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
