Asia Standard International (129 HK) has recorded a net profit of HK$1.12 billion for the first half ended September 30, surging 11 times from a year earlier. Earnings per share were 96.9 HK cents. An interim dividend of 1 HK cent per share was declared. (Sing Tao Finance B4)
Cathay Pacific Airways (293 HK) announced that its 12,500 staff will receive an average 1.8 per cent pay increase next year. A special bonus of HK$8000 or half of the monthly income is distributed this month. (Hong Kong Economic Times A4)
China Corn Oil (1006 HK) booked HK$1.03 billion in margin financing subscriptions when it opened its retail book yesterday, 14 times its public offering size. (Hong Kong Economic Times A2)
Minsheng Bank (1998 HK) announced that its finance department, which will provide financial services to SME, is approved by the Shanghai regulatory body. The bank said the department will come into service soon. (Sing Tao Finance B4)
CLP Holdings (2 HK) announced a 2.6 per cent rise in electricity charges next year, after cutting its tariff 3 per cent this year. This is the first increase of basic electricity charges in ten years.
(Hong Kong Economic Journal P. 8)
Evergrande Real Estate (3333 HK) chairman Hui Kayan said the company’s accumulated sales have reached 26.27 billion yuan for the first eleven months, exceeding its initial annual sales target of 23.8 billion yuan. The company has set an initial sales target of 40 billion yuan to 45 billion yuan for 2010. (Sing Tao Finance B2)
Hong Kong Electric (6 HK) will freeze its tariff next year after a 5.9 per cent cut this year and will maintain electricity charges for both residential and commercial users for the whole next year. (Hong Kong Economic Journal P. 8)
Kaisa Group (1638 HK) rose 6.67 per cent in grey market yesterday to close at HK$3.68, according to Phillip Securities. Earnings per board lot of 1000 shares were HK$230. (Hong Kong Economic Times A2)
Li & Fung (494 HK) announced that it has signed a global sourcing deal in which it will become the exclusive sourcing agent for the retail firm’s major brands. The agreement covers the Bay, Zellers, Home Outfitters and Lord & Taylor and will take effect next year. (Sing Tao Finance B4)
New Times Energy (166 HK) has signed an MOU to acquire 90 per cent stake in three gold mines located in Hebei for HK$630 million. (Sing Tao Finance B4)
PCD Stores (331 HK), a mainland high-end department store, has frozen HK$13.5 billion as its public offering was about 43 times oversubscribed, a source close to the deal said. (Hong Kong Economic Times A2)
SJM (880 HK) announced that its newly built casino Oceanus, with 260 gambling tables and more than 560 slot machines, will be opened next Tuesday. According to Union Gaming Group, US$591 million has been invested in this project. (Hong Kong Economic Journal P. 14)
Shanghai Forte Land (2337 HK) announced that its contractual sales have reached 1.065 billion yuan in November, surging 3.39 times year-on-year. The contractual sales for the first eleven months amount to 7.57 billion yuan. (Sing Tao Finance B4)
Shanghai Industrial Holdings (363 HK) has agreed to purchase two residential land sites in Shanghai’s Qingpu district and a toll road Hu-Yu Expressway from its parent Shanghai Industrial Investment for HK$2.765 billion. (Sing Tao Finance B4)
Shengli Oil & Gas Pipe (1080 HK) plans to list on the Hong Kong bourse at between HK$1.81 and HK$2.69 to seek HK$1.94 billion. The minimum entry fee is HK$4075.71 per board lot of 1500 shares. (Sing Tao Finance B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
