Hong Kong delirium grows for shares backed by China

Article Abstract:

Chinese companies' recent initial public offerings in Hong Kong generated warm response from both Chinese and Hong Kong investors. The reaction reinforces speculations about China's efforts to push for increasing shares in Hong Kong as part of its campaign for the July 1997 reunification with Hong Kong. Gitic Enterprises Ltd's HK$105-million initial public offering, for example, earned more than HK$73.5 billion. This represents a 700-fold excess subscription at the lowest.

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Cheung Kong, Hutchison post poor earnings

Article Abstract:

Hong Kong's prime property developers, Cheung Kong (Holdings) Ltd and Hutchison Whampoa Ltd, have been badly affected by the region's economic slump. Cheung Kong posted net profit of $3.02 bil Hong Kong dollars for the 6 months ending June 30, 1998, decreasing 78% from its 1996 earnings of $13.78 bil Hong Kong dollars. Hutchison's 1996 earnings of $7.85 bil Hong Kong dollars fell 45% to only $4.31 bil Hong Kong dollars for the 6 months ending June 30, 1998.

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Hutchison net surges 27%, Cheung Kong's rises 3.4%

Article Abstract:

Cheung Kong Holdings Ltd. registered a small 3.4% increase in earnings for 1994 while its sister company, Hutchison Whampoa Ltd. posted a 27% increase in earnings. Cheung Kong's 1994 net profit reached 10.11 billion Hong Kong (HK) dollars, compared to 1993's 9.78 billion HK dollars. Hutchison Whampoa topped its 1993 earnings record of 6.34 billion HK dollars by posting 8.65 billion HK dollars in 1994.

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