BEA (23 HK) stated that there are no negotiations or agreements relating to intended acquisitions or realisations. Rumours that Malaysia-controlled conglomerate Guoco Group is interested in BEA. Guoco Group yesterday stated that the holding of BEA’s shares is just one of its strategic investments but it has not denied or admitted the rumour of taking over BEA.
Brilliance China (1114 HK) has signed a momentum of understanding with German luxury carmaker BMW Group that 5 billion yuan will be spent on new car plant in Shenyang in order to increase the latter’s production capacity in China.
BYD Company (1211 HK) has reached an agreement with Shaoguan that it will spend 1.5 billion yuan on building a runway for automobile trial operation and a production base of auto parts.
China South City Holdings (1668 HK) announced that its sales has amounted to 90,000 square metres this financial year, mainly generated from its phase-two project in Shenzhen. As the sales have nearly met its target, the developer plans to raise the prices of its remaining projects.
China Strategic (235 HK) chief executive Raymond Or Ching-fai said they have submitted acquisition proposal of Taiwan’s Nan Shan Life Insurance to the Taiwan regulator for approval.
CITIC Pacific (267 HK) plans to sell two-thirds of the iron ore produced in its US$ 4 billion project in Australia to Chinese steelmakers. The company will sell 20 million tons of iron ore to customers while the remaining will be left for its own factories in China.
Galaxy Semi-Conductor Holdings (527 HK) announced that it plans to place 80 million of shares at a price of HK$0.45 each to raise HK$35.1 million. The placing price was a 19.64 per cent discount to its closing price.
GCL-Poly Energy (3800 HK) said its October electricity generation has increased by 16 per cent year on year to 0.53 million megawatt-hours while that for the first ten months amounts to 5.57 million megawatt-hours, surging 13.2 per cent year-on-year.
HSBC Holdings (5 HK) will sell its London headquarters building to South Korea's National Pension Service for £ 800 million (HK$10.34 billion), the Maeil Business Newspaper reported.
Orange Sky Golden Harvest Entertainment (1132 HK) announced that it plans to place 366 millions of shares at a price of HK$0.539, a 19.55 per cent discount to its closing price in order to raise as much as HK$189 million.
Shanghai Tonva Petrochemical (8251 HK) announced that its asphalt business, which accounts for 45 per cent of its income, has dropped in prices and gross margins. The company expects price of asphalt to hit height in the fourth quarter and remain high next year as the world Expo 2010 will be held in Shanghai.
Simsen International Corporation (993 HK) announced that chairman Mr. Haywood Cheung, and executive director Mr. Stanley Choi Chiu Fai plan to dispose all or part of the interest to potential investors. The disposal is subject to negotiation and has not been finalized. Mr Cheung, Mr Choi and other connected persons hold more than 63 per cent stakes in the company.
Taifook Securities (665 HK) announced that its controlling shareholder NWS Holdings (0659) was engaged in talks regarding the possibility of disposing part or all of its interests in Taifook Securities. NWS Holdings currently indirectly holds 61.86 per cent of equity interest in Taifook Securities. Taifook Securities will make further announcement to inform the market.
Television Broadcasts (511 HK) announced that Sharp-Roxy (Hong Kong) Limited, through its agent, Mindshare Hong Kong Limited, has purchased advertising airtime and sponsorship packages from Television Broadcasts on TVB’s television channels in Hong Kong for the period from December 1 last year to November 30 this year. The net receipt TVB received totalled HK$6 million. Sharp-Roxy is a connected person of TVB.
Xinyi Glass subsidiary Xinyi Glass (North America) and Xinyi Automobile Glass had to pay US$10.9 million (HK$85 million) to Saint-Gobain on a lawsuit alleging patent infringement in US. Xinyi Glass (868 HK) said it is looking to appeal.
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
