China tycoon puts spoke in CIT wheel?
Tong Jinquan could have withheld support as Cambridge fails at AGM to secure mandate for issue of new units
Singapore
UNITHOLDERS of industrial landlord Cambridge Industrial Trust (CIT) shot down on Friday a fairly common proposal to let the trust manager issue new units to raise funds, in what analysts said was the first such rejection in recent memory.
The proposal likely had not received the backing of one of the trust's biggest shareholders, Chinese property tycoon Tong Jinquan, based on poll results from the trust's annual general meeting (AGM…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China knockoff raid jolts a global throng of fake-fashion influencers
Tesla profits tumble but shares rise on new vehicle plan
Brokers’ take: CGS International upgrades Nanofilm to ‘hold’ despite lower target price
Roche cuts pipeline after research setbacks and sales drop
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
London stocks hit new record at open