MTRC downshifts on Tuen Mun A16 tender, keeps future pipeline mostly intact
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
4 hours ago
- South China Morning Post
Hong Kong customs seizes 278 million cigarettes in tobacco smuggling crackdown
Hong Kong customs seized 278 million illicit cigarettes with an estimated market value of HK$1.25 billion (US$160.3 million) in more than 80 cases in the first half of the year as part of a cross-regional tobacco smuggling crackdown. The Customs and Excise Department said on Thursday that it had strengthened cooperation in the Asia-Pacific region to curb the inflow of illicit cigarettes since November last year. The 278 million contraband cigarettes seized in 84 large-scale cases during the first half were estimated to be worth about HK$1.25 billion, with a duty potential of around HK$920 million, customs added. Around 49 million cigarettes were uncovered in four large-scale cases involving fishing boats under a joint surveillance operation with mainland Chinese authorities targeting maritime tobacco smuggling syndicates earlier this year. Lam Chak-lun, acting deputy head of the customs revenue crimes investigation bureau, said that smugglers had shifted from using traditional cargo ships and speedboats to less conspicuous fishing vessels. Each of these vessels, often disguised with fishing gear and operating among other fishing boats, could carry up to 10 million cigarettes – equivalent to the capacity of a 40-foot container, he said. Between March and July, Hong Kong and Singapore customs also conducted a joint operation that intercepted 107 million illicit cigarettes hidden in 33 shipping containers arriving from the city state in multiple seaborne smuggling cases.
South China Morning Post
4 hours ago
- South China Morning Post
Kuaishou to pay first dividend since Hong Kong IPO as AI tools lift quarterly results
Advertisement The Beijing -based company said it would pay a special dividend of HK$0.46 per share after reporting better-than-expected financial results in the second quarter, driven by gains made from its artificial intelligence tools, according to its filing. Dividend payments to shareholders will be made on October 6. Second-quarter revenue rose 13.1 per cent to 35 billion yuan (US$4.87 billion), up from 31 billion yuan a year earlier. Profit attributable to equity holders was 4.9 billion yuan, compared to about 4 billion yuan a year ago. First-half revenue increased 12 per cent to 67.7 billion yuan, up from 60.4 billion yuan a year earlier. Profit reached 8.9 billion yuan, compared to 8.1 billion yuan a year ago. Kuaishou's shares closed down 0.21 per cent to HK$71.75 on Thursday, ahead of the earnings announcement. Its stock has gained nearly 80 per cent this year, but remains below its peak of nearly HK$400 in early 2021. Advertisement The declaration and payment of special dividends reflects not only Kuaishou's confidence in its long-term growth prospects, but also how AI innovation is expected to help drive growth at its main business segments. 'Quite a steady growth wouldn't have been possible without the trust and support of our shareholders,' chairman and CEO Cheng Yixiao said at Thursday's post-earnings call with analysts. 'We will consider measures, such as share repurchases and dividend payments, to reward our shareholders.'
South China Morning Post
5 hours ago
- South China Morning Post
Overseas AI data centre demand powers up China's diesel generator exports
China's exports of diesel generator sets are on the rise as the global boom in artificial intelligence (AI) drives investment in data centres, which in turn is fuelling demand for reliable backup power systems – an area where diesel units remain critical. Analysts said diesel generator sets sell for higher prices overseas, opening up vast opportunities for overseas market growth. In the first seven months of this year, China exported 502,463 diesel generator sets, up more than 20 per cent year on year. The value of the shipments rose more than 28 per cent to US$2.52 billion, according to data released on Wednesday by the General Administration of Customs in Beijing. In July alone, China exported 74,962 diesel generator sets, registering an 8.2 per cent year-on-year increase, while the value climbed 22.9 per cent to US$382.55 million, customs data showed. The rise in diesel generator set exports comes as growing demand for AI services and related computing capacity drives investment in data centres , where diesel units play a critical role as backup power to keep them running during grid outages. Diesel generator sets made in China sell for around 3 million yuan (US$417,807) domestically and about 4 million yuan abroad, according to a note released by analysts at GF Securities this week. 'In the future, the valuation system for diesel generator sets will shift from domestic computing infrastructure benchmarks to international pricing, opening up vast opportunities in overseas markets and expanding long-term market value,' they said.
