11:28 Cheung Wah (0648) changes to B2B internet business
(Infocast News) Cheung Wah Development (0648) today announced to pass the placement of 1.152 billion new shares, representing 61.1% of the enlarged issued share capital, at $0.18 each to Softbank Investment (International) Holding Ltd in the SGM. (SBIIH). Cheung Wah will then change its name into Softbank Investment International Strategic Ltd. After the change of the name, the business of the company will also be modified to business-to-business (B2B) internet business from dyeing business.
(10/03/00)
Softbank Investment Uninterested in Projects Linked to Richard Li
(648)
Mar 10,2000 - 13:34:50 HKT
After the special general meeting of Cheung Wah Development (0648) this morning, Softbank Investment (formerly Cheung Wah) chairman Yoshitaka Kitao told reporters his thoughts on Mr Richard Li Tzar-kai, chairman of Pacific Century CyberWorks (1186). Mr Kitao said "He (Mr Li) is doing it (business) for making money for himself." Mr Kitao emphasized that he will not participant in any investment projects related to Richard Li.
Mr Kitao also criticized Japan-based Hikari Tsushin saying that it is a copycat in the way it does business.
As to himself, Mr Kitao said he wants to do something to help the society, particularly in China.
He added that Softbank Investment may have a need to raise capital in the future and may establish a partnership with the Lai Sun group.
(Infocast News) Cheung Wah Development (0648) today announced to pass the placement of 1.152 billion new shares, representing 61.1% of the enlarged issued share capital, at $0.18 each to Softbank Investment (International) Holding Ltd in the SGM. (SBIIH). Cheung Wah will then change its name into Softbank Investment International Strategic Ltd. After the change of the name, the business of the company will also be modified to business-to-business (B2B) internet business from dyeing business.
(10/03/00)
Softbank Investment Uninterested in Projects Linked to Richard Li
(648)
Mar 10,2000 - 13:34:50 HKT
After the special general meeting of Cheung Wah Development (0648) this morning, Softbank Investment (formerly Cheung Wah) chairman Yoshitaka Kitao told reporters his thoughts on Mr Richard Li Tzar-kai, chairman of Pacific Century CyberWorks (1186). Mr Kitao said "He (Mr Li) is doing it (business) for making money for himself." Mr Kitao emphasized that he will not participant in any investment projects related to Richard Li.
Mr Kitao also criticized Japan-based Hikari Tsushin saying that it is a copycat in the way it does business.
As to himself, Mr Kitao said he wants to do something to help the society, particularly in China.
He added that Softbank Investment may have a need to raise capital in the future and may establish a partnership with the Lai Sun group.
