Properties: China Aoyuan Property Group (3883 HK) announced that it has acquired a land lot in Shenyang, which is worth of 822 million yuan. The land lot will be used for developing a large-scale residential and commercial community. China Overseas Land & Investment (688 HK) has bought out Shell Electric Mfg (Holdings) Co (0081) for HK$3.4 billion. As China Overseas Land & Investment is only interested in the 70 per cent stake in China Everbright Real Estate Development Ltd owned by the fan and electric appliance maker Shell Electric, the fan and taxi business are transferred to its subsidiary Privateco.
Resources: China Materials (1893 HK) Company’s A share subsidiary Ningxia Saima Industry said it is seeking a 350 million yuan loan from Bank of Communications Ningxia Branch as working capital. The company has recently gained a 462 million yuan worth cement contract. Chongqing Iron & Steel (1053 HK) announced that it has sold its production facilities in Chongqing to CCB Financial Leasing Corporation Limited for 1.4 billion yuan. The company will borrow these production facilities from CCB on a rental basis. G-Resources (1051 HK) Group says its gold resources and silver resources have risen to 5.5 million ounces and 4.9 million ounces respectively, according to its latest assets report.
China Railway (390 HK) announced that it has won four bids for 11.67 billion yuan, which amount to 4.97 per cent of its revenue last year.
Far East Golden Resources Group (1188 HK) announced yesterday it plans to issue rights to raise no more than US$7.8 billion (HK$60.45 billion) to fund its automobile project in the US.
Grandtop International (2309 HK) chairman Carson Yeung Ka-sing Yeung said he will complete the stock transfer for the takeover of the Birmingham Club on October 13 at the earliest. Carson is keen to use the purchase of the club to boost links between English and Chinese football. He has bought a 29.9 per cent stake in Birmingham early in 2007.
Financials: ICBC (1398 HK) has entered into the sale and purchase agreement with Bangkok Bank Limited (BBL) that it will buy 19.26 per cent shares of ACL Bank from BBL for HK$813 million. ICBC plans to issue a voluntary tender offer over the purchase.
NWS (659 HK) has acquired 179 million shares of China Everbright International at HK$3.03 per share which amounted to HK$542 million on September 24. New World Development, which is the substantial shareholder of NWS, would become the major shareholder of China Everbright International upon the purchase.
Shougang Concord Grand (730 HK) has agreed to buy a plane from Deer Air Company Limited for 200 million yuan and will rent it back to Deer Air for 36 months. Shougang Concord Grand will post a rental fee of 23 million yuan and handling fee of 4.25 million yuan in the deal.
Shui On Construction (983 HK) has previously bought a piece of land in Beijing with its co-developer Yida Real Estate from Pacific Century Premium Developments Ltd (0432). Shui On has a 65 per cent stake in the project while the latter has 35 per cent of shares. The two companies are offering a US$37.5 million and US$20.2 million shareholder loan respectively to raise capital for project development.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
