Shanghai Industrial to introduce logistic business

Salomon Smith Barney pointed out that Shanghai Industrial (0363) will likely introduce the logistic businesses which need an initial investment of HK$150 mln in the coming several years, including the free trade zone infrastructure in Pudong, the distribution stations of JV and cargo transportation business in Pudong Airport. The fund house predicted that the capital expense of Shanghai Industrial will hit HK$1.9 bln this year, part of which will be used in logistic and port businesses, and believed that the company need not raise fund this year. It maintained the rating of ˇ§leading the marketˇ¨ and the earnings forecast of HK$1.056 bln in 2000 and HK$1.107 bln in 2001.

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