Hopewell Holdings shares fly on talk of a cash infusion
Article Abstract:
Hopewell Holdings's share prices have climbed following speculations that the firms will receive fresh cash from Li Ka-shing and other companies. Another factor for the rise is the firm's HK$25 billion elevated road and rail mass transit project in Bangkok, Thailand, which is considered a vital activity despite its being two years behind schedule. There have also been speculations that Cheung Kong Infrastructure Holdings will acquire a big interest in Hopewell. No definitive plans have been forged yet but the two firms are already conducting talks.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Investors shun Hopewell amid a rash of bad news
Article Abstract:
Investors withdrew financial support from Hopewell Holdings Ltd. after company president Gordon Wu confirmed that its $1.48 billion toll construction project in China is 47% over budget and that profits have dropped by 14% for the year ending June 30, 1995. The announcement caused Hopewell's shares to decline to 5.25 Hong Kong dollars per share. Fund managers say that although the construction company is far from bankrupt, it will have a difficult time raising funds for its future projects.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Toll-road gamble at Hopewell points at a cash crunch
Article Abstract:
Hopewell Holdings Ltd.'s recent offering of junk bonds raises doubts on the company's financial condition. The company has offered $600 million in bonds supported by a 123-kilometer toll road in Southern China. However, revenues from toll are not adequate to fulfill one interest payment to a $800 million syndicated loan for the construction of the highway. One explanation for the declining revenues is that many Chinese drivers are using a government road that has lower charges.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Comment about this article or add new information about this topic:
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