Tuesday, May 13, 2008

Earthquake in China

Seems like it's one disaster after another. Myanmar had barely finished with its cyclone and China is struck with a 7.8 magnitude earthquake.

A couple of china companies listed here came forth to offer help and aid to survivors - something which I found touching. There's a lot of announcements today regarding whether any of them got hit by earthquakes.

1. China Sports - not affected. Only 4% of assets are held around the region but no points of sale in affected region.

2. Synear - production plant is in Chengdu. Plant did not suffer material damage, neither are the staff hurt, but for safety precaution, plant is shut down on 13th May. Unable to touch base with about 8 distributors in the worst-hit areas. Synear will contribute 1 million RMB to Red cross for victims.

3. Hi-P - has a small operation near Chengdu. Has to be shut down due to no power supply until power supply resume. Expected to be minimum impact.

4. CentraLand - had two current development projects located in Zhengzhou, Henan province, located 1050 km from epicentre. Group's operation not affected.

5. China xlx - Plants is located at Henan, 1000 km from Sichuan. Expected to have no impact on operations.

6. Ferrochina - not affected.

7. Sino-env - not affected. Sends condolences to victims and is currently looking for ways to aid survivors of the disaster.

Seems like most are not affected. Synear is the most affected of them it seems. Money isn't everything, you only have 1 small fragile life.