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2009-4-3 03:26:00 p.m. HKT, XFNA
DJ MARKET TALK: Towngas China +16.5%;Plan To Dispose Of Panva LPG
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| 1514 [Dow Jones] Towngas China (1083.HK) +16.5% at HK$1.84, after company's plan to dispose of all of its holding in Panva LPG Investment at HK$414.2 million. Jackson Wong at Tanrich says disposal of volatile and low margin LPG business is good move, also inline with company's strategy to focus on core piped-gas business. "I think this is a good time to exit the LPG business," says Wong. Tips stock to test HK$2.00-HK$2.20 in near-term, if stock market sentiment stays buoyant.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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