October
Acquisition of 7 City Gas Distribution Businesses from CRH

injection of 7 city gas distribution businesses through acquisition of Top Steed Limited from CRH

 

September
Announced 2009 Interim Results

reported a turnover of HK$1,127 million for the six months ended 30 June 2009, representing 17 per cent increase from that of the previous corresponding period. The upsurge was mainly attributable to increase in the turnover of the city gas distribution operation. Profit attributable to equity holders increased by 27 per cent from that of the corresponding period to HK$141 million.

 
HK$800 Million Loan Facility

Signed a HK$800 million 5 year loan facility for funding the expansion plan of the Group.

 

March
Announced 2008 Results after acquisition of City Gas Distribution Business

Reported outstanding performance from its new core city gas distribution business, which was the major contributor to the Group’s net profit after tax of HK$273 million and profit attributable to equity holders of HK$237 million for the year ended 31 December 2008. The core city gas distribution business contributed to the Group a profit after tax of HK$302 million and profit attributable to equity holders of HK$260 million for the financial year of 2008, after the Group acquired the entire issued share capital of China Resources Gas Limited from China Resources (Holdings) Company, the holding company of the Group. Turnover of the continuing city gas distribution business of the Group for 2008 amounted to HK$2,145 million, representing a 40 per cent increase from that of the previous year.

 
Newly Acquired City Gas Distribution Projects in the First Quarter of 2009

A total of 9 city gas distribution projects were acquired in the first quarter of 2009, including provincial capitals such as Wuhan, Kunming and Jinan.

 
HK$800 Million Term Loan Facility
Signed a HK$800 million 2 year term loan facility (the “facility”) with DBS, Agricultural Bank of China, Seng Heng Bank (A subsidiary of ICBC), China Construction Bank (Asia), Dah Shing Bank, Fubon Bank and Maybank as arrangers. The facility will be mainly used for funding the acquisition of city gas distribution projects with high growth potential, as part of the strategic expansion plan of the Group for its city gas distribution business.