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China Merchants Ports gives higher profit alert

China Merchants Port Holdings announced that it is expecting to post an increase in first half net profit of more than 50% from the same period last year.

Vincent Wee, Hong Kong and South East Asia Correspondent

July 17, 2017

1 Min Read
Kalyakan - stock.adobe.com

The group attributed the rise in profit to the expected net gain of approximately HKD775m ($99.3m) from the disposal of its entire interest in China International Marine Containers (CIMC) as well as residual profits due to it from CIMC, which is expecting to turn to a first half profit from a loss in the previous corresponding period.

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About the Author

Vincent Wee

Hong Kong and South East Asia Correspondent

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

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