IPO: Mainland developer TEDA (MSD) said it is developing a modern service district in Binhai and the project investment amounts to 12 billion yuan. The developer said it is seeking other projects and would like to list on the Hong Kong bourse. (Hong Kong Economic Journal P. 10)
China COSCO (1919 HK) announced that it expects to record a loss in its profits for the year ending December 31 on declining global trade volume and deep recession of shipping market. (Sing Tao Finance B3)
China Merchants Bank (3968 HK) said it would continue to look for financing after placing shares. The lender said it has set an interim target and aims to keep the capital adequacy ratio between the level of 10 per cent and 12 per cent. (Hong Kong Economic Times A20)
China Power International Development (2380 HK) said it has an electricity capacity of over 2900 trillion kilo-watt after acquiring Wu Ling Power Corp. The company is now building a hydro energy system and the project is expected to be completed in four years. (Hong Kong Economic Times A20)
Daisho Microline (567 HK) has recorded a net profit of 19 million for the first half ended September 30, surging 5.79 times compared with last year. Earnings per share were 4.02 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Fountain Set (420 HK) has posted an annual net loss of HK$49 million for the year ended September 30, against a net loss of 396 million in the corresponding period last year. Loss per share was 6.2 HK cents. No interim dividend was declared. (Sing Tao Finance B3)
Galaxy Entertainment (27 HK) said it will announce its fund raising plan within three to four weeks’ time. The company said the plan would not involve any share issuing. (Hong Kong Economic Journal P. 10)
Green Global Resources (61 HK), which is soon to takeover North Asia Resources Group, announced that North Asia Resources Group has been granted a mining rights license, fulfilling the conditions of the takeover by Green Global Resources. The takeover will be completed on December 16. (Sing Tao Finance B3)
HKEx (388 HK) chief executive Charles Li Xiaojia said its future direction is to develop yuan products. HKEx will release its three-year strategic plan in March instead of January. (Sing Tao Finance B3)
ICBC (Asia) (349 HK) announced that it has bought a 10 per cent stake in the Hong Kong Mercantile Exchange as a founding shareholder. The lender is the second investor in the bourse for commodities after China Ocean Shipping (Group) Company, parent of China COSCO (1919). (Sing Tao Finance B3)
Longfor Properties (960 HK) announced that it has won a land bid for 2 pieces of land in Qingdao and Chengdu for 1.313 billion yuan. (Sing Tao Finance B3)
Picc Property and Casualty (2328 HK) announced that its premium income for the first eleventh months ended November 30 was up to 110 billion yuan, rising by 17 per cent or 16.1 billion yuan compared with last financial year. (Sing Tao Finance B3)
SOHO (410 HK) China is confident of reaching more than 13 billion yuan in sales this year. The company said it will focus on Shanghai in the near future and would like to develop rental return. (Hong Kong Economic Journal P. 10)
Standard Chartered (2888 HK) chief executive for Asia, Jaspal Bindra, said yesterday that the bank is not in talks to buy assets in Thailand, following a report saying that the bank is planning to acquire Thailand’s Siam City Bank. (Sing Tao Finance B3)
Sunac China (1918 HK) announced that it has decided not to proceed with its global offering under the original timetable after reviewing the current market conditions. The company said it will continue to review the situation to see whether it will relaunch its IPO. (Sing Tao Finance B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
