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| Hong
Leong Asia sees rosy 2002, dismisses privatisation rumour |
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| May 13, 2002 |
Following
the restructuring completed in December last
year, Hong Leong Asia's newly acquired China-based
manufacturing and distribution businesses have performed
above expectations in the first quarter of this
year.
The two major units, China Yuchai Group and Henan
Xinfei, have increased their market share against
their competitors. Unit sales for China Yuchai Group and
Henan Xinfei increased by more than 50% (2002:
29,000 units sold, 2001: 18,000 units sold) and 33% (2002:
219,000 units sold, 2001: 157,000 units sold - refrigerators
and freezers) respectively for the first quarter of 2002
against corresponding period last year. |
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