Category: Money Tips Date: 2006-05-25
Source: Beijing Times Author: Yu Kai
Bulletin board of directors announced that the company in September 8, 2006 board meeting to adopt the following resolution: 1, approved the company's subsidiary Sichuan Wantong Gas Co., Ltd. and China Resources Gas Investment (Hong Kong) Co., Ltd. joint venture established Suining Resources LP Natural Gas Co., Ltd., to build 30 million standard cubic meters / day of liquefied natural gas project engineering, Suining registered capital of 10,000 CRC million yuan, of which Sichuan Wantong to After assessment of land, public facilities, physical assets, invested 45 million yuan, accounting for the registered capital of 45%. Second, agree that company appraised value of the land use right to buy 8.854 million yuan in Suining city, electricity production, 88 River Road, land (total land area of 6211.19 square meters).
Comments: Star power belongs to the local regional electricity company, is Suining City, Sichuan Province, the only power supply enterprise, with ownership of the grid Suining also owns generation assets. In addition, it diversified its operations and tap water, natural gas pipe network construction, pharmaceutical, hotel services, trade, chemical and many other industries are involved.
We all know, the recent "Forbes's youngest billionaires," Zhou Yi-ming, a report has been hollowed out star power is overwhelming. According to relevant reports, ZHOU Yi-ming, the White Star power, its actual negative net assets, so to spend money to create a fictional intermediary worth 2.7 billion; bank executives while their advice and suggestions, so that Zhou Ming use the loan to purchase equity; state-owned stock transfer decision-making hasty, be asking for trouble, ZHOU Yi-Ming-Star power value of 380 million yuan to obtain a controlling interest; state-owned enterprise executives collusion, a laissez-faire ZHOU Yi-Ming big embezzlement of state assets. Almost all of the chain of custody have been breakdown, ZHOU Yi-Ming successfully achieved a "空手套白�quot; hollowing out listed companies, involving up to 760 million yuan.
It is understood that began in December 2004, Zhou Ming and the name of holding other companies began to experience a bank-based intensive litigation related businesses. In Zhou Ming, after being unmasked, after news that star power has been managed in Suining city. It should be said that when Zhou Yi-ming, the reason why phase star power, star power is the fancy-owned natural gas resources. After all, "Minglun line" of the Hong Kong-listed company's Minglun Group (0346.HK, now renamed the United Sinopec) has large-scale investment in gas fields. Clearly, in star power and draw the boundaries of Minglun, the local government is working to revitalize the company's core business.
It is understood that the company's partner China Resources Group's focus on the development of the Mainland in recent years, city gas business in Jiangsu, Sichuan, Fujian, Henan and other places set up a joint venture gas pipeline operators, and is constantly expanding to other provinces. In Henan Province, Zhengzhou, China Resources has already mastered the gas (8099.HK) 20% of the shares. The star power in hand CRC, we believe that will help improve the company's gas business competitiveness. We believe that with further efforts on the local government, star power is expected to gradually bottomed out.
