Published 5 July 2009 Richina Pacific Ltd gave notice this week that it intends to stop carrying on business in New Zealand. Richina Pacific is registered in Bermuda and has carried on business in New Zealand as an overseas company since 2003, when it replaced a local company of the same name on the […]
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Richina Pacific privatisation approved
Published 16 December 2008 Richina Pacific Ltd will be delisted after shareholders voted yesterday in favour of amalgamation with 3 private Richina entities – Richina Ltd, Richina Enterprise Holdings Ltd & Richina Enterprise Holdings (SLC) Ltd. Shareholders can retain their investments in the company, but will be offered buyout opportunities 3 times in 2009. […]
Read more →Query on sharp Richina Pacific share price drop
Published 11 October 2006 Richina Pacific Ltd said last night a broker’s letter might have spurred a drop in its share price from 49c on Friday to 38c on Tuesday. NZX Regulation queried the 22% drop, combined with higher than usual volumes traded. Richina Pacific said it was unaware of any reasons relating to the operations […]
Read more →Turnaround at Mainzeal as Richina profit rises 15%
Published 30 August 2006 Richina Pacific Ltd said yesterday the Richina Land sector, which includes the New Zealand-based Mainzeal Property & Construction operations, has turned round from the first-half loss it made last year. Richina Land reported $US1.6 million ebit (earnings before interest & tax) compared to a $US2.8 million loss for the half in […]
Read more →Richina Pacific asks controlling shareholders for another short-term loan
Published 6 June 2006 NZX Regulation has granted Richina Pacific Ltd a waiver to enable $US5 million of bridging finance from its major shareholder its existing loan facility as matured before a new long-term facility can be drawn down. The majority shareholder is Richina Enterprise Holdings Ltd, a group of large private overseas interests holding […]
Read more →“A company which finds cause to struggle in good years & bad”, Richina Pacific heads into more restructuring
Published 2 April 2006 One of the best surprises for a visitor to Mainzeal’s headquarters up the top of Queen St was, after getting through some of the basement carpark without crashing into something, to find a turning space. With a bit of luck you were allowed to park there too. And then, when you […]
Read more →Richina Pacific raises profit despite Mainzeal losses, but cans dividend
Published 1 March 2006 Richina Pacific Ltd increased net profit by 32% to $US10.3 million in 2005, and increased earnings/share even more – by 26.5% to US6.82c/share – but no thanks to New Zealand construction business Mainzeal or the group’s land division. The company has canned its dividend payment because of the Mainzeal losses, saying […]
Read more →Scene & Arena continue as lossmakers for Mainzeal
Published 19 November 2005 Richina Pacific Ltd expects its Mainzeal construction sector to make a loss for the full 2005 year because of the Scene Apartments & Auckland Arena projects at Quay Park. Richina Pacific now has its headquarters in Singapore, is registered in Bermuda, has the bulk of its business focus in China and […]
Read more →Richina Pacific looks at leveraging off China properties
Published: 10 May 2005 Richina Pacific Ltd chairman John Walker told the company’s annual meeting in Auckland today it would seek global operating companies as partners to help it realise the value of the operating companies & real estate it controls & owns in China. Mr Walker said Richina, owner of a leather business near […]
Read more →Timing cuts Mainzeal input into better Richina Pacific half
Richina Pacific Ltd increased June half net profit by 18.2% to $US2.38 million (it reports in $US now that’s registered in Bermuda & based in Singapore) on revenue up 18.9% to $US184 million. At Mainzeal, the one remaining New Zealand business in a company which used to be all about construction, the $NZ1.2 million ($US700,000) […]
Read more →Long lead times make Mainzeal susceptible
We’ll weather through political uncertainty, says Richina Pacific chairman Business uncertainty brought about by political changes could impact on the construction industry, Richina Pacific chairman Sir Allan Wright (right) warned shareholders at the company’s annual meeting in Auckland yesterday. It could especially affect the commercial construction industry where Richina Pacific subsidiary Mainzeal operates, because of […]
Read more →Richina proceeds with rights issue prospectus
Virgin Islands court action may result in control change Richina Pacific Ltd lodged a prospectus with the Companies Office on Thursday for its US14.5c 1:1 renounceable cash issue, which ran into trouble when JP Morgan Partners-appointed director Ming Lu refused to sign off on it, forcing a shareholder meeting to oust him (he resigned just […]
Read more →Uncertain note in Richina Pacific letter
Mainzeal to report full-year loss A letter from Richina Pacific Ltd’s chairman, Alastair MacCormick, sent to shareholders just before Christmas, bears all the markings of a company which finds cause to struggle in good years and bad. It’s now firmly a leather company, focused on the performance of Shanghai Richina Leather, with a Beijing aquarium […]
Read more →Richina Pacific profit up on growing Chinese leather business
Mainzeal stays in margin-for-error territory Richina Pacific Ltd’s profit for the June half rose 245% to $7 million, but the picture underneath remains far from rosy. The company’s ultra-rich American backers have persisted with their desire to promote the Chinese operations, though the Beijing Blue Zoo looks entirely marginal. Back home, Mainzeal also remains an […]
Read more →Mainzeal profit $2.9 million as Richina Pacific returns to black
Construction margin 0.7% in a tough year Local construction company Mainzeal has been submerged under the interests of Richina Pacific’s directors in strengthening their China businesses, but still manages to perform positively for the group. The company said in its announcement of the 2000 result that Mainzeal “continued to perform soundly in an environment of […]
Read more →Turnaround at Richina Pacific
Richina Pacific Ltd turned round from a $15.3 million loss in 2001 to an $8.2 million profit in 2002, on revenue down 23% to $498.1 million. The difference was unusuals, which took out $18.6 million in 2001 but nothing in 2002. Earnings/share improved from negative 21.2c to 11.3c/share. Chairman Alastair MacCormick said the lift came […]
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