|
Newspaper: |
Ming Pao Daily / Apple Daily / Ta Kung Pao / Sing Tao Daily / and Hong Kong Daily News |
|
Date: |
11 December 2008 |
At Chaoda Modern Agriculture's Annual General Meeting on December 10, 2008, Mr. KWOK Ho, Chairman of the Board, was interviewed by Hong Kong's major media, such as Ming Pao Daily, Apple Daily, Ta Kung Pao, Sing Tao Daily, and Hong Kong Daily News. Below is a translation of the key points of the interview:
-
Regarding the recently reported agricultural land policy, Mr. KWOK commented that the government has been supportive of the development of the agricultural industry. The reforms are favorable to farmers as well as agricultural enterprises. It would potentially enable Chaoda and other agricultural enterprises to lease land for a term of more than 30 years, which would help long-term planning and will have a significantly positive impact over the long run.
-
Reiterated his confidence in Chaoda and the prospects for China's agricultural products, Chairman KWOK pointed out that during an economic downturn, China's agricultural products will remain competitive in international markets because their prices are lower than those of other regions. The current economic situation has limited impact on the Chinese agriculture and rural areas.
-
Mr. KWOK expressed his belief that large-scale agricultural enterprises and agricultural cooperatives would emerge and play a major role in the agricultural industry in the next 10 to 20 years. Large agricultural corporations such as Chaoda can help farmers become more specialized, thrive amid international competition and develop brands for China's agricultural industry.
-
Chaoda has total debts of about RMB2.9 billion. Mr. KWOK said that with its operating profits and cash balance, he feels confident that the Company is fully prepared to repay its debts while maintaining a 20% growth of its farming lands and overall business. Chaoda does not currently have plans for external financing.
Related News
Photos
More>>
trade
- Our company was listed in Top 500 Chinese Enterprises 2005
- Company signed Memorandum valued 16.7 billion in Malays
- Company's Chairman went to Philippines for investigation
- On March, several overseas companies came for inspection
- Shanghai and Ningbo Chamber of Commerce organized together to go to Malaysia for