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
