Asia Cassava Resources (841 HK) has recorded a net profit of HK$34 million for the first half ended September 30, surging for 11.3 times year-on-year. Earnings per share were 11.3 HK cents. An interim dividend of 2 HK cents per share was declared. (Sing Tao Finance B3)
Asia Financial (662 HK) said it has increased its capital contribution to PICC life with PICC Group by 3.385 billion yuan. The registered capital of PICC Life will increase from 5.42 billion yuan to 8.8 billion yuan in which the company and Bangkok Bank will contribute 169 million yuan. The company will maintain a 5 per cent stake in PICC Life upon the completion of capital increase. (Sing Tao Finance B3)
Bank of China (3988 HK) announced for the period ended December 21, the lender’s cross-border settlement in yuan amounts to over 1.1 billion yuan, becoming the first lender to break through 1 billion level. (Hong Kong Economic Journal P. 8)
Citic Resources (1205 HK), biggest shareholder of Macarthur, plans to sell its direct interests in a number of Macarthur’s operating assets in return for shares worth A$110m. Citic’s holding in the Australian group will decrease from 22.4 per cent to 19.2 per cent upon the deal. (Hong Kong Economic Journal P. 8)
Fubon Bank (Hong Kong) (636 HK) said it has fully subscribed allocated 32 million rights shares of Xiamen Bank at a subscription price of 2.5 yuan each. The total subscription fee of 79.96 million yuan is payable on or before January 30 next year. The bank now holds 19.99 per cent stake in Xiamen Bank. (Sing Tao Finance B3)
Citic Resources (1051 HK) has acquired a gold and silver mine project in Martabe, Indonesia, earlier in July this year. The company expects the mine to start operation by the end of 2010 or early 2011 to produce 250,000 once of gold and 3 million once of silver annually. (Hong Kong Economic Journal P. 8)
Huscoke Resources (704 HK) has acquired coke processing assets in Shanxi province earlier for about 726 million yuan. The company said the acquisition helps to realize its integration and create synergy with its existing coke trade business. (Hong Kong Economic Journal P. 8)
ICBC (1398 HK) chairman Jiang Jianqing said he had not heard of any plan for the lender to acquire a stake in Taiwan’s Cathay Financial Holding. He added that ICBC is targeting a decline in new yuan loans next year, without giving a specific loan target. He also said the lender has no financing plan in near term. (Hong Kong Economic Times A14)
Lenovo (992 HK), a Chinese high-tech giant, denied that it would set up a research and development centre in Taiwan. According to the Commercial Times, executive Ma Jianrong said Lenovo plans to set up a research and development centre in Taiwan and the company will use the Taiwan’s technological know-how to boost its global competitiveness. (Sing Tao Finance B3)
Shenzhen-based retailer Maoye (848 HK) denied rumour on chairman Huang Maoru’s arrest for alleged connections to the insider trading case involving Huang Guangyu, former Chairman of Gome (0493). The company said chairman Huang was not in the company only due to private issue. Tradings of Maoye resumes today. (Hong Kong Economic Times A14)
Skyworth Digital (751 HK) announced that its TV sales volume in November reaches 849,000 units, rising 18 per cent year-on-year. The company said the 45 per cent growth in the total sales volume on the mainland could offset its 48 per cent drop in the overseas TV sales volume. (Sing Tao Finance B4)
Sand China (1928 HK) chairman Sheldon Adelson said projects in the Cotai Strip will resume within five months. The first two phrases of construction will be completed in 2011 and the whole project will be completed within five years. (Sing Tao Finance B3)
Superb (1228 HK) Summit announced it has signed a cooperative agreement with Tianjin commodity trade market to build a timber trade market in Binhai District and to establish a Chinese international timber product trade exhibition center. The company has 51 per cent stake in the project. (Sing Tao Finance B3)
Taifook Securities (665 HK) announced that it has appointed Mr. Li Ming Shan to be the chairman and non-executive director of the company and Mr. Li Jian Guo as the executive director. Dr. Henry Cheng Kar Shun, representing NWS Holdings (0659), will leave the board of directors. (Sing Tao Finance B3)
Yardway Group (646 HK) said ICAC executed a search warrant at the company’s offices on March 17 and it has concluded its investigation and no further investigative action is required. Trading of the company resumes today. Meanwhile, the company announced that its net profit for the first half doubled, amounting to HK$8.12 million. Earnings per share were 0.72 HK cent. No interim dividend was declared. (Sing Tao Finance B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, December 23, 2009
Tuesday, December 22, 2009
Hong Kong Stock Market Wrap Dec. 21st, 2009
IPO: United Co RUSAL’s application for a HK$2 billion initial public offering on the Hong Kong bourse has received approval from regulator. The SFC has set a HK$1 million floor on the subscription for its IPO, which is closed to retail investors. The aluminum producer plans to start gauging demand for the sale on January 4, sources said. (Hong Kong Economic Times A14)
Build King Holdings (240 HK) plans to issue 310 million shares at a subscription price of 15 HK cents apiece, a 40 per cent discount of its closing price yesterday, on the basis of one offer share for every three shares. The company plans to raise HK$46.6 million for general working capital. (Sing Tao Finance B2)
China Eastern Airlines (670 HK) has signed a letter of content with Anhui Civil Airport Group Company Limited, confirming their cooperation in the construction of a project located in Hefei Xinqiao International Airport. China Eastern Airlines will pay for the project in cash amounting to 352 million yuan. (Sing Tao Finance B2)
China Gamma (164 HK) announced that it has entered into a cooperation agreement with The Academy of Military Medical Sciences (the Academy), pursuant to which the company can gain support from the Academy, one of the top research institutions in China, for further developing its gamma ray technologies and applications. Trading in shares of the company resumed yesterday. (Hong Kong Economic Journal P. 7)
China Mobile (941 HK) announced that it had a net addition of 4.579 million subscribers in November, while number of 3G subscribers is 2.976 million, which is lower than its target of 5 million subscribers a month. (Hong Kong Economic Times A14)
China Pacific Insurance (2601 HK), the country’s third-largest insurer, is about to go public tomorrow. Yet, sources said buyers only offer HK$26 apiece, 17 per cent lower than its offer price at HK$28. (Hong Kong Economic Times A14)
Hong Kong Resources (2882 HK) said its net profit amounts to HK$108 million for the six months ended September 30. Earnings per share were 19 HK cents. An interim dividend of 0.7 HK cent apiece was declared. (Sing Tao Finance B2)
HSBC (5 HK) has sold its Paris offices for £356 million (HK$4.4 million), completing its planned sale of its three biggest sites in the past two months. Over the past two months, HSBC has sold its European headquarters and its New York City building for £772.5 million and £205 million respectively. (Hong Kong Economic Times A15)
Hung Hing Printing (450 HK) has posted a net profit of HK$101 million for the first half ended September 30, diving 55 per cent from a year earlier. Earnings per share were 10.9 HK cents. An interim dividend of 4 HK cents per share was distributed. (Sing Tao Finance B3)
KTP Holdings (645 HK) has posted a net profit of US$2.99 million for the first half ended September 30, plunging 33 per cent year-on-year. Earnings per share were 0.88 US cent. No interim dividend was declared. (Sing Tao Finance B3)
Shenzhen-based retailer Maoye International Holdings (848 HK) chairman Huang Maoru was arrested earlier for alleged connections to the insider trading case involving Huang Guangyu, former Chairman of Gome (0493). Maoye subsidiary said Huang is performing his duty as usual and goes to work every day. (Hong Kong Economic Times A14)
NWS Holdings (659 HK) announced that the sales of 52.86 per cent share of Taifook Securities has been completed. The buyer Hai Tong plans to make an unconditional mandatory general offer to acquire all issued Taifook shares. (Sing Tao Finance B2)
Sunlight Real Estate Investment Trust (435 HK) said it plans to sell projects with low return in order to more effectively reflect it valuation. The company is also seeking merger and acquisitions in the coming year. (Hong Kong Economic Journal P. 11)
Unity Investments’ (913 HK) fully underwritten placing has been rejected by the stock exchange on December 21 since the latter said the company did not provided shareholders with information on how the funds under the placing would be specifically used. (Sing Tao Finance B3)
Victory City International (539 HK) has agreed to open a top up placing of 35 million existing shares to five institutional investors at a placing price of HK$1.35. The net proceeds from the subscription amount to HK$47 million and will be used for general working capital. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Build King Holdings (240 HK) plans to issue 310 million shares at a subscription price of 15 HK cents apiece, a 40 per cent discount of its closing price yesterday, on the basis of one offer share for every three shares. The company plans to raise HK$46.6 million for general working capital. (Sing Tao Finance B2)
China Eastern Airlines (670 HK) has signed a letter of content with Anhui Civil Airport Group Company Limited, confirming their cooperation in the construction of a project located in Hefei Xinqiao International Airport. China Eastern Airlines will pay for the project in cash amounting to 352 million yuan. (Sing Tao Finance B2)
China Gamma (164 HK) announced that it has entered into a cooperation agreement with The Academy of Military Medical Sciences (the Academy), pursuant to which the company can gain support from the Academy, one of the top research institutions in China, for further developing its gamma ray technologies and applications. Trading in shares of the company resumed yesterday. (Hong Kong Economic Journal P. 7)
China Mobile (941 HK) announced that it had a net addition of 4.579 million subscribers in November, while number of 3G subscribers is 2.976 million, which is lower than its target of 5 million subscribers a month. (Hong Kong Economic Times A14)
China Pacific Insurance (2601 HK), the country’s third-largest insurer, is about to go public tomorrow. Yet, sources said buyers only offer HK$26 apiece, 17 per cent lower than its offer price at HK$28. (Hong Kong Economic Times A14)
Hong Kong Resources (2882 HK) said its net profit amounts to HK$108 million for the six months ended September 30. Earnings per share were 19 HK cents. An interim dividend of 0.7 HK cent apiece was declared. (Sing Tao Finance B2)
HSBC (5 HK) has sold its Paris offices for £356 million (HK$4.4 million), completing its planned sale of its three biggest sites in the past two months. Over the past two months, HSBC has sold its European headquarters and its New York City building for £772.5 million and £205 million respectively. (Hong Kong Economic Times A15)
Hung Hing Printing (450 HK) has posted a net profit of HK$101 million for the first half ended September 30, diving 55 per cent from a year earlier. Earnings per share were 10.9 HK cents. An interim dividend of 4 HK cents per share was distributed. (Sing Tao Finance B3)
KTP Holdings (645 HK) has posted a net profit of US$2.99 million for the first half ended September 30, plunging 33 per cent year-on-year. Earnings per share were 0.88 US cent. No interim dividend was declared. (Sing Tao Finance B3)
Shenzhen-based retailer Maoye International Holdings (848 HK) chairman Huang Maoru was arrested earlier for alleged connections to the insider trading case involving Huang Guangyu, former Chairman of Gome (0493). Maoye subsidiary said Huang is performing his duty as usual and goes to work every day. (Hong Kong Economic Times A14)
NWS Holdings (659 HK) announced that the sales of 52.86 per cent share of Taifook Securities has been completed. The buyer Hai Tong plans to make an unconditional mandatory general offer to acquire all issued Taifook shares. (Sing Tao Finance B2)
Sunlight Real Estate Investment Trust (435 HK) said it plans to sell projects with low return in order to more effectively reflect it valuation. The company is also seeking merger and acquisitions in the coming year. (Hong Kong Economic Journal P. 11)
Unity Investments’ (913 HK) fully underwritten placing has been rejected by the stock exchange on December 21 since the latter said the company did not provided shareholders with information on how the funds under the placing would be specifically used. (Sing Tao Finance B3)
Victory City International (539 HK) has agreed to open a top up placing of 35 million existing shares to five institutional investors at a placing price of HK$1.35. The net proceeds from the subscription amount to HK$47 million and will be used for general working capital. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, December 21, 2009
Hong Kong Stock Market Wrap Dec. 18th, 2009
China Merchants Holdings (144 HK) announced that it has entered into a JV agreement with Qingdao New Qianwan Container Terminal pursuant to which they agreed to establish a 50:50 joint venture to engage in construction, operation and management of a container terminal of Qingdao Port and the provision of port-related services. (Hong Kong Economic Times A10)
Rumour has it that China Travel International Investment (308 HK) is to form a joint venture Shaolin Culture and Tourism Co Ltd and list it in 2011. Yet, the government of Dengfeng, where the Shaolin Temple is based, said the report about temple’s IPO and selling state assets at a low price is absolutely untrue. (Hong Kong Economic Times A10)
Coastal Greenland (1124 HK) said it is in talks with a mainland regional government to build protective housing. The company plans to spend HK$1 billion to HK$1.5 billion on acquisitions next year and said it has no plan for financing at this stage. (Hong Kong Economic Journal P.4)
Hutchison Whampoa Ltd (13 HK), the largest by tonnage port management operator in the world, have been awarded the contract for running the third container terminal for Port Botany when the facility is finished in 2012. (Sing Tao Finance B12)
Imagi International (585 HK) said its interim net loss widened to HK$725 million for the six months ended September 30 from HK$21.8 million last year. Loss per share was 30.32 HK cents. No interim dividend was distributed. (Sing Tao Finance B12)
Melbourne Enterprises (158 HK) announced that for the year ended September 30, it had a net profit of HK$294 million, down 18.6 per cent compared to the previous corresponding period. Earnings per share were HK$11.74. A final dividend of HK$2.2 per share is declared. (Hong Kong Economic Journal P.4)
PYI Corporation (498 HK) has posted a net profit of HK$116 million for the six months ended September 30, surging 56 per cent year-on-year. Earnings per share were 2.9 HK cents. No interim dividend was declared. (Hong Kong Economic Journal P.4)
Bank of Communications (3328 HK) said it has signed a cooperation and credit line agreement to provide China Aerospace Science and Technology Corporation (CASC) with a credit line of 10 billion yuan. (Hong Kong Economic Journal P.8)
China Gamma Group (164 HK) announced that it has signed a ten-year cooperation agreement with the Academy of Military Medical Sciences in China to further develop its gamma ray technologies and to enhance public health and living standard in China. (Hong Kong Economic Journal P.8)
Chinese People Holdings (681 HK) has recorded a net profit of HK$232 million for the first half, surging 165 times year-on-year as it has sold it subsidiary for 220.8 million yuan. Earnings per share were 5.7 HK cents. No interim dividend was declared. (Sing Tao Finance B15)
Glorious Property (845 HK) announced that it has agreed to acquire 70 per cent stake in a residential project in Tianjin for 1.15 billion yuan. The gross site area amounts to 1.196 million square meters. The company plans to develop villas and low-rise apartments in the site. (Hong Kong Economic Times A14)
Rumour has it that HSBC (5 HK) plans to list on the Shanghai bourse in March 2010 at the earliest to raise up to 5 billion pounds (HK$62.6 billion). HSBC has appointed China Citic Bank, China International Capital Corp Ltd. and Goldman Sachs to advise on the offering, according to a British newspaper. (Hong Kong Economic Journal P.6)
New Century Group (234 HK) has posted a net profit of HK$137 million for the six months ended September 30. Earnings per share were 2.38 HK cents. An interim dividend of 0.2 HK cents per share was declared. (Sing Tao Finance B15)
Renhe Commercial (1387 HK) has agreed to sell its Zhengzhou Project to First Achieve Holdings Limited for HK$2.765 billion on an average of HK$40,000 per square meter. (Hong Kong Economic Times A14)
Water Oasis Group (1161 HK) has conditionally granted a option right of up to 37 million option shares of the company at a price of HK$2.26 per share to its consulting agent. (Sing Tao Finance B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Rumour has it that China Travel International Investment (308 HK) is to form a joint venture Shaolin Culture and Tourism Co Ltd and list it in 2011. Yet, the government of Dengfeng, where the Shaolin Temple is based, said the report about temple’s IPO and selling state assets at a low price is absolutely untrue. (Hong Kong Economic Times A10)
Coastal Greenland (1124 HK) said it is in talks with a mainland regional government to build protective housing. The company plans to spend HK$1 billion to HK$1.5 billion on acquisitions next year and said it has no plan for financing at this stage. (Hong Kong Economic Journal P.4)
Hutchison Whampoa Ltd (13 HK), the largest by tonnage port management operator in the world, have been awarded the contract for running the third container terminal for Port Botany when the facility is finished in 2012. (Sing Tao Finance B12)
Imagi International (585 HK) said its interim net loss widened to HK$725 million for the six months ended September 30 from HK$21.8 million last year. Loss per share was 30.32 HK cents. No interim dividend was distributed. (Sing Tao Finance B12)
Melbourne Enterprises (158 HK) announced that for the year ended September 30, it had a net profit of HK$294 million, down 18.6 per cent compared to the previous corresponding period. Earnings per share were HK$11.74. A final dividend of HK$2.2 per share is declared. (Hong Kong Economic Journal P.4)
PYI Corporation (498 HK) has posted a net profit of HK$116 million for the six months ended September 30, surging 56 per cent year-on-year. Earnings per share were 2.9 HK cents. No interim dividend was declared. (Hong Kong Economic Journal P.4)
Bank of Communications (3328 HK) said it has signed a cooperation and credit line agreement to provide China Aerospace Science and Technology Corporation (CASC) with a credit line of 10 billion yuan. (Hong Kong Economic Journal P.8)
China Gamma Group (164 HK) announced that it has signed a ten-year cooperation agreement with the Academy of Military Medical Sciences in China to further develop its gamma ray technologies and to enhance public health and living standard in China. (Hong Kong Economic Journal P.8)
Chinese People Holdings (681 HK) has recorded a net profit of HK$232 million for the first half, surging 165 times year-on-year as it has sold it subsidiary for 220.8 million yuan. Earnings per share were 5.7 HK cents. No interim dividend was declared. (Sing Tao Finance B15)
Glorious Property (845 HK) announced that it has agreed to acquire 70 per cent stake in a residential project in Tianjin for 1.15 billion yuan. The gross site area amounts to 1.196 million square meters. The company plans to develop villas and low-rise apartments in the site. (Hong Kong Economic Times A14)
Rumour has it that HSBC (5 HK) plans to list on the Shanghai bourse in March 2010 at the earliest to raise up to 5 billion pounds (HK$62.6 billion). HSBC has appointed China Citic Bank, China International Capital Corp Ltd. and Goldman Sachs to advise on the offering, according to a British newspaper. (Hong Kong Economic Journal P.6)
New Century Group (234 HK) has posted a net profit of HK$137 million for the six months ended September 30. Earnings per share were 2.38 HK cents. An interim dividend of 0.2 HK cents per share was declared. (Sing Tao Finance B15)
Renhe Commercial (1387 HK) has agreed to sell its Zhengzhou Project to First Achieve Holdings Limited for HK$2.765 billion on an average of HK$40,000 per square meter. (Hong Kong Economic Times A14)
Water Oasis Group (1161 HK) has conditionally granted a option right of up to 37 million option shares of the company at a price of HK$2.26 per share to its consulting agent. (Sing Tao Finance B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, December 18, 2009
Hong Kong Stock Market Wrap Dec. 17th, 2009
IPO: American International Group Inc has moved to advanced levels to list its Asian life insurance unit American International Assurance in Hong Kong in an initial public offering that could raise money up to US$20 billion (HK$156 billion). (Hong Kong Economic Journal P. 4)
Ams Public Transport (1140 HK) has posted a net profit of HK$22.67 million for the first half, rocketing 80 per cent compared with a year earlier. The company proposes no interim dividend. (Sing Tao Finance B4)
Brilliance China Automotive (1114 HK) said it is confident that its total sales can surge by 25 to 30 per cent this year. The sales and profit is expected to grow 20 per cent next year. (Sing Tao Finance B5)
China Merchants Holdings (144 HK) is in talks with an independent third party to form a 50:50 joint venture company in Qingdao engaging in ports business with an investment of 6.2 billion yuan and a registered capital of 2 billion yuan. (Sing Tao Finance B4)
China National Materials (1893 HK) Company’s parent China National Materials Group has signed an agreement with Shanghai Pudong Development Bank that the lender would provide a 10 billion yuan credit support and other financial services to the group. (Hong Kong Economic Journal P. 6)
Costal Greenland (1124 HK) has posted an interim profit of HK$80 million for the period ended September 30, diving 83 per cent year-on-year. Earnings per share were 2.87 HK cents. No interim dividend was declared. (Hong Kong Economic Journal P. 10)
Esprit (330 HK), a Hong Kong-based apparel retailer, announced that it plans to spend HK$3.88 billion to purchase 51 per cent stake in textile joint venture Esprit China from its partner China Resources Enterprise (0291). Esprit China will be wholly owned by Esprit after the stake purchase. The company said this takeover might help further facilitate its expansion on the mainland. (Sing Tao Finance B5)
Huadian Power’s (1071 HK) parent China Huadian Power Group said its first 10MWp solar energy plant in Ningxia has started operation. The project is the biggest solar energy plant among Aisa. (Hong Kong Economic Journal P. 2)
Luk Fook Holdings (590 HK) has recorded a net profit of HK$188 million for the first half ended September 30, climbing 53 per cent compared with a year ago. Earnings per share were 38.26 HK cents. An interim dividend of 15 HK cents per share was declared. (Sing Tao Finance B4)
Media China (419 HK) will use proceeds for future acquisitions, said chairman after financing. The company will focus on areas of travel resources and new media, two to three projects are expected to be completed next year. (Hong Kong Economic Times A16)
Minmetals Land Ltd (230 HK) and its parent, the mainland’s largest metals trader, aim to raise as much as HK$936 million from a share sale by selling a combined 430 million shares, including 390 million new shares, for between HK$2.45 and HK$2.60 each, to fund land purchases and development. (Hong Kong Economic Times A14)
Modern Beauty Salon Holdings (919 HK) has recorded an interim net loss of HK$44.90 million for the six months ended September 30. Loss per share was 6.21 HK cents. No interim dividend was declared. (Sing Tao Finance B4)
Samson Paper (731 HK) has posted a net profit of HK$30 million for the first half, plunging 19 per cent year-on-year. Earnings per share were 6 HK cents. An interim dividend of 1 HK cent per share was declared. (Sing Tao Finance B4)
Wumart (8277 HK) Stores’ 42 million H shares were sold by Pureheart Asset for HK$514 million at between HK$11.78 and HK$12.23, a 4 per cent to 7.5 per cent discount to its closing price at HK$12.74 yesterday. (Hong Kong Economic Times A16)
Zhaojin Mining (1818 HK) announced that it has granted approval from the Chinese regulatory to issue domestic corporate bonds in an amount of no more than 1.5 billion yuan. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Ams Public Transport (1140 HK) has posted a net profit of HK$22.67 million for the first half, rocketing 80 per cent compared with a year earlier. The company proposes no interim dividend. (Sing Tao Finance B4)
Brilliance China Automotive (1114 HK) said it is confident that its total sales can surge by 25 to 30 per cent this year. The sales and profit is expected to grow 20 per cent next year. (Sing Tao Finance B5)
China Merchants Holdings (144 HK) is in talks with an independent third party to form a 50:50 joint venture company in Qingdao engaging in ports business with an investment of 6.2 billion yuan and a registered capital of 2 billion yuan. (Sing Tao Finance B4)
China National Materials (1893 HK) Company’s parent China National Materials Group has signed an agreement with Shanghai Pudong Development Bank that the lender would provide a 10 billion yuan credit support and other financial services to the group. (Hong Kong Economic Journal P. 6)
Costal Greenland (1124 HK) has posted an interim profit of HK$80 million for the period ended September 30, diving 83 per cent year-on-year. Earnings per share were 2.87 HK cents. No interim dividend was declared. (Hong Kong Economic Journal P. 10)
Esprit (330 HK), a Hong Kong-based apparel retailer, announced that it plans to spend HK$3.88 billion to purchase 51 per cent stake in textile joint venture Esprit China from its partner China Resources Enterprise (0291). Esprit China will be wholly owned by Esprit after the stake purchase. The company said this takeover might help further facilitate its expansion on the mainland. (Sing Tao Finance B5)
Huadian Power’s (1071 HK) parent China Huadian Power Group said its first 10MWp solar energy plant in Ningxia has started operation. The project is the biggest solar energy plant among Aisa. (Hong Kong Economic Journal P. 2)
Luk Fook Holdings (590 HK) has recorded a net profit of HK$188 million for the first half ended September 30, climbing 53 per cent compared with a year ago. Earnings per share were 38.26 HK cents. An interim dividend of 15 HK cents per share was declared. (Sing Tao Finance B4)
Media China (419 HK) will use proceeds for future acquisitions, said chairman after financing. The company will focus on areas of travel resources and new media, two to three projects are expected to be completed next year. (Hong Kong Economic Times A16)
Minmetals Land Ltd (230 HK) and its parent, the mainland’s largest metals trader, aim to raise as much as HK$936 million from a share sale by selling a combined 430 million shares, including 390 million new shares, for between HK$2.45 and HK$2.60 each, to fund land purchases and development. (Hong Kong Economic Times A14)
Modern Beauty Salon Holdings (919 HK) has recorded an interim net loss of HK$44.90 million for the six months ended September 30. Loss per share was 6.21 HK cents. No interim dividend was declared. (Sing Tao Finance B4)
Samson Paper (731 HK) has posted a net profit of HK$30 million for the first half, plunging 19 per cent year-on-year. Earnings per share were 6 HK cents. An interim dividend of 1 HK cent per share was declared. (Sing Tao Finance B4)
Wumart (8277 HK) Stores’ 42 million H shares were sold by Pureheart Asset for HK$514 million at between HK$11.78 and HK$12.23, a 4 per cent to 7.5 per cent discount to its closing price at HK$12.74 yesterday. (Hong Kong Economic Times A16)
Zhaojin Mining (1818 HK) announced that it has granted approval from the Chinese regulatory to issue domestic corporate bonds in an amount of no more than 1.5 billion yuan. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, December 17, 2009
Hong Kong Stock Market Wrap Dec. 16th, 2009
Bauhaus International (483 HK) has recorded a net profit of HK$17.10 million for the first half ended September 30, plunging 30 per cent year-on-year. Earnings per share were 4.8 HK cents. An interim dividend of 2 HK cents per share was declared. (Sing Tao Finance B4)
Shareholders of Belle International (1880 HK), a retailer of ladies footwear, plans to raise HK$2.378 billion by placing 253 million shares at between HK$9.11 to HK$9.40 per share, a discount of 5.62 to 8.53 per cent of its closing price yesterday. (Sing Tao Finance B1)
Li Ka-shing, chairman of Cheung Kong (13 HK), has further accumulated 1.563 million shares of Cheung Kong this month for HK$158.49 million, he is now holding 41.31 per cent stake in the company. (Sing Tao Finance B4)
China Gas (384 HK) has posted a net profit of HK$432 million for the first half ended September 30, surging 5.8 times from a year ago. Earnings per share were 12.95 HK cents. No interim dividend was declared. (Sing Tao Finance B4)
China National Offshore Oil Corp (883 HK) has signed a production sharing contract with BG Group for block 63/16 in the Qiong Dong Nan basin of western South China Sea. Under the terms of the contract, BG Group will conduct 3D seismic survey and exploration drilling. All expenditures incurred during the exploration period will be borne by BG Group. CNOOC has the right to participate in up to 51 per cent working interest in any commercial discoveries in the block. (Hong Kong Economic Journal P. 8)
Geely Automobile (175 HK) would complete its acquisition of Volvo by the coming lunar new year, Reuter quoted sources. Geely spokesman refused to comment on the rumour. (Hong Kong Economic Times A14)
Huaneng Power International’s (902 HK) parent Huaneng Group has gained approval from Chinese regulators to develop a coal-to-electricity project for 7.7 billion yuan. The project construction is expected to kick off in 2010. (Hong Kong Economic Journal P. 8)
K. Wah International’s (173 HK) chairman Lui Che Woo said the company would try to declare a special dividend to shareholders to celebrate its 55th anniversary of the company and the harvest of its mainland property business. (Sing Tao Finance B2)
Lifestyle International’s (1212 HK) substantial shareholder Smart Success and its wholly-owned subsidiary Win Early have agreed to sell 60 per cent stake in Ample Sun to a German real estate fund company for HK$594 million. Lifestyle International can generate a profit of HK$20.60 million upon the deal. (Sing Tao Finance B2)
Man Sang International (938 HK) has recorded a net profit of HK$20 million for the first half ended September 30, rising almost 3 times from a year ago. Earning per share were 1.65 HK cents. An interim dividend of 3 HK cents per share was declared. (Sing Tao Finance B2)
Huang Maoru, chairman of Maoye International (848 HK), is rumoured to be involved in a case related to Gome (493) founder Huang Guangyu, who was arrested last year for alleged economic crimes. Maoye International trading was suspended since yesterday. (Sing Tao Finance B2)
Shui On Land (272 HK) Ltd yesterday signed a HK$1 billion three-year term syndicated loan agreement with a consortium of nine international banks and financial institutions, the first unsecured loan successfully arranged for a Chinese mainland-based Hong Kong property developer since the onset of the 2008 global financial crisis. (Hong Kong Economic Journal P. 10)
Sun Hung Kai Properties (16 HK) said ION Orchard, a part of its jointly developed project Orchard Turn in Singapore, has won an award of the world’s property market in Asia Pacific (MIPIM Asia). (Hong Kong Economic Journal P. 10)
Wang On Group (1222 HK) has recorded an interim profit of HK$69 million for the period ended September 30, compared with a net loss of HK$83 million last year. Earnings per share were 3.68 HK cents. An interim dividend of 0.3 HK cent per share was declared. (Hong Kong Economic Journal P. 10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Shareholders of Belle International (1880 HK), a retailer of ladies footwear, plans to raise HK$2.378 billion by placing 253 million shares at between HK$9.11 to HK$9.40 per share, a discount of 5.62 to 8.53 per cent of its closing price yesterday. (Sing Tao Finance B1)
Li Ka-shing, chairman of Cheung Kong (13 HK), has further accumulated 1.563 million shares of Cheung Kong this month for HK$158.49 million, he is now holding 41.31 per cent stake in the company. (Sing Tao Finance B4)
China Gas (384 HK) has posted a net profit of HK$432 million for the first half ended September 30, surging 5.8 times from a year ago. Earnings per share were 12.95 HK cents. No interim dividend was declared. (Sing Tao Finance B4)
China National Offshore Oil Corp (883 HK) has signed a production sharing contract with BG Group for block 63/16 in the Qiong Dong Nan basin of western South China Sea. Under the terms of the contract, BG Group will conduct 3D seismic survey and exploration drilling. All expenditures incurred during the exploration period will be borne by BG Group. CNOOC has the right to participate in up to 51 per cent working interest in any commercial discoveries in the block. (Hong Kong Economic Journal P. 8)
Geely Automobile (175 HK) would complete its acquisition of Volvo by the coming lunar new year, Reuter quoted sources. Geely spokesman refused to comment on the rumour. (Hong Kong Economic Times A14)
Huaneng Power International’s (902 HK) parent Huaneng Group has gained approval from Chinese regulators to develop a coal-to-electricity project for 7.7 billion yuan. The project construction is expected to kick off in 2010. (Hong Kong Economic Journal P. 8)
K. Wah International’s (173 HK) chairman Lui Che Woo said the company would try to declare a special dividend to shareholders to celebrate its 55th anniversary of the company and the harvest of its mainland property business. (Sing Tao Finance B2)
Lifestyle International’s (1212 HK) substantial shareholder Smart Success and its wholly-owned subsidiary Win Early have agreed to sell 60 per cent stake in Ample Sun to a German real estate fund company for HK$594 million. Lifestyle International can generate a profit of HK$20.60 million upon the deal. (Sing Tao Finance B2)
Man Sang International (938 HK) has recorded a net profit of HK$20 million for the first half ended September 30, rising almost 3 times from a year ago. Earning per share were 1.65 HK cents. An interim dividend of 3 HK cents per share was declared. (Sing Tao Finance B2)
Huang Maoru, chairman of Maoye International (848 HK), is rumoured to be involved in a case related to Gome (493) founder Huang Guangyu, who was arrested last year for alleged economic crimes. Maoye International trading was suspended since yesterday. (Sing Tao Finance B2)
Shui On Land (272 HK) Ltd yesterday signed a HK$1 billion three-year term syndicated loan agreement with a consortium of nine international banks and financial institutions, the first unsecured loan successfully arranged for a Chinese mainland-based Hong Kong property developer since the onset of the 2008 global financial crisis. (Hong Kong Economic Journal P. 10)
Sun Hung Kai Properties (16 HK) said ION Orchard, a part of its jointly developed project Orchard Turn in Singapore, has won an award of the world’s property market in Asia Pacific (MIPIM Asia). (Hong Kong Economic Journal P. 10)
Wang On Group (1222 HK) has recorded an interim profit of HK$69 million for the period ended September 30, compared with a net loss of HK$83 million last year. Earnings per share were 3.68 HK cents. An interim dividend of 0.3 HK cent per share was declared. (Hong Kong Economic Journal P. 10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap Dec. 15th, 2009
IPO: Failed to pass previous hearings, UC Rusal will attend IPO hearing again tomorrow in order to go public by January next year. (Hong Kong Economic Times A14) Coal miner SouthGobi Energy Resources, which has listed in Canada in 2003, plans to raise as much as HK$4 billion on the Hong Kong bourse by issuing 20 to 25 per cent extra shares. (Hong Kong Economic Times A14)
Artini China (789 HK) announced that it has placed 70 million shares at a price of HK$0.78 per share, a 14 per cent discount of the closing price yesterday, to raise HK$52.4 million. (Sing Tao Finance B2)
Asia Financial (662 HK) announced that it has sold more than 90 per cent units in the stage of pre-sale in a Suzhou property project for 500 million yuan. The company holds more than 20 per cent stake in the project. (Sing Tao Finance B2)
CCT Telecom (138 HK) has sold a unit of 1470 square feet for HK$3.3 million. The company said sales beat last year and has recorded transactions worth HK$37 billion so far.
(Hong Kong Economic Journal P. 9)
China Construction Bank (939 HK) said it plans to sell 20 billion yuan worth of fifteen-year subordinated bonds on the interbank market to replenish its capital. (Hong Kong Economic Journal P. 4)
China Life Insurance (2628 HK) announced that its accumulated premium income for the first eleven months amounted to 274.4 billion yuan, declining 2.28 per cent compared with the corresponding period last year. (Sing Tao Finance B2)
China South City (1668 HK) said it has returned to the black and recorded a net profit of HK$245 million for the first half ended September 30. The company proposes no interim dividend. (Sing Tao Finance B2)
Fubon Bank (Hong Kong) (636 HK) announced that its net profit for the year ending 31 December is expected to be substantially below that of the previous year due to impairment of Lehman Minibonds and further charges for impaired loans. (Sing Tao Finance B4)
Power plant operator GCL-Poly Energy (3800 HK) said yesterday that it aims to set up a joint venture with China Investment Corp to invest in solar power generation stations overseas early next year. The JV would have a registered capital of US$500 million. (Hong Kong Economic Journal P. 4)
Geely Automobile’s (175 HK) subsidiary DSI Holdings Pty Ltd is acquiring all or partial option deed from DSI Korea. Geely Automobile said the parties agreed to extend the expiry date of the option deed of DSI Korea from December 15 to December 19. (Hong Kong Economic Journal P. 4)
Gome Electrical (493 HK) Appliances announced that it has agreed to sign an agreement to refinance the original loan of 3.6 billion yuan through the lending bank to Beijing Zhansheng for two years with a current interest rate of 4.86 per cent per annum. The original loan was extended to Beijing Zhansheng for the purchase of the entire registered share capital of Dazhong. (Sing Tao Finance B2)
Midland Holdings (1200 HK) has received emails from four staff saying it was the last day of their employment yesterday. The four account for two third of the department of public relations. The company did not comment on their action but said it will not affect its daily operation. (Hong Kong Economic Journal P. 9)
Modern Beauty (919 HK) Salon Holdings announced that it has removed Ms. Yuen Siu Ping as executive director with effect from 15 December since she has failed to perform her duties as an executive director and her business objectives are not in line with the company. (Sing Tao Finance B2)
Swire Pacific (19 HK) plans to spin off and list its property unit on the Hong Kong bourse to raise up to HK$31 billion next year. The proceeds will be used to finance its mainland property business mainly, according to market sources. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Artini China (789 HK) announced that it has placed 70 million shares at a price of HK$0.78 per share, a 14 per cent discount of the closing price yesterday, to raise HK$52.4 million. (Sing Tao Finance B2)
Asia Financial (662 HK) announced that it has sold more than 90 per cent units in the stage of pre-sale in a Suzhou property project for 500 million yuan. The company holds more than 20 per cent stake in the project. (Sing Tao Finance B2)
CCT Telecom (138 HK) has sold a unit of 1470 square feet for HK$3.3 million. The company said sales beat last year and has recorded transactions worth HK$37 billion so far.
(Hong Kong Economic Journal P. 9)
China Construction Bank (939 HK) said it plans to sell 20 billion yuan worth of fifteen-year subordinated bonds on the interbank market to replenish its capital. (Hong Kong Economic Journal P. 4)
China Life Insurance (2628 HK) announced that its accumulated premium income for the first eleven months amounted to 274.4 billion yuan, declining 2.28 per cent compared with the corresponding period last year. (Sing Tao Finance B2)
China South City (1668 HK) said it has returned to the black and recorded a net profit of HK$245 million for the first half ended September 30. The company proposes no interim dividend. (Sing Tao Finance B2)
Fubon Bank (Hong Kong) (636 HK) announced that its net profit for the year ending 31 December is expected to be substantially below that of the previous year due to impairment of Lehman Minibonds and further charges for impaired loans. (Sing Tao Finance B4)
Power plant operator GCL-Poly Energy (3800 HK) said yesterday that it aims to set up a joint venture with China Investment Corp to invest in solar power generation stations overseas early next year. The JV would have a registered capital of US$500 million. (Hong Kong Economic Journal P. 4)
Geely Automobile’s (175 HK) subsidiary DSI Holdings Pty Ltd is acquiring all or partial option deed from DSI Korea. Geely Automobile said the parties agreed to extend the expiry date of the option deed of DSI Korea from December 15 to December 19. (Hong Kong Economic Journal P. 4)
Gome Electrical (493 HK) Appliances announced that it has agreed to sign an agreement to refinance the original loan of 3.6 billion yuan through the lending bank to Beijing Zhansheng for two years with a current interest rate of 4.86 per cent per annum. The original loan was extended to Beijing Zhansheng for the purchase of the entire registered share capital of Dazhong. (Sing Tao Finance B2)
Midland Holdings (1200 HK) has received emails from four staff saying it was the last day of their employment yesterday. The four account for two third of the department of public relations. The company did not comment on their action but said it will not affect its daily operation. (Hong Kong Economic Journal P. 9)
Modern Beauty (919 HK) Salon Holdings announced that it has removed Ms. Yuen Siu Ping as executive director with effect from 15 December since she has failed to perform her duties as an executive director and her business objectives are not in line with the company. (Sing Tao Finance B2)
Swire Pacific (19 HK) plans to spin off and list its property unit on the Hong Kong bourse to raise up to HK$31 billion next year. The proceeds will be used to finance its mainland property business mainly, according to market sources. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, December 15, 2009
Hong Kong Stock Market Wrap Dec. 14th, 2009
IPO: Mainland developer TEDA (MSD) said it is developing a modern service district in Binhai and the project investment amounts to 12 billion yuan. The developer said it is seeking other projects and would like to list on the Hong Kong bourse. (Hong Kong Economic Journal P. 10)
China COSCO (1919 HK) announced that it expects to record a loss in its profits for the year ending December 31 on declining global trade volume and deep recession of shipping market. (Sing Tao Finance B3)
China Merchants Bank (3968 HK) said it would continue to look for financing after placing shares. The lender said it has set an interim target and aims to keep the capital adequacy ratio between the level of 10 per cent and 12 per cent. (Hong Kong Economic Times A20)
China Power International Development (2380 HK) said it has an electricity capacity of over 2900 trillion kilo-watt after acquiring Wu Ling Power Corp. The company is now building a hydro energy system and the project is expected to be completed in four years. (Hong Kong Economic Times A20)
Daisho Microline (567 HK) has recorded a net profit of 19 million for the first half ended September 30, surging 5.79 times compared with last year. Earnings per share were 4.02 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Fountain Set (420 HK) has posted an annual net loss of HK$49 million for the year ended September 30, against a net loss of 396 million in the corresponding period last year. Loss per share was 6.2 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Galaxy Entertainment (27 HK) said it will announce its fund raising plan within three to four weeks’ time. The company said the plan would not involve any share issuing. (Hong Kong Economic Journal P. 10)
Green Global Resources (61 HK), which is soon to takeover North Asia Resources Group, announced that North Asia Resources Group has been granted a mining rights license, fulfilling the conditions of the takeover by Green Global Resources. The takeover will be completed on December 16. (Sing Tao Finance B3)
HKEx (388 HK) chief executive Charles Li Xiaojia said its future direction is to develop yuan products. HKEx will release its three-year strategic plan in March instead of January. (Sing Tao Finance B3)
ICBC (Asia) (349 HK) announced that it has bought a 10 per cent stake in the Hong Kong Mercantile Exchange as a founding shareholder. The lender is the second investor in the bourse for commodities after China Ocean Shipping (Group) Company, parent of China COSCO (1919). (Sing Tao Finance B3)
Longfor Properties (960 HK) announced that it has won a land bid for 2 pieces of land in Qingdao and Chengdu for 1.313 billion yuan. (Sing Tao Finance B3)
Picc Property and Casualty (2328 HK) announced that its premium income for the first eleventh months ended November 30 was up to 110 billion yuan, rising by 17 per cent or 16.1 billion yuan compared with last financial year. (Sing Tao Finance B3)
SOHO (410 HK) China is confident of reaching more than 13 billion yuan in sales this year. The company said it will focus on Shanghai in the near future and would like to develop rental return. (Hong Kong Economic Journal P. 10)
Standard Chartered (2888 HK) chief executive for Asia, Jaspal Bindra, said yesterday that the bank is not in talks to buy assets in Thailand, following a report saying that the bank is planning to acquire Thailand’s Siam City Bank. (Sing Tao Finance B3)
Sunac China (1918 HK) announced that it has decided not to proceed with its global offering under the original timetable after reviewing the current market conditions. The company said it will continue to review the situation to see whether it will relaunch its IPO. (Sing Tao Finance B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China COSCO (1919 HK) announced that it expects to record a loss in its profits for the year ending December 31 on declining global trade volume and deep recession of shipping market. (Sing Tao Finance B3)
China Merchants Bank (3968 HK) said it would continue to look for financing after placing shares. The lender said it has set an interim target and aims to keep the capital adequacy ratio between the level of 10 per cent and 12 per cent. (Hong Kong Economic Times A20)
China Power International Development (2380 HK) said it has an electricity capacity of over 2900 trillion kilo-watt after acquiring Wu Ling Power Corp. The company is now building a hydro energy system and the project is expected to be completed in four years. (Hong Kong Economic Times A20)
Daisho Microline (567 HK) has recorded a net profit of 19 million for the first half ended September 30, surging 5.79 times compared with last year. Earnings per share were 4.02 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Fountain Set (420 HK) has posted an annual net loss of HK$49 million for the year ended September 30, against a net loss of 396 million in the corresponding period last year. Loss per share was 6.2 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Galaxy Entertainment (27 HK) said it will announce its fund raising plan within three to four weeks’ time. The company said the plan would not involve any share issuing. (Hong Kong Economic Journal P. 10)
Green Global Resources (61 HK), which is soon to takeover North Asia Resources Group, announced that North Asia Resources Group has been granted a mining rights license, fulfilling the conditions of the takeover by Green Global Resources. The takeover will be completed on December 16. (Sing Tao Finance B3)
HKEx (388 HK) chief executive Charles Li Xiaojia said its future direction is to develop yuan products. HKEx will release its three-year strategic plan in March instead of January. (Sing Tao Finance B3)
ICBC (Asia) (349 HK) announced that it has bought a 10 per cent stake in the Hong Kong Mercantile Exchange as a founding shareholder. The lender is the second investor in the bourse for commodities after China Ocean Shipping (Group) Company, parent of China COSCO (1919). (Sing Tao Finance B3)
Longfor Properties (960 HK) announced that it has won a land bid for 2 pieces of land in Qingdao and Chengdu for 1.313 billion yuan. (Sing Tao Finance B3)
Picc Property and Casualty (2328 HK) announced that its premium income for the first eleventh months ended November 30 was up to 110 billion yuan, rising by 17 per cent or 16.1 billion yuan compared with last financial year. (Sing Tao Finance B3)
SOHO (410 HK) China is confident of reaching more than 13 billion yuan in sales this year. The company said it will focus on Shanghai in the near future and would like to develop rental return. (Hong Kong Economic Journal P. 10)
Standard Chartered (2888 HK) chief executive for Asia, Jaspal Bindra, said yesterday that the bank is not in talks to buy assets in Thailand, following a report saying that the bank is planning to acquire Thailand’s Siam City Bank. (Sing Tao Finance B3)
Sunac China (1918 HK) announced that it has decided not to proceed with its global offering under the original timetable after reviewing the current market conditions. The company said it will continue to review the situation to see whether it will relaunch its IPO. (Sing Tao Finance B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, December 14, 2009
Hong Kong Stock Market Wrap Dec. 11th, 2009
China Construction Bank (939 HK) has granted license from Vietnam regulatory to open a branch in Ho Chi Minh City, the charter capital amounts to US$20 million. The bank is granted a time limit of 99 years for operation. (Sing Tao Finance B11)
Industrial and Commercial Bank of China (1398 HK) has granted license from Vietnam regulatory to open a branch in Hanoi, with a charter capital of US$50 million. The bank is granted a time limit of 99 years for operation. (Sing Tao Finance B11)
Hong Kong-based Lerado Group (1225 HK) has applied for a Taiwan depositary receipt (TDR) listing on the Taiwan bourse. Lerado plans to issue up to 100 million units of TDR, with each TDR representing one common share. (Hong Kong Economic Times A10)
Mongolia Energy (276 HK) announced it has sold a Gulfstream G200 plane to NW Mobile (0862) for HK$96 million. A loss of HK$22.9 million is expected upon the deal. (Hong Kong Economic Journal P. 5)
Sales of Sinotruk’s (3808 HK) A share subsidiary Jinan Truk have climbed 30 per cent in Novemeber to 7040 units compare with last month. Sinotruk holds 63.78 per cent listed shares of Jinan Truk. (Hong Kong Economic Times A10)
Standard Chartered (2888 HK) announced that Jaspal Singh Bindra, chief executive officer, Asia is appointed as group executive director from 1 January 2010. More, Han Seung-Soo, Richard Delbridge and Simon Jonathan Lowth are appointed independent non-executive directors. Gareth Bullock, group executive director, will retire from the board before the next AGM. (Hong Kong Economic Times A10)
Tai Cheung Holdings Limited (88 HK) has recorded a profit of HK$172.9 million for the six months ended September 30, edging up 2.79 per cent from a year ago. Earnings per share were 28 cents. An interim dividend of 10 cents per share was declared. (Hong Kong Economic Journal P. 5)
BYD (1211 HK) clarified that the statistical difference of sales volume on its actual sales volume and plants report is normal, as the actual sales volume does not include sales in exports, military and police automobiles. (Sing Tao Finance B3)
C C Land (1224 HK) announced that its accumulated contracted sales ended November 30 amounted to 1.6 billion yuan, 33 per cent higher than the revised annual sales target. The company has set its annual sales target at 3 billion in 2010. (Hong Kong Economic Journal P.14)
China Zenith Chemical (362 HK) plans to raise its production volume of PVC to 240,000 tonnes so that it can be the largest PVC supplier in the eastern part of China within two to three years. (Hong Kong Economic Journal P.10)
Guangdong Investment (270 HK) clarifies on press articles that the total capital commitment for the construction of no. 3 and no. 4 power plant in Hui Lai power plant amount to 342 million yuan, but not 7 billion yuan as reported by the media. The generation capacity of Hui Lai power plant was expected to increase to 3,200MW. The company stated that it has no timetable for any acquisition of assets from its parent. (Hong Kong Economic Times A18)
Hong Kong Energy (987 HK) announced that it has signed an agreement with Kangping County in Shenyang to develop a wind power plant in condition that the 1-year evaluation shows an investment potential there. (Hong Kong Economic Times A18)
Pearl Oriental (632 HK) Innovation announced that it has placed 110 million existing shares at a price of HK$1.02 per share, a 19.7 per cent discount of the closing price last Friday, to seek HK$114 million. The proceeds will be used for its general working capital and possible acquisition of overseas energy and natural resources projects. (Hong Kong Economic Journal P.10)
Petrochina (857 HK) announced that it has discovered a large oilfield in Qinghai with oil reserves of 100 million tonnes, almost the largest in 30 years. The company has initially controlled 55 square meters of the discovered area. (Hong Kong Economic Times A18)
Yangtzekiang Garment (294 HK) has recorded a net profit of 2.25 million for the first half ended September 30, diving 93 per cent compared with the corresponding period last year. Earnings per share were 11 HK cents. An interim dividend of 1 HK cent per share was declared. (Hong Kong Economic Journal P.10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Industrial and Commercial Bank of China (1398 HK) has granted license from Vietnam regulatory to open a branch in Hanoi, with a charter capital of US$50 million. The bank is granted a time limit of 99 years for operation. (Sing Tao Finance B11)
Hong Kong-based Lerado Group (1225 HK) has applied for a Taiwan depositary receipt (TDR) listing on the Taiwan bourse. Lerado plans to issue up to 100 million units of TDR, with each TDR representing one common share. (Hong Kong Economic Times A10)
Mongolia Energy (276 HK) announced it has sold a Gulfstream G200 plane to NW Mobile (0862) for HK$96 million. A loss of HK$22.9 million is expected upon the deal. (Hong Kong Economic Journal P. 5)
Sales of Sinotruk’s (3808 HK) A share subsidiary Jinan Truk have climbed 30 per cent in Novemeber to 7040 units compare with last month. Sinotruk holds 63.78 per cent listed shares of Jinan Truk. (Hong Kong Economic Times A10)
Standard Chartered (2888 HK) announced that Jaspal Singh Bindra, chief executive officer, Asia is appointed as group executive director from 1 January 2010. More, Han Seung-Soo, Richard Delbridge and Simon Jonathan Lowth are appointed independent non-executive directors. Gareth Bullock, group executive director, will retire from the board before the next AGM. (Hong Kong Economic Times A10)
Tai Cheung Holdings Limited (88 HK) has recorded a profit of HK$172.9 million for the six months ended September 30, edging up 2.79 per cent from a year ago. Earnings per share were 28 cents. An interim dividend of 10 cents per share was declared. (Hong Kong Economic Journal P. 5)
BYD (1211 HK) clarified that the statistical difference of sales volume on its actual sales volume and plants report is normal, as the actual sales volume does not include sales in exports, military and police automobiles. (Sing Tao Finance B3)
C C Land (1224 HK) announced that its accumulated contracted sales ended November 30 amounted to 1.6 billion yuan, 33 per cent higher than the revised annual sales target. The company has set its annual sales target at 3 billion in 2010. (Hong Kong Economic Journal P.14)
China Zenith Chemical (362 HK) plans to raise its production volume of PVC to 240,000 tonnes so that it can be the largest PVC supplier in the eastern part of China within two to three years. (Hong Kong Economic Journal P.10)
Guangdong Investment (270 HK) clarifies on press articles that the total capital commitment for the construction of no. 3 and no. 4 power plant in Hui Lai power plant amount to 342 million yuan, but not 7 billion yuan as reported by the media. The generation capacity of Hui Lai power plant was expected to increase to 3,200MW. The company stated that it has no timetable for any acquisition of assets from its parent. (Hong Kong Economic Times A18)
Hong Kong Energy (987 HK) announced that it has signed an agreement with Kangping County in Shenyang to develop a wind power plant in condition that the 1-year evaluation shows an investment potential there. (Hong Kong Economic Times A18)
Pearl Oriental (632 HK) Innovation announced that it has placed 110 million existing shares at a price of HK$1.02 per share, a 19.7 per cent discount of the closing price last Friday, to seek HK$114 million. The proceeds will be used for its general working capital and possible acquisition of overseas energy and natural resources projects. (Hong Kong Economic Journal P.10)
Petrochina (857 HK) announced that it has discovered a large oilfield in Qinghai with oil reserves of 100 million tonnes, almost the largest in 30 years. The company has initially controlled 55 square meters of the discovered area. (Hong Kong Economic Times A18)
Yangtzekiang Garment (294 HK) has recorded a net profit of 2.25 million for the first half ended September 30, diving 93 per cent compared with the corresponding period last year. Earnings per share were 11 HK cents. An interim dividend of 1 HK cent per share was declared. (Hong Kong Economic Journal P.10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, December 11, 2009
Hong Kong Stock Market Wrap Dec. 10th, 2009
Blu Spa Holdings (8176 HK) announced that its wholly subsidiary Castletop Assets has signed a letter of intent with ZSTC regarding the formation of a joint venture. (Sing Tao Finance, B4)
Cathay Pacific Airways’ (293 HK) passengers and cargo in November have increased by 1.5 per cent and 7.6 per cent respectively from a year earlier. (Hong Kong Economic Times A14)
China Construction Bank (939 HK), the China’s second-largest lender, plans to issue subordinated bonds worth 20 billion yuan by the end of the year to supplement its capital, sources said. (Sing Tao Finance B2)
China South City Holdings (1668 HK) announced yesterday that it has won a land bid in Nanchang City for 555 million yuan. The land will be developed into a logistic and exhibition centre. (Sing Tao Fincance B4)
China State Construction International (3311 HK) announced the group has signed an agreement with Yangquan government regarding the Build – Operate – Transfer (BOT) of a Class-1 highway project from Yangquan to Niangziguan, in Shanxi province. The project is designed as a double carriage way with 21.96 kilometers long. The project period includes 2 years construction and 30 years operation. Total investment amounts to 1.835 billion yuan. (Hong Kong Economic Journal P. 12)
China Strategic (235 HK) announced that its executive director Yeung Kwok-yu has resigned and the company has appointed Yau Wing-yiu, a partner of AID Partners Capital Limited as the new executive director. (Sing Tao Finance B4)
China Unicom (762 HK) said it has already sold 100,000 iPhones since the October launch and 71 per cent of the sales have signed a 2-year 3G consumption contract with the operator. (Sing Tao Finance B4)
A shareholder of Digital China (861 HK) sold 33.16 million old shares yesterday at a price between HK$9.00 and HK$9.80 for HK$325 million, a 5.8 per cent to 13 per cent discount of the closing price yesterday, according to market sources. (Sing Tao Finance B4)
Guangzhou Investment (123 HK) announced it has acquired five land lots in Guangzhou for 1.915 billion yuan. The project has been approved for residential use. (Hong Kong Economic Journal P. 12)
Hon Kwok Land Investment (160 HK) has recorded a net profit of HK$285 million for the six months ended September 30, up 12 per cent from a year ago. Earnings per share were 59.45 HK cents. No interim dividend was declared. (Hong Kong Economic Times A14)
Shui On Land (272 HK) announced that contracted sales for the fist then months have reached 5.4 billion yuan, a double compared with a year earlier. Contracted sales in the third quarter were 3.2 billion yuan while that in October amounted to 200 million yuan. (Sing Tao Finance B4)
Sundart International (2288 HK) has posted a net profit of HK$120 million for the first half ended September 30, surging 95 per cent year-on-year. Earnings per share were 31 HK cents. An interim dividend of 8.5 HK cents per share was declared. (Sing Tao Finance B4)
Tcl Multimedia Technology (170 HK) announced that its sales volume of LCD TV for the first eleven months has hit 7.15 million units, surging 99 per cent year-on-year. (Sing Tao Finance B4)
TSC Offshore Group (206 HK) has placed 90 million shares at HK$2.53 apiece, an 11.23 per cent discount to its closing price at HK$2.85, to raise as much as HK$219 million for operation fund and acquisitions purposes. (Hong Kong Economic Times A14)
The Federal Court of Australia approved Yanzhou Coal Mining’s (1171 HK) acquisition of 100 per cent of stake in Felix Resources yesterday. The acquisition is priced at A$16.95 per share or A$3.3 billion. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Cathay Pacific Airways’ (293 HK) passengers and cargo in November have increased by 1.5 per cent and 7.6 per cent respectively from a year earlier. (Hong Kong Economic Times A14)
China Construction Bank (939 HK), the China’s second-largest lender, plans to issue subordinated bonds worth 20 billion yuan by the end of the year to supplement its capital, sources said. (Sing Tao Finance B2)
China South City Holdings (1668 HK) announced yesterday that it has won a land bid in Nanchang City for 555 million yuan. The land will be developed into a logistic and exhibition centre. (Sing Tao Fincance B4)
China State Construction International (3311 HK) announced the group has signed an agreement with Yangquan government regarding the Build – Operate – Transfer (BOT) of a Class-1 highway project from Yangquan to Niangziguan, in Shanxi province. The project is designed as a double carriage way with 21.96 kilometers long. The project period includes 2 years construction and 30 years operation. Total investment amounts to 1.835 billion yuan. (Hong Kong Economic Journal P. 12)
China Strategic (235 HK) announced that its executive director Yeung Kwok-yu has resigned and the company has appointed Yau Wing-yiu, a partner of AID Partners Capital Limited as the new executive director. (Sing Tao Finance B4)
China Unicom (762 HK) said it has already sold 100,000 iPhones since the October launch and 71 per cent of the sales have signed a 2-year 3G consumption contract with the operator. (Sing Tao Finance B4)
A shareholder of Digital China (861 HK) sold 33.16 million old shares yesterday at a price between HK$9.00 and HK$9.80 for HK$325 million, a 5.8 per cent to 13 per cent discount of the closing price yesterday, according to market sources. (Sing Tao Finance B4)
Guangzhou Investment (123 HK) announced it has acquired five land lots in Guangzhou for 1.915 billion yuan. The project has been approved for residential use. (Hong Kong Economic Journal P. 12)
Hon Kwok Land Investment (160 HK) has recorded a net profit of HK$285 million for the six months ended September 30, up 12 per cent from a year ago. Earnings per share were 59.45 HK cents. No interim dividend was declared. (Hong Kong Economic Times A14)
Shui On Land (272 HK) announced that contracted sales for the fist then months have reached 5.4 billion yuan, a double compared with a year earlier. Contracted sales in the third quarter were 3.2 billion yuan while that in October amounted to 200 million yuan. (Sing Tao Finance B4)
Sundart International (2288 HK) has posted a net profit of HK$120 million for the first half ended September 30, surging 95 per cent year-on-year. Earnings per share were 31 HK cents. An interim dividend of 8.5 HK cents per share was declared. (Sing Tao Finance B4)
Tcl Multimedia Technology (170 HK) announced that its sales volume of LCD TV for the first eleven months has hit 7.15 million units, surging 99 per cent year-on-year. (Sing Tao Finance B4)
TSC Offshore Group (206 HK) has placed 90 million shares at HK$2.53 apiece, an 11.23 per cent discount to its closing price at HK$2.85, to raise as much as HK$219 million for operation fund and acquisitions purposes. (Hong Kong Economic Times A14)
The Federal Court of Australia approved Yanzhou Coal Mining’s (1171 HK) acquisition of 100 per cent of stake in Felix Resources yesterday. The acquisition is priced at A$16.95 per share or A$3.3 billion. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, December 10, 2009
Hong Kong Stock Market Wrap Dec. 9th, 2009
Apparel maker Bosideng International (3998 HK) has recorded a net profit of 60.62 million yuan for the first half ended September 30, jumping 19 per cent year-on-year.
An interim dividend of 3.8 fens per share was declared. (Sing Tao Finance B4)
CCB International (Holdings) Ltd (939HK), a wholly owned subsidiary of CCB in Hong Kong, plans to set up a private equity worth US$1 billion in Hong Kong, aiming to hold 15 per cent stake in Shanghai Commercial Bank in Hong Kong. (Sing Tao Finance B4)
China Power New Energy Development (735 HK) has entered into a joint venture agreement with Shanghai Green and CLP Chongming to establish a company in Shanghai. The project involves construction and operation of a wind farm located at the north-eastern part of Chongming Island, Shanghai which will install 24 wind turbines, each with an output of 2MW and a total installed capacity of 48MW. The total cost of investment of the project is estimated to be approximately 531.641 million yuan. (Hong Kong Economic Times A16)
China’s biggest offshore oil company CNOOC Ltd (883 HK) said yesterday its Canada-based partner Husky Energy had made a second significant deepwater gas discovery in the South China Sea, showing high potential in energy resources in the region. The newly discovered Liuhua 34-2 field, located in the Pearl River Mouth Basin in the eastern South China Sea, is capable of producing 55 million cubic feet of natural gas per day during test drilling, CNOOC said in a statement yesterday. (Hong Kong Economic Journal P. 9)
Dickson Concepts (113 HK) has posted a net profit of HK$81.16 million for the first half ended September 30, edging up 5.1 per cent compared with the corresponding period last year. Earnings per share were 21.8 HK cents. An interim dividend of 13 HK cents per share was declared. (Sing Tao Finance B3)
Fantasia (1777 HK) announced that it has signed a strategic cooperation agreement with China Construction Bank Corporation (0939) to form a long-term cooperation relationship. According to the agreement, CCB Shenzhen branch will provide a credit limit of 20 billion yuan in the coming five years to support Fantasia’s real property development. (Sing Tao Finance B4)
Greentown China (3900 HK), a Hong Kong-listed mainland property developer, announced that its accumulated sales have exceeded 50 billion yuan for the period ended December 8, surging 3.4 times compared with a year ago. (Sing Tao Finance B4)
Rumour has it that HSBC (5 HK) is set to buy the retail and SME businesses of Royal Bank of Scotland in India, China and Malaysia, according to Indian newspaper Mint. Spokesperson from Royal Bank of Scotland says the deal is in ongoing discussion and would make appropriate announcement in due course while HSBC’s spokesperson refused to comment. (Sing Tao Finance B3)
Mayer Holdings (1116 HK) has agreed to acquire Maxipetrol HK for HK$1.264 billion, the latter will be engaged in petroleum production in Argentina. The deal will be settled by promissory notes of HK$400 million and two batches of convertible bonds worth HK$864 million. (Sing Tao Finance B4)
Miramar Hotel & Investment (71 HK) has posted a net profit of HK$128 million for the first half ended September 30, climbing 5.8 per cent from a year earlier. An interim dividend of 13 HK cents per share was declared. (Sing Tao Finance B4)
Neo-Neon Holdings (1868 HK) announced it has gained approval from Taiwan regulatory to offer and list 140 million units of TDRs to raise up to HK$386 billion. Neo-Neon intends to use the net proceeds from the TDR issue for expansion of production capacity of LED-based lighting business in the PRC to cater for the rising demand of the LED-based lighting market.
(Hong Kong Economic Times A16)
New World Development (17 HK) has prepared around HK$7 billion to pay for government land premiums next year, said managing director Henry Cheng Kar-shun. The premium will be for a gross floor area of more than two million square feet, spreading mostly between sites in Sai Kung, Wu Kai Sha and Yuen Long. (Hong Kong Economic Journal P. 12)
Sino-Ocean Land (3377 HK) has agreed to buy the remaining 30 per cent stake in a property project in Hangzhou for 50 million yuan. Upon completion of the transaction, the property project will become indirectly wholly-owned by Sino-Ocean Land, which will give greater flexibility for the company to introduce any potential strategic partner to invest in the project, the company said in a statement. (Hong Kong Economic Journal P. 12)
Mainland developer SPG Land (337 HK) said contracted sales for the first 11 months have already hit 5.4 billion yuan, exceeding its revised target of 5.1 billion yuan for all of this year. The firm’s contracted sales last year totaled 1.8 billion yuan. The Shanghai-based firm has land reserves of 4.7 million square meters and it plans to expand its land bank by spending 10 billion yuan to acquire a further two million square meters next year. (Hong Kong Economic Journal P. 12)
Swire Pacific Ltd (19 HK), which may spin off its property unit Swire Properties Ltd next year, plans to hire Goldman Sachs Group Inc, HSBC Holdings Plc and Morgan Stanley to arrange the share sale that may raise HK$2.5 billion to HK$3 billion, sources said. (Hong Kong Economic Journal P. 12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
An interim dividend of 3.8 fens per share was declared. (Sing Tao Finance B4)
CCB International (Holdings) Ltd (939HK), a wholly owned subsidiary of CCB in Hong Kong, plans to set up a private equity worth US$1 billion in Hong Kong, aiming to hold 15 per cent stake in Shanghai Commercial Bank in Hong Kong. (Sing Tao Finance B4)
China Power New Energy Development (735 HK) has entered into a joint venture agreement with Shanghai Green and CLP Chongming to establish a company in Shanghai. The project involves construction and operation of a wind farm located at the north-eastern part of Chongming Island, Shanghai which will install 24 wind turbines, each with an output of 2MW and a total installed capacity of 48MW. The total cost of investment of the project is estimated to be approximately 531.641 million yuan. (Hong Kong Economic Times A16)
China’s biggest offshore oil company CNOOC Ltd (883 HK) said yesterday its Canada-based partner Husky Energy had made a second significant deepwater gas discovery in the South China Sea, showing high potential in energy resources in the region. The newly discovered Liuhua 34-2 field, located in the Pearl River Mouth Basin in the eastern South China Sea, is capable of producing 55 million cubic feet of natural gas per day during test drilling, CNOOC said in a statement yesterday. (Hong Kong Economic Journal P. 9)
Dickson Concepts (113 HK) has posted a net profit of HK$81.16 million for the first half ended September 30, edging up 5.1 per cent compared with the corresponding period last year. Earnings per share were 21.8 HK cents. An interim dividend of 13 HK cents per share was declared. (Sing Tao Finance B3)
Fantasia (1777 HK) announced that it has signed a strategic cooperation agreement with China Construction Bank Corporation (0939) to form a long-term cooperation relationship. According to the agreement, CCB Shenzhen branch will provide a credit limit of 20 billion yuan in the coming five years to support Fantasia’s real property development. (Sing Tao Finance B4)
Greentown China (3900 HK), a Hong Kong-listed mainland property developer, announced that its accumulated sales have exceeded 50 billion yuan for the period ended December 8, surging 3.4 times compared with a year ago. (Sing Tao Finance B4)
Rumour has it that HSBC (5 HK) is set to buy the retail and SME businesses of Royal Bank of Scotland in India, China and Malaysia, according to Indian newspaper Mint. Spokesperson from Royal Bank of Scotland says the deal is in ongoing discussion and would make appropriate announcement in due course while HSBC’s spokesperson refused to comment. (Sing Tao Finance B3)
Mayer Holdings (1116 HK) has agreed to acquire Maxipetrol HK for HK$1.264 billion, the latter will be engaged in petroleum production in Argentina. The deal will be settled by promissory notes of HK$400 million and two batches of convertible bonds worth HK$864 million. (Sing Tao Finance B4)
Miramar Hotel & Investment (71 HK) has posted a net profit of HK$128 million for the first half ended September 30, climbing 5.8 per cent from a year earlier. An interim dividend of 13 HK cents per share was declared. (Sing Tao Finance B4)
Neo-Neon Holdings (1868 HK) announced it has gained approval from Taiwan regulatory to offer and list 140 million units of TDRs to raise up to HK$386 billion. Neo-Neon intends to use the net proceeds from the TDR issue for expansion of production capacity of LED-based lighting business in the PRC to cater for the rising demand of the LED-based lighting market.
(Hong Kong Economic Times A16)
New World Development (17 HK) has prepared around HK$7 billion to pay for government land premiums next year, said managing director Henry Cheng Kar-shun. The premium will be for a gross floor area of more than two million square feet, spreading mostly between sites in Sai Kung, Wu Kai Sha and Yuen Long. (Hong Kong Economic Journal P. 12)
Sino-Ocean Land (3377 HK) has agreed to buy the remaining 30 per cent stake in a property project in Hangzhou for 50 million yuan. Upon completion of the transaction, the property project will become indirectly wholly-owned by Sino-Ocean Land, which will give greater flexibility for the company to introduce any potential strategic partner to invest in the project, the company said in a statement. (Hong Kong Economic Journal P. 12)
Mainland developer SPG Land (337 HK) said contracted sales for the first 11 months have already hit 5.4 billion yuan, exceeding its revised target of 5.1 billion yuan for all of this year. The firm’s contracted sales last year totaled 1.8 billion yuan. The Shanghai-based firm has land reserves of 4.7 million square meters and it plans to expand its land bank by spending 10 billion yuan to acquire a further two million square meters next year. (Hong Kong Economic Journal P. 12)
Swire Pacific Ltd (19 HK), which may spin off its property unit Swire Properties Ltd next year, plans to hire Goldman Sachs Group Inc, HSBC Holdings Plc and Morgan Stanley to arrange the share sale that may raise HK$2.5 billion to HK$3 billion, sources said. (Hong Kong Economic Journal P. 12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, December 9, 2009
Hong Kong Stock Market Wrap Dec. 8th, 2009
Asia Standard International (129 HK) has recorded a net profit of HK$1.12 billion for the first half ended September 30, surging 11 times from a year earlier. Earnings per share were 96.9 HK cents. An interim dividend of 1 HK cent per share was declared. (Sing Tao Finance B4)
Cathay Pacific Airways (293 HK) announced that its 12,500 staff will receive an average 1.8 per cent pay increase next year. A special bonus of HK$8000 or half of the monthly income is distributed this month. (Hong Kong Economic Times A4)
China Corn Oil (1006 HK) booked HK$1.03 billion in margin financing subscriptions when it opened its retail book yesterday, 14 times its public offering size. (Hong Kong Economic Times A2)
Minsheng Bank (1998 HK) announced that its finance department, which will provide financial services to SME, is approved by the Shanghai regulatory body. The bank said the department will come into service soon. (Sing Tao Finance B4)
CLP Holdings (2 HK) announced a 2.6 per cent rise in electricity charges next year, after cutting its tariff 3 per cent this year. This is the first increase of basic electricity charges in ten years.
(Hong Kong Economic Journal P. 8)
Evergrande Real Estate (3333 HK) chairman Hui Kayan said the company’s accumulated sales have reached 26.27 billion yuan for the first eleven months, exceeding its initial annual sales target of 23.8 billion yuan. The company has set an initial sales target of 40 billion yuan to 45 billion yuan for 2010. (Sing Tao Finance B2)
Hong Kong Electric (6 HK) will freeze its tariff next year after a 5.9 per cent cut this year and will maintain electricity charges for both residential and commercial users for the whole next year. (Hong Kong Economic Journal P. 8)
Kaisa Group (1638 HK) rose 6.67 per cent in grey market yesterday to close at HK$3.68, according to Phillip Securities. Earnings per board lot of 1000 shares were HK$230. (Hong Kong Economic Times A2)
Li & Fung (494 HK) announced that it has signed a global sourcing deal in which it will become the exclusive sourcing agent for the retail firm’s major brands. The agreement covers the Bay, Zellers, Home Outfitters and Lord & Taylor and will take effect next year. (Sing Tao Finance B4)
New Times Energy (166 HK) has signed an MOU to acquire 90 per cent stake in three gold mines located in Hebei for HK$630 million. (Sing Tao Finance B4)
PCD Stores (331 HK), a mainland high-end department store, has frozen HK$13.5 billion as its public offering was about 43 times oversubscribed, a source close to the deal said. (Hong Kong Economic Times A2)
SJM (880 HK) announced that its newly built casino Oceanus, with 260 gambling tables and more than 560 slot machines, will be opened next Tuesday. According to Union Gaming Group, US$591 million has been invested in this project. (Hong Kong Economic Journal P. 14)
Shanghai Forte Land (2337 HK) announced that its contractual sales have reached 1.065 billion yuan in November, surging 3.39 times year-on-year. The contractual sales for the first eleven months amount to 7.57 billion yuan. (Sing Tao Finance B4)
Shanghai Industrial Holdings (363 HK) has agreed to purchase two residential land sites in Shanghai’s Qingpu district and a toll road Hu-Yu Expressway from its parent Shanghai Industrial Investment for HK$2.765 billion. (Sing Tao Finance B4)
Shengli Oil & Gas Pipe (1080 HK) plans to list on the Hong Kong bourse at between HK$1.81 and HK$2.69 to seek HK$1.94 billion. The minimum entry fee is HK$4075.71 per board lot of 1500 shares. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Cathay Pacific Airways (293 HK) announced that its 12,500 staff will receive an average 1.8 per cent pay increase next year. A special bonus of HK$8000 or half of the monthly income is distributed this month. (Hong Kong Economic Times A4)
China Corn Oil (1006 HK) booked HK$1.03 billion in margin financing subscriptions when it opened its retail book yesterday, 14 times its public offering size. (Hong Kong Economic Times A2)
Minsheng Bank (1998 HK) announced that its finance department, which will provide financial services to SME, is approved by the Shanghai regulatory body. The bank said the department will come into service soon. (Sing Tao Finance B4)
CLP Holdings (2 HK) announced a 2.6 per cent rise in electricity charges next year, after cutting its tariff 3 per cent this year. This is the first increase of basic electricity charges in ten years.
(Hong Kong Economic Journal P. 8)
Evergrande Real Estate (3333 HK) chairman Hui Kayan said the company’s accumulated sales have reached 26.27 billion yuan for the first eleven months, exceeding its initial annual sales target of 23.8 billion yuan. The company has set an initial sales target of 40 billion yuan to 45 billion yuan for 2010. (Sing Tao Finance B2)
Hong Kong Electric (6 HK) will freeze its tariff next year after a 5.9 per cent cut this year and will maintain electricity charges for both residential and commercial users for the whole next year. (Hong Kong Economic Journal P. 8)
Kaisa Group (1638 HK) rose 6.67 per cent in grey market yesterday to close at HK$3.68, according to Phillip Securities. Earnings per board lot of 1000 shares were HK$230. (Hong Kong Economic Times A2)
Li & Fung (494 HK) announced that it has signed a global sourcing deal in which it will become the exclusive sourcing agent for the retail firm’s major brands. The agreement covers the Bay, Zellers, Home Outfitters and Lord & Taylor and will take effect next year. (Sing Tao Finance B4)
New Times Energy (166 HK) has signed an MOU to acquire 90 per cent stake in three gold mines located in Hebei for HK$630 million. (Sing Tao Finance B4)
PCD Stores (331 HK), a mainland high-end department store, has frozen HK$13.5 billion as its public offering was about 43 times oversubscribed, a source close to the deal said. (Hong Kong Economic Times A2)
SJM (880 HK) announced that its newly built casino Oceanus, with 260 gambling tables and more than 560 slot machines, will be opened next Tuesday. According to Union Gaming Group, US$591 million has been invested in this project. (Hong Kong Economic Journal P. 14)
Shanghai Forte Land (2337 HK) announced that its contractual sales have reached 1.065 billion yuan in November, surging 3.39 times year-on-year. The contractual sales for the first eleven months amount to 7.57 billion yuan. (Sing Tao Finance B4)
Shanghai Industrial Holdings (363 HK) has agreed to purchase two residential land sites in Shanghai’s Qingpu district and a toll road Hu-Yu Expressway from its parent Shanghai Industrial Investment for HK$2.765 billion. (Sing Tao Finance B4)
Shengli Oil & Gas Pipe (1080 HK) plans to list on the Hong Kong bourse at between HK$1.81 and HK$2.69 to seek HK$1.94 billion. The minimum entry fee is HK$4075.71 per board lot of 1500 shares. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, December 8, 2009
Hong Kong Stock Market Wrap Dec. 7th, 2009
IPO of indebted Russian aluminum giant UC Rusal, which is planned for the end of this year, may be delayed until the first quarter of 2010 as the Hong Kong stock exchange’s listing committee failed to decide whether to allow the deal to go ahead, according to people familiar with the matter. (Hong Kong Economic Journal P. 2)
The Bank of Communications (3328 HK) said it aimed to set up a branch in Taiwan in order to facilitate trade between the two. The lender said it has no plan to purchase stake in Taiwan banks at this stage. (Sing Tai Finance B3)
Bio-Dynamic group (39 HK) said it is working on alcohol production at this stage and plans to develop downstream beverages and forages. Its newly-built wine factory in Harbin has completed its production test and has 60,000 tonnes of production. (Sing Tai Finance B3)
China Corn Oil (1006 HK), mainland’s largest edible corn oil producer, plans to launch its initial public offering on the Hong Kong bourse to raise HK$526 million. The offering price is set at between HK$2.57 to HK$3.85 per share. The minimum entry fee is HK$3880. (Sing Tao Finance B1)
China Huiyuan Juice (1886 HK) announced that it has no negotiations or agreements with Uni-President Enterprises Corporation on neither increase of stakes nor takeover. China Huiyuan Juice rose 19 per cent following a newspaper reporting that the Taiwan-listed Uni-President may take it over. (Sing Tao Finance B2)
China Motor (26 HK) Bus’s proposal to turn its Chai Wan former bus factory into residence was not supported by regulatory due to height restriction. (Hong Kong Economic Journal P. 8)
Hong Kong’s China Strategic Holdings Ltd. (235 HK) and Primus Financial Holdings Ltd. plan to resubmit their application to acquire American International Group Inc.’s (AIG) Taiwan life insurance unit before the end of the year, China Strategic Chief Executive Raymond Or said. China Strategic plans to sell a 30 per cent stake in Nan Shan to Chinatrust in exchange for a 9.95 per cent stake in Chinatrust after Taiwan approves the consortium’s acquisition of Nan Shan. (Hong Kong Economic Journal P. 6)
Fufeng Group (546 HK) announced that 29 shareholders (excluding chairman) plan to sell 62.23 million old shares of Fufeng Group to public investors. Fufeng Group dropped 3.54 per cent to HK$4.90 yesterday. (Sing Tao Finance B2)
Geely (175 HK) plans to raise its sales target by 33 per cent to 400,000 vehicles in 2010. The producer also plans to boost capital spending to 1 billion yuan next year for expansion of production and development of new products. (Sing Tao Finance B2)
Hong Kong Health Check (397 HK) and Laboratory, which will be renamed to China Gogreen Assets Investment Limited soon, has agreed to form a joint venture with Zhengzhou High-Tech Start-up Investment Co., Ltd to develop thin film solar PV business. (Sing Tao Finance B3)
Mainland sportswear brand Li Ning (2331 HK) said it plans to open its first store overseas in Portland of the United States in January in 2010 to prepare for its overseas expansion five years later. (Sing Tao Finance B2)
PolyTec Asset Holdings (208 HK) has spent US$1 million to purchase a call option that has the right to acquire a mine in Kazakhstan for US$139.6 million. (Sing Tai Finance B2)
Sino-Ocean Land (3377 HK) has successfully bidden a state-owned construction land use right of a land in Beijing with a total gross floor area of 268,000 square meters for residential use at a consideration of 4,830 million yuan in a public bidding. (Hong Kong Economic Journal P. 8)
Texwinca (321 HK) has recorded a net profit of HK$480 million for the first half ended September 30, edging up 7.16 per cent from a year ago. Earnings per share were 36.2 HK cents. An interim dividend of 22 HK cents per share was declared. (Sing Tao Finance B2)
Zijin Mining’s (2899 HK) wholly-owned subsidiary South West Company has agreed to buy 20 per cent stake in Yuanyang Huaxi, another subsidiary of the company, for 162 million yuan. South West Company will hold 30 per cent stake in Yuanyang Huaxi upon the deal. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
The Bank of Communications (3328 HK) said it aimed to set up a branch in Taiwan in order to facilitate trade between the two. The lender said it has no plan to purchase stake in Taiwan banks at this stage. (Sing Tai Finance B3)
Bio-Dynamic group (39 HK) said it is working on alcohol production at this stage and plans to develop downstream beverages and forages. Its newly-built wine factory in Harbin has completed its production test and has 60,000 tonnes of production. (Sing Tai Finance B3)
China Corn Oil (1006 HK), mainland’s largest edible corn oil producer, plans to launch its initial public offering on the Hong Kong bourse to raise HK$526 million. The offering price is set at between HK$2.57 to HK$3.85 per share. The minimum entry fee is HK$3880. (Sing Tao Finance B1)
China Huiyuan Juice (1886 HK) announced that it has no negotiations or agreements with Uni-President Enterprises Corporation on neither increase of stakes nor takeover. China Huiyuan Juice rose 19 per cent following a newspaper reporting that the Taiwan-listed Uni-President may take it over. (Sing Tao Finance B2)
China Motor (26 HK) Bus’s proposal to turn its Chai Wan former bus factory into residence was not supported by regulatory due to height restriction. (Hong Kong Economic Journal P. 8)
Hong Kong’s China Strategic Holdings Ltd. (235 HK) and Primus Financial Holdings Ltd. plan to resubmit their application to acquire American International Group Inc.’s (AIG) Taiwan life insurance unit before the end of the year, China Strategic Chief Executive Raymond Or said. China Strategic plans to sell a 30 per cent stake in Nan Shan to Chinatrust in exchange for a 9.95 per cent stake in Chinatrust after Taiwan approves the consortium’s acquisition of Nan Shan. (Hong Kong Economic Journal P. 6)
Fufeng Group (546 HK) announced that 29 shareholders (excluding chairman) plan to sell 62.23 million old shares of Fufeng Group to public investors. Fufeng Group dropped 3.54 per cent to HK$4.90 yesterday. (Sing Tao Finance B2)
Geely (175 HK) plans to raise its sales target by 33 per cent to 400,000 vehicles in 2010. The producer also plans to boost capital spending to 1 billion yuan next year for expansion of production and development of new products. (Sing Tao Finance B2)
Hong Kong Health Check (397 HK) and Laboratory, which will be renamed to China Gogreen Assets Investment Limited soon, has agreed to form a joint venture with Zhengzhou High-Tech Start-up Investment Co., Ltd to develop thin film solar PV business. (Sing Tao Finance B3)
Mainland sportswear brand Li Ning (2331 HK) said it plans to open its first store overseas in Portland of the United States in January in 2010 to prepare for its overseas expansion five years later. (Sing Tao Finance B2)
PolyTec Asset Holdings (208 HK) has spent US$1 million to purchase a call option that has the right to acquire a mine in Kazakhstan for US$139.6 million. (Sing Tai Finance B2)
Sino-Ocean Land (3377 HK) has successfully bidden a state-owned construction land use right of a land in Beijing with a total gross floor area of 268,000 square meters for residential use at a consideration of 4,830 million yuan in a public bidding. (Hong Kong Economic Journal P. 8)
Texwinca (321 HK) has recorded a net profit of HK$480 million for the first half ended September 30, edging up 7.16 per cent from a year ago. Earnings per share were 36.2 HK cents. An interim dividend of 22 HK cents per share was declared. (Sing Tao Finance B2)
Zijin Mining’s (2899 HK) wholly-owned subsidiary South West Company has agreed to buy 20 per cent stake in Yuanyang Huaxi, another subsidiary of the company, for 162 million yuan. South West Company will hold 30 per cent stake in Yuanyang Huaxi upon the deal. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, December 7, 2009
Hong Kong Stock Market Wrap Dec. 4th, 2009
Sunac China Holdings (1918 HK), a land developer found in Tianjian, plans to float 600 million new shares from HK$2.90 to HK$3.70 each through its initial public offering on the Hong Kong bourse to raise HK$2.22 billion. The minimum entry fee for one board lot of 1,000 shares is HK$3737. (Sing Tao Finance B14)
Fufeng Group (546 HK) plans to place 62 million shares at a price between HK$4.5 and HK$4.7 per share, a discount between 11.42 per cent to 7.48 per cent to the closing price yesterday. The company is seeking HK$292 million of financing through the share placement. (Hong Kong Economic Journal P. 4)
Hanison Construction (896 HK) has recorded a profit of HK$49 million for the six months ended September 30, compared with a loss of HK$24.68 million as compared with prior year. Earnings per share were 11.2 HK cents. An interim dividend of 1.5 HK cents per share was declared. (Sing Tao Finance B3)
HKR International (480 HK) has posted an interim profit of HK$658 million for the period ended September 30, a 1.37 times year-on-year increase. Earnings per share were HK$0.48. An interim dividend of 0.2 HK cents was declared. (Hong Kong Economic Journal P. 4)
Johnson Electric (179 HK) has posted an interim profit of US$14.61 million for the period ended September 30, plunging 68 per cent compared with last year.
Earnings per share were US$0.4. No interim dividend was declared. (Sing Tao Finance B3)
Joyce Boutique Holdings Limited (647 HK) has posted a profit of HK$4 million for the six months ended September 30, up 155 per cent compared to the previous corresponding period. Earnings per share were 0.2 HK cent. No interim dividend was declared. (Sing Tao Finance B3)
Real Gold Mining (246 HK) announced that the third-phase ore-processing capacity expansion of both the Shirengou-Nantaizi processing plant and Luotuochang processing plant owned by the subsidiaries of the company were completed. The total daily production capacity of the Shirengou-Nantaizi processing plant has increased to 1,480 tonnes, representing an increase of approximately 49 per cent as compared to the pre-expansion production capacity. (Sing Tao Finance B3)
Sandmartin International (482 HK) has gained an approval from Taiwan regulatory to issue 148 million units of TDR priced ranging between NT$7.3 and NT$9.3 (HK$1.76 to HK$2.24) each. Application list for subscription by the public in Taiwan will open on December 8. Dealings in the Taiwan on the bourse are scheduled on December 18. Sandmartin intends to use the net proceeds from the TDR issue for general working capital purpose. (Hong Kong Economic Journal P. 4)
China’s Yanzhou Coal Mining Co Ltd (1171 HK) has obtained an official approval to take over Australian coal mining company Felix Resources. The company said it will have an approved coal reserve of 1.5 billion tons in Australia after the takeover. The deal, involving 3.3 billion Australian dollars ($3 billion), would be the largest of its kind between Chinese and Australian firms. (Sing Tao Finance B3)
China Forestry (930 HK) plans to raise its targeted timber volume by 20 per cent next year by acquiring 120,000 hectares timberland in Yunnan and Sichuan. The company plans to acquire timberland in Jiangxi and Fujian in three to five years. (Hong Kong Economic Times A16)
China Jin Hui Mining Corporation (462 HK), which will rename to Natural Dairy (NZ) Holdings Limited soon, plans to raise HK$1 billion to develop its dairy business by placing HK$951 million worth convertible bonds to Sun Hung Kai Investment. (Hong Kong Economic Times A16)
CPIC (2601 HK) plans to offers 861 million H shares at between HK$26.8 and HK$30.1 each to raise as much as HK$25.93 billion. Entry fee for one board lot of 200 shares is HK$6080.74. CPIC starts its roadshow today. (Hong Kong Economic Journal P.2)
Guangzhou R&F Properties (2777HK) announced that it has met its contracted sales target of 23 billion yuan this year. It has raised its 2010 contracted sales target to 30 billion yuan, a 30 per cent growth of that this year. (Hong Kong Economic Times A16)
Hidili Industry International Development (1939 HK) announced that it has agreed to acquire a coal mine and related assets in Yunnan for HK$397 million. (Hong Kong Economic Times A16)
Zhaojin Mining (1818 HK) announced that it has signed a strategic cooperation framework agreement with Chongli in Hebei that they will jointly utilize, develop gold minerals and associated resources in Chongli and establish a gold mineral company to acquire the remaining mining rights. (Hong Kong Economic Times A16)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Fufeng Group (546 HK) plans to place 62 million shares at a price between HK$4.5 and HK$4.7 per share, a discount between 11.42 per cent to 7.48 per cent to the closing price yesterday. The company is seeking HK$292 million of financing through the share placement. (Hong Kong Economic Journal P. 4)
Hanison Construction (896 HK) has recorded a profit of HK$49 million for the six months ended September 30, compared with a loss of HK$24.68 million as compared with prior year. Earnings per share were 11.2 HK cents. An interim dividend of 1.5 HK cents per share was declared. (Sing Tao Finance B3)
HKR International (480 HK) has posted an interim profit of HK$658 million for the period ended September 30, a 1.37 times year-on-year increase. Earnings per share were HK$0.48. An interim dividend of 0.2 HK cents was declared. (Hong Kong Economic Journal P. 4)
Johnson Electric (179 HK) has posted an interim profit of US$14.61 million for the period ended September 30, plunging 68 per cent compared with last year.
Earnings per share were US$0.4. No interim dividend was declared. (Sing Tao Finance B3)
Joyce Boutique Holdings Limited (647 HK) has posted a profit of HK$4 million for the six months ended September 30, up 155 per cent compared to the previous corresponding period. Earnings per share were 0.2 HK cent. No interim dividend was declared. (Sing Tao Finance B3)
Real Gold Mining (246 HK) announced that the third-phase ore-processing capacity expansion of both the Shirengou-Nantaizi processing plant and Luotuochang processing plant owned by the subsidiaries of the company were completed. The total daily production capacity of the Shirengou-Nantaizi processing plant has increased to 1,480 tonnes, representing an increase of approximately 49 per cent as compared to the pre-expansion production capacity. (Sing Tao Finance B3)
Sandmartin International (482 HK) has gained an approval from Taiwan regulatory to issue 148 million units of TDR priced ranging between NT$7.3 and NT$9.3 (HK$1.76 to HK$2.24) each. Application list for subscription by the public in Taiwan will open on December 8. Dealings in the Taiwan on the bourse are scheduled on December 18. Sandmartin intends to use the net proceeds from the TDR issue for general working capital purpose. (Hong Kong Economic Journal P. 4)
China’s Yanzhou Coal Mining Co Ltd (1171 HK) has obtained an official approval to take over Australian coal mining company Felix Resources. The company said it will have an approved coal reserve of 1.5 billion tons in Australia after the takeover. The deal, involving 3.3 billion Australian dollars ($3 billion), would be the largest of its kind between Chinese and Australian firms. (Sing Tao Finance B3)
China Forestry (930 HK) plans to raise its targeted timber volume by 20 per cent next year by acquiring 120,000 hectares timberland in Yunnan and Sichuan. The company plans to acquire timberland in Jiangxi and Fujian in three to five years. (Hong Kong Economic Times A16)
China Jin Hui Mining Corporation (462 HK), which will rename to Natural Dairy (NZ) Holdings Limited soon, plans to raise HK$1 billion to develop its dairy business by placing HK$951 million worth convertible bonds to Sun Hung Kai Investment. (Hong Kong Economic Times A16)
CPIC (2601 HK) plans to offers 861 million H shares at between HK$26.8 and HK$30.1 each to raise as much as HK$25.93 billion. Entry fee for one board lot of 200 shares is HK$6080.74. CPIC starts its roadshow today. (Hong Kong Economic Journal P.2)
Guangzhou R&F Properties (2777HK) announced that it has met its contracted sales target of 23 billion yuan this year. It has raised its 2010 contracted sales target to 30 billion yuan, a 30 per cent growth of that this year. (Hong Kong Economic Times A16)
Hidili Industry International Development (1939 HK) announced that it has agreed to acquire a coal mine and related assets in Yunnan for HK$397 million. (Hong Kong Economic Times A16)
Zhaojin Mining (1818 HK) announced that it has signed a strategic cooperation framework agreement with Chongli in Hebei that they will jointly utilize, develop gold minerals and associated resources in Chongli and establish a gold mineral company to acquire the remaining mining rights. (Hong Kong Economic Times A16)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, December 4, 2009
Hong Kong Stock Market Wrap Dec. 3rd, 2009
IPO: American International Group aims to spin off its Asian life insurance arm American International Assurance Company in Hong Kong. Market sources estimate AIA could raise at least HK$30 billion from the offer in the second quarter of 2010. Morgan Stanley and Deutsche Bank are the sponsors for the potential deal. (Hong Kong Economic Journal P. 4) Russian aluminium group United Company RUSAL has reached agreement to refinance US$16.8 billion (HK$131 billion) of loans in Russia’s biggest ever debt restructuring and can now proceed with IPO in Hong Kong. (Hong Kong Economic Journal P. 4)
Bank of China (3988 HK) has signed a strategic cooperation framework agreement with BYD (1211) that it will give a 15 billion yuan in credit to support BYD’s production of three main pillars and development of new energy technology. (Sing Tao Finance B3)
Brilliance China Automotive’s (1114 HK) shareholder, Huachen Automotive Group, has sold 500 million secondary shares at HK$2.25 per share forHK$1.125 billion. Huachen now holds 45.35 per cent shares of Brilliance China Automotive. (Sing Tao Finance B2)
China CITIC Bank’s (998 HK) substantial shareholder Spanish bank BBVA has increased its stake in the lender to 15 per cent from 10.07 per cent by buying about 1.924 billion CITIC shares at HK$6.45 per share. (Sing Tao Finance B3)
China-HongKong (1123 HK) Photo Products Holdings has recorded a net profit of HK$25.77 million for the six months ended September 30. Earnings per share were 2.21 HK cents. An interim dividend of 1 HK cents per share and a special dividend of 1.5 HK cents per share were declared. (Sing Tao Finance B3)
China Mandarin Holdings (9 HK) has agreed to sell its subsidiary for HK$23 million. The subsidiary engages in hotel operation and related business and holds 37.5 per cent stakes in Jiejiang Mandarin International Development Company Limited. (Sing Tao Finance B3)
China Molybdenum (3993 HK) has agreed to sell 50 per cent stake in Luoyang High Tech Molybdenum & Tungsten Materials (Luoyang High Tech) for no more than HK$500 million to Molymet Corporation, a producer of molybdenum products and its by-products. (Hong Kong Economic Times A16)
China Water Affairs Group (855 HK) has posted a net profit of HK$226 million for the six months ended September 30, against a net loss of HK$180 million last year. The company proposes an interim dividend of 2 HK cents per share. (Sing Tao Finance B3)
Chuang's China Investments (298 HK) has recorded a net profit of HK$12.7 million for the first half ended September 30, rocketing 87 per cent compared with a year ago. No interim dividend was declared. (Sing Tao Finance B3)
Dah Sing Banking’s (2356 HK) credit rating was downgraded by Standard & Poor's Ratings Services with a "C+" on its financial strength. (Hong Kong Economic Journal P. 8)
Easyknit International (1218 HK) said it has sold all its 0.915 million shares of China Minsheng Banking (1988) at a closing price of HK$8.78 each. The company did not specify the consideration of the disposal. (SingTao Finance B3)
Shares of Futong Technology (465 HK) rose yesterday as much as 17 per cent before closing up at HK$1.9 in the grey market. Investors posted a paper gain of HK$540 per board lot of 2,000 shares. (Hong Kong Economic Journal P. 4)
Kin Yat Holdings (638 HK) has posted a net profit of HK$90.04 million for the first half ended September 30, surging 45 per cent year-on-year. Earnings per share were 22.12 HK cents. An interim dividend of 5 HK cents per share was declared. (Sing Tao Finance B3)
Nine Dragons Paper (2689 HK) said it has no plan for capitalization after the earlier share placement. The group expects its production to exceed 10 million tonnes next year. (Hong Kong Economic Times A16)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of China (3988 HK) has signed a strategic cooperation framework agreement with BYD (1211) that it will give a 15 billion yuan in credit to support BYD’s production of three main pillars and development of new energy technology. (Sing Tao Finance B3)
Brilliance China Automotive’s (1114 HK) shareholder, Huachen Automotive Group, has sold 500 million secondary shares at HK$2.25 per share forHK$1.125 billion. Huachen now holds 45.35 per cent shares of Brilliance China Automotive. (Sing Tao Finance B2)
China CITIC Bank’s (998 HK) substantial shareholder Spanish bank BBVA has increased its stake in the lender to 15 per cent from 10.07 per cent by buying about 1.924 billion CITIC shares at HK$6.45 per share. (Sing Tao Finance B3)
China-HongKong (1123 HK) Photo Products Holdings has recorded a net profit of HK$25.77 million for the six months ended September 30. Earnings per share were 2.21 HK cents. An interim dividend of 1 HK cents per share and a special dividend of 1.5 HK cents per share were declared. (Sing Tao Finance B3)
China Mandarin Holdings (9 HK) has agreed to sell its subsidiary for HK$23 million. The subsidiary engages in hotel operation and related business and holds 37.5 per cent stakes in Jiejiang Mandarin International Development Company Limited. (Sing Tao Finance B3)
China Molybdenum (3993 HK) has agreed to sell 50 per cent stake in Luoyang High Tech Molybdenum & Tungsten Materials (Luoyang High Tech) for no more than HK$500 million to Molymet Corporation, a producer of molybdenum products and its by-products. (Hong Kong Economic Times A16)
China Water Affairs Group (855 HK) has posted a net profit of HK$226 million for the six months ended September 30, against a net loss of HK$180 million last year. The company proposes an interim dividend of 2 HK cents per share. (Sing Tao Finance B3)
Chuang's China Investments (298 HK) has recorded a net profit of HK$12.7 million for the first half ended September 30, rocketing 87 per cent compared with a year ago. No interim dividend was declared. (Sing Tao Finance B3)
Dah Sing Banking’s (2356 HK) credit rating was downgraded by Standard & Poor's Ratings Services with a "C+" on its financial strength. (Hong Kong Economic Journal P. 8)
Easyknit International (1218 HK) said it has sold all its 0.915 million shares of China Minsheng Banking (1988) at a closing price of HK$8.78 each. The company did not specify the consideration of the disposal. (SingTao Finance B3)
Shares of Futong Technology (465 HK) rose yesterday as much as 17 per cent before closing up at HK$1.9 in the grey market. Investors posted a paper gain of HK$540 per board lot of 2,000 shares. (Hong Kong Economic Journal P. 4)
Kin Yat Holdings (638 HK) has posted a net profit of HK$90.04 million for the first half ended September 30, surging 45 per cent year-on-year. Earnings per share were 22.12 HK cents. An interim dividend of 5 HK cents per share was declared. (Sing Tao Finance B3)
Nine Dragons Paper (2689 HK) said it has no plan for capitalization after the earlier share placement. The group expects its production to exceed 10 million tonnes next year. (Hong Kong Economic Times A16)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, December 3, 2009
Hong Kong Stock Market Wrap Dec. 2nd, 2009
C C Land Holdings (1224 HK) announced that it has agreed to sell all its holdings of a Chengdu project for 234 million yuan. It is estimated the deal could fetch a profit of 104 million yuan. (Sing Tao Finance B4)
China Everbright International (257 HK) has signed a cooperation framework agreement with Sugian city in Jiangsu province to build an environmental protection industry park for 1.6 billion yuan within 3 to 5 years. (Sing Tao Finance B4)
Shares of China Forestry (930HK) rose yesterday as much as 8.7 per cent before closing up 5.31 per cent at HK$2.18 in the grey market, according to Phillip Securities. Investors posted a paper gain of HK$220 per board lot of 2,000 shares. (Hong Kong Economic Journal P. 4)
China Shenhua Energy (1088 HK) announced on November 27, its No.4 Power Generation Super-critical Unit of Hebei Guohua Cangdong Power Company Limited with capacity of 660MW has successfully passed 168 hours trial operation and was put into commercial operation simultaneously. (Hong Kong Economic Journal P. 8)
China Strategic (235 HK) and Primus Financial Holdings Ltd are in talks with Taiwan regulators to clarify their concerns on Nan Shan acquisition and said will resubmit an application again next week. (Sing Tao Finance B3)
Emperor International Holdings (163 HK) has posted a net profit of HK$1.32 billion for the first half ended September 30, against a net loss of HK$840 million a year ago. Earnings per share were 73 HK cents. An interim dividend of 4.8 HK cents per share was declared. Meanwhile, its sister company Emperor Entertainment Hotel Limited (0296) has recorded a net profit of HK$51.28 million for the first half, nearly three times more than a year earlier. Earnings per share were 5 HK cents. An interim dividend of 2.5 HK cents per share was declared. (Sing Tao Finance B4)
Fushan International (639 HK) announced yesterday it has acquired 18.7 per cent stake in an Australian iron company Mount Gibson from Shougang Concord International (0697) and APAC Resources (1104). (Hong Kong Economic Journal P. 8)
Huabao International Holdings (336 HK) has recorded an interim net profit of HK$611 million, jumping 18 per cent year-on-year. An interim dividend of 6 HK cents per share and a special dividend of 2.8 HK cents per share were declared. (Sing Tao Finance B4)
Huaneng Power International Inc (902 HK) said the Chinese government has approved its plan to build the largest coal-fired power plant in Xinjiang. The plant will require a total investment of 4.6 billion yuan. (Hong Kong Economic Journal P. 8)
HSBC (5 HK) announced yesterday that it has completed the first cross border settlement in yuan, with cooperation of its strategic partner Bank of Communications (3328). (Hong Kong Economic Journal P. 6)
Rumour has it that ICBC (1398 HK) is in talks to buy 20 per cent stake in Taiwan’s Cathay Financial, the top local listed financial holding group, for as much as US$3 billion (HK$23.25 billion). ICBC and Cathay Financial declined to comment on the rumour. (Sing Tao Finance B3)
Listing candidate PCD’s (331 HK) retail book opens today and its shares will be priced between HK$1.65 and HK$2 each. The company aims to raise as much as HK$3 billion in its initial public offering. The minimum spending for a board lot of 2,000 shares is HK$4,040.36. (Hong Kong Economic Journal P. 4)
Silver Grant International (171 HK) plans to shift its investment focus to energy-based and hopes to acquire a coal mine in Shanxi at between 1 billion yuan to 1.5 billion yuan within two months’ time. (Hong Kong Economic Times A12)
Skyworth Digital Holdings (751 HK), a mainland television maker, has posted a net profit of HK$609 million for the first half ended September 30, surging 530 per cent from a year ago. An interim dividend of 8 HK cents per share was declared. (Sing Tao Finance B4)
Zhaojin Mining Industry (1818 HK) announced that it has bided a 100 per cent stake in Zhaoyuan Canzhuang Gold Mine at a price of no more than 426 million yuan.
(Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Everbright International (257 HK) has signed a cooperation framework agreement with Sugian city in Jiangsu province to build an environmental protection industry park for 1.6 billion yuan within 3 to 5 years. (Sing Tao Finance B4)
Shares of China Forestry (930HK) rose yesterday as much as 8.7 per cent before closing up 5.31 per cent at HK$2.18 in the grey market, according to Phillip Securities. Investors posted a paper gain of HK$220 per board lot of 2,000 shares. (Hong Kong Economic Journal P. 4)
China Shenhua Energy (1088 HK) announced on November 27, its No.4 Power Generation Super-critical Unit of Hebei Guohua Cangdong Power Company Limited with capacity of 660MW has successfully passed 168 hours trial operation and was put into commercial operation simultaneously. (Hong Kong Economic Journal P. 8)
China Strategic (235 HK) and Primus Financial Holdings Ltd are in talks with Taiwan regulators to clarify their concerns on Nan Shan acquisition and said will resubmit an application again next week. (Sing Tao Finance B3)
Emperor International Holdings (163 HK) has posted a net profit of HK$1.32 billion for the first half ended September 30, against a net loss of HK$840 million a year ago. Earnings per share were 73 HK cents. An interim dividend of 4.8 HK cents per share was declared. Meanwhile, its sister company Emperor Entertainment Hotel Limited (0296) has recorded a net profit of HK$51.28 million for the first half, nearly three times more than a year earlier. Earnings per share were 5 HK cents. An interim dividend of 2.5 HK cents per share was declared. (Sing Tao Finance B4)
Fushan International (639 HK) announced yesterday it has acquired 18.7 per cent stake in an Australian iron company Mount Gibson from Shougang Concord International (0697) and APAC Resources (1104). (Hong Kong Economic Journal P. 8)
Huabao International Holdings (336 HK) has recorded an interim net profit of HK$611 million, jumping 18 per cent year-on-year. An interim dividend of 6 HK cents per share and a special dividend of 2.8 HK cents per share were declared. (Sing Tao Finance B4)
Huaneng Power International Inc (902 HK) said the Chinese government has approved its plan to build the largest coal-fired power plant in Xinjiang. The plant will require a total investment of 4.6 billion yuan. (Hong Kong Economic Journal P. 8)
HSBC (5 HK) announced yesterday that it has completed the first cross border settlement in yuan, with cooperation of its strategic partner Bank of Communications (3328). (Hong Kong Economic Journal P. 6)
Rumour has it that ICBC (1398 HK) is in talks to buy 20 per cent stake in Taiwan’s Cathay Financial, the top local listed financial holding group, for as much as US$3 billion (HK$23.25 billion). ICBC and Cathay Financial declined to comment on the rumour. (Sing Tao Finance B3)
Listing candidate PCD’s (331 HK) retail book opens today and its shares will be priced between HK$1.65 and HK$2 each. The company aims to raise as much as HK$3 billion in its initial public offering. The minimum spending for a board lot of 2,000 shares is HK$4,040.36. (Hong Kong Economic Journal P. 4)
Silver Grant International (171 HK) plans to shift its investment focus to energy-based and hopes to acquire a coal mine in Shanxi at between 1 billion yuan to 1.5 billion yuan within two months’ time. (Hong Kong Economic Times A12)
Skyworth Digital Holdings (751 HK), a mainland television maker, has posted a net profit of HK$609 million for the first half ended September 30, surging 530 per cent from a year ago. An interim dividend of 8 HK cents per share was declared. (Sing Tao Finance B4)
Zhaojin Mining Industry (1818 HK) announced that it has bided a 100 per cent stake in Zhaoyuan Canzhuang Gold Mine at a price of no more than 426 million yuan.
(Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, December 2, 2009
Hong Kong Stock Market Wrap Dec. 1st, 2009
Shares in Air China (753 HK), the world’s most valuable airline, jumped as much as 10 per cent to a 19-month high yesterday, boosted by speculation that the company would take over Shenzhen Airlines. (Hong Kong Economic Journal P. 4)
Bright Prosperous (753 HK) announced that it has signed an exclusive lumbering contract with a Brazil hydroelectric plant Santo Antonio. The company will have to lumber 200,000 hectares within five years. It is expected to produce 45 million cube meters commercial timbers for domestic sales and exports. (Sing Tao Finance B3)
China Infrastructure Investment (600 HK) has agreed to sell the entire stakes in Pearl Oriental Macau Limited and the shareholder’s loans for HK$400 million. Trading resumes today. (Sing Tao Finance B3)
Country Garden Holdings (2007 HK) has exceeded its annual sales target of 19 billion yuan with 21.2 billion yuan for the period ended November. (Hong Kong Economic Times A12)
Geely Automobile (175 HK), the Chinese car maker picked as preferred bidder for Ford
Motor’s Volvo unit, is seeking at least US$1 billion in loans from mainland banks including Bank of China (3988), China Construction Bank (939) and the Export-Import Bank of China to finance its US$1.8 billion bid, sources said yesterday. Geely spokesman declined to comment on the loan plans. (Sing Tao Finance B3)
Global Bio-Chem Technology (809 HK) expects to record a substantial profit decline as compared with last year, reflecting that the company is adversely affected by the poor economy. (Sing Tao Finance B3)
Global Sweeteners (3889 HK) announced that an observable decline in its net profit is expected on poor economic environment. (Sing Tao Finance B3)
R&F Properties (2777 HK) has reached 98.4 per cent of its annual sales target with 22.6 billion yuan recorded for the period ended November, surging 58 per cent year-on-year. (Hong Kong Economic Times A12)
Henderson Land Development (12 HK) expects to sell at least 7 billion to 8 billion yuan worth of residential property next year on the mainland. Henderson is developing about 10 projects on the mainland while it owns a gross floor area of about 130 million square metres there at present. (Sing Tao Finance B2)
HSBC Insurance Brokers Holdings Limited, an indirectly wholly owned subsidiary of HSBC (5 HK), has agreed to sell HSBC Actuaries and Consultants Limited (HACL) to Jardine Lloyd Thompson Group plc for £27.25 million (HK$ 350 million). (Sing Tao Finance B3)
Industrial and Commercial Bank (1398 HK) and The Bank of East Asia (0023) have agreed to extend the longstop date for completion of certain transactions between them. Referring to its proposed acquisition of 70 per cent stake in The Bank of East Asia (Canada) and disposal of 75 per cent stake in ICEA Finance Holdings Limited, ICBC announced that it has obtained the approvals from China regulatory for the acquisition and the disposal. (Hong Kong Economic Journal P. 4)
PCD Stores (331 HK), a mainland department-store operator, plans to list on the Hong Kong bourse to raise as much as HK$3 billion. The company offers 1.5 billion shares at between HK$1.65 and HK$2.00. Entry fee of the IPO will be HK$4040, with 2000 shares per board lot. (Sing Tao Finance B2)
South African health insurance firm Discovery Holdings Ltd has bought almost 25 per cent of Ping An Health Insurance Co (2318 HK) to tap fast-expanding market. (Hong Kong Economic Journal P. 4)
NWS Holdings (0659) has agreed to sell 53 per cent stake in Taifook to Haitong, the second largest brokerage on the mainland by market assets. Taifook (665 HK) would become a subsidiary of Haitong upon the deal. (Hong Kong Economic Journal P. 4)
Tingyi Holdings (322 HK) announced yesterday it has gained approval from Taiwan regulatory to issue 380 million units of TDR in Taiwan. The TDR will be launched on December 16. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bright Prosperous (753 HK) announced that it has signed an exclusive lumbering contract with a Brazil hydroelectric plant Santo Antonio. The company will have to lumber 200,000 hectares within five years. It is expected to produce 45 million cube meters commercial timbers for domestic sales and exports. (Sing Tao Finance B3)
China Infrastructure Investment (600 HK) has agreed to sell the entire stakes in Pearl Oriental Macau Limited and the shareholder’s loans for HK$400 million. Trading resumes today. (Sing Tao Finance B3)
Country Garden Holdings (2007 HK) has exceeded its annual sales target of 19 billion yuan with 21.2 billion yuan for the period ended November. (Hong Kong Economic Times A12)
Geely Automobile (175 HK), the Chinese car maker picked as preferred bidder for Ford
Motor’s Volvo unit, is seeking at least US$1 billion in loans from mainland banks including Bank of China (3988), China Construction Bank (939) and the Export-Import Bank of China to finance its US$1.8 billion bid, sources said yesterday. Geely spokesman declined to comment on the loan plans. (Sing Tao Finance B3)
Global Bio-Chem Technology (809 HK) expects to record a substantial profit decline as compared with last year, reflecting that the company is adversely affected by the poor economy. (Sing Tao Finance B3)
Global Sweeteners (3889 HK) announced that an observable decline in its net profit is expected on poor economic environment. (Sing Tao Finance B3)
R&F Properties (2777 HK) has reached 98.4 per cent of its annual sales target with 22.6 billion yuan recorded for the period ended November, surging 58 per cent year-on-year. (Hong Kong Economic Times A12)
Henderson Land Development (12 HK) expects to sell at least 7 billion to 8 billion yuan worth of residential property next year on the mainland. Henderson is developing about 10 projects on the mainland while it owns a gross floor area of about 130 million square metres there at present. (Sing Tao Finance B2)
HSBC Insurance Brokers Holdings Limited, an indirectly wholly owned subsidiary of HSBC (5 HK), has agreed to sell HSBC Actuaries and Consultants Limited (HACL) to Jardine Lloyd Thompson Group plc for £27.25 million (HK$ 350 million). (Sing Tao Finance B3)
Industrial and Commercial Bank (1398 HK) and The Bank of East Asia (0023) have agreed to extend the longstop date for completion of certain transactions between them. Referring to its proposed acquisition of 70 per cent stake in The Bank of East Asia (Canada) and disposal of 75 per cent stake in ICEA Finance Holdings Limited, ICBC announced that it has obtained the approvals from China regulatory for the acquisition and the disposal. (Hong Kong Economic Journal P. 4)
PCD Stores (331 HK), a mainland department-store operator, plans to list on the Hong Kong bourse to raise as much as HK$3 billion. The company offers 1.5 billion shares at between HK$1.65 and HK$2.00. Entry fee of the IPO will be HK$4040, with 2000 shares per board lot. (Sing Tao Finance B2)
South African health insurance firm Discovery Holdings Ltd has bought almost 25 per cent of Ping An Health Insurance Co (2318 HK) to tap fast-expanding market. (Hong Kong Economic Journal P. 4)
NWS Holdings (0659) has agreed to sell 53 per cent stake in Taifook to Haitong, the second largest brokerage on the mainland by market assets. Taifook (665 HK) would become a subsidiary of Haitong upon the deal. (Hong Kong Economic Journal P. 4)
Tingyi Holdings (322 HK) announced yesterday it has gained approval from Taiwan regulatory to issue 380 million units of TDR in Taiwan. The TDR will be launched on December 16. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, December 1, 2009
Hong Kong Stock Market Wrap Nov. 30th, 2009
IPO: Shengli Pipe plans to list on the Hong Kong bourse on December 17 at an offering price of HK$1.80 to HK$2.69 per share to raise HK$1.3 to HK$1.9 billion. Entry fee amounts to HK$2717.14 per board lot. (Sing Tao Finance B4)
Agile Property (3383 HK) said it has agreed to pay about US$202.7 million (HK$1.58 billion) to Aetos Capital to end a dispute over the investment fund’s withdrawal from a real estate project. (Hong Kong Economic Times A14)
China Metal Recycling (773 HK) has received a suspected bomb in its Wanchai office. The suspected bomb was proved to be a fake one after police bomb unit arrived. (Hong Kong Economic Times A12)
China Railway Construction Corp (1186 HK) announced that it has contracted six projects under construction in Dubai, representing about 0.27 per cent of the revenue from its operation in 2008. Yet, the company clarified that these projects have no business relationship with Dubai World and are progressing smoothly. (Sing Tao Finance B5)
Rumor has it that CNPC (Hong Kong) (135 HK) plans to place 450 million new shares at between HK$8.01 and HK$8.41 per share to seek as much as HK$3.785 billion. (Sing Tao Finance B4)
Fairwood Holdings (52 HK) has recorded a net profit of HK$49.3 million for the first half ended September 30, jumping 6.2 per cent from a year ago. Earnings per share were 39.23 HK cents. An interim dividend of 18 HK cents per share was declared. (Sing Tao Finance B5)
Geely Automobile (175 HK) announced that it has reached an agreement with its substantial shareholder Geely Holding that it will acquire and sell production assets from its substantial shareholders. (Sing Tao Finance B5)
Mainland developer Longfor Properties (960 HK) has entered into a credit agreement for a loan of 18 billion yuan (HK$20.42 billion) with China Construction Bank (0939). (Hong Kong Economic Journal P. 10)
Next Media (282 HK) has posted a net profit of HK$122 million for the first half ended September 30, plummeting 41 per cent from a year ago on weak economies in Hong Kong and Taiwan. Earnings per share were 5 HK cents. No interim dividend was declared. (Sing Tao Finance B5)
PYI Corporation Limited (498 HK), a bulk cargo port and infrastructure operation group, announced that it has sold 15 per cent stake in Yangkou Port to Nantong for 300 million yuan. The group’s holdings of the port drop to 60 per cent from 75 per cent upon the deal. (Hong Kong Economic Journal P. 10)
Sea Holdings (251 HK) has sold a property for HK$245 million. The company expects the deal world fetch a profit of HK$50 million. (Hong Kong Economic Journal P. 10)
Shimao Property (813 HK) is developing a project “Tianjin Shimao Eco-City” with Sino-Singapore Tianjin Eco-City Co. Gross area of the project amounts to 1.8 million square meters and is expected to be completed by 2014 year-end. (Hong Kong Economic Journal P. 10)
Smartone Telecommunications (315 HK) announced that it has reached an agreement with Apple Inc. to sell iPhone 3G and iPhone 3Gs in Hong Kong. According to market sources, Smartone may start to sell iPhone before the Chinese Lunar New Year. (Sing Tao Finance B4)
Tianyi Fruit Holdings (756 HK) chairman Sin Ke said the company’s annual production of concentrated fruit juice may reach 30,000 tonnes since the opening of its production base in November. The company reveals that it plans to open a new factory in Chongqing, but it has no plan to raise financing at present. (Sing Tao Finance B5)
Zijin Mining (2899 HK), China’s third-largest copper producer, has agreed to pay 3.4 billion yuan for Indophil Resources NL to gain a stake in Southeast Asia’s largest untapped copper and gold deposit. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Agile Property (3383 HK) said it has agreed to pay about US$202.7 million (HK$1.58 billion) to Aetos Capital to end a dispute over the investment fund’s withdrawal from a real estate project. (Hong Kong Economic Times A14)
China Metal Recycling (773 HK) has received a suspected bomb in its Wanchai office. The suspected bomb was proved to be a fake one after police bomb unit arrived. (Hong Kong Economic Times A12)
China Railway Construction Corp (1186 HK) announced that it has contracted six projects under construction in Dubai, representing about 0.27 per cent of the revenue from its operation in 2008. Yet, the company clarified that these projects have no business relationship with Dubai World and are progressing smoothly. (Sing Tao Finance B5)
Rumor has it that CNPC (Hong Kong) (135 HK) plans to place 450 million new shares at between HK$8.01 and HK$8.41 per share to seek as much as HK$3.785 billion. (Sing Tao Finance B4)
Fairwood Holdings (52 HK) has recorded a net profit of HK$49.3 million for the first half ended September 30, jumping 6.2 per cent from a year ago. Earnings per share were 39.23 HK cents. An interim dividend of 18 HK cents per share was declared. (Sing Tao Finance B5)
Geely Automobile (175 HK) announced that it has reached an agreement with its substantial shareholder Geely Holding that it will acquire and sell production assets from its substantial shareholders. (Sing Tao Finance B5)
Mainland developer Longfor Properties (960 HK) has entered into a credit agreement for a loan of 18 billion yuan (HK$20.42 billion) with China Construction Bank (0939). (Hong Kong Economic Journal P. 10)
Next Media (282 HK) has posted a net profit of HK$122 million for the first half ended September 30, plummeting 41 per cent from a year ago on weak economies in Hong Kong and Taiwan. Earnings per share were 5 HK cents. No interim dividend was declared. (Sing Tao Finance B5)
PYI Corporation Limited (498 HK), a bulk cargo port and infrastructure operation group, announced that it has sold 15 per cent stake in Yangkou Port to Nantong for 300 million yuan. The group’s holdings of the port drop to 60 per cent from 75 per cent upon the deal. (Hong Kong Economic Journal P. 10)
Sea Holdings (251 HK) has sold a property for HK$245 million. The company expects the deal world fetch a profit of HK$50 million. (Hong Kong Economic Journal P. 10)
Shimao Property (813 HK) is developing a project “Tianjin Shimao Eco-City” with Sino-Singapore Tianjin Eco-City Co. Gross area of the project amounts to 1.8 million square meters and is expected to be completed by 2014 year-end. (Hong Kong Economic Journal P. 10)
Smartone Telecommunications (315 HK) announced that it has reached an agreement with Apple Inc. to sell iPhone 3G and iPhone 3Gs in Hong Kong. According to market sources, Smartone may start to sell iPhone before the Chinese Lunar New Year. (Sing Tao Finance B4)
Tianyi Fruit Holdings (756 HK) chairman Sin Ke said the company’s annual production of concentrated fruit juice may reach 30,000 tonnes since the opening of its production base in November. The company reveals that it plans to open a new factory in Chongqing, but it has no plan to raise financing at present. (Sing Tao Finance B5)
Zijin Mining (2899 HK), China’s third-largest copper producer, has agreed to pay 3.4 billion yuan for Indophil Resources NL to gain a stake in Southeast Asia’s largest untapped copper and gold deposit. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, November 30, 2009
Hong Kong Stock Market Wrap Nov. 27th, 2009
Asian Citrus fell 64 per cent in Hong Kong trading after the stock exchange said “disorderly” transactions prompted it to suspend China’s biggest orange plantation owner on its debut last Friday. Asian Citrus closed at HK$7.10 on the city’s stock exchange, after being suspended at HK$19.94. (Hong Kong Economic Times A12)
The Bank of China (3988 HK), the world’s fourth largest bank, yesterday signed an £86 million (HK$140 million) deal for the prestigious City building One Lothbury. The Bank of China, which currently occupies 48,000 sq ft at 90 Cannon Street, will move between 250 and 300 of its UK staff into its new flagship office, with the hope of expanding its staff base further. (Sing Tao Finance B10)
Consumer sector-focused China Resources Enterprise (291 HK) said on Friday it may consider spinning off its beer and supermarket businesses in the future but no schedule had been set. (Hong Kong Economic Journal P. 3)
Hang Seng Bank (11 HK) has gained approval from China regulator to open a new branch in Foshan. The lender is seeking opportunity to open more branches in Guangdong Province. (Sing Tao Finance B10)
Chinese PC maker Lenovo (992 HK) said it intends reacquiring its Lenovo Mobile business for UK$200 million (HK$1.6 billion). The handset unit was bought for half the reacquisition sum 18 months back, by a group of investors led by the private equity arm of the company’s parent Legend Holdings. (Hong Kong Economic Times A12)
Modern Beauty Salon (919 HK) has issued profit warning on interim results for the period ended September 30, expecting a loss due to economic downturn. The company will announce results on December 17. (Hong Kong Economic Times A12)
Sa Sa International (178 HK) has posted a net profit of HK$123.52 million for the six months ended September 30, surging 40.9 per cent over the previous corresponding period. Earnings per share were 8.9 HK cents. An interim dividend of 3 HK cents per share and a special dividend of 6 HK cents per share were declared. (Hong Kong Economic Journal P. 3)
China Eastern Airlines (670 HK) announced that it has gained approval from China Securities Regulatory Commission to issue 490 million new H shares to its parent CES Global. (Hong Kong Economic Journal P.8)
China National Materials (1893 HK) clarified that it has no direct cooperation with Dubai World and said its business would not be affected by the request made by Dubai World to delay its debt repayment to the company. (Hong Kong Economic Journal P.10)
Guangzhou R&F Properties (2777 HK) has purchased a commercial land lot with 18,816 square metres in Guangzhou for 400 million yuan. This is the fourth time to purchase land lot this month. (Hong Kong Economic Journal P.10)
Pearl Oriental (632 HK) Innovation announced that it has agreed to sell 100 per cent stakes in its subsidiary Pearl Oriental Warehouse (Shenzhen) Company Limited for HK$106 million, gaining a profit of HK$500,000. The deal will be completed on
December 18. (Sing Tao Finance B13)
Sino Katalytics Investment (2324 HK) has agreed to place 51.56 million new shares at a price of HK$0.24 per share, an 11 per cent discount of the closing price last Friday. It plans to raise HK$12 million through the placement. (Sing Tao Finance B13)
Sino-Ocean Land Holdings (3377 HK) has bought three pieces of land in Dalian for 1.159 billion yuan, including two residential and a high technology industry land lots with a gross area of 1.79 million square metres. (Hong Kong Economic Journal P.10)
Styland Holdings (211 HK) has posted a net profit of HK$33 million for the first half ended September 30, against a net loss of HK$18 million compared with last year. An interim dividend of 0.16 HK cents per share was declared. Bonus shares will be issued on the basis of 1 bonus share for every 10 shares and will be delivered once it resumes trading. (Sing Tao Finance B13)
UDL Holdings (620 HK) has recorded an annual net loss of HK$28.23 million for the period ended July 31. Loss per share was 0.31 HK cents. No interim dividend was declared. (Sing Tao Finance B13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
The Bank of China (3988 HK), the world’s fourth largest bank, yesterday signed an £86 million (HK$140 million) deal for the prestigious City building One Lothbury. The Bank of China, which currently occupies 48,000 sq ft at 90 Cannon Street, will move between 250 and 300 of its UK staff into its new flagship office, with the hope of expanding its staff base further. (Sing Tao Finance B10)
Consumer sector-focused China Resources Enterprise (291 HK) said on Friday it may consider spinning off its beer and supermarket businesses in the future but no schedule had been set. (Hong Kong Economic Journal P. 3)
Hang Seng Bank (11 HK) has gained approval from China regulator to open a new branch in Foshan. The lender is seeking opportunity to open more branches in Guangdong Province. (Sing Tao Finance B10)
Chinese PC maker Lenovo (992 HK) said it intends reacquiring its Lenovo Mobile business for UK$200 million (HK$1.6 billion). The handset unit was bought for half the reacquisition sum 18 months back, by a group of investors led by the private equity arm of the company’s parent Legend Holdings. (Hong Kong Economic Times A12)
Modern Beauty Salon (919 HK) has issued profit warning on interim results for the period ended September 30, expecting a loss due to economic downturn. The company will announce results on December 17. (Hong Kong Economic Times A12)
Sa Sa International (178 HK) has posted a net profit of HK$123.52 million for the six months ended September 30, surging 40.9 per cent over the previous corresponding period. Earnings per share were 8.9 HK cents. An interim dividend of 3 HK cents per share and a special dividend of 6 HK cents per share were declared. (Hong Kong Economic Journal P. 3)
China Eastern Airlines (670 HK) announced that it has gained approval from China Securities Regulatory Commission to issue 490 million new H shares to its parent CES Global. (Hong Kong Economic Journal P.8)
China National Materials (1893 HK) clarified that it has no direct cooperation with Dubai World and said its business would not be affected by the request made by Dubai World to delay its debt repayment to the company. (Hong Kong Economic Journal P.10)
Guangzhou R&F Properties (2777 HK) has purchased a commercial land lot with 18,816 square metres in Guangzhou for 400 million yuan. This is the fourth time to purchase land lot this month. (Hong Kong Economic Journal P.10)
Pearl Oriental (632 HK) Innovation announced that it has agreed to sell 100 per cent stakes in its subsidiary Pearl Oriental Warehouse (Shenzhen) Company Limited for HK$106 million, gaining a profit of HK$500,000. The deal will be completed on
December 18. (Sing Tao Finance B13)
Sino Katalytics Investment (2324 HK) has agreed to place 51.56 million new shares at a price of HK$0.24 per share, an 11 per cent discount of the closing price last Friday. It plans to raise HK$12 million through the placement. (Sing Tao Finance B13)
Sino-Ocean Land Holdings (3377 HK) has bought three pieces of land in Dalian for 1.159 billion yuan, including two residential and a high technology industry land lots with a gross area of 1.79 million square metres. (Hong Kong Economic Journal P.10)
Styland Holdings (211 HK) has posted a net profit of HK$33 million for the first half ended September 30, against a net loss of HK$18 million compared with last year. An interim dividend of 0.16 HK cents per share was declared. Bonus shares will be issued on the basis of 1 bonus share for every 10 shares and will be delivered once it resumes trading. (Sing Tao Finance B13)
UDL Holdings (620 HK) has recorded an annual net loss of HK$28.23 million for the period ended July 31. Loss per share was 0.31 HK cents. No interim dividend was declared. (Sing Tao Finance B13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, November 27, 2009
Hong Kong Stock Market Wrap Nov. 26th, 2009
BYD (1211 HK) Company Ltd has posted a net profit of 1.16 billion yuan for the period ended September 30, up more than 5 times than that in the same period of last year. The company attributes the profit to the 53 per cent rise of business volume and drop in financing cost and other spending. (Hong Kong Economic Times A12)
China Resources Gas (1193 HK) has announced its acquisition plan of Zhengzhou Gas (3928) earlier and is going to form a joint venture with substantial shareholders of the latter in order to buy it out at a price of 8.45 yuan per share, a 44 per cent discount of its closing price. (Sing Tao Finance B2)
CLP Holdings (2 HK) plans to split its Indian unit to list on the India bourse. The company said the aim of the listing is not fund raising but to change Indian investors’ view on CLP Holdings and to develop a local Indian image of the company. (Sing Tao Finance B1)
Easyknit International Holdings (1218 HK) Ltd said the arrest of Kwun Wing-yi, the husband of Lui Yuk Chu, vice chairman and executive director of the company, for the charge of kidnapping and money laundering, would not affect the company’s operations, assets and finances. (Hong Kong Economic Times A12)
Excellence Real Estate Group (1028 HK) will resume its listing plan next year in spring to raise as much as HK$3.9 billion, which is halved from its original plan of HK$7.8 billion. (Hong Kong Economic Journal P. 12)
First Mobile Group (865 HK) says it cannot meet demands by its bank creditors for the immediate repayment of HK$362 million. Its shares will be suspended from today. (Sing Tao Finance B2)
Guangzhou R&F Properties (2777 HK) has bought a site in Zhujiang New Town in Guangzhou for 1.01 billion yuan. The gross floor area is 91,503 square meters. (Sing Tao Finance B3)
Kingsoft Corporation (3888 HK) said the earnings for the third quarter has dropped 32.9 per cent on the year to 69.064 million yuan due to the fall in average user consumption and tax rise. Earnings per share were 6.48 HK cents and income has grown 13.4 per cent to 246 million yuan. (Sing Tao Finance B3)
QJY Media (2366 HK) has posted a net loss of HK$390 million for the year ended September 30, compared with a profit of HK$217 million a year ago. Loss per share was 55.96 HK cents. A final dividend of 0.88 HK cent per share was declared. (Sing Tao Finance B3)
Shimao Property (813 HK) has bought a residential area in Shenyang for 790 million yuan. Per square meter price is 1436 yuan. (Sing Tao Finance B3)
Sino Dragon New Energy (395 HK), formerly China Zirconium, said it will focus on fuel power research and undertake two new energy projects to generate power from coking coal and marsh gas. Chairman Yang Xinmin said Sino Dragon will launch a three-year research and development plan for its solid oxide fuel cell project. (Sing Tao Finance B3)
Smartone Telecommunications Holdings (315 HK) CEO Douglas Li said yesterday the number of smartphone users has grown nearly 70 per cent over the last 12 months. He said the company would launch new search services for smartphones. (Hong Kong Economic Journal 8)
Soho China Ltd (410 HK) chairman Pan Shi Yi said yesterday at the 7th Global Chinese Business Leaders Summit that the group’s sale amount had achieved 12 billion yuan. He said the housing price next year would depend on government polices instead of developers. (Hong Kong Economic Journal 13)
The Tianjing-based developer Sunac China (1918 HK) plans to list on the Hong Kong bourse by the end of this year, sources said. The company aims to raise as much as US$300 million. (Hong Kong Economic Journal P. 12)
Yip's Chemical (408 HK) Holdings yesterday announced that its gross profits have grown 44 per cent on the year to HK$228 million for the period ended September 30. Earnings per share were 42.5 HK cents. It will pay an interim dividend of 12 HK cents per share. (Hong Kong Economic Journal 13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Resources Gas (1193 HK) has announced its acquisition plan of Zhengzhou Gas (3928) earlier and is going to form a joint venture with substantial shareholders of the latter in order to buy it out at a price of 8.45 yuan per share, a 44 per cent discount of its closing price. (Sing Tao Finance B2)
CLP Holdings (2 HK) plans to split its Indian unit to list on the India bourse. The company said the aim of the listing is not fund raising but to change Indian investors’ view on CLP Holdings and to develop a local Indian image of the company. (Sing Tao Finance B1)
Easyknit International Holdings (1218 HK) Ltd said the arrest of Kwun Wing-yi, the husband of Lui Yuk Chu, vice chairman and executive director of the company, for the charge of kidnapping and money laundering, would not affect the company’s operations, assets and finances. (Hong Kong Economic Times A12)
Excellence Real Estate Group (1028 HK) will resume its listing plan next year in spring to raise as much as HK$3.9 billion, which is halved from its original plan of HK$7.8 billion. (Hong Kong Economic Journal P. 12)
First Mobile Group (865 HK) says it cannot meet demands by its bank creditors for the immediate repayment of HK$362 million. Its shares will be suspended from today. (Sing Tao Finance B2)
Guangzhou R&F Properties (2777 HK) has bought a site in Zhujiang New Town in Guangzhou for 1.01 billion yuan. The gross floor area is 91,503 square meters. (Sing Tao Finance B3)
Kingsoft Corporation (3888 HK) said the earnings for the third quarter has dropped 32.9 per cent on the year to 69.064 million yuan due to the fall in average user consumption and tax rise. Earnings per share were 6.48 HK cents and income has grown 13.4 per cent to 246 million yuan. (Sing Tao Finance B3)
QJY Media (2366 HK) has posted a net loss of HK$390 million for the year ended September 30, compared with a profit of HK$217 million a year ago. Loss per share was 55.96 HK cents. A final dividend of 0.88 HK cent per share was declared. (Sing Tao Finance B3)
Shimao Property (813 HK) has bought a residential area in Shenyang for 790 million yuan. Per square meter price is 1436 yuan. (Sing Tao Finance B3)
Sino Dragon New Energy (395 HK), formerly China Zirconium, said it will focus on fuel power research and undertake two new energy projects to generate power from coking coal and marsh gas. Chairman Yang Xinmin said Sino Dragon will launch a three-year research and development plan for its solid oxide fuel cell project. (Sing Tao Finance B3)
Smartone Telecommunications Holdings (315 HK) CEO Douglas Li said yesterday the number of smartphone users has grown nearly 70 per cent over the last 12 months. He said the company would launch new search services for smartphones. (Hong Kong Economic Journal 8)
Soho China Ltd (410 HK) chairman Pan Shi Yi said yesterday at the 7th Global Chinese Business Leaders Summit that the group’s sale amount had achieved 12 billion yuan. He said the housing price next year would depend on government polices instead of developers. (Hong Kong Economic Journal 13)
The Tianjing-based developer Sunac China (1918 HK) plans to list on the Hong Kong bourse by the end of this year, sources said. The company aims to raise as much as US$300 million. (Hong Kong Economic Journal P. 12)
Yip's Chemical (408 HK) Holdings yesterday announced that its gross profits have grown 44 per cent on the year to HK$228 million for the period ended September 30. Earnings per share were 42.5 HK cents. It will pay an interim dividend of 12 HK cents per share. (Hong Kong Economic Journal 13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, November 26, 2009
Hong Kong Stock Market Wrap Nov. 25th, 2009
Bank of China Hong Kong (2388 HK) said it had not lay off staff since the outbreak of the financial tsunami and it now plans to hire 500 life insurance salespeople. (Sing Tao Finance B4)
Cafe De Coral Holdings Ltd (341 HK) announced that the gross profits has reached HK$221 million for the period ended September 30, up 10.33 per cent from last year. Earnings per share were 39.83 HK cents. An interim dividend of 17 HK cents was declared. (Hong Kong Economic Times A12)
China Kangda Food Company (834 HK) announced that it has signed an agreement with Weifang Chixing Investment and Overseas Investment Company that it will buy the 100 per cent stake in Shandong Kaijia Food Co.,Ltd for around 130 million yuan. (Sing Tao Finance B4)
Sinopec Corp (386 HK), the biggest oil refiner in China, and US buyout firm TPG have weighed a bid for bankrupt chemicals company LyondellBasell Industries that could challenge Reliance Industries Ltd's (RIL) offer of about US$12 billion, say international media reports. However, according to spokesman of Sinopec, they are not considering a bid to buy LyondellBasell Industries. (Hong Kong Economic Journal P. 8)
China Resources (1193 HK) Gas announced yesterday it plans to acquire all stake of Zhengzhou Gas (3928), including both H shares and mainland shares of the company, for HK$682 million. (Hong Kong Economic Times A12)
Hanison Construction (896 HK) has gained approval from government to develop a low-density housing project in Yuen Long, 122 units of western-style housing would be developed. (Hong Kong Economic Journal P. 10)
Norway central bank Norges Bank has accumulated 16 million stakes of Hutch Telecom (2332 HK) at a price of HK$1.578 per share for HK$25.6 million. (Sing Tao Finance B4)
Trading in shares of K.P.I. (605 HK) Company has been suspended with effect yesterday pending the release of a clarification announcement, which is price-sensitive in nature. K. P. I. plans to increase the number of convenient stores to 300 outlets by 2011, a revenue of HK$1.4 billion for the first ten months has been recorded. (Sing Tao Finance B4)
Media Chinese International Ltd (685 HK) announced that its first-half profits has reached US$14.65 million, down 2.5 per cent year-on-year. An interim dividend of 0.45 US cents was declared. (Ming Pao A23)
Rumour has it that PetroChina (857 HK) is bidding an overseas asset from Spanish oil firm Repsol YPF SA in Argentina for US$14 billion. (Hong Kong Economic Journal P. 8)
Shimao Property (813 HK) said it has acquired two plots of land in Chengdu and Shanghai for 936 million yuan, which would be developed for residential use. (Hong Kong Economic Journal P. 10)
Sinotronics Holdings (1195 HK), a Hong Kong-based electronics maker, surged by a record on the city’s stock exchange after Controlling shareholder Lin Wan Qaing sold his entire 41.2 per cent holding at 18 HK cents each to a company owned by Sze Ming Yee, a property developer in China. (Sing Tao Finance B4)
Sinotruk (Hong Kong) Limited (3808 HK) announced that its subsidiary CNHTC Jinan Power Co would buy a 100 per cent stake in Sinotruk Group Jining Commercial Vehical (sic) Co. Ltd from its parent company Sinotruk Group for 110 million yuan. (Ming Pao B5)
TPV Technology Ltd (903 HK) said its net profits for the first three quarters ended September 30 has declined 26.5 per cent to US$94.148 million (HK$734 million). Earnings per share were 4.46 US cents. (Hong Kong Economic Times A12)
VTech Holdings (303 HK) said its net profit has surged 33 per cent to US$91.5 million (HK$714 million) for the period ended September 30. An interim dividend of 16 US cents per share was declared, up 33.3 per cent from last year. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Cafe De Coral Holdings Ltd (341 HK) announced that the gross profits has reached HK$221 million for the period ended September 30, up 10.33 per cent from last year. Earnings per share were 39.83 HK cents. An interim dividend of 17 HK cents was declared. (Hong Kong Economic Times A12)
China Kangda Food Company (834 HK) announced that it has signed an agreement with Weifang Chixing Investment and Overseas Investment Company that it will buy the 100 per cent stake in Shandong Kaijia Food Co.,Ltd for around 130 million yuan. (Sing Tao Finance B4)
Sinopec Corp (386 HK), the biggest oil refiner in China, and US buyout firm TPG have weighed a bid for bankrupt chemicals company LyondellBasell Industries that could challenge Reliance Industries Ltd's (RIL) offer of about US$12 billion, say international media reports. However, according to spokesman of Sinopec, they are not considering a bid to buy LyondellBasell Industries. (Hong Kong Economic Journal P. 8)
China Resources (1193 HK) Gas announced yesterday it plans to acquire all stake of Zhengzhou Gas (3928), including both H shares and mainland shares of the company, for HK$682 million. (Hong Kong Economic Times A12)
Hanison Construction (896 HK) has gained approval from government to develop a low-density housing project in Yuen Long, 122 units of western-style housing would be developed. (Hong Kong Economic Journal P. 10)
Norway central bank Norges Bank has accumulated 16 million stakes of Hutch Telecom (2332 HK) at a price of HK$1.578 per share for HK$25.6 million. (Sing Tao Finance B4)
Trading in shares of K.P.I. (605 HK) Company has been suspended with effect yesterday pending the release of a clarification announcement, which is price-sensitive in nature. K. P. I. plans to increase the number of convenient stores to 300 outlets by 2011, a revenue of HK$1.4 billion for the first ten months has been recorded. (Sing Tao Finance B4)
Media Chinese International Ltd (685 HK) announced that its first-half profits has reached US$14.65 million, down 2.5 per cent year-on-year. An interim dividend of 0.45 US cents was declared. (Ming Pao A23)
Rumour has it that PetroChina (857 HK) is bidding an overseas asset from Spanish oil firm Repsol YPF SA in Argentina for US$14 billion. (Hong Kong Economic Journal P. 8)
Shimao Property (813 HK) said it has acquired two plots of land in Chengdu and Shanghai for 936 million yuan, which would be developed for residential use. (Hong Kong Economic Journal P. 10)
Sinotronics Holdings (1195 HK), a Hong Kong-based electronics maker, surged by a record on the city’s stock exchange after Controlling shareholder Lin Wan Qaing sold his entire 41.2 per cent holding at 18 HK cents each to a company owned by Sze Ming Yee, a property developer in China. (Sing Tao Finance B4)
Sinotruk (Hong Kong) Limited (3808 HK) announced that its subsidiary CNHTC Jinan Power Co would buy a 100 per cent stake in Sinotruk Group Jining Commercial Vehical (sic) Co. Ltd from its parent company Sinotruk Group for 110 million yuan. (Ming Pao B5)
TPV Technology Ltd (903 HK) said its net profits for the first three quarters ended September 30 has declined 26.5 per cent to US$94.148 million (HK$734 million). Earnings per share were 4.46 US cents. (Hong Kong Economic Times A12)
VTech Holdings (303 HK) said its net profit has surged 33 per cent to US$91.5 million (HK$714 million) for the period ended September 30. An interim dividend of 16 US cents per share was declared, up 33.3 per cent from last year. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, November 25, 2009
Hong Kong Stock Market Wrap Nov. 24th, 2009
Shortfalls began this month when heavy snow hit north China, Binhai Investment (8035 HK) expects the unstable natural gas supply to continue, and said the condition would benefit its development. Prices of natural gas are set to rise but still have a distant to global price. It said a globalization of natural gas price would not happen in a short term. Meanwhile, the company plans to develop in real estate business as its substantial shareholder Tianjin TEDA Investment Holding Co., Ltd owns 20 square kilometres of land reserves. (Hong Kong Economic Journal P. 6)
Minsheng Bank (1998 HK) grey market prices are between HK$9 to HK$9.2, falling short of expectation and may drop further below to the share offer price at HK$9.08. (Hong Kong Economic Journal P. 2)
EPI Holdings (689 HK) is in talks with one of the three largest oil companies in China on exploiting oil fields and setting up a refinery at its oil field project in Argentina. A detailed plan will be released in the first half of next year. Forecast cost of the refinery is US$100 million to US$200 million.
Fosun Internationa’s (656 HK) subsidiary Nanjing Iron and Steel plans to acquire 100 per cent stake in Nanjing Iron and Steel Property Development from Nanjing Iron and Steel Union Company Limited for 9.92 billion yuan so as to list its steel and iron business. It plans to issue 2.17 billion shares at a price of 4.19 yuan per share. (Sing Tao Finance B4)
GCL-Poly Energy (3800 HK) has agreed to issue 3.1 billion new shares to China Investment Corporation (CIC) at a price of HK$1.79 with a 9-month lock up period. (Hong Kong Economic Journal P. 8)
(0902) HUANENG POWER INTERNATIONAL, INC
TO REDUCE TARIFFS According to the announcement of the National Development and Reform Commission, the average on-grid tariff of its coal-fired power plants would be decreased by 1.29 yuan /MWh, a 0.3 per cent decrease as compared to that before the adjustment. The adjustment took effect on November 20. (Sing Tao Finance B4)
I-cable (1097 HK) has announced fee for watching the Premier League matches, new subscribers are to pay a monthly fee of HK$340 while existing subscribers are to pay HK$159, rising from HK$139 on upgrading the plan. (Hong Kong Economic Journal P. 6)
Manulife Financial (945 HK) has agreed to buy 49 per cent stake in ABN AMRO TEDA Fund Management Co from Fortis Bank for 105 million euros (HK$1.2 billion). The fund will be renamed as Manulife TEDA Fund Management Co upon completion. The purchase is subject to regulatory approval and is expected to complete in the first quarter of next year. (Sing Tao Finance B3)
PetroChina (857 HK), the country's leading gas supplier, yesterday said it would make a second cut of 3 million cubic meters in the daily amount it delivers to industrial users in north China, reducing their volumes by another 10 per cent. PetroChina was also pumping at maximum rates, raising its daily output to nearly 200 million cubic meters from 169 million cubic meters in early November. (Hong Kong Economic Journal P. 5)
Silver Grant International (171 HK) is to sell 364 million new shares to Chinese state-owned China Guangdong Nuclear Power Group (CGNPC) at a price of HK$2 each to raise HK$728 million for acquisition of natural resources, energy and nuclear-related investment. (Hong Kong Economic Times A12)
SincereWatch (444 HK) has recorded an interim net loss of HK$27.9 million for the period ended on September 30, compares to a net profit of HK$45 million last year. Loss per share was 6.9 HK cents. (Sing Tao Finance B4)
Skyfame Realty (59 HK) announced that its provisional liquidators are currently ascertaining its financial position and operations and together with the board of directors of the company aim to put forward to the creditors a mutually acceptable debt restructuring plan. Trading in the shares of the company has been suspended since November 3 and will remain suspended until further notice. (Hong Kong Economic Times A12)
SHKP (16 HK) has appointed Michael Wong Yick-kam as the group’s principal adviser effective on January 1. Wong was supposed to retire as Sun Hung Kai Properties executive director on January 1 and take up a non-executive position. (Hong Kong Economic Journal P. 7)
TPV Technology (903 HK) has recorded a net profit of US$94 million for the first nine months ended September 30, plunging 27 per cent year-on-year. Net profit for the third quarter totalled 39.497 million, climbing 26 per cent from a year ago. Earnings per share were 4.46 US cents. No interim dividend was declared. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Minsheng Bank (1998 HK) grey market prices are between HK$9 to HK$9.2, falling short of expectation and may drop further below to the share offer price at HK$9.08. (Hong Kong Economic Journal P. 2)
EPI Holdings (689 HK) is in talks with one of the three largest oil companies in China on exploiting oil fields and setting up a refinery at its oil field project in Argentina. A detailed plan will be released in the first half of next year. Forecast cost of the refinery is US$100 million to US$200 million.
Fosun Internationa’s (656 HK) subsidiary Nanjing Iron and Steel plans to acquire 100 per cent stake in Nanjing Iron and Steel Property Development from Nanjing Iron and Steel Union Company Limited for 9.92 billion yuan so as to list its steel and iron business. It plans to issue 2.17 billion shares at a price of 4.19 yuan per share. (Sing Tao Finance B4)
GCL-Poly Energy (3800 HK) has agreed to issue 3.1 billion new shares to China Investment Corporation (CIC) at a price of HK$1.79 with a 9-month lock up period. (Hong Kong Economic Journal P. 8)
(0902) HUANENG POWER INTERNATIONAL, INC
TO REDUCE TARIFFS According to the announcement of the National Development and Reform Commission, the average on-grid tariff of its coal-fired power plants would be decreased by 1.29 yuan /MWh, a 0.3 per cent decrease as compared to that before the adjustment. The adjustment took effect on November 20. (Sing Tao Finance B4)
I-cable (1097 HK) has announced fee for watching the Premier League matches, new subscribers are to pay a monthly fee of HK$340 while existing subscribers are to pay HK$159, rising from HK$139 on upgrading the plan. (Hong Kong Economic Journal P. 6)
Manulife Financial (945 HK) has agreed to buy 49 per cent stake in ABN AMRO TEDA Fund Management Co from Fortis Bank for 105 million euros (HK$1.2 billion). The fund will be renamed as Manulife TEDA Fund Management Co upon completion. The purchase is subject to regulatory approval and is expected to complete in the first quarter of next year. (Sing Tao Finance B3)
PetroChina (857 HK), the country's leading gas supplier, yesterday said it would make a second cut of 3 million cubic meters in the daily amount it delivers to industrial users in north China, reducing their volumes by another 10 per cent. PetroChina was also pumping at maximum rates, raising its daily output to nearly 200 million cubic meters from 169 million cubic meters in early November. (Hong Kong Economic Journal P. 5)
Silver Grant International (171 HK) is to sell 364 million new shares to Chinese state-owned China Guangdong Nuclear Power Group (CGNPC) at a price of HK$2 each to raise HK$728 million for acquisition of natural resources, energy and nuclear-related investment. (Hong Kong Economic Times A12)
SincereWatch (444 HK) has recorded an interim net loss of HK$27.9 million for the period ended on September 30, compares to a net profit of HK$45 million last year. Loss per share was 6.9 HK cents. (Sing Tao Finance B4)
Skyfame Realty (59 HK) announced that its provisional liquidators are currently ascertaining its financial position and operations and together with the board of directors of the company aim to put forward to the creditors a mutually acceptable debt restructuring plan. Trading in the shares of the company has been suspended since November 3 and will remain suspended until further notice. (Hong Kong Economic Times A12)
SHKP (16 HK) has appointed Michael Wong Yick-kam as the group’s principal adviser effective on January 1. Wong was supposed to retire as Sun Hung Kai Properties executive director on January 1 and take up a non-executive position. (Hong Kong Economic Journal P. 7)
TPV Technology (903 HK) has recorded a net profit of US$94 million for the first nine months ended September 30, plunging 27 per cent year-on-year. Net profit for the third quarter totalled 39.497 million, climbing 26 per cent from a year ago. Earnings per share were 4.46 US cents. No interim dividend was declared. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, November 24, 2009
Hong Kong Stock Market Wrap Nov. 23rd, 2009
IPO: New listing candidate Shandong Taifeng Textile (873 HK) hopes to raise HK$78 million on the Hong Kong bourse next month. Its IPO will kick off on December 1. (Hong Kong Economic Journal P. 2)Shengli Oil& Gas passed hearing of its listing last week and is going to float 720 million shares for US$200 million (HK$1.56 billion), its IPO will kick off on December 8. (Hong Kong Economic Journal P. 2)
Brightoil Petroleum (933 HK) has entered into a MOA with Nisos Shipping Co. Ltd. to acquire an oil tanker for US$52.5 million (HK$410 million). (Sing Tao Finance B3)
Tycoon Li Ka-shing raised his stake in Cheung Kong Holdings Ltd. (1 HK) to 40.66 per cent last Thursday, according to a statement filed to the Hong Kong stock exchange. Li bought 1.2 million shares at an average price of HK$97.049 for HK$116.9 million. He also bought 208,000 Hutchison Whampoa Ltd. (0013) shares on Thursday at an average price of HK$54.234, leaving his stake in the blue-chip conglomerate to 51.43 per cent. (Sing Tao Finance B3)
China Investment Corp has agreed to buy US$400 million (HK$3.1 billion) of stock in China Longyuan Power Group Corp’s (916 HK) Hong Kong initial share sale, as the sovereign wealth fund steps up investments in energy and commodities companies.
(Hong Kong Economic Journal P. 2)
China Resources Power’s (836 HK) wholly-owned subsidiary CR Power Nansha has entered into an acquisition agreement with Guangzhou Nansha Investment in relation to an acquisition of 30 per cent stake in Guangzhou Thermal Power for 1.184 billion yuan. CR Power Nansha currently holds 70 per cent stake in Guangzhou Thermal Power. (Sing Tao Finance B3)
China Telecom (728 HK) is in advance talks with BlackBerry about the sales of Blackberry handsets in China. The operator plans to sell CDMA Blackberry handsets by the end of the year or early next year, as it tries to gain share from the other two mobile telecom rivals, a source familiar with the situation said. (Sing Tao Finance B3)
Country Garden (2007 HK) announced that its property sales in Shanwei has kicked off on November 18. The total sales for the first three days have reached 550 million yuan. (Sing Tao Finance B3)
HKMC, a subsidiary of Far East Golden Resources (1188 HK) in the US, will introduce Eco Car technology to factory on the mainland. The company expects the factory to start producing in 2013 and have an annual production of 3 million units of cars
(Sing Tao Finance B2)
HSBC (5 HK) plans to issue 1.25 billion euro senior unsecured fixed-rate 7-year bond, with mid-swaps plus 67 basis points, pricing later on Monday, sources said. (Hong Kong Economic Journal P. 4)
KWG Property (1813 HK) has sold 155 and 170 units of its Chengdu and Suzhou projects and has recorded a sales income of 550 million yuan and 150 million yuan respectively. (Hong Kong Economic Journal P. 7)
Long Success International (8017 HK) announced that it will focus on developing environmentally friendly paper on the mainland as it is highly potential in China’s market. The company has previously formed a joint venture with Zao Zhuang Hua Jin Paper to manufacture coated white top kraft liner board.
RBI Holdings (566 HK) announced that its subsidiary Apollo Solar Energy Technology Holdings Limited has gained two contracts, which totalled 175 megawatt and 1 billion yuan. The company has guaranteed revenue of US$15 million and US$40 million for the second half and first half of 2010. (Sing Tao Finance B3)
Growth of mortgage insurance of Standard Chartered (2888 HK) for the first three quarters has doubled, 60 per cent up compares with last year. The lender believes property market will turn more active as economy recovers. (Hong Kong Economic Times A12)
The Children’s Investment Fund (TCI) (823 HK) has cut its long position in Link REIT through two funds by 3.05 million units for a total of HK$52.4 million at a price at HK$17.01 per unit. (Hong Kong Economic Journal P. 6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standar
Brightoil Petroleum (933 HK) has entered into a MOA with Nisos Shipping Co. Ltd. to acquire an oil tanker for US$52.5 million (HK$410 million). (Sing Tao Finance B3)
Tycoon Li Ka-shing raised his stake in Cheung Kong Holdings Ltd. (1 HK) to 40.66 per cent last Thursday, according to a statement filed to the Hong Kong stock exchange. Li bought 1.2 million shares at an average price of HK$97.049 for HK$116.9 million. He also bought 208,000 Hutchison Whampoa Ltd. (0013) shares on Thursday at an average price of HK$54.234, leaving his stake in the blue-chip conglomerate to 51.43 per cent. (Sing Tao Finance B3)
China Investment Corp has agreed to buy US$400 million (HK$3.1 billion) of stock in China Longyuan Power Group Corp’s (916 HK) Hong Kong initial share sale, as the sovereign wealth fund steps up investments in energy and commodities companies.
(Hong Kong Economic Journal P. 2)
China Resources Power’s (836 HK) wholly-owned subsidiary CR Power Nansha has entered into an acquisition agreement with Guangzhou Nansha Investment in relation to an acquisition of 30 per cent stake in Guangzhou Thermal Power for 1.184 billion yuan. CR Power Nansha currently holds 70 per cent stake in Guangzhou Thermal Power. (Sing Tao Finance B3)
China Telecom (728 HK) is in advance talks with BlackBerry about the sales of Blackberry handsets in China. The operator plans to sell CDMA Blackberry handsets by the end of the year or early next year, as it tries to gain share from the other two mobile telecom rivals, a source familiar with the situation said. (Sing Tao Finance B3)
Country Garden (2007 HK) announced that its property sales in Shanwei has kicked off on November 18. The total sales for the first three days have reached 550 million yuan. (Sing Tao Finance B3)
HKMC, a subsidiary of Far East Golden Resources (1188 HK) in the US, will introduce Eco Car technology to factory on the mainland. The company expects the factory to start producing in 2013 and have an annual production of 3 million units of cars
(Sing Tao Finance B2)
HSBC (5 HK) plans to issue 1.25 billion euro senior unsecured fixed-rate 7-year bond, with mid-swaps plus 67 basis points, pricing later on Monday, sources said. (Hong Kong Economic Journal P. 4)
KWG Property (1813 HK) has sold 155 and 170 units of its Chengdu and Suzhou projects and has recorded a sales income of 550 million yuan and 150 million yuan respectively. (Hong Kong Economic Journal P. 7)
Long Success International (8017 HK) announced that it will focus on developing environmentally friendly paper on the mainland as it is highly potential in China’s market. The company has previously formed a joint venture with Zao Zhuang Hua Jin Paper to manufacture coated white top kraft liner board.
RBI Holdings (566 HK) announced that its subsidiary Apollo Solar Energy Technology Holdings Limited has gained two contracts, which totalled 175 megawatt and 1 billion yuan. The company has guaranteed revenue of US$15 million and US$40 million for the second half and first half of 2010. (Sing Tao Finance B3)
Growth of mortgage insurance of Standard Chartered (2888 HK) for the first three quarters has doubled, 60 per cent up compares with last year. The lender believes property market will turn more active as economy recovers. (Hong Kong Economic Times A12)
The Children’s Investment Fund (TCI) (823 HK) has cut its long position in Link REIT through two funds by 3.05 million units for a total of HK$52.4 million at a price at HK$17.01 per unit. (Hong Kong Economic Journal P. 6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standar
Monday, November 23, 2009
Hong Kong Stock Market Wrap Nov. 20th, 2009
IPO: Beijing technology product distributor Futong plans to list on the Hong Kong bourse. It announced yesterday the availability of preliminary prospectuses on the HKEx website. Futong is one of the distributors of IBM and IBM is the largest supplier of the company. Indebted aluminium giant UC RUSAL plans to sell 3 per cent of its stake to Russian state bank VEB for 4 billion roubles to 18 billion roubles (HK$3.8 billion to HK$4.89 billion) this year or next, according to Reuters.
BYD Company (1211 HK) has denied press reports that its subsidiary, BYD (Ningbo) Semi-conductor Company Limited (Ningbo Semi-conductor), is making a monthly loss of 50 million yuan for the next three years. It also plans to delay the launch of its electric vehicle to next year due to the high prices of the vehicles, which are subject to government’s approval.
Gome Electrical Appliances (493 HK) announced that it has repurchased convertible bonds in an aggregate principal amount of 498.4 million yuan by way of an over-the-counter purchase yesterday.
Industrial and Commercial Bank of China (1398 HK) was granted the banking license from Bank Negara Malaysia, the central bank to open a subsidiary bank in Malaysia. The local bank to be established will be the first banking institution ICBC sets up in Malaysia, marking a significant breakthrough in ICBC’s implementation of its globalization strategy. ICBC’s application had been approved by China Banking Regulatory Commission previously.
Losing rights to English football matches from August, Now TV’s parent PCCW (8 HK) said it will reduce monthly fee to HK$98 since June next year.
Mainland insurance giant Ping An Insurance’s (2318 HK) subsidiary Ping An Asset Management has recently gained approval from the government to invest in non-guaranteed debt. It is believed that such investment can improve the company’s rate of return.
China Eastern Airlines (670 HK) announced that its Yunnan unit has recorded a net profit of 263 million yuan for the first ten months. Revenue amounted to 4.271 billion yuan for the period, climbing 14.3 per cent from a year ago.
China Longyuan Power (916 HK), China’s biggest wind power producer, plans to sell its shares at HK$6.26 to HK$8.16 each in its listing on December 10. Roadshow will be held on November 26.
Hong Kong Energy (987 HK) has agreed to buy 25 per cent shares of a project company HKE (Danjinghe) Wind Power Limited from its parent Hong Kong Construction (0190) Limited for 73.5 million yuan.
HSBC (5 HK) has completed a deal to sell its main building in New York to IDB Holding Corp for US$330 million (HK$2.57 billion). According to the announcement released last year, HSBC will leaseback the building for 10 years.
Jia Sheng has posted an interim net loss of HK$6.54 million, against an interim net loss of HK$53 million last year. Sales volume amounted to HK$6.71 million. Loss per share was 0.4 HK cents. No interim dividend was declared.
Pico Far East (752 HK) announced that it has won a bid from Macau to assist in design, execution, project management and maintenance of pavilion in the Expo 2010 in Shanghai for MOP$30 million.
Smartone Telecommunications (315 HK) plans to develop a 3G network in Macau for HK$100 million. The development of 3G network has started since October and is expected to be completed in the second half of next year so that the operator can provide related services in the second half of next year.
Taifook Securities (665 HK), a subsidiary of NWS Holdings Ltd. (0659) has agreed to sell its 373 million shares, or a 52.86 per cent shares, to China’s Haitong Securities Co. at a price of HK$4.88 per share or a total of HK$3.445 billion. NWS Holdings will hold 9 per cent shares of Taifook Securities upon the deal.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
BYD Company (1211 HK) has denied press reports that its subsidiary, BYD (Ningbo) Semi-conductor Company Limited (Ningbo Semi-conductor), is making a monthly loss of 50 million yuan for the next three years. It also plans to delay the launch of its electric vehicle to next year due to the high prices of the vehicles, which are subject to government’s approval.
Gome Electrical Appliances (493 HK) announced that it has repurchased convertible bonds in an aggregate principal amount of 498.4 million yuan by way of an over-the-counter purchase yesterday.
Industrial and Commercial Bank of China (1398 HK) was granted the banking license from Bank Negara Malaysia, the central bank to open a subsidiary bank in Malaysia. The local bank to be established will be the first banking institution ICBC sets up in Malaysia, marking a significant breakthrough in ICBC’s implementation of its globalization strategy. ICBC’s application had been approved by China Banking Regulatory Commission previously.
Losing rights to English football matches from August, Now TV’s parent PCCW (8 HK) said it will reduce monthly fee to HK$98 since June next year.
Mainland insurance giant Ping An Insurance’s (2318 HK) subsidiary Ping An Asset Management has recently gained approval from the government to invest in non-guaranteed debt. It is believed that such investment can improve the company’s rate of return.
China Eastern Airlines (670 HK) announced that its Yunnan unit has recorded a net profit of 263 million yuan for the first ten months. Revenue amounted to 4.271 billion yuan for the period, climbing 14.3 per cent from a year ago.
China Longyuan Power (916 HK), China’s biggest wind power producer, plans to sell its shares at HK$6.26 to HK$8.16 each in its listing on December 10. Roadshow will be held on November 26.
Hong Kong Energy (987 HK) has agreed to buy 25 per cent shares of a project company HKE (Danjinghe) Wind Power Limited from its parent Hong Kong Construction (0190) Limited for 73.5 million yuan.
HSBC (5 HK) has completed a deal to sell its main building in New York to IDB Holding Corp for US$330 million (HK$2.57 billion). According to the announcement released last year, HSBC will leaseback the building for 10 years.
Jia Sheng has posted an interim net loss of HK$6.54 million, against an interim net loss of HK$53 million last year. Sales volume amounted to HK$6.71 million. Loss per share was 0.4 HK cents. No interim dividend was declared.
Pico Far East (752 HK) announced that it has won a bid from Macau to assist in design, execution, project management and maintenance of pavilion in the Expo 2010 in Shanghai for MOP$30 million.
Smartone Telecommunications (315 HK) plans to develop a 3G network in Macau for HK$100 million. The development of 3G network has started since October and is expected to be completed in the second half of next year so that the operator can provide related services in the second half of next year.
Taifook Securities (665 HK), a subsidiary of NWS Holdings Ltd. (0659) has agreed to sell its 373 million shares, or a 52.86 per cent shares, to China’s Haitong Securities Co. at a price of HK$4.88 per share or a total of HK$3.445 billion. NWS Holdings will hold 9 per cent shares of Taifook Securities upon the deal.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, November 20, 2009
Hong Kong Stock Market Wrap Nov. 19th, 2009
UC Rusal, the world’s largest aluminium and alumina producer, is coming to list on the Hong Kong bourse next month. Russian state banking agent VEB is likely to take a stake in the initial public offering of UC Rusal, marking the first government ownership of the embattled aluminum giant, a person close to the company said.
AV Concept (595 HK) now holds 21.32 per cent of shares in a Korean company Wavesquare after accumulating its stakes, it plans to develop super bright LED business.
Bright Prosperous (723 HK) plans to expand its timberland from 280,000 hectares to 1 million hectares in two to three years. Meanwhile, the company also plans to rename as Sustainable Forest Holdings Limited.
BYD (1211 HK) shares has plummeted 15 per cent these days regarding a rumour saying that its Ningbo factory is making a loss of 50,000 yuan every month, reported by a mainland newspaper. BYD clarifies that the loss made by the factory is far below the rumoured 50,000 yuan.
China Minsheng Banking Corp (1988 HK) has raised HK$30.16 billion by pricing its public offering at HK$9.08 per share, the middle of the indicative range is a 5.8 per cent discount of its A-share price, beating market expectations of HK$8.75.
China Mobile (941 HK), the world’s top mobile carrier by subscribers, plans to launch five more series of 3G mobile phones and push the price of each to below 1000 yuan. It also plans to install electronic reader and TV channel technology into the phones.
China Resources Enterprise (291 HK) has posted a net profit of HK$2.2 billion for the first three quarters ended September 30, edging up 1.9 per cent compared with a year ago. Earnings per share were 92 HK cents, a 2.2 per cent increase from a year earlier. Net profit for the third quarter amounted to HK$1.04 billion, surging 55 per cent year-on-year.
China Travel International Investment (308 HK) announced that it has agreed to acquire tourism assets from parent China Travel Service for HK$275 million. The deal will be settled in cash.
Henderson Land (12 HK) said it is in talks to launch several projects in different phrases in the mainland and expects a 2 billion yuan sales.
Imagi International (585 HK) said it expects that it will suffer a loss on the feature film production of Astro Boy. Among 14 countries released, the indicative box office performance of Astro Boy in the US has been disappointing, the company said. The company said it will consider further funding, whether by debt or equity, from time to time to finance future film projects and any Mainland China expansion strategies.
Shenzhen developer Kaisa Group’s IPO (1638 HK) will kick off next Thursday. Sources said its offer price will be set between HK$3.45 and HK$4.45, 1000 shares per lot, meaning an entry fee of HK$4495.
Manulife Financial (945 HK) announced that it plans to issue 2.87546 billion ordinary shares at a price of CAD19.00 (HK$138.7) to raise HK$20.9 billion. This has been the seventh fundraising since December 2008.
Silver Base Group (886 HK) has posted a net profit of HK$170 million for the six months ended September 30, diving 50 per cent from a year ago on seasonal factors affecting the demand for its products. Earnings per share were 14.36 HK cents. An interim dividend of 14.2 HK cents per share was declared.
The LINK REIT (823 HK) has recorded a total distributable income of HK$1.055 billion for the first half ended September 30, climbing 19.3 per cent year-on-year. Distribution per unit for the first half was 48.35 HK cents.
Vitasoy International Holdings (345 HK), a soy beverage manufacturer, has recorded a net income of HK$141 million for the first half ended September 30, rising 46 per cent year-on-year on reduction of the commodities and raw materials.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
AV Concept (595 HK) now holds 21.32 per cent of shares in a Korean company Wavesquare after accumulating its stakes, it plans to develop super bright LED business.
Bright Prosperous (723 HK) plans to expand its timberland from 280,000 hectares to 1 million hectares in two to three years. Meanwhile, the company also plans to rename as Sustainable Forest Holdings Limited.
BYD (1211 HK) shares has plummeted 15 per cent these days regarding a rumour saying that its Ningbo factory is making a loss of 50,000 yuan every month, reported by a mainland newspaper. BYD clarifies that the loss made by the factory is far below the rumoured 50,000 yuan.
China Minsheng Banking Corp (1988 HK) has raised HK$30.16 billion by pricing its public offering at HK$9.08 per share, the middle of the indicative range is a 5.8 per cent discount of its A-share price, beating market expectations of HK$8.75.
China Mobile (941 HK), the world’s top mobile carrier by subscribers, plans to launch five more series of 3G mobile phones and push the price of each to below 1000 yuan. It also plans to install electronic reader and TV channel technology into the phones.
China Resources Enterprise (291 HK) has posted a net profit of HK$2.2 billion for the first three quarters ended September 30, edging up 1.9 per cent compared with a year ago. Earnings per share were 92 HK cents, a 2.2 per cent increase from a year earlier. Net profit for the third quarter amounted to HK$1.04 billion, surging 55 per cent year-on-year.
China Travel International Investment (308 HK) announced that it has agreed to acquire tourism assets from parent China Travel Service for HK$275 million. The deal will be settled in cash.
Henderson Land (12 HK) said it is in talks to launch several projects in different phrases in the mainland and expects a 2 billion yuan sales.
Imagi International (585 HK) said it expects that it will suffer a loss on the feature film production of Astro Boy. Among 14 countries released, the indicative box office performance of Astro Boy in the US has been disappointing, the company said. The company said it will consider further funding, whether by debt or equity, from time to time to finance future film projects and any Mainland China expansion strategies.
Shenzhen developer Kaisa Group’s IPO (1638 HK) will kick off next Thursday. Sources said its offer price will be set between HK$3.45 and HK$4.45, 1000 shares per lot, meaning an entry fee of HK$4495.
Manulife Financial (945 HK) announced that it plans to issue 2.87546 billion ordinary shares at a price of CAD19.00 (HK$138.7) to raise HK$20.9 billion. This has been the seventh fundraising since December 2008.
Silver Base Group (886 HK) has posted a net profit of HK$170 million for the six months ended September 30, diving 50 per cent from a year ago on seasonal factors affecting the demand for its products. Earnings per share were 14.36 HK cents. An interim dividend of 14.2 HK cents per share was declared.
The LINK REIT (823 HK) has recorded a total distributable income of HK$1.055 billion for the first half ended September 30, climbing 19.3 per cent year-on-year. Distribution per unit for the first half was 48.35 HK cents.
Vitasoy International Holdings (345 HK), a soy beverage manufacturer, has recorded a net income of HK$141 million for the first half ended September 30, rising 46 per cent year-on-year on reduction of the commodities and raw materials.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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