Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Port investor cuts investments on projects
By Neil Denslow |
January 22, 2009, Thursday
|
Print Edition
Print Edition
CHINA Merchants Holdings (International) Co, the investor in ports moving a third of China's containers, expects capital expenditure to fall as much as 50 percent this year as trade wanes amid a global slowdown.
The company plans to spend between HK$2 billion (US$258 million) and HK$2.5 billion on capital projects this year, compared with HK$4 billion last year, Deputy General Manager Cynthia Wong said on Tuesday in a conference call organized by Merrill Lynch & Co.
"We will be cautious to take on new projects, but committed projects will be carried out as planned," Wong said, according to a summary of the call published by Bank of America Corp's Merrill yesterday. Spending will drop to about HK$1.5 billion next year, Bloomberg News said.
China Merchants sees container traffic to be little changed this year, versus a 7-percent rise last year, as slumps in the United States and Europe hit demand for Chinese-made goods, the Merrill summary said.
The company plans to spend between HK$2 billion (US$258 million) and HK$2.5 billion on capital projects this year, compared with HK$4 billion last year, Deputy General Manager Cynthia Wong said on Tuesday in a conference call organized by Merrill Lynch & Co.
"We will be cautious to take on new projects, but committed projects will be carried out as planned," Wong said, according to a summary of the call published by Bank of America Corp's Merrill yesterday. Spending will drop to about HK$1.5 billion next year, Bloomberg News said.
China Merchants sees container traffic to be little changed this year, versus a 7-percent rise last year, as slumps in the United States and Europe hit demand for Chinese-made goods, the Merrill summary said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
