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LAST year was dotted by the return of higher commodity prices and better economic growth. The world’s economies on average are back in business as growth rates and trade have started to improve once again after some period of uncertainty caused by a cooling China economy and also the slump in global crude oil prices. (145-1)
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KUOK is often mistaken for a “Tan Sri” or “Tun”. But the 94-year-old tycoon, who was born in Johor but is based in Hong Kong, is neither.
The buying remained high while the selling among directors fell based on filings on the Hong Kong Stock Exchange for the week ended October 7. A total of 26 companies recorded 112 purchases worth HK$82 million versus 12 firms with 72 disposals worth HK$152 million. The number of companies and trades on the buying side were consistent with the previous week’s 26 firms and 104 acquisitions. The buy value, however, was down from the previous week’s purchases worth HK$103 million.
This replaces announcement number 3817K released at 07.00 BST on 21 September 2016. Under Financial Highlights, the third bullet point has been amended to read "IFRS NAV was US$106.6 million or US$1.40 (105 pence*) per share, a 30% drop over the reporting period", and the third bullet point now reads "Share price discount to Adjusted NAV per share widened from 17% to 53%, based on the Fund's share price of 105 pence at the period end".
Macau Property Opportunities Fund Limited announces its results for the year ended 30 June 2016. The Company, which is managed by Sniper Capital Limited, develops and invests in real estate opportunities in Macau.
In just a few years, Evergrande Real Estate Group (OTC:EGRNF), (OTCPK:EGRNY), (3333.HK) has grown from a mid-sized, regional property company into one of China's largest developers. Its extraordinary growth has been mainly debt-financed. Evergrande is highly leveraged with large borrowings and other liabilities balanced on a small sliver of equity: total debt is now over four times shareholders' equity.