Swire to fold China auto sales business - papers

Newswire

HONG KONG, Nov 23 (Reuters) - Conglomerate Swire Pacific Ltd has decided to fold its auto sales business in mainland China in a move that will involve provisions of HK$100 million (US$12.8 million), Hong Kong newspapers said on Saturday. Swire officials were not available for comment. The newspapers said HK$50 million of the HK$100 million provisions had already been booked in the first half for the China business, and the remaining HK$50 million would be booked in the second half. ...

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