GUANGDONG INVESTMENT PLANS TO MAKE HOTEL BUSINESS LISTED
AsiaInfo Services, June, 2007
AsiaInfo Services 06-13-2007 Guangdong Investment Plans to Make Hotel Business Listed HONG KONG, Jun 13, 2007 (SinoCast via COMTEX) -- Guangdong Investment Limited (0270, HK), a conglomerate mainly engaged in water supply, roads and power generation in China Mainland, plans to spin off its hotel business and make it listed, said Li Wenyue, chairman of the Hong Kong-based company. The company has invested in a Sheraton Hotel in Guangzhou, which just kicked off construction in 2007 and is expected to start operation in 2009.
Now, it is studying the spin-off plan but has no detailed timetable. As for the declining revenue from roads last year, the chairman explained that new roads and bridges that were put into operation last year took away some traffic but the...
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