Solargiga doubles capacity

Solargiga Energy Holdings Ltd, China's second largest maker of silicon components for solar energy generation, plans to double capacity in 2008 and to meet robust global demand for clean energy next year.

Shares of Solargiga, in which Taiwan-listed Wafer Works Corp has a 21 percent stake, have jumped 77 percent since listing in March, performing best for a debut stock in a year of lacklustre IPO showings.

Last year, production capacity at Solargiga's Jinzhou plants stood at 1,000 tons of ingots and 17 million pieces of wafers, with a light-energy conversion capability of about 100MW, Chief Executive Officer Hsu You-yuan said.

HK dollar eases slightly

The Hong Kong dollar edged lower but held within a narrow range against the US dollar on Tuesday, while interbank rates were mostly firmer than the previous session.

The local currency was trading at 7.8072/73 per dollar at 0409 GMT, down 0.01 percent from late Monday trade in Asia.

The Hong Kong currency is pegged at 7.8 to the US dollar and can trade between 7.75 and 7.85.

In the interbank market, short-dated liquidity was slightly tighter on funding pressure at the end of the month and quarter, said a dealer at a European bank.

Longer-dated interbank rates edged higher, tracking movement in the US dollar rates overnight, dealers said.

Chinese fast food simmers

With this month's stock market debut of hot-pot chain Little Sheep, brokers such as Cazenove are touting a new theme to investors hungry for a slice of China's consumer boom: home-grown branded restaurants.

Chinese appetite for on-the-go burgers, fried chicken, pizza, and noodles is expected to make fast food a $66 billion industry in China by 2009, up from $51.7 billion last year, according to research firm Euromonitor.

Little Sheep, Ajisen (China), Cafe de Coral, Fairwood, and international behemoths Yum Brand's KFC and Pizza Hut, McDonald's and Burger King are all catering to growing demand for fast food.

Refinery-petrochemical deal

Qatar, Royal Dutch Shell and PetroChina have signed a letter of intent to build a refining and petrochemical complex as well as a sales unit in China, Shell and CNPC, the parent of PetroChina, said.

PetroChina would own 51 percent of the proposed joint venture, while Shell and Qatar would each hold 24.5 percent, the two companies said on Tuesday.

Aluminium prospects seen firm

Industrial metal aluminium held within its recent range in London on Tuesday, as its long-term prospects looked strong, analysts said.

The light metal used widely in aircraft and cars, hit a three-month high in the previous session, before falling to $3,115 per ton at the end of Tuesday's official open outcry

session on the London Metal Exchange, down $28 from Monday.

"Traders said the market could be closing in on the record high of $3,310 a ton seen in May 2006.

On Monday aluminium touched $3,169, its highest since March 14 and a gain of about 25 percent since the beginning of this year.

Reuters

(HK Edition 06/25/2008 page3)