's second-biggest carrier, and 25 percent of Air China Cargo.
Citic is scheduled to announce its earnings during the 12:30 p.m.
Citic was the darling of the stock market in 1997 as investors bet the company, then one of the few Chinese companies listed in Hong Kong, would benefit from its close ties with Beijing.
www.bloomberg.com /apps/news?pid=10000080&sid=agbHKmz_9VzM&refer=asia   (835 words)

  
 BREITBART.COM - Cathay Pacific to Buy Out Dragon Airlines
Cathay Pacific Airways Ltd. said Friday it will acquire full ownership of Hong Kong Dragon Airlines Ltd. and double its stake in Air China in a deal aimed at giving Cathay a huge competitive boost in the world's fastest growing aviation market.
Cathay Pacific said in a published notice it would pay Dragon Airlines shareholders HK$820 million ($105.6 million) in cash, with the rest of the acquisition funded by new Cathay shares.
Trading in the Hong Kong-listed shares of the companies involved in the talks _ Cathay, Air China, Swire, CNAC and CITIC Pacific _ have been suspended since Monday after a Hong Kong newspaper, the Standard, reported the buyout was imminent.
www.breitbart.com /?id=2006-06-09_D8I4FRK00&show_article=1&cat=breaking   (510 words)

  
 Bloomberg.com: Top Worldwide   (Site not responding. Last check: 2007-09-10)
Citic has sold assets in Hong Kong, where it owns 25.74 percent of the city's biggest airline Cathay Pacific Airways Ltd, to expand its investments in the mainland.
Citic makes special steel, such as fasteners, ball bearings and metal gears, at plants in the nation's eastern province of Jiangsu and central province of Hubei.
Citic's aviation business, which accounted for about two- fifths of the company's profit in 2004, had a 25 percent drop in profit.
www.bloomberg.com /apps/news?pid=10000087&sid=ayEjCvaBJEbk&refer=top_world_news   (667 words)

  
 [No title]   (Site not responding. Last check: 2007-09-10)
CITIC Pacific is primarily a holding company based in Hong Kong.
CITIC Pacific: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
A textual analysis of Citic Pacific Ltd's financial statements, including company description and recent stock performance, versus Yellow Hat Ltd., UMW Holdings Berhad and Edaran Otomobil Nasional Berhad.
shoppingcart.reuters.com /stocks/overview.aspx?symbol=0267.HK   (528 words)

  
 China Reform Monitor No. 184, March 30, 1999
Although Citic Pacific is registered in Hong Kong, it is regarded as a foreign company by Beijing.
However, it is the flagship of China International Trust and Investment Co. [CITIC], which reports to China's ruling State Council, and is regarded as one of the best-connected investors in China.
Citic owns roads, bridges and power plants in China, and in Hong Kong the company operates tunnels under the harbor, as well as stakes in Cathay Pacific Airways and China Light and Power, the city's largest power company.
www.afpc.org /crm/crm184.htm   (481 words)

  
 Capital-Rich Chinese Firms Look Abroad for Acquisitions
More than a decade ago, Citic Pacific's Beijing-based parent pursued a natural resources strategy that included trying to buy up forests in Washington state and mines in Australia, while Shougang Iron and Steel bought an iron mine in South America.
When Citic Pacific first began to look at PSINet in the spring, the collision between a U.S. fighter jet and a Chinese plane had just occurred.
Citic Pacific claims it has all the management it needs to turn around PSINet, according to people familiar with the company's thinking.
www.freerepublic.com /focus/news/592160/posts   (1113 words)

  
 Cathay Pacific to Acquire Dragon Air, Key China Routes | Asian American Daily | GoldSea
Cathay Pacific has long had limited access to mainland China, while Dragonair flies to 31 destinations to the mainland _ including prime time slots to Shanghai and Beijing.
Swire Pacific is Cathay's biggest shareholder and has a minority interest in Dragonair.
Air China is the majority shareholder of CNAC, and CITIC Pacific has interests in both Cathay and Dragonair.
goldsea.com /Asiagate/606/08cathay.html   (374 words)

  
 CITIC Pacific Ltd. information and related industry information from Hoover's   (Site not responding. Last check: 2007-09-10)
CITIC Pacific is a red chip off the old Communist bloc.
A subsidiary of China's state-owned China International Trust and Investment (CITIC), CITIC Pacific invests in infrastructure (aviation, civil engineering projects, power generation, telecommunications), property (including Hong Kong's Festival Walk and Discovery Bay), and trading and distribution firms.
CITIC was formed in the 1980s when the government began condoning capitalistic investments.
www.hoovers.com /citic-pacific/--ID__53082--/free-co-factsheet.xhtml   (459 words)

  
 Australian Mining, Mining News, Jobs and Employment, Engineering Supplies, Minerals, Perth Australia Mining Equipment, ...
The deal with CITIC Pacific covers the adjoining central block of the massive Balmoral magnetite deposit to that covered by SBNC’s proposed rights on the southern block, and will involve substantial port and related infrastructure facilities being developed at Cape Preston.
CITIC Pacific is a major diversified business incorporated in Hong Kong and listed on the Hong Kong Stock Exchange.
Under the terms of its announced agreement with Mineralogy, wholly owned subsidiaries of CITIC Pacific have agreed to acquire from Mineralogy rights to mine up to 6 billion tonnes of magnetite iron ore from the Balmoral deposit.
www.minebox.com /story.asp?articleId=7434   (368 words)

  
 Rong Yiren, former VP of China aided change - The Boston Globe
He was persecuted during the ultraleftist 1966-76 Cultural Revolution but rehabilitated in 1978 when then-supreme leader Deng invited him to help launch the overhaul.
Rong as China's richest businessman, with a family fortune estimated at $1.9 billion in CITIC shares.
His son, Larry Yung, also known as Rong Zhijian, is chairman of CITIC's Hong Kong arm, Citic Pacific Ltd., with a fortune estimated at $1 billion.
www.boston.com /news/globe/obituaries/articles/2005/10/29/rong_yiren_former_vp_of_china_aided_change   (295 words)

  
 Wahana Tata Insurance - The Trusted General Insurance
Cathay will issue new stock to Swire Pacific Ltd., its biggest shareholder, for its 7.7 percent stake in Dragonair.
Citic Pacific Ltd. will sell its entire 28.5 percent stake in Dragonair to Cathay, making a gain of HK$2 billion, the statement said.
Trading in shares of Cathay, Air China, China National Aviation, Swire Pacific and Citic Pacific was suspended on June 5 after the Standard newspaper reported Cathay would buy Dragonair.
www.aswata.co.id /index.php?op=article_view&id_news=486   (895 words)

  
 10/26/98 WANG: CITIC ISN'T ON THE ROPES (int'l edition)
He faces increased scrutiny now that his company's key unit, Hong Kong's CITIC Pacific Ltd., is in a financial squeeze.
In those two sectors, CITIC Pacific will be passing on no profit to headquarters.
For example, this year, CITIC Pacific's interest payments won't be any larger than they were last year--that's very unusual among Hong Kong companies.
www.businessweek.com /@@f2xsBGYQiWDehgUA/1998/43/b3601025.htm   (688 words)

  
 Cathay Pacific Shuffles Its Top Management - New York Times
Cathay Pacific Airways Ltd., Hong Kong's flag carrier, made changes in its top management yesterday, naming an executive of Dragonair, Philip Chen, as its new deputy managing director.
Cathay Pacific, 48 percent owned by the British-controlled Swire Pacific Ltd., announced the changes two months after naming a new chief executive, David Turnbull.
Analysts said the latest change suggested the airline, 25 percent owned by mainland-connected Citic Pacific Ltd., might groom Mr.
query.nytimes.com /gst/fullpage.html?res=9F0DE1DB1F3BF937A25752C1A960958260   (131 words)

  
 Identity crisis
Since he took the reins as Cathay Pacific's chief representative in Beijing in August, Lionel Kwok's favourite expression whenever he meets the media is that "we are part of China."
Cathay is 45.85 per cent owned by property-focused British conglomerate Swire Pacific Ltd. CITIC Pacific Ltd, which has roots on the Chinese mainland, controls 25.7 per cent and is the airline's second largest shareholder.
Topics such as "Move farther with Cathay Pacific" are expected to be the main thematic thrust behind Cathay's brand promotions in the next two to three years.
www.chinadaily.com.cn /english/doc/2006-01/16/content_512528.htm   (1055 words)

  
 Hong Kong-listed CITIC Pacific says to issue price-sensitve announcement today - Forbes.com   (Site not responding. Last check: 2007-09-10)
A spokeswoman for CITIC Pacific declined to say if the announcement relates to a media report about an offer supposedly made by Cathay Pacific Airways Ltd to buy the equity stakes of CITIC Pacific and other parties in Dragon Airlines Ltd (Dragonair) in a transaction worth about 10 bln hkd.
The Standard newspaper reported that Cathay Pacific is in an advanced stage of talks to buy out the stakes in Dragonair held by China National Aviation Company Ltd (CNAC), CITIC Pacific and Swire Pacific through a combination of cash and shares.
Dragonair is owned 43.29 pct by CNAC, 28.5 pct by CITIC Pacific, 17.79 pct by Cathay Pacific Airways Ltd, 7.71 pct by Cathay Pacific parent Swire Pacific Ltd and 2.71 pct by unnamed parties.
www.forbes.com /home/feeds/afx/2006/06/05/afx2792369.html   (467 words)

  
 No. 99-F 15   (Site not responding. Last check: 2007-09-10)
Another claim of Calpers that doesn't square with China observers is that "Citic Pacific is not a subsidiary of Citic" and is a respected investment house in Hong Kong "independent of the Beijing government."
Citic is chaired by Wang Jun, chairman of Poly Group, a company affiliated with the Chinese military.
The "Red Chips" book calls Citic Pacific "Citic's publicly listed arm" and notes that Citic and its wholly owned subsidiary Citic Hong Kong have a "controlling interest" in Citic Pacific.
www.security-policy.org /papers/1999/99-F15.html   (1495 words)

  
 Jean Chretien opens Canadian medical company in China on Sympatico / MSN Powered by MediResource
He is visiting China at the invitation of CITIC Group, the Chinese government's main investment arm and parent company of Hong Kong-listed financial conglomerate CITIC Pacific Ltd.
Chretien's son-in-law, Andre Desmarais, is a non-executive director of CITIC Pacific and member of the Canada-China Business Council.
It lists CITIC Pacific, headquartered in Hong Kong and headed by Larry Yung, son of former Chinese vice-president Rong Yiren, as a strategic partner.
mediresource.sympatico.ca /channel_health_news_detail.asp?channel_id=60&menu_item_id=4&news_id=5230   (513 words)

  
 Swiss Biotech Association - Home
In its core market of small and medium volume clinical laboratories, Adaltis is a leader in the immunoassay field, with a large and reliable product line to detect viral infections, diagnose immune system diseases, and to measure human hormone responses.
CITIC Pacific is listed on the Hong Kong Stock Exchange and a constituent of the Hang Seng Index.
Its business activities are concentrated in Hong Kong and the fast growing China market with clearly focused business interests in the infrastructure business as well as power generation, environmental projects, aviation and telecommunications.
www.swissbiotechassociation.ch /news.cfm?storyID=a0802003.0na   (233 words)

  
 HK-listed CITIC Pacific to buy iron ore resources in Australia for 415 mln usd - Forbes.com   (Site not responding. Last check: 2007-09-10)
HONG KONG (AFX) - CITIC Pacific Ltd said it has agreed to acquire the entire stakes of Sino Iron Pty Ltd and Balmoral Iron Pty Ltd from Mineralogy Pty Ltd in Australia for 215 mln usd and 200 mln usd respectively.
Sino Iron and Balmoral Iron are the wholly-owned subsidiaries of Mineralogy and each holds the mining right for extracting 1 bln tons of magnetite ore resources over a mining area in the western Pilbara region of Western Australia, the company said in a statement.
CITIC Pacific said Sino Iron is expected to support 25 years of production with estimated annual production capacity of 12 mln tons of products including concentrate, pellets and hot briquetted iron.
www.forbes.com /business/feeds/afx/2006/04/02/afx2640540.html   (462 words)

  
 CBS News | Larry Yung Tops New Forbes 'Rich List'
Though Citic Pacific is based in Hong Kong, Yung, also known by the name Rong Zhijian, is the scion of a Shanghai textile and flour mill family.
Yung was followed on the Forbes list by Zhu Mengyi and his family, who made their estimated $1.43 billion fortune in real estate.
Their property empire, Hopson Development Co. Holdings Ltd., is one of China's biggest developers.
www.cbsnews.com /stories/2005/11/04/ap/business/mainD8DLFANG0.shtml   (456 words)

  
 Adaltis - Advanced Laboratory Diagnostic Systems
Adaltis Inc., a Montreal-based international diagnostic company, is pleased to announce today that CITIC Pacific Limited, an important Chinese industrial conglomerate, made a $10.8m equity investment in Adaltis Inc.
Pierre Larochelle, President and Chief Executive Officer of Adaltis Inc. said “We are very pleased with this strategic investment by CITIC Pacific Limited, with whom we established in December 2002 a joint venture for the manufacturing and
The proceeds of this investment will be used primarily to support the commercial launch of our new diagnostic instrument, Eclectica, the first compact random access system for immunoassay and clinical chemistry” said Mr.
www.adaltis.com /content/news.aspx?newsid=17   (644 words)

  
 [No title]
HONG KONG (MarketWatch) -- An executive close to negotiations over Cathay Pacific's bid to buy out rival carrier Dragonair said Wednesday that a statement about the deal would be released Wednesday or Thursday, according to reports.
CITIC Pacific Managing Director Henry Fan said an announcement would be made on shareholding restructuring necessary to effect the takeover.
The deal would involve five Hong Kong-listed companies: Cathay Pacific, Air China Ltd., Swire Pacific Ltd., China National Aviation Co. and CITIC Pacific Ltd. Their shares have been suspended since Monday, when Hong Kong media reported a deal was imminent.
www.marketwatch.com /News/Story/Story.aspx?guid={445358E2-E0A3-4EC7-AF3B-D6EB38CBC5EE}&dist=feed&siteid=netscape   (276 words)

  
 Cathay Pacific to Buy Out Dragon Airlines
Cathay Pacific Airways Ltd. said Friday it will acquire the rest of Hong Kong Dragon Airlines Ltd. and double its stake in Air China to 20 percent in deals aimed at giving Cathay a huge competitive boost in China — the world's fastest growing aviation market.
Christopher Pratt, chairman of Swire Pacific Ltd., the parent of Cathay — Hong Kong's biggest airline, said the agreement marks "the world's most significant aviation alliance."
Cathay Pacific said it would pay Dragon Airlines shareholders 820 million Hong Kong dollars ($105.6 million) in cash, with the rest of the acquisition price paid in new Cathay shares.
www.sfgate.com /cgi-bin/article.cgi?f=/n/a/2006/06/08/financial/f171908D37.DTL&feed=rss.business   (613 words)

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