China's Soueast '03 pretax seen down to 900 mln yuan


(Adds details) TAIPEI, Sept 24 (Reuters) - Taiwan's largest car producer, China Motor Corp , said on Wednesday pretax profits at its mainland venture, South East (Fujian) Motor, would be down 10-25 percent from an earlier forecast due to rising competition. The 50-50 venture with Fujian's provincial government, or Soueast, is expected to post a pretax profit of 900 million yuan (US$109 million), down from a previous forecast of 1.0-1.2 billion yuan, said China Motor's vice president Hsu ...

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