Friday, December 18, 2009

Hong Kong Stock Market Wrap Dec. 17th, 2009

IPO: American International Group Inc has moved to advanced levels to list its Asian life insurance unit American International Assurance in Hong Kong in an initial public offering that could raise money up to US$20 billion (HK$156 billion). (Hong Kong Economic Journal P. 4)

Ams Public Transport (1140 HK) has posted a net profit of HK$22.67 million for the first half, rocketing 80 per cent compared with a year earlier. The company proposes no interim dividend. (Sing Tao Finance B4)

Brilliance China Automotive (1114 HK) said it is confident that its total sales can surge by 25 to 30 per cent this year. The sales and profit is expected to grow 20 per cent next year. (Sing Tao Finance B5)

China Merchants Holdings (144 HK) is in talks with an independent third party to form a 50:50 joint venture company in Qingdao engaging in ports business with an investment of 6.2 billion yuan and a registered capital of 2 billion yuan. (Sing Tao Finance B4)
China National Materials (1893 HK) Company’s parent China National Materials Group has signed an agreement with Shanghai Pudong Development Bank that the lender would provide a 10 billion yuan credit support and other financial services to the group. (Hong Kong Economic Journal P. 6)

Costal Greenland (1124 HK) has posted an interim profit of HK$80 million for the period ended September 30, diving 83 per cent year-on-year. Earnings per share were 2.87 HK cents. No interim dividend was declared. (Hong Kong Economic Journal P. 10)

Esprit (330 HK), a Hong Kong-based apparel retailer, announced that it plans to spend HK$3.88 billion to purchase 51 per cent stake in textile joint venture Esprit China from its partner China Resources Enterprise (0291). Esprit China will be wholly owned by Esprit after the stake purchase. The company said this takeover might help further facilitate its expansion on the mainland. (Sing Tao Finance B5)

Huadian Power’s (1071 HK) parent China Huadian Power Group said its first 10MWp solar energy plant in Ningxia has started operation. The project is the biggest solar energy plant among Aisa. (Hong Kong Economic Journal P. 2)

Luk Fook Holdings (590 HK) has recorded a net profit of HK$188 million for the first half ended September 30, climbing 53 per cent compared with a year ago. Earnings per share were 38.26 HK cents. An interim dividend of 15 HK cents per share was declared. (Sing Tao Finance B4)

Media China (419 HK) will use proceeds for future acquisitions, said chairman after financing. The company will focus on areas of travel resources and new media, two to three projects are expected to be completed next year. (Hong Kong Economic Times A16)

Minmetals Land Ltd (230 HK) and its parent, the mainland’s largest metals trader, aim to raise as much as HK$936 million from a share sale by selling a combined 430 million shares, including 390 million new shares, for between HK$2.45 and HK$2.60 each, to fund land purchases and development. (Hong Kong Economic Times A14)

Modern Beauty Salon Holdings (919 HK) has recorded an interim net loss of HK$44.90 million for the six months ended September 30. Loss per share was 6.21 HK cents. No interim dividend was declared. (Sing Tao Finance B4)

Samson Paper (731 HK) has posted a net profit of HK$30 million for the first half, plunging 19 per cent year-on-year. Earnings per share were 6 HK cents. An interim dividend of 1 HK cent per share was declared. (Sing Tao Finance B4)

Wumart (8277 HK) Stores’ 42 million H shares were sold by Pureheart Asset for HK$514 million at between HK$11.78 and HK$12.23, a 4 per cent to 7.5 per cent discount to its closing price at HK$12.74 yesterday. (Hong Kong Economic Times A16)

Zhaojin Mining (1818 HK) announced that it has granted approval from the Chinese regulatory to issue domestic corporate bonds in an amount of no more than 1.5 billion yuan. (Sing Tao Finance B4)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard