Inno-Pacific issues profit warning for year ended 2008
INNO-PACIFIC Holdings has issued a profit warning, saying it expects a loss for its full-year results ended Dec 31, 2008. It said that its telecommunications business was hit by 'intense competition, with incumbent telecommunications companies introducing calling cards services at extremely low prices', adding: 'The aggressive pricing packages offered by our competitors have had a negative impact on the group's telecommunication service business.'
Allgreen enters agreement with China authorities to withdraw bid
ALLGREEN Properties, together with subsidiaries of Kerry Properties, Shangri-La Asia and Kuok Brothers, has announced that they have entered into an agreement with the relevant government authorities in China to withdraw its bid for development sites in Tangshan, Hebei, citing 'current economic conditions' as the reason. It said the penalty payable for the withdrawal and termination is 21 million yuan (S$4.6 million).
Tianjin Zhong Xin says it'll be in profit position for FY2008
TIANJIN Zhong Xin Pharmaceutical Group said yesterday that according to its 'primary calculation', the company will be in a net profit position for FY2008, as compared to the loss-making position for FY2007.
Source: Business Times
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