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Heavy Industry

Huawei leaves Sunday, BP to launch 1000 stations, and Skyworth signs huge export orders
By STAFF EDITOR
Published: October 16, 2005 12:00 PM
Huawei to turn over stake in Sunday Huawei announced that it has agreed to vote in support of PCCW's buyout of Sunday, China Business Daily reports. Huawei currently owns 9.91% of Sunday, while PCCW is the majority owner with 79% of the company. PCCW needs 75% of the remaining shares to vote in support of its move in order to buy the company. While it is still possible for Huawei to reverse its decision before the vote on 14 November, industry analysts believe that since Sunday uses Huawei equipment for its 3G services in Hong Kong, Huawei will not suffer by giving up its stake. Link: http://dycj.ynet.com/article.jsp?oid=6568490   BP aims for 1000 The Beijing News reports that BP announced that it is planning on accelerating its expansion in China. It launched a BP-China website Friday, and has drawn up plans to work with PetroChina and Sinopec to purchase or construct 1000 filling stations in Zhejiang and Guangdong, respectively. To date, BP has invested over US$3 billion in China and has over 30 wholly- or jointly-owned companies. Link: http://www.thebeijingnews.com/news/2005/1015/10@031038.html   Skyworth ramps up exports Electronics manufacturer Skyworth announced yesterday that it had signed an agreement to export US$130 million worth of its high-tech products, Beijing Times reports. In the end of August, the company had received US$20 million worth of orders, and was preparing to enter the US mobile market. The orders signed yesterday included color TVs, mobile phones, LCDs, security cameras, and car electronics, to be exported to the US, Australia, Malaysia, and two other locations. Link: http://www.bjt.net.cn/news.asp?newsid=122908   PCCW: 0008.HK Sunday: 0866.HK Skyworth: 0751.HK
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