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
