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China Resources Retail business net profit down 60% percent
date:Mar 26, 2014
d the acquisition of Kingway Brewery Holdings Limiteds ( Kingway ) beer business.

Lai Ni Hium, CFO, said that the agreement for a joint venture company with Tesco on the integration of the retail business in China was established last year, and the agreement is still pending government approval. Under the agreement, Tescos current operations of 134 stores in the mainland and 19 shopping malls will be injected into the joint venture. Tesco is to inject its assets and cash of HK $ 4,325,000,000 o

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