Thursday, December 3, 2009

Hong Kong Stock Market Wrap Dec. 2nd, 2009

C C Land Holdings (1224 HK) announced that it has agreed to sell all its holdings of a Chengdu project for 234 million yuan. It is estimated the deal could fetch a profit of 104 million yuan. (Sing Tao Finance B4)

China Everbright International (257 HK) has signed a cooperation framework agreement with Sugian city in Jiangsu province to build an environmental protection industry park for 1.6 billion yuan within 3 to 5 years. (Sing Tao Finance B4)

Shares of China Forestry (930HK) rose yesterday as much as 8.7 per cent before closing up 5.31 per cent at HK$2.18 in the grey market, according to Phillip Securities. Investors posted a paper gain of HK$220 per board lot of 2,000 shares. (Hong Kong Economic Journal P. 4)

China Shenhua Energy (1088 HK) announced on November 27, its No.4 Power Generation Super-critical Unit of Hebei Guohua Cangdong Power Company Limited with capacity of 660MW has successfully passed 168 hours trial operation and was put into commercial operation simultaneously. (Hong Kong Economic Journal P. 8)

China Strategic (235 HK) and Primus Financial Holdings Ltd are in talks with Taiwan regulators to clarify their concerns on Nan Shan acquisition and said will resubmit an application again next week. (Sing Tao Finance B3)

Emperor International Holdings (163 HK) has posted a net profit of HK$1.32 billion for the first half ended September 30, against a net loss of HK$840 million a year ago. Earnings per share were 73 HK cents. An interim dividend of 4.8 HK cents per share was declared. Meanwhile, its sister company Emperor Entertainment Hotel Limited (0296) has recorded a net profit of HK$51.28 million for the first half, nearly three times more than a year earlier. Earnings per share were 5 HK cents. An interim dividend of 2.5 HK cents per share was declared. (Sing Tao Finance B4)

Fushan International (639 HK) announced yesterday it has acquired 18.7 per cent stake in an Australian iron company Mount Gibson from Shougang Concord International (0697) and APAC Resources (1104). (Hong Kong Economic Journal P. 8)

Huabao International Holdings (336 HK) has recorded an interim net profit of HK$611 million, jumping 18 per cent year-on-year. An interim dividend of 6 HK cents per share and a special dividend of 2.8 HK cents per share were declared. (Sing Tao Finance B4)

Huaneng Power International Inc (902 HK) said the Chinese government has approved its plan to build the largest coal-fired power plant in Xinjiang. The plant will require a total investment of 4.6 billion yuan. (Hong Kong Economic Journal P. 8)

HSBC (5 HK) announced yesterday that it has completed the first cross border settlement in yuan, with cooperation of its strategic partner Bank of Communications (3328). (Hong Kong Economic Journal P. 6)

Rumour has it that ICBC (1398 HK) is in talks to buy 20 per cent stake in Taiwan’s Cathay Financial, the top local listed financial holding group, for as much as US$3 billion (HK$23.25 billion). ICBC and Cathay Financial declined to comment on the rumour. (Sing Tao Finance B3)

Listing candidate PCD’s (331 HK) retail book opens today and its shares will be priced between HK$1.65 and HK$2 each. The company aims to raise as much as HK$3 billion in its initial public offering. The minimum spending for a board lot of 2,000 shares is HK$4,040.36. (Hong Kong Economic Journal P. 4)

Silver Grant International (171 HK) plans to shift its investment focus to energy-based and hopes to acquire a coal mine in Shanxi at between 1 billion yuan to 1.5 billion yuan within two months’ time. (Hong Kong Economic Times A12)

Skyworth Digital Holdings (751 HK), a mainland television maker, has posted a net profit of HK$609 million for the first half ended September 30, surging 530 per cent from a year ago. An interim dividend of 8 HK cents per share was declared. (Sing Tao Finance B4)

Zhaojin Mining Industry (1818 HK) announced that it has bided a 100 per cent stake in Zhaoyuan Canzhuang Gold Mine at a price of no more than 426 million yuan.
(Sing Tao Finance B4)

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