Hong Kong Stock Market Wrap Jan. 28th, 2010

Bank of Communications Co Ltd (3328 HK), launched its insurance business BoCommLife Insurance Co yesterday, as part of its goal of becoming a full-service financial conglomerate. BoCom will hold a 51 per cent stake in the new joint venture and will increase its capital to 500 million yuan from the initial registered capital of 200 million yuan. (Hong Kong Economic Journal P. 5)

China Energy Development Holdings (228 HK) plans to place 725 million existing shares at a price of HK$0.45 each, a 18 per cent discount on the last trading price, to raise HK$326 million for acquisition. (Sing Tao Finance B3)

China Life Insurance (2628 HK) said its net profit is expected to grow by more than 50 per cent from 2008. It attributed the surge to a recovery in the capital market, growth in investment returns and new accounting rules for insurance contracts. (Sing Tao Finance B3)

China Shipping Container Lines (2866 HK) expects to record a net loss for the year ended December 31 last year due to decrease in freight fee and volume. (Hong Kong Economic Times A16)

CNPC (Hong Kong) (135 HK) announced that it will invest around HK$10 billion this year in developing its natural gas business. Its subsidiary China Natural Gas Corporation also plans to invest 4.1 billion yuan for a natural gas project in Wuhai city in Inner Mongolia, chairman Li Hualin said. (Sing Tao Finance B3)

Datang International (991 HK) projected a whopping 120 per cent earnings hike due to decrease in cost of fuel. (Hong Kong Economic Times A16)

Fantasia (1777 HK) said its contracted sales for 2009 amounted to 3.75 billion yuan. It aims to reach 6 billion yuan contracted sales with a total floor area of 1.4 million square meters this year. (Sing Tao Finance B3)

Gold Peak Industries (40 HK) (Holdings) announced to raise HK$153 million by a rights issue of 235 million shares at a price of HK$0.65 per rights share on the basis of 3 rights shares for every 7 existing shares. The proceeds will be used for general working capital. (Sing Tao Finance B3)

Carmaker Great Wall Motor (2333 HK) expects earnings for the year 2009 to rise by more than 50 per cent than the prior year. (Hong Kong Economic Times A16)

Hang Lung Properties (101 HK) has committed HK$38 billion on prime commercial projects in the mainland. The developer is building two shopping malls in Shenyang and Jinan. Four other projects, including two malls in Tianjin and Dalian, are in the pipeline. (Hong Kong Economic Journal P. 11)

Huaneng Power International (902 HK) said it expects to return to the black in 2009 comparing to a loss of 3.7 billion in 2008. The expected growth is attributable to the drop in fuel cost and rise in electricity price. (Sing Tao Finance B3)

Li & Fung (494 HK) has signed a non-exclusive sourcing deal with Wal-Mart that the US retailer could buy US$2 billion (HK$15.6 billion) worth of goods through the company in the deal’s first year. In addition, the company has granted a call option where Wal-Mart would have the right to transfer 100 per cent of the shares of subsidiaries running the sourcing function to Wal-Mart. (Sing Tao Finance B2)

Pico Far East Holdings (752 HK) has posted a net profit of HK$124 million for the year ended October 31, sliding 27 per cent from a year ago. Earnings per share were 10.35 HK cents. An final dividend of 3.5 HK cents per share was declared. (Sing Tao Finance B3)

SCUD Group (1399 HK) expects to record a net loss for the year ended December 31 last year on decrease in demand and drop in sales due to keen competitions in the middle-low end market. (Hong Kong Economic Times A16)

Silver Grant International Industries (171 HK) has agreed to place new shares to CGNPC International Limited at a price of HK$2.00 apiece, a 27 per cent discount on the last trading price, for HK$728 million. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Jan. 27th, 2010

Cathay Pacific Airway’s (293 HK) chief executive officer Antony Nigel Tyler said the company is considering launching new flight routes, such as Moscow. (Sing Tao Finance, B2)

China Coal Energy (1898 HK) said that its raw coal production in 2009 amounted to 109 million tons, rising 8.2 per cent from a year ago. Self-produced coal production was 101 million tons, surging 10.2 per cent year-on-year. (Sing Tao Finance, B2)

China Railway Construction (1186 HK) announced that its net profit for the year 2009 is expected to grow by more than 50 per cent on increased investment in infrastructure projects on the mainland. (Sing Tao Finance, B2)

Chongqing Iron & Steel (1053 HK) Company said net profit for last year is expected to decrease by over 80 per cent from 598.3 million yuan in 2008. The decrease is attributable to the drop in product price, rise in the cost of fuel and raw materials and slight decrease in sales. (Hong Kong Economic Times A13)

Esprit Holdings (330 HK) announced that it has been granted a five-year loan facility of HK$2.6 billion from 13 lenders to finance the takeover of the brand’s retail business in the mainland from China Resources Enterprise (0291). (Sing Tao Finance, B2)

Far East Golden Resources (1188 HK) Group will soon be renamed as Hybrid Kinetic Group. The group said it is seeking capital from overseas investment for its US hybrid automobile project. (Hong Kong Economic Times A13)

Greentown China (3900 HK) has agreed to sell 49 per cent equity interest in Shanghai Greentown Woods Golf Villas Development Co., Ltd (Shanghai Greentown Project Company) to Zhongtai Trust through Zhongtai Trust's injection of 96.08 million yuan into Shanghai Greentown Project Company. Greentown China will hold 51 per cent stake in the project company after the sale. (Hong Kong Economic Journal P. 9)

Hang Lung Properties (101 HK) has recorded a net profit of HK$5.5 billion for the six months ended December last year, surging 360 per cent from a year earlier. An interim dividend of 17 HK cents was proposed. (Sing Tao Finance, B4)

Megabox (683 HK) under Kerry Properties has recorded a 10 per cent rise in revenue for last year. The group said there were outstanding performances during the golden week and Christmas. It expects a 30 per cent rise in rental this year. (Hong Kong Economic Journal P. 9)

Northast Electric Development (42 HK) said it expects a recovery of about 5 million yuan in accumulative net profit in 2009. The company had a net loss of 69.11 million yuan for 2008. (Hong Kong Economic Times A13)

PetroChina (857 HK) has formed a joint venture with Malaysia’s Petronas and Iraq’s South Oil Company to develop Halfaya Oilfield in Iraq for the next 20 years. PetroChina will hold 37.5 per cent stake in the venture. (Sing Tao Finance, B2)
Shanghai Jin Jiang International Hotels (2006 HK) (Group) Co Ltd announced yesterday it is launching a new hotel brand, the Marvel brand, to tap growing demand from a younger generation of business travelers across the country. (Hong Kong Economic Journal P. 9)

Sino Biopharmaceutical (1177 HK) has signed an agreement with CITIC Securities and China Life (2628) in relation to a top-up placement of 255 million existing shares at a price of HK$2.10 apiece to raise HK$536 million. The proceeds will be used for acquisitions in the future. (Sing Tao Finance, B4)

Tonic Industries (978 HK) announced there will be a debt restructuring and introduction of new cornerstone investors acquiring 931 million new shares with HK$8 million. An amount of HK$3 million non-collateral loan would be provided upon the deal. (Hong Kong Economic Times A13)

Wheelock (20 HK) announced that it has succeeded in bidding a land plot in Fushan together with China Merchants Property Development Company Limited for 680 million yuan with a gross floor area of 3.3 million square foot. The land plot will be jointly developed on a 50:50 ownership basis. (Sing Tao Finance, B2)

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

Hong Kong Stock Market Wrap Jan. 26th, 2010

Brilliance China Automotive (1114 HK) has agreed to acquire 1 per cent stake each in Shenyang XinJinBei Investment and Development Co., Ltd and Shenyang JinBei Automotive Industry Holdings Company Limited for 30 million yuan. The company will hold 100 per cent stake in the latter companies after completing the acquisition.
(Sing Tao Finance B4)

China Gas Holdings (384 HK) announced to acquire all of the issued shares in the share capital of Zhongyu Gas Holdings (8070) at HK$0.1743 each in cash and 0.1512 new share of China Gas. (Hong Kong Economic Times A14)

FIH (2038 HK) issued profit warning and expected results for 2009 ended December 31 to show a significant decline in consolidated net profit as compared to that of the prior year. The expected decline is attributable to lower demand and lower pricing of the group’s products. (Hong Kong Economic Journal P. 8)

Greentown China (3900 HK) has won a land bid in Qingdao for 4 billion yuan. This is the first time for the company to buy land in a public occasion.
(Hong Kong Economic Journal P. 10)

Hang Lung Properties (101 HK) expects its profit for 2009 to rise by 3.7 times to 4.2 times, ranging from HK$5.6 billion to HK$6.2 billion. The company will announce its annual results today. (Hong Kong Economic Times A14)

Imagi International (585 HK) said that it is still in talks with various potential investors in regards to a possible investment in it. No definitive agreement has been reached or entered into, further updates and announcements will be made in due course. (Hong Kong Economic Times A14)

Jia Sheng Holdings (729 HK) announced that it placed 400 million new shares to tycoon Li Ka-shing at a price of HK$0.73 apiece yesterday. Meanwhile, the company has agreed to acquire an electric battery business for HK$2.75 billion, which will be settled by cash, new shares and convertible bonds. (Sing Tao Finance B3)

Jingwei Textile Machinery (350 HK) has agreed to acquire 36 per cent stake in Zhongrong International Trust Company Limited for 1.2 billion yuan. The latter will become a subsidiary of the company as Jingwei holds the right of control after the acquisition. (Sing Tao Finance B4)

Ju Teng International Holdings (3336 HK) plans to spend HK$600 million on a new factory. In addition to seven existing factories, it can produce 72 million units annually. The company hopes its market share to reach 40 per cent in three to five years’ time. (Sing Tao Finance B3)

Kerry Properties (683 HK) and Shangri-La Asia (0069) announced jointly that they have agreed to establish a JV company for potential real estate development projects involving hotel, commercial or residential elements in the mainland. Kerry will nominate three directors and Shangri-La will nominate two to the board of the JV, which will have a business license for a term of 50 years. (Hong Kong Economic Journal P. 10)

Longfor Properties (960 HK) has won a land bid for two pieces of land in Jiangsu for 2.285 billion yuan. The land plots will be used for residential and commercial purposes. (Sing Tao Finance B4)

Nine Dragons Paper (2689 HK) expects its net profit for the six months ended December 31 in 2009 to grow significantly on the rebound of paper industry and growth in sales. (Sing Tao Finance B3)

Orange Sky Golden Harvest Entertainment (1132 HK) said it aims to open 44 cinemas with 351 houses in total by 2012 in the mainland, which is ten times of the current business scope. (Hong Kong Economic Times A14)

Yanzhou Coal Mining (1171 HK) announced that it has signed a provincial thermal coal sales contract with Shandong Province to provide 10.01 million tons of thermal coal this year, representing an increase of 21 per cent of the total thermal coal sales compare with last year. (Sing Tao Finance B4)

ZTE Corporation (763 HK) has agreed to signed a network supply agreement and a managed services agreement with Cell C (PTY) Limited, a mobile telecom operator in South Africa, to supply GSM/UMTS network turnkey solutions and operations services for US$378 million. (Sing Tao Finance B4)

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

Hong Kong Stock Market Wrap Jan. 25th, 2010

Agile Property (3383 HK) announced that it has been granted a term loan facility in the amount of US$125 million for three years. (Hong Kong Economic Journal P. 8)

Bank of China Hong Kong (2388 HK) is planning for a US$1.5 billion subordinated debt issue so to partially repay to parent a US$2.5 billion shareholder loan from 2008. (Hong Kong Economic Journal P. 2)

China Aoyuan Property Group (3883 HK) plans to sell homes of a luxury project “The Chang'an Avenue” in Beijing at an average price of 80,000 yuan per square meter. It is expected that the project can bring in 13 billion yuan if all units are sold. (Sing Tao Finance B2)

China Nickel Resources Holdings (2889 HK) expects to have 12,000 tons nickel production this year as its nickel project in Lianyungang has started production in June. (Sing Tao Finance B3)

China Oil & Gas (603 HK) plans to place 500 million existing shares at a price of HK$1.25 apiece to raise as much as HK$566 million. (Hong Kong Economic Times A14)

Far East Golden Resources Group (1188 HK) plans to acquire three A-share firms to raise financing for its new energy automobile project. Approval from one of the three firms has been granted. (Hong Kong Economic Times A14)

Foxconn International Holdings (2038 HK) expects a significant decline in its consolidated results for the whole year of 2009, though there has been encouraging improvement in the second half. (Sing Tao Finance B2)

Rumour has it that the debt-ridden Fu Ji Catering (1175 HK) has found the white knight as national committee member Huang Yinghao and chain restaurant Tan Yu Tou chair Tan Changan plan to buy it out. Huang said he is interested in buying partial Fu Ji Catering stake but refused to reveal details of the deal. (Hong Kong Economic Journal P. 4)

HKR International (480 HK) announced to sell stake in BC Investment, an investment vehicle, to Cagen for HK$144.3 million. The proceeds will be used as working capital for the group’s core business projects in Hong Kong and Shanghai. (Hong Kong Economic Journal P. 8)

HSBC (5 HK) yesterday promoted group general manager Anita Fung to head of global banking and markets, Asia-Pacific, with immediate effect. Fung will directly report to Peter Wong Tung-shun, chief executive of Hong Kong and Shanghai Banking Corporation. (Hong Kong Economic Journal P2)

Longfor Properties (960 HK) had won a bid of two plots in Changzhou with a gross floor area of 384,700 square meters for 2.28 billion yuan. (Hong Kong Economic Journal P. 8)

Pearl Oriental (632 HK) Innovation has agreed to acquire 70 per cent stake in Utah gas and oil field in the US. The payment will be settled by US$50 million in cash and an issuance of new shares at HK$1.38 apiece. The company preserves a right to acquire the rest stake for US$250 million in two years’ time. (Sing Tao Finance B2)

Sijia Group (1863 HK), a Fujian-based polyester fabric composite material producer, is set to launch its Hong Kong initial public offering today with an entry fee of HK$4171 per board lot of 1000 shares. (Sing Tao Finance B2)

Smartone Telecommunications Holdings (315 HK) started selling iPhone last Saturday, being the second telecommunication company offering iPhone package in Hong Kong. The company expects to sell more than 5,000 units of iPhone in the first launching day. (Hong Kong Economic Journal P10)

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

Hong Kong Stock Market Wrap Jan. 22nd, 2010

IPO: Chu Kong Steel Pipe plans to list on the Hong Kong bourse by issuing 300 million shares at an offer price ranging from HK$4.50 to HK$6.15 with an entry fee of HK$6212.05 per board lot of 1000 shares. The company plans to raise as much as HK$1.845 billion. (Hong Kong Economic Journal P4)

Cheung Kong (1 HK) subsidiary Grandwood Investments has won the contract for the Urban Renewal Authority’s joint development project in Sham Shui Po. (Hong Kong Economic Journal P. 3)

China South City Holdings (1668 HK) plans to develop a land plot in Jiangxi Nanchang for HK$8 billion. The project will be divided into three phrases and is expected to be completed in 2012. (Sing Tao Finance B3)

C Y Foundation (1182 HK) said it was informed by solicitors of substantial shareholder Luck Continent Limited on January 22 that the talks on the possible acquisition of all or part of the shares and warrants of the latter in the company with the potential purchaser have just been terminated as Luck Continent Limited had not received any firm written offer from such potential purchaser. No agreement has been reached between the parties. (Hong Kong Economic Times A8)

Evergrande Real Estate (3333 HK) announced to issue US$750 million (HK$5.8 billion) senior notes due 2015. The estimated net proceeds amount to approximately US$730 million. (Sing Tao Finance B3)

Guoco Group’s (53 HK) subsidiary Hong Leong Bank proposed to acquire a Malaysian banking group EON Capital Bhd with HK$11.2 billion. If accepted, the merged bank group will become the fourth largest in Malaysia. (Sing Tao Finance B3)

Jiahua Stores Holdings (602 HK) said it is likely to record a lower profit for the year ended December 31 in 2009 due to general decline in local consumption power and effects of renovation of certain existing stores. (Hong Kong Economic Times A8)

Singamas Container Holdings (716 HK) said it expected a significant net loss for last year, compared with a profit for 2008, because demand for shipping containers fell with China’s exports. (Hong Kong Economic Times A8)

China Everbright International (257 HK) has signed an investment cooperation framework with Anhui government to develop green industry there. (Hong Kong Economic Times A12)

China Railway Group (390 HK) said it has been approved by regulatory to issue corporate bonds worth of six billion yuan on the mainland. (Hong Kong Economic Times A12)

China SCE Property Holdings (1966 HK) plans to issue 600 million new shares at an offer price ranging from HK$2.60 to HK$3.30 with an entry fee of HK$3333.3 per board lot of 1000 shares. The developer plans to raise up to HK$2 billion for present property projects and general working capital. (Sing Tao Finance B14)

CNNC International (2302 HK) has agreed to buy 37.2 per cent stake in Azelik uranium mining project in Niger from state-owned parent China Uranium Corp for HK$414 million. Production is expected to start in the second half of the year. (Hong Kong Economic Times A12)

NWS Holdings (659 HK) hopes its infrastructure construction business to account for 80 per cent of its businesses and expects its railway container centre station to generate HK$6 billion to HK$7 billion revenue in the future. (Hong Kong Economic Journal P8)

UC Rusal (486 HK) is sued by the Guinean government for a compensation of US$860 million (HK$6.67 billion) as the Guinean minister of mines accuses UC Rusal of not being “truly transparent about all the facts” in the share prospectus. UC Rusal spokesman said there is no need to provide additional information as it has already provided sufficient information about this dispute in its IPO document. (Sing Tao Finance B14)

Shandong gold miner Zhaojin Mining Industry (1818 HK) has entered into a framework agreement to jointly develop a gold mine in Fengcheng city, Liaoning province. It plans to spend up to 200 million yuan to expand the ore processing capacity. (Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap Jan. 21st, 2010

Bestway (718 HK) said it is placing 1 billion shares at most at HK$0.3 apiece to raise HK$282 million for working capital and exploiting business investment. (Sing Tao Finance B2)

China Railway Group (390 HK) announced that it expects a 400 per cent profit growth for 2009. The company earned 1.115 billion yuan in 2008. (Sing Tao Finance B3)

CNPC’s (135 HK) subsidiary Huayou has signed an investment agreement with Wuhai government to establish a co-operation relationship by investing 4.1 billion yuan in the establishment of a composite utilization project on reduction of coke oven gas emission in Wuhai City of Inner Mongolia. (Sing Tao Finance B2)

Evergrande Real Estate (3333 HK) might offer a five-year US$750 million (HK$5.85 billion) worth of bond at a yield of 13 per cent, a market source said. It has been previously said that the bond will have a size of US$500 million. (Hong Kong Economic Journal P. 10)

Hopson Development (754 HK) announced that its executive director and chief executive officer Chen Chang Ying has resigned and Liao Ruoqing was appointed as an executive director with effect from yesterday. (Sing Tao Finance B2)

Huadian Power International (1071 HK) said it expects a profit for 2009, compared to the loss of 2.558 billion yuan a year ago. The expected profit is mainly due to the decrease in the price of electrical coal. Adjustments in power and heating tariffs also boosted the sales revenue, the company says. (Hong Kong Economic Times A11)

Joyce Boutique Holdings’ (647 HK) shareholder the Ng family, which holds 52 per cent stake in the company, plans to privatise the company by acquiring stake held by another substantial shareholder. Trading of the company was suspected yesterday. (Sing Tao Finance B2)

K. Wah International (173 HK) said Vantage Plus Investment, a joint venture formed with Sino Land (0083) for the development of a property project in Tai Po, had obtained a loan facility of HK$4.275 billion. (Hong Kong Economic Journal P. 10)

Meike International Holdings (953 HK), a Fujian-based sportswear brand, was 150 times oversubscribed as brokerages got margin financing orders of about HK$5.5 billion yesterday. (Sing Tao Finance B2)

Pacific Andes International (1174 HK) has posted a net profit of HK$174 million for the six months ended September 28 in 2009. Earnings per share were 7.1 HK cents. A final dividend of 1.7 HK cents per share and a bonus warrant for every five existing shares were proposed. (Sing Tao Finance B3)

Shimao Property (813 HK) announced that the board of directors has approved a reduction of amount to be raised from the proposal of non-public issue of not more than 150 million new A shares, after deduction of issuance expenses, from not exceeding 2 billion yuan to not exceeding 1.7 billion yuan. (Hong Kong Economic Journal P. 10)

Sino Dragon New Energy Holdings (395 HK) plans to place 100 million existing shares at a placing price of HK$0.495 each, a 8.33 per cent discount on its last trading price, to raise about HK$48.40 million. (Sing Tao Finance B2)

As of yesterday, SOHO China (410 HK) had already booked sales of about 1.3 billion yuan after selling just one-third of the 52-story skyscraper on Nanjing Road W., Pan Shiyi, chairman of SOHO China, said in Shanghai. (Hong Kong Economic Journal P. 10)

TC Interconnect (515 HK) said it is placing 48 million shares at HK$1.3 apiece, an 18 per cent discount on its closing price, and selling 35 million units of 1-year warrant with a HK$1.45 exercise price for 5 HK cents per share, to raise HK$64 million for working capital. (Sing Tao Finance B2)

Yue Yuen Industrial (551 HK) has recorded a net profit of US$465 million (HK$3.61 billion) for 2009, sliding 0.84 per cent from a year ago. Earnings per share were 28 US cents. A final dividend of HK$0.55 per share was declared. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Jan. 20th, 2010

China Lilang (1234 HK) said annual sales for 2009 surged 15 per cent while that for the fourth quarter jumped 20 per cent. The menswear company eyes opening 300 to 400 outlets this year, raising the total to as much as 3000. It also plans to develop a new line ‘L2’ aiming at young consumers. The fashion firm said it is in talks with several brands for acquisitions. (Hong Kong Economic Times A11)

China Mobile (941 HK) said only 4.238 million new subscribers were added in December last year, hitting through in 3 years. For the same period, the number of 3G users was 3.41 million, surging 0.432 million from a month earlier. The total number of new subscribers for 2009 totalled 65 million with an average monthly subscriber of 5.42 million. (Sing Tao Finance B3)

Sources said international placed shares of China SCE Property (1966 HK) has been fully subscribed and the group plans to offer shares at HK$2.60 to HK$3.33 apiece, with an entry fee of HK$3363 per board lot of 1000 shares. (Hong Kong Economic Journal P. 12)

China Southern Airlines (1055 HK) announced that it expects to record a profit in 2009 after a net loss in 2008. The company has agreed to buy 20 Airbus A320 aircrafts with a list value of US$1.54 billion. (Sing Tao Finance B3)

Parent of China State Constriction International (3311 HK) announced that it expects to record an 80 per cent surge in profit for 2009, compared to the 2.74 billion yuan profit a year earlier. The gain is attributable to improvement in global and mainland economy, rising investment in fixed assets and increasing income from construction and property. (Hong Kong Economic Journal P. 12)

China Telecom’s (782 HK) CDMA users rose to 3.1 million in December 2009, adding 30,000 users compared with that in November. The total number of new users amounted to 28.18 million for the whole year in 2009. Local telephone line users totalled 188.6 million while broadband users was 53.46 million. (Sing Tao Finance B3)

Macau casino operator Galaxy Entertainment (27 HK) has posted a net profit of HK$3.455 billion for the fourth quarter in 2009, surging 78 per cent year-on-year. The company expects its new project in Cotai to open in the first quarter next year. (Sing Tao Finance B4)

HSBC Holding Plc (5 HK) injected US$700 million in fresh capital into its Mexican unit to fuel growth, chief executive Luis Pena said on Tuesday. The additional cash will allow HSBC to grant more credit in Mexico and revamp most of its bank offices across the country over the next three years, he added. (Hong Kong Economic Times A11)

Imagi International (585 HK) is in talks with various potential investors in regards to a possible investment in the company and it has received a non-binding written offer from one of potential investors. The company targets to attract new investment of as much as HK$250 million in aggregate in order to finance its new business strategies and working capital or restructuring its debts. (Hong Kong Economic Times A11)
Orient Overseas (International)’s (316 HK) chairman Tung Chee-chen said the company is seeking opportunities for merger and acquisition with the HK$17.1 billion in cash raised from sales of its China property assets. Meanwhile, the company has recorded a net profit of US$1.07 billion for the fourth quarter of 2009, dropping 22 per cent from a year ago. Its total revenue was US$3.84 billion in 2009, plunging 35 per cent year-on-year. (Sing Tao Finance B3)

Sinofert (297 HK) issued a profit warning and expected to record a loss in the second half of and throughout the financial year of 2009. The expected loss was due to the impact of global financial crisis on overall operating environment and significant decrease in domestic demand and price of potash fertilizer, which in turn leads to a corresponding decrease in the sales volume and operating gross profit.
(Hong Kong Economic Times A11)

Skyworth Digital (751 HK) announced that it sold 1.065 million units of TV in December last year, edging up 2 per cent compared to the sales a year ago. The sales during April to December in 2009 were down 7 per cent on the year. (Hong Kong Economic Times A11)

The public offering of SouthGobi Energy Resources (1878 HK) shares were oversubscribed for 20 times, locking up HK$7.8 billion when it closed its retail books yesterday, according to market sources. (Sing Tao Finance B4)

Tianyi Fruit Holdings (756 HK) announced that its unaudited consolidated profit for the six months ended December 31 rose by 50 per cent on a year-on-year basis. Meanwhile, the company’s chairman Sin Ke said it is planning to enlarge its production capacity in Hainan and to enter the Russian market. (Sing Tao Finance B3)

Xtep International (1368 HK) plans to open 800 to 1000 branches in second and third tier cities of China. The company has signed an agreement with Birmingham International Holdings Limited (2309) for sponsorship from August this year to May 2015 for Birmingham City Football Club. It will also provide about HK$10 million worth of sportswear products for the club. (Sing Tao Finance B4)

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

Hong Kong Stock Market Wrap Jan. 19th, 2010

Air China (753 HK) expects to record a profit for 2009 due to stable growth in mainland market and lower oil price. The company has recorded a loss of 9.25 billion yuan for 2008. (Sing Tao Finance B2)

Fuel-oil importer Brightoil Petroleum (933 HK) plans to buy up to eight vessels for a total of US$500 million to expand its marine transportation business, Chairman Sit Kwong-lam said on Tuesday. (Hong Kong Economic Times A12)

China Aoyuan Property (3883 HK) announced that its property sales has reached 2.88 billion yuan with a sold floor area of 589,100 square meters, surging 2.1 times compared with the prior year. Land reserve amounted to 9.5 million square meters by the end of 2009, which is sufficient for development in the coming five to seven years. (Sing Tao Finance B3)

China COSCO Holdings (1919 HK) said it has raised its shipping fees and fuel surcharges since January. The shipper expects to have a remarkable growth in its financial result this year. (Sing Tao Finance B3)

Sources said that China SCE Property (1966 HK) has attracted institutional investors, such as Macquarie, Ping An Insurance (Group) Company of China, Ltd (2318) to purchase shares in its initial public offering. Li Ka-shing, chairman of Cheung Kong Holdings (0001) would also purchase its shares for HK$100 million, becoming an anchor investor of the company, according to sources. (Sing Tao Finance B2)

China Unicom (762 HK) said number of its 3G subscribers for December has risen 0.92 million to 2.74 million, while subscribers of 2G network rose 0.64 million to a total of 144 million. (Hong Kong Economic Times A12)

Green Global Resources Limited (61 HK) announced to acquire nearly entire stake in Golden Pogada from China Railway Mongolia at no more than HK$200 million by way of the issue of new shares at a price of not less than HK$3.8 per share. (Hong Kong Economic Journal P. 6)

Chairman of Fountain Set (420 HK) Ha Chung Fong has sold no more than 25 per cent existing shares of the company to an independent party. The negotiation of this transaction is at the initial stage but this potential buyer has been confirmed by the regulatory. (Sing Tao Finance B3)

New Times Energy Corporation (166 HK) plans to issue 1.065 billion shares at a price of HK$0.31 apiece, a 10 per cent discount on its last trading price, to raise about HK$330 million for future investment. (Sing Tao Finance B2)

Shanghai Industrial Holdings (SIH) (363 HK) announced to acquire 500 million shares of Neo-China Land Group (0563), whose trading has been suspended for two years, for HK$1.16 billion or HK$2.32 per sale share. SIH has also subscribed 684 million new shares of Neo-China Land at the same price. (Hong Kong Economic Times A12)

Sijia Group (1863 HK), a mainland producer of reinforced materials and biogas tanks, is planning to issue 200 million new shares to raise up to 826 million at a price ranging from HK$2.69 to HK$4.13 per share. Entry fee amounts to HK$8343 per board lot of 2000 shares. (Sing Tao Finance B2)

Olympian City of Sino Land (83 HK) expects pedestrian traffic numbers to increase 13 per cent to 18 million over the next two months and sales to hit about HK$460 million, said Sino Group general manager for retail marketing and promotions Irene So Kit-lin. (Hong Kong Economic Journal P10)

Standard Chartered (2888 HK) said it has gained approval from mainland authority to be a market maker in China’s interbank bond market, the third such approval since the units of foreign institutions were first allowed to provide the service last year. (Hong Kong Economic Journal P6)

TC Interconnect (515 HK) has agreed to form a joint venture company for operation and management of energy saving projects and LED lighting. The company has invested HK$85.40 million in the joint venture, holding 51 per cent of the company. (Sing Tao Finance B2)

I-Cable’s sister company Wharf T&T (4 HK) will invest HK$1 billion to expand its fixed-network infrastructure and develop IT as a service for business customers. President Vincent Ma aims to increase the telecom service provider’s market share in business broadband service from lower than 10 per cent to 25 per cent in 2013 at the earliest. Network coverage for commercial buildings will grow from 60 per cent to over 95 per cent. (Hong Kong Economic Journal P. 6)

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

Hong Kong Stock Market Wrap Jan. 18th, 2010

Aluminum Corp of China Ltd (2600 HK) announced yesterday that the company expected results to sink into the red for 2009 due to declining demand for aluminum and excess production capacity in the industry. (Sing Tao Finance B4)

Bio-Dynamic Group (39 HK) plans to place 103 million existing shares at HK$0.4 apiece to raise HK$40 million, a 12 per cent discount to its last closing price. (Sing Tao Finance B2)

Rumour has it that China Gas (384 HK) plans to acquire Zhongyu Gas Holdings Ltd (8070). Zhongyu’s market capitalisation is at HK$1.73 billion before yesterday’s suspension of its shares, which last traded at HK$0.89. Spokesmen of both companies declined to comment. (Sing Tao Finance B4)

China Life (2628 HK) said its premium income was about 295 billion yuan last year, compared with 295.6 billion yuan in 2008, dropped by 0.2 per cent slightly. (Hong Kong Economic Times A13)

Hisense Kelon Electrical (921 HK) said it expects to report a net profit of 150 million yuan in 2009, reversing a year-ago loss of 226.7 million yuan. The profit was attributable to cost-control measures of the company, a relatively stable exchange rate and a year-on-year decline in loss in exchange. (Hong Kong Economic Times A13)

Honghua Group (196 HK) has issued a profit warning and expected to record a loss for the year ended December 31 last year as compared to a consolidated profit recorded for the corresponding period in 2008. The board believes that such loss is mainly attributable to the significant drop in turnover as a result of the continuing adverse effect of the global financial crisis. (Hong Kong Economic Times A13)

Meike International Holdings (953 HK), a mainland’s sportswear company, opens retail books today to raise up to HK$357.5 million by floating 250 million shares at between HK$1.20 to HK$1.43 each. Entry fee is set at HK$2888 per board lot of 2000 shares. (Sing Tao Finance B1)

Mongolia Energy Corporation (276 HK) announced that it has signed a 10-year long-term coal supply agreement with Baosteel Bayi, a subsidiary of Baosteel Group, to supply up to 10 million tons of Khushuut coking coal to the latter. (Sing Tao Finance B4)

Orient Overseas (International) Ltd (316 HK) has agreed to sell its stake in seven mainland property projects with a total floor area of 1.45 million square meters for US$2.2 billion (HK$17.16 billion) to Singapore developer CapitaLand. The company expects to book a profit of about US$1.06 billion (HK$8.2 billion). (Sing Tao Finance B2)

The fixed-line telecom operator PCCW (8 HK) yesterday announced its intention to proceed with its plan to operate free television services in Hong Kong. It is the third candidate in less than a month to challenge the current duopoly. (Hong Kong Economic Times A12)

Publuc Financial Holdings (626 HK) has recorded a profit of HK$275 million for 2009, diving 23 per cent compared with that in 2008. The company expects a difficult condition in the first half of this year. (Hong Kong Economic Times A13)

Rumour has it earlier that there will be a possible placing out of the holdings of Nina Wang. RCG (802 HK) announced yesterday that it is not aware of any reasons for such developments. (Hong Kong Economic Journal P. 8)

The contracted sales of mainland developer Sino-Ocean Land (3377 HK) amounted to 14 billion yuan last year with an average selling price of 10,000 yuan per square meter. The developer expects to have a 30 per cent to 40 per cent growth in sales this year.
(Sing Tao Finance B2)

Xiwang Sugar (2088 HK) placed 135 million shares through a top-up placement yesterday to raise as much as HK$399 million. (Hong Kong Economic Journal P. 6)

Xtep International (1368 HK) announced that it has agreed to sponsor English Premier League team Birmingham City FC for HK$90 million from 2010 to 2015. The company will also supply the team with HK$10 million worth of training gear bearing the joint “Xtep-BCFC” logo in the deal. (Sing Tao Finance B4)

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

Hong Kong Stock Market Wrap Jan. 15th, 2010

IPO: The Macau casino joint venture between MGM Mirage Inc. and a scion of the city’s top casino-owning family has begun the process of vetting investment banks to work on a Hong Kong initial public offering that could raise up to US$1 billion, a report said Friday. (Hong Kong Economic Times A9)

Air China (753 HK) said it would gain 1.5 billion yuan injection from parent for the acquisition of stakes in its cargo business. (Hong Kong Economic Journal P. 4)

China Eastern Airlines (670 HK) said results for last year was back to the black due to recovery of the industry, drop in fuel price and support from government policies. The loss in 2008 amounted to 15.2 billion yuan. (Sing Tao Finance B11)

China Pacific Insurance (2601 HK), the country’s third-largest life insurer, said its life insurance premium income and property insurance in 2009 was 67.6 billion yuan and 34.2 billion yuan respectively. (Hong Kong Economic Times A9)

SALES DOUBLE China Resources Land (1109 HK) announced that its contracted sales for 2009, amounting 2.156 million square meters, has reached 25 billion yuan, rocketing 2.19 times year-on-year. (Sing Tao Finance B11)

Guangdong Nan Yue Logistics (3399 HK) said its results for the 12 months ended December 31 last year is expected to decline significantly as compared to that for the same period in 2008 and a loss is expected to incur. The expected loss is mainly due to the impairment provision to be made in respect of the significant risk of prepayments made by the group to three enterprises in Tangshan for purchase of steel. (Hong Kong Economic Times A9)

Kam Hing International (2307 HK) announced it has placed 30 million shares at HK$2.3 apiece to raise HK$64.9 million, a 6 per cent discount on the closing price yesterday. The proceeds would be used as working capital and for development of its Madagascar Iron ore project. (Sing Tao Finance B11)

Artini China (789 HK), a retail chain operator and fashion accessories maker, said it will issue HK$20 million worth one-year, zero-coupon convertible bonds to South Africa-based Standard Bank to raise HK$18.5 million for general working capital. (Hong Kong Economics Times A14)

Asia Energy Logistics Group (351 HK) plans to place 1.5 billion existing shares and subscribe 1.5 billion new shares at HK$0.159 each to raise HK$230 million. (Hong Kong Economic Journal P4)

BBMG (2009 HK) has agreed to acquire cement and real estate projects from its substantial shareholder BBMG Group Company Limited for 1.496 billion yuan. Meanwhile, the company has changed the use of proceeds and redistributed 34 per cent of them for acquisition and general working capital. (Hong Kong Economics Times A14)

China Aoyuan Property Group (3883 HK) announced that sales in Chongqing Aoyuan City of Health reach 1.428 billion yuan, with 3414 units amounting to a total floor area of 332,800 square meters. (Sing Tao Finance B13)

China Grand Pharmaceutical & Healthcare (512 HK) plans to raise HK$86.5 million by placing 200 million shares at HK$0.45 per share, a 30.8 per cent discount on the closing price on the last trading price. (Hong Kong Economic Journal P4)

Huafeng Group (364 hK) announced that its net profit for 2009 was HK$132.7 million, surging 46 per cent from a year ago. Earnings per share were 10.7 HK cents. A final dividend of 0.5 HK cent per share was declared. (Sing Tao Finance B13)

Huaneng Power International (902 HK) plans to raise no more than 10.3 billion yuan by selling 1.2 billion and 400 million new A and H shares respectively. The prices have been preliminarily fixed at 7.13 yuan per A share and HK$4.97 per H share. (Hong Kong Economics Times A12)

Winbox International (474 HK) plans to place 554 million new shares at HK$1.26 apiece to raise HK$666 million. (Hong Kong Economics Times A14)

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

Hong Kong Stock Market Wrap Jan. 14th, 2010

Management of Bank of China (3988 HK), quoted by JP Morgan, said the bank has not yet decided the scale of financing. Its financing plan will be determined by the central government since it will affect the balance of interest of Ministry of Finance, Central Huijin Investment and Social Security fund. (Sing Tao Finance B2)

Bawang International’s (763 HK) substantial shareholders the Chens plan to place 150 million existing shares at a price ranging from HK$5.00 to HK$5.15 apiece to raise up to HK$772.5 million, sources said. If the market responds actively, they will place up to 200 million existing shares to raise HK$1.3 billion at most. (Sing Tao Finance B5)

China Green (904 HK) said the net profit for the first half ended October 30 has risen by 26 per cent compared with a year ago. Profit margin for the first half amounted to 51.8 per cent, surging 0.6 per cent year-on-year. The company expects the price to grow up to 8 per cent for the fiscal year ended in April. (Sing Tao Finance B5)

Envir Energy (8182 HK) said it expects to spend US$3 million to analyze and develop a drilling project in Xinjiang. The expenditure this year would exceed that in 2008 and 2009. (Hong Kong Economic Journal P. 8)

Rumour has it that Evergrande Real Estate (3333 HK) is marketing a five-year US$500 million (HK$3.9 billion) worth of bond. The group clarified that they have no such plan at this stage; details would be announced at the end of this month at the earliest. (Hong Kong Economic Journal P. 12)

Jackin International (630 HK) plans to place 210 million shares at a price of HK$0.95 per share to raise HK$193 million, a 19 per cent discount on the closing price on the last trading day. The proceeds will be used for the initial costs of its new projects. (Sing Tao Finance B4)

Kaisa Group (1638 HK) said the contracted property sales reached 900 million yuan in December, surging 152 per cent from a year ago. The developer said about 60 per cent sales came form projects in Pearl River Delta. (Sing Tao Finance B2)

Kingboard Chemical (148 HK) announced to spin-off its coke and coke-related chemicals business in Hebei province. The proposed spin-off, approximately 10 per cent of the global offering, will be available for subscription by qualifying shareholders at the offer price under the preferential offer. (Hong Kong Economic Journal P. 8)

PetrolChina (857 HK) said turnover of the company in 2009 beats expectation. Its oil and natural gas reserve have surged to make the year the fifth highest since the establishment of China. The oil gas field in Changqing also exceeds 30 million tons, becoming the second largest oil gas field in the mainland. (Hong Kong Economic Times A16)

Ping An Insurance (2318 HK) said it has no plan of financing through stock market. Yet, the company’s subsidiaries may consider to raise fund through issuing bonds. (Sing Tao Finance B2)

SouthGobi Energy Resources (1878 HK) starts its initial public offering today. The offer price is HK$133.5 per share or HK$6742.35 per board lot of 50 hares. The company will go listed on the Hong Kong bourse on January 29. CIC and Temasek have subscribed its shares for US$50 million each. (Sing Tao Finance B3)

Sun Hung Kai Properties (16 HK) announced that it has appointed Dr. Fung Kwok-lun, William as an independent non-executive director of the company with effect from February 1. Dr. Fung is also an independent non-executive director of several listed companies. (Hong Kong Economic Times A16)

Skin-care product retailer Water Oasis Group (1161 HK) has hired veteran investment banker and CVC Greater China chairman Francis Leung Pak-to as adviser for possible acquisitions in the mainland and finding strategic partners. The announcement came as the firm reported earning HK$80.99 million for the year to last September 30, 13.69 per cent from a year earlier, with its China retail business the key driver. A final dividend of 10 HK cents and a bonus per share were recommended. (Hong Kong Economic Journal P. 8)

ZTE Corporation (763 HK), the mainland’s second-biggest telecom equipment producer, raised around HK$2.59 billion for general working capital by placing 58.29 million new H shares, the company said. The shares were sold at HK$45 each, a 13 per cent discount on the closing price of HK$51.70 on Wednesday. (Hong Kong Economic Journal P. 6)

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

Hong Kong Stock Market Wrap Jan. 13th, 2010

Aeon Stores (Hong Kong) (984 HK) announced that a new department store with a floor area of 120,000 square meters will be opened in Megabox in the middle of the year. The company plans to invest HK$30 million in the project. (Sing Tao Finance B4)

Alibaba (1688 HK) said sales by its subsidiary Taobao hit 200 billion yuan last year and is believed to reach 400 billion yuan this year. (Sing Tao Finance B4)

Cheung Kong (1 HK), controlled by billionaire Li Ka-shing, is about to invest US$100 million in UC Rusal’s initial public offering in Hong Kong. (Sing Tao Finance B5)

China Daye Non-ferrous Metal Mining (661 HK) said it expects a decline on the group’s results for the six months ended October 31 last year due to share base payments recognized in the income statement. (Hong Kong Economic Times A12)

China Strategic (235 HK) and Primus Financial, a consortium filed its second application on Tuesday on its acquisition of American International Group Inc’s Taiwanese insurance unit, are requested by the Taiwan regulatory to provide photocopy of passports to prove whether its HK$7.8 billion capital is from mainland. (Sing Tao Finance B4)

China Windpower (182 HK) announced that it has five new wind power plants kicked off on-grid power generation last month. The company had 12 wind power plants in operation with a total installed capacity of 566MW. (Sing Tao Finance B4)

Emperor Watch & Jewellery (887 HK) plans to place 450 million new shares at a price of HK$0.51 per share to raise HK$227 million, a 3.77 per cent discount of its closing price yesterday. The proceeds will be used for the expansion of its sales network in Hong Kong, Macau and the mainland. Meanwhile, the company said it is also planning to issue convertible bonds. (Sing Tao Finance B5)

Geely Automobile (175 HK) said its sales in December surged 108 per cent from a year earlier to a record of 43,400 units. Unaudited sales for 2009 rose 59 per cent to 325,400 units, exceeding its sales target by 30 per cent, the company said in a statement. (Hong Kong Economic Times A12)

Good Friend International (2398 HK) announced that it has obtained the required approvals from Taiwan authorities for the offering and listing of TDR on the Taiwan Stock Exchange. The company plans to issue 67.2 million new shares and each TDR represents 1 new share. (Hong Kong Economic Times A12)

Hopson Development (754 HK) said it will launch 15 projects for sales this year and expects the sales to exceed 10 billion yuan so to boost the group’s sales up by at least 30 to 50 per cent. (Hong Kong Economic Journal P. 10)

Huadian Power International (1071 HK) announced that the power generated by its group companies for 2009 was 107.47 million MWh, representing an increase of 6.75 per cent compared with the prior year. The growth of power generation was mainly attributable to the power generated by the newly operated generating units. (Hong Kong Economic Journal P. 9)

Kerry Properties (683 HK) is launching Island Crest in Sai Ying Pun at HK$12,000 per square foot, representing an entry fee of HK$5 million. The developer will launch Island Crest II in the second quarter and expects a revenue of HK$6 billion from the two projects. (Hong Kong Economic Journal P. 10)

Ping An Insurance (2318 HK) said it would raise proportion of bond investment this year such as enterprise bonds as it expects inflation to boost up the rate of return of bonds. (Hong Kong Economic Journal P. 9)

Shimao Property’s (813 HK) contracted sales last year amounted to 22.5 billion yuan, exceeding the original target of 22 billion. The developer has raised the target for this year by 36 per cent to 30 billion. (Hong Kong Economic Journal P. 10)

TCL Multimedia (1070 HK) said it has sold 8.42 million units of televisions last year, a double of that in the previous year. Sales in December recorded 1.27 million units, the highest in 2009. (Hong Kong Economic Journal P. 9)

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

Hong Kong Stock Market Wrap Jan. 12th, 2010

BYD (1211 HK) said it plans to enter the US market in the second half to promote electronic vehicles. Each electronic car will be sold for no more than US$40,000 (HK$310,000), the sale would be launched by November. (Hong Kong Economic Times A12)

Cathay Pacific Airways (293 HK) is expecting increasing passenger volumes and cargo tonnage this year as there has been a V-shaped rebound since November last year. The company plans to buy five new planes this year including four Boeing 777-300 and an Airbus 330-300 to raise its capacity. (Sing Tao Finance B1)

China Green (904 HK) has posted a net profit of 280 million yuan for the first half ended October 30 last year, surging 25 per cent year-on-year. An interim dividend of 0.09 yuan per share was declared. (Sing Tao Finance B2)

China Life Insurance (2628 HK) said it has accumulated 423 million existing shares of Sino-Ocean Land Holdings Ltd (3377), it now holds 24.08 per cent stake in the latter, being the largest substantial shareholder of the company. (Sing Tao Finance B4)

China Railway Group (390 HK) announced its subsidiary has won two projects in Chengdu and Pengzhou in an auction for 243 million yuan in total. (Hong Kong Economic Journal P. 13)

China SCE Property (1966 HK) is planning to sell up to 690 million new shares to raise HK$2 billion in an initial public offering ahead of listing in Hong Kong, according to market sources. (Hong Kong Economic Journal P. 6)

China Strategic (235 HK) and its partner Primus Financial Holdings resubmitted an application of acquiring Nan Shan Life to the Taiwan regulatory yesterday, according to Taiwan media. (Sing Tao Finance B3)

China Taiping Insurance (966 HK) said the 2009 accumulated premium income of its subsidiary, Taiping Life Insurance, amounted to 22.58 million yuan. (Hong Kong Economic Times A12)

Greentown China (3900 HK) announced contracted sales for the period ended December 31 last year reached 8.4 billion yuan, surging about 300 per cent year-on-year. The total sales in 2009 amounted to 52.9 billion yuan, a 3.39 times compared with a year ago. (Sing Tao Finance B2)

Kaisa Group (1638 HK) has bought two pieces of land in Jiangyin and Shenyang in a land bid for 629 million yuan. The land plot in Jiangyin is a commercial land worth 100 million yuan with a floor area of 79,000 square meters while the Shenyang plot amountsto 529 million yuan with a floor area of 21,400 square meters. (Sing Tao Finance B2)

PICC Property and Casualty (2328 HK) said its unaudited direct premium income last year was 119.5 billion yuan, up 17.5 per cent from 2008. (Hong Kong Economic Times A12)

Ping An Insurance (2318 HK) said accumulated premium income of its subsidiaries, Ping An Life Insurance, Ping An Property Insurance, Ping An Health Insurance and Ping An Pension Insurance amounted to 172 million yuan, surging 47 per cent year-on-year. (Hong Kong Economic Times A12)

Tianjin Port Development (3382 HK) plans to place 986.5 million new shares at a price ranging from HK$2.41 to HK$2.60 to raise up to HK$2.565 billion. The proceeds will be used for settlement of the proposed acquisition of Tianjin Port A-shares. (Sing Tao Finance B1)

Vision Tech International (922 HK) plans to develop a cemetery in Shanghai in the hope that the project will contribute 80 per cent of total net profit in 18 months and help the company to return to the black. (Sing Tao Finance B4)

Xinda International (1899 HK) announced its subsidiary will sell entire 15 million stakes in a mainland tyre manufacturer for 284 million yuan. Xinda is expected to gain 186 million from the sale. (Hong Kong Economic Journal P. 13)

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

Hong Kong Stock Market Wrap Jan. 11th, 2010

Hong Kong Broadband Network (1137 HK) said it was drawn 38,000 new subscribers in the final two months of last year by offering a cheaper monthly service at HK$99 per month. The company is confident of having core earnings of HK$478 million this year. (Sing Tao Finance B2)

Cathay Pacific Airways (293 HK), Hong Kong’s largest carrier, delayed taking a Boeing Co 747-400 passenger plane out of service as travel demand recovers. The airline will review whether the plane should go into storage over the next couple of months, spokeswoman Carolyn Leung said. (SingTao Finance B2)

Evergrande Real Estate (3333 HK) plans to conduct an international offering of guaranteed senior notes to raise at least HK$2.3 billion to repay in full the outstanding principal amount of structured secured loan, to finance existing and new property projects, and for general corporate purposes.
(Sing Tao Finance B3)

First Mobile Group (865 HK) and one of its subsidiary confirmed to receive an originating summons on January 7 issued by Public Bank (Hong Kong) Limited with five claims. (Sing Tao Finance B2)

Fosun International (656 HK) announced that it expects a profit growth in its annual results of last year due to gaining of its several investments and the listing of its subsidiary Sinopharm Group Co. Ltd. (1099) on the Hong Kong bourse. (Sing Tao Finance B2)

Haier Group (1169 HK), China’s largest home appliance maker, aims to generate two thirds of its revenue from foreign markets in three to five years, more than double the current level. (Hong Kong Economic Journal P. 2)

Rumour has it that Hidili Industry International Development (1393 HK) plans to issue 5-year convertible bonds worth US$250 million (1.71 billion yuan) at a price ranging from HK$12.58 to HK$13.55 apiece, a 30 per cent to 40 per cent surge of the closing price yesterday. The proceeds will be used for debt repayment and acquisition, according to Dow Jones Newswires. (Sing Tao Finance B3)

Hysan Development (14 HK) announced yesterday that it has appointed Sir David Akers-Jones, currently acting chairman of the company, as the new independent non-executive chairman of the board. Mr. Philip Yan Hok Fan and Mr. Joseph Chung Yin Poon were appointed as independent non-executive directors and Mr. Michael Tze Hau Lee was appointed as an non-executive director. (Sing Tao Finance B3)

Orient Overseas (316 HK), Hong Kong’s biggest container line which is involved in property development through a subsidiary, was rumoured to return eight pieces of land plots in Shanghai to the local authority. Company spokesman said they have not received any notice from the regulator and said the rumour is evidence lacking. (Hong Kong Economic Journal P. 4)

Q3 SALES GROW 15% Sa Sa International (178 HK) announced that its sales volume for the third quarter and first nine months of last year rose by 15 per cent and 11 per cent year-on-year respectively. (Sing Tao Finance B2)

See Corp (491 HK) proposes to raise up to HK$185 million by way of rights issue of 927 million shares at a subscription price of HK$0.20 apiece on the basis of eight for every one share. (Hong Kong Economic Journal P. 8)

Shanghai Forte Land (2337 HK) is in talks with Goldman Sachs to buy a project in Shanghai which worth US$200 million (HK$1.56 billion), sources told Reuters. (Hong Kong Economic Journal P. 4)

Sino Land (83 HK) announced that it has formed a joint venture with K. Wah International Holdings Ltd (0173) to jointly develop a land plot in Pak Shek Kok. Sino Land and K.Wah hold 85 per cent and 15 per cent stake in the joint venture respectively. The company estimates the cost of the project to be HK$6.9 billion. (Sing Tao Finance B2)

Bank of East Asia (23 HK) became the first overseas bank to set up a 200 million yuan data center in Shanghai. The data center is located in the Shanghai Financial Information Service Industrial Park, which is already home to the data centers of many domestic banks. (Hong Kong Economic Journal P. 4)

Vodone (82 HK) will cooperate with Cmedia, the largest multi-channel integrated chips supplier from Taiwan, to embed Vodone Telemedia’s mobile lottery focused value-added services such as games, entertainment, music, video and wireless payment gateway into mobile chips. (Hong Kong Economic Times A11)

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

Hong Kong Stock Market Wrap Jan. 8th, 2010

Parent of China State Construction Intl (3311 HK) announced it will change the usage of partial financing raised from IPO that three projects amounting 6.85 billion yuan will be terminated. (Hong Kong Economic Journal P. 4)

Esprit Holdings (330 HK) is seeking three to five year loan for HK$2.4 billion to HK$2.6 billion to acquire stake in a joint venture of China Resources (0291). (Sing Tao Finance B3)

Far East Consortium International (35 HK) has agreed to issue convertible bonds worth HK$900 million at most. The net proceeds of the bond issue will be used for business development including land bank acquisitions and financing development. (Hong Kong Economic Journal P. 4)

GCL-Poly Energy (3800 HK) announced that it has established an American depositary receipt facility, which has become effective on 4 January. The number of ADSs registered is 50 million. The purpose of the ADS is to increase liquidity of the company’s shares in the Hong Kong and the US and to provide an access to the US capital market, the board of directors says. (Hong Kong Economic Times A8)

Kith Holdings (1201 HK) announced that its proposed TDR listing has been approved by Taiwan authorities. Various existing holders would transfer 60 million ordinary shares of HK$0.10 each to Yuanta Commercial Bank, no new shares would be issued. (Hong Kong Economic Times A8)

Shanghai Forte Land (2337 HK) said its contractual sales was 969 million yuan in December, a double from a year ago. Sales area was approximately 71,953 square meters, surging up 46.74 per cent from the previous year. (Hong Kong Economic Journal P. 4)

Yue Yuen Industrial (551 HK) announced that its net consolidated operating revenue was US$4.971 billion for 2009, down 2.9 per cent compared to a year ago. For December alone, its net consolidated operating revenue was US$469 million, edging up 0.67 per cent compared to a year earlier. (Sing Tao Finance B3)

Asia Cassava Resources (841 HK) said its unaudited sales for the nine months ended December last year amounted over 1 million tonnes, up 0.75 million tonnes from the previous quarter. The company estimates market demand for Cassava to raise to 6 million tonnes this year. (Hong Kong Economic Times A14)

China Metal Recycling (773 HK) has agreed to acquire 99.68 per cent stake in Jiangyin Port Container Company for 220 million yuan. The company has been granted credit lines worth 3.5 billion yuan from four mainland banks. (Hong Kong Economic Times A14)

Datang International Power Generation (991 HK) announced that the power generation last year amounted to 133.6 billion kWh, rising 12 per cent from a year ago. The increase was attributable to a rise in capacity of its operational generating unit. (Hong Kong Economic Times A14)

Glorious Property (845 HK) announced that its contracted property sales amounted to 6.75 billion yuan last year with a gross floor area of 0.657 million square meters, representing a 78 per cent increase in sales volume from a year ago. The developer targets a sales volume of over 10 billion this year. (Hong Kong Economic Journal P8)

Grand T G Gold Holdings (8299 HK) announced that it has placed 1.065 billion shares to Mr Ma at a price of 7 HK cents per share to repay debts. The deal is a 40 per cent discount on its closing price before the resumption of trading. (Sing Tao Finance B13)

HKC (190 HK) announced that it has completed construction of the second and third phrases of its wind power station in Hebei. The company plans to start its production in the second quarter this year. (Sing Tao Finance B13)

Shanghai Zendai Property (755 HK) has agreed to issue 1.55 billion new shares to China Alliance and 400 million new shares to an independent third party at a price of 0.31 yuan per share to raise HK$604 million. (Sing Tao Finance B13)

SouthGobi Energy Resources (1878 HK), a Canada-listed coal miner, starts its roadshows today and plans to list in Hong Kong on January 29. The miner has introduced CIC and Temasek to be its cornerstone investors, sources told Reuters. (Hong Kong Economic Journal P6)

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

Hong Kong Stock Market Wrap Jan. 7th, 2010

Asia Standard Hotel (292 HK) announced that it has disposed 13.5 million ICBC Shares for a total of HK$83.7 million on the market at an average selling price of HK$6.20 apiece. The company does not hold any ICBC Shares after the disposal. (Hong Kong Economic Journal P. 10)

BBMG (2009 HK) has signed a cooperation agreement with Beijing branch of the Agricultural Bank of China that the lender has agreed to offer an indicative credit line of 10 billion yuan to the company. (Sing Tao Finance B4)

Celestial Asia Securities’(1049 HK) subsidiary PriceRite has three outlets opened yesterday. The company expects a double-digit increase in sales this year and aims to open 10 to 15 more outlets. (Hong Kong Economic Journal P. 4)

Hong Kong-listed mainland property developer China Overseas Land (688 HK) said yesterday that its contracted property sales for 2009 rose 80 per cent to HK$47.8 billion from the year earlier. The total gross floor area sold amounted to 4.768 million square meters, surging 76 per cent year-on-year. (Sing Tao Finance B4)

China Railway Construction Corp (1186 HK) has won the first land bid in Beijing this year for 1.98 billion yuan for a residential land after 130 rounds of bidding. (Hong Kong Economic Journal P. 10)

China Strategic (235 HK) plans to resubmit application of the acquisition of Nan Shan Life Insurance within a week, according to Taiwan media. Representatives from China Strategic and Primus said they are dedicated to acquire and maintain a long-term operation of Nan Shan Life Insurance. (Sing Tao Finance B3)

G-Resources Group (1051 HK) announced that its Martabe Gold Project in Indonesia will start to produce gold and silver in the first quarter of 2011. The company expects the project to produce 250,000 once of gold and 2-3 million once of silver annually over the life of the mine. (Sing Tao Finance B3)

Henderson Land Development (0012) and New World Development (0017) will pay a land premium of HK$2.5 billion on their Tai Tong Road project in Yuen Long, market sources said. It represents an average land premium of HK$2,000 per square foot, down from the initial government estimate of HK$3,000 per square foot. (Hong Kong Economic Journal P. 10)

Rumour has it that Kaisun Energy Group (8203 HK) plans to acquire seven oilfields in Russia to raise the acquired volumes. The company agreed to acquire three oilfields in Russia last year. Details of the acquisitions will be disclosed next week. (Sing Tao Finance B4)

Computer maker Lenovo Group (992 HK) has launched three new models, including LePhone, a smartphone that uses Google’s Android system for mobile phones. The world’s No. 4 PC maker said it considers mobile Internet as its next big opportunity and would further expand its presence in the smartphone market. (Hong Kong Economic Times A15)

New Smart Energy Group (91 HK) has agreed to place up to 1.3 billion new shares at a placing price of 6.1 HK cents apiece for HK$76 million. The proceeds will be used for the settlement of partial outstanding promissory notes and general working capital. (Sing Tao Finance B4)

PetroChina’s (857 HK) Gansu oil-tank farm exploded yesterday, resulting in two deaths. The centre of the explosion was more than 500 metres from residential areas, which were unaffected. The company said the explosion did not affect operations of its Lanzhou refinery. (Hong Kong Economic Journal P. 8)

Ping An Insurance (2318 HK) announced that the insurance regulatory has approved its application of raising registered capital from 2 billion yuan to 6 billion yuan to raise its ability of debt repayment. (Sing Tao Finance B4)

Poly (Hong Kong) Investments (199 HK) announced that its contracted sales for December in 2009 amounted to 700 million yuan. Its annual contracted sales reached 8 billion yuan last year, exceeding its target sales of 5.5 billion yuan, with a sold gross floor area of 1.2 million square meters. (Sing Tao Finance B4)

SHKP (16 HK) has obtained a pre-sale consent from the Lands Department last month to sell its 1886 residential units in YOHO Midtown. The construction of the units is expected to be completed by September 30. (Hong Kong Economic Journal P. 10)

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

Hong Kong Stock Market Wrap Jan. 6th, 2010

Bright Prosperous (732 HK) has signed a long-term contract to supply and purchase timber for mainland firm China Flooring to expand its sales channel. (Sing Tao Finance B4)

Build King (240 HK) has won three projects in the first quarter this year, which are worth HK$2.4 billion. The group expects its turnover to raise 40 to 50 per cent compares to last year, boosted by the infrastructure projects. (Hong Kong Economic Journal P. 12)

Li Ka-shing, chairman of Cheung Kong (1 HK), has increased his shareholdings in the property flagship by 710,000 shares to 961.417 million shares, or 41.5 per cent of stake in three days. (Hong Kong Economic Journal P. 12)

China Nonferrous Metals (8306 HK) plans to place 229 million existing shares at a placing price of 24.65 HK cents apiece to raise HK$56 million, a 15 per cent discount to its closing price yesterday. The proceeds will be used for general working capital. (Sing Tao Finance B4)

China Power International (2380 HK) said for the period ended last December, the annual electricity consumption has edged up only 2.43 per cent to 34.7 million megawatt. The insignificant increase is attributable to the decrease of electricity production in partial power plants. (Hong Kong Economic Times A13)

SELLS MIAMI CRESCENT LAST UNIT The last western-style house of Chinese Estates (127 HK)’ Miami Crescent has been sold, the average price per foot of the four-storey house is HK$4800. (Hong Kong Economic Journal P. 12)

Country Garden (2007 HK) has recorded a contracted property sale of 23.2 billion yuan in 2009, surging 32 per cent from a year earlier. Sales during the New Year holiday from January 1 to January 3 amounted to 680 million yuan, rising 400 per cent compared with the corresponding period last year. (Sing Tao Finance B3)

Greentown China (3900HK) said its 80 per cent owned subsidiary has agreed to sell a residential unit in Hangzhou to Song Weiping, an executive director and a substantial shareholder of the company, for 29.8 million yuan. (Hong Kong Economic Journal P. 12)

Maoye International (848 HK) has signed a strategic cooperation agreement with China Construction Bank (0939) that the lender will grant the company an indicative credit line of 15 billion over the next five years. (Sing Tao Finance B4)

Midland Holdings (1200 HK) said it plans to employ 20 per cent more front-line staff to increase the quality of it services. The company currently has 2200 front-line staff. (Hong Kong Economic Journal P. 12)

Lohas Park, a jointly developed property by MTR (66 HK), Nan Fung Group and Cheung Kong (0001), has sold 10 units in a deal to a mainland investor for HK$61 million in total. (Hong Kong Economic Journal P. 12)

Nagacorp (3918 HK) announced that it will place 200 new electronic gaming machines in its casino project Nagaworld in Cambodia. These gaming machines are owned by a joint venture of the company and its partner Elixir. Nagacorp and Elixir shall have 75 per cent and 25 per cent revenue income from the machines respectively. (Sing Tao Finance B4)

Sun Hung Kai Properties (16 HK), Asia’s largest developer by market value, plans to refinance five-year loans worth up to HK$12.6 billion, according to Reuters. The structure of its refinancing would be 70 per cent revolving credit and 30 per cent term loan. (Sing Tao Finance B3)

Wharf (4 HK) plans to refinance its Chengdu project up to HK$8 billion, sources said. The company has appointed Standard Chartered (2888) to arrange the refinancing. (Sing Tao Finance B3)

Zijin Mining (2899 HK) expects a 15 per cent growth in its annual net profit for the year 2009, which is attributable to the surge in gold prices. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Jan. 5th, 2010

IPO: The Dalian-based automobile sales agent ZhongSheng plans to list on the Hong Kong bourse in the first quarter to seek US$800 million to US$1 billion for expanding its China market.(Hong Kong Economic Journal P. 2)

361 Degrees International (361 HK) announced that the amount of order for the autumn season this year has surged 23 per cent. Order of wears has rose 18 per cent with a 7 per cent increase in price. For foot wears, order has surged 16 per cent with a 4 per cent increase in price. (Sing Tao Finance B4)

Agile Property (3383 HK) said yesterday that the contracted sales in 2009 jumped 95 per cent to 22.6 billion yuan. The gross floor sold amounted to 2.79 million square meters, a 69 per cent increase from a year ago. (Sing Tao Finance B2)

Rumour has it that Bank of China (3988 HK) plans to raise 27 billion yuan to 68.5 billion yuan through a rights issue, the lender aims to gain approval by March. (Hong Kong Economic Times A2)

BBMG (2009 HK) announced that it has won the land bid of a piece of residential and commercial land in Beijing for 662 million yuan with an average price of 13300 yuan per square meter. (Sing Tao Finance B4)

China Cosco (1919 HK)said freight rate of its routes from Far East to Africa would be raised by US$400 at most from January 15 onwards. The company closed at HK$10.38 yesterday, surging 5.9 per cent. (Hong Kong Economic Times A8)

China Shipping Container Lines Co, (2866 HK) the nation’s second-largest cargo-box carrier, said it will raise Asia-US rates on the containers in January and February. The company closed at HK$2.98 yesterday, surging 6.8 per cent. (Hong Kong Economic Times A8)

Rumoured has it that China Southern Airlines (1055 HK) plans to acquire Shenzhen Airlines. Sources said the company is financially capable to do so, but it has to confirm whether the value of latter can match with its price. (Sing Tao Finance B4)

China Zhongwang (1333 HK) was said to give inaccurate information in its prospectus, Economic Observer reported in September last year. The company representatives confirmed the accuracy of transactions and a public letter of apology has been received from the newspaper. (Hong Kong Economic Times A9)

Daphne International (210 HK), the Hong Kong-listed female footwear retailer, is to buy a 60 per cent stake in shoe retailer Full Pearl International for HK$195 million. The deal is expected to complete by the first quarter. (Sing Tao Finance B4)

Evergrande Real Estate Group (3333 HK) announced that its annual contracted sales in 2009 reached 30.3 billion yuan, surging 5.02 times compared with a year ago. The gross floor area sold amounted to 5.64 million square meters, nearly five times more than that in 2008. (Sing Tao Finance B2)

Hua Yi Copper Holdings (559 HK) announced that it has appointed Mr. Chi Chi Hung, Kenneth as an executive director and the chief executive officer of the company with effect from January 5. Mr. Chi is currently an independent non-executive director of ZMAY Holdings Limited (8085). (Sing Tao Finance B4)

Hutchison Whampoa (13 HK) may privatize its telecom unit Hutchison Telecommunications International Ltd (2332), market experts are generally positive about the possible deal. Credit Suisse expects the deal to amount to HK$3.96 billion, assuming a 10 per cent discount. (Hong Kong Economic Journal P. 2)

Share price of Playmates Toys (869 HK) surged 19 per cent to HK$0.96 yesterday as the company has gained an authorization to produce figures of Michael Jackson. Transaction of its share reached about 20 million yesterday. (Sing Tao Finance B4)

Soho China (410 HK) has recorded a contracted property sales of 13.1 billion yuan last year, surging 70 per cent from 2008. The developers stated that it will spend 10.6 billion yuan on acquiring four projects to expand commercial land bank in Beijing and Shanghai by 0.74 million square meters. (Sing Tao Finance B2)

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

Hong Kong Stock Market Wrap Jan. 4th, 2010

21 Holdings (1003 HK) has agreed to place 72 million new shares at a price of HK$0.15 apiece to seek HK$10.8 million, a 9.64 per cent discount to the closing price yesterday. The placing agent is Emperor Securities Limited. (Sing Tao Finance B2)

Bel Global Resources (761 HK) said it has signed a long-term sales contract with China Huaneng Group, providing 1 million tonnes coal to the buyer. The company expects the annual sales of coal to reach more than 3 million tonnes this year. (Sing Tao Finance B2)

China Haisheng Juice (359 HK) has agreed to pay the counterparty a sum of US$7 million to settle possible loss on foreign exchange swap contracts and litigation. Each party has agreed to discontinue and dismiss all related proceedings. (Sing Tao Finance B2)

China Star Entertainment (326 HK) has agreed to place shares to experienced investors Kwok Lung and Li Chi Lam for HK$0.14 apiece to seek a total netamount of HK$75.4 million. (Sing Tao Finance B2)

Coastal Realty Investment (1124 HK) has agreed to purchase 50 per cent stake in Super Investment from AG Coastal Dalian for 650 million yuan. (Hong Kong Economic Journal P. 10)

Datang International (991 HK) has agreed to acquire 100 per cent stake in Yuneng Group, a Chongqing power generation corporate, for 1.345 billion yuan. The deal will be settled in cash. (Sing Tao Finance B2)

Evergrande Real Estate’s land (3333 HK) plot in Guangzhou and a deposit of 130 million yuan have been confiscated by the Guangzhou land authority as the government has changed the land use of the land plot without noticing the company so that the company cannot pay the remaining land fee on time, sources said. (Hong Kong Economic Times P10)

As R&F Properties (2777 HK) fails to payout a land in Foshan brought in 2007 for 4.7 billion yuan, Guangzhou authority has confiscated the plot together with its 240 million yuan deposits. (Hong Kong Economic Journal P. 10)

Henderson Land Development (12 HK) will deliver bonuses to its staff today. Employees enjoy an average of 3 per cent increase in salary and some would gain a 20-month bonus. (Hong Kong Economic Times A6)

Hutchison Whampoa (13 HK) is considering privatizing its subsidiary, Hutchison Telecommunications International (2332), an international telecommunications services provider, through a buyout offer. Both the spokesmen for Hutchison Telecom and Hutchison Whampoa declined to comment on the possible offer, pending an official announcement. (Hong Kong Economic Times A2)

Longfor Properties (960 HK) announced that the annual contracted sales of 2009 have reached 18.34 billion yuan, a 25 per cent higher than the target sales. (Sing Tao Finance B2)

Shimao Property (813 HK) announced that the annual contracted sales of 2009 have reached 22.5 billion yuan, surging 88 per cent from a year earlier. Contracted sales of floor area amounted to 2.5 million square meters, rising 98 per cent from a year ago. (Sing Tao Finance B2)

SMI Corporation’s (198 HK) substantial shareholder Mr Qin has agreed to subscribe convertible bonds worth HK$100 million issued by the company at a price of HK$0.295 per share to seek HK$99 million for possible future investment and general working capital. (Sing Tao Finance B2)

Shui On Construction (983 HK) announced that it has appointed Mr. David Gordon Eldon, former director of HSBC (0005), Mr. Chan Kay Cheung, current vice chair of BEA China and Mr. Tsang Kwok Tai, Moses, former chair of Goldman Sachs (Asia) as independent non-executive directors of the company with effect from January 1. (Hong Kong Economic Journal P. 10)

Yip's Chemical (408 HK) has agreed to acquire a land plot near its factory in Jiangsu for 19 million yuan with a floor area of 146 acres. (Sing Tao Finance B2)

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

Hong Kong Stock Market Wrap Dec. 31th, 2009

China Life Insurance (2628 HK) has received notification on promulgation of regulations regarding the accounting treatment of insurance contracts, which regulates issues relating to the unbundling of mixed insurance contracts, tests for significant insurance risks and the calculation of reserves for insurance contracts. (Hong Kong Economic Times A10)

City Telecom (1137 HK) said it plans to offer free-to-air television services in Hong Kong, challenging the city’s two existing operators as the reviving economy boosts demand for advertising. The internet service provider said it has applied to the territory’s broadcasting authority for a licence.
(Hong Kong Economic Times A10)

Zhejiang-based Geely’s (175 HK) proposed acquisition of Volvo is still subject to approval from the relevant Chinese authorities. The two companies said in the statement that, if approved, they expect to sign the formal agreement in the first quarter this year. (Hong Kong Economic Times A10)

China Mobile (941 HK) spokesman denied that the company plans to acquire Tencent Holdings Ltd (0700) following a rumour that the its ceo has met Tencent chairman in Shenzhen earlier. (Hong Kong Economic Journal P6)

China National Building Material (3323 HK) announced that it has agreed to transfer a land use right to the central government for a compensation of 3 billion yuan. (Sing Tao Finance B11)

It is suspected that Sinopec (386 HK) stations have caused at least 6,000 taxis to break down, an investigation team was set up to look into the matter and findings will be presented within this week. (Hong Kong Economic Journal P. 4)

Evergrande Real Estate (3333HK) said it raised 1.1 billion yuan from contracted sales of two residential projects launched in Changsha on New Year’s Day despite the tightening of mainland policy. (Hong Kong Economic Journal P. 6)

IPO: Fujian High-Tech Enterprise awardee Sijia plans to list on the Hong Kong bourse before the lunar New Year to seek HK$500 million to 800 million. (Hong Kong Economic Times A2)

Glorious Property (845 HK) announced that it has won a land bid of two pieces in Jiangsu for 4.14 billion yuan. The land plots will be used for residential and commercial projects. (Hong Kong Economic Journal P8)

Guangzhou R&F Properties (2777 HK) said its sales volume in December amounted to 1.648 billion yuan, dropping 14 per cent from a year earlier.
The annual sales volume in 2009 totalled 24.197 billion yuan with a total sales floor area of 2.3329 million square meters, a 50 per cent and 45 per cent surge from a year ago. (Hong Kong Economic Times A15)

Huaneng Power International (902 HK) has agreed to acquire a electricity plant, a biological electricity plant and stake in ports from Shandong Power and Luneng Development for 8.625 billion yuan. The deal will be settled by the company’s internal cash surplus. (Hong Kong Economic Times A15)

Lifestyle International (1212 HK) has agreed to acquire 20 per cent stake in a Suzhou joint venture held by Suzhou Harmony for 143 million yuan. (Sing Tao Finance B11)

Maoye International’s (848 HK) unit Tai Zhou No.1 department store has recorded a sales volume of 61.24 million yuan between December 24 and December 27 last year, surging 119 per cent from a year earlier. (Hong Kong Economic Times A15)

Sinopec Yizheng Chemical Fibre (1033 HK) announced it will invest 700 million yuan of its idle fund on buying treasury bonds and short-term bank products to raise efficiency of thecompany’s fund. (Hong Kong Economic Journal P6)

SouthGobi Energy Resources Ltd (1878 HK)., a Canada-based coal producer operating in the southern deserts of Mongolia, plans to raise HK$2.3 billion financings from its IPO on January 18. (Hong Kong Economic Times A2)

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

Hong Kong Stock Market Wrap Dec. 30th, 2009

IPO: Fujian-based sportswear brand Meike has filed applications to HKEx to list on the Hong Kong bourse in February next year for HK$200 million to HK$300 million. (Hong Kong Economic Journal P. 3)

Parent of Aluminum Corporation of China, Chinalco (2600 HK), plans to expand production by building a copper refinery factory with an annual production of 500,000 tonnes in Gansu so to expand its production capacity by 10 per cent. (Sing Tao Finance B3)

BYD (1211 HK) has raised target sales by 14 per cent to 800,000 units next year due to the strong demand for automobile in China. The manufacturer expects the annual automobile sales to record a higher-than-expected 440,000 unit this year since the sales volume has already met its target volume in November. (Sing Tao Finance B2)

Pang Xiusheng, chief financial officer of China Construction Bank (939 HK), will be appointed as the vice president of the bank, but not that of the Agricultural Bank of China as rumoured, according to sources from Reuters. (Sing Tao Finance B2)

China Qinfa Group’s (866 HK) subsidiary Jinfa Materials has agreed to acquire 60 per cent stake in Ordos Bayin Mengke Nayuan Coal in Inner Mongolia for 857 million yuan. (Sing Tao Finance B3)

China South Locomotive & Rolling Stock Corp (1766 HK) said it has recently signed three transportation projects in the mainland, the contracts total 2.35 billion yuan. (Hong Kong Economic Times A10)

GCL-Poly Energy (3800 HK) announced its solar plant in Suzhou, with a 20- megawatt volume, has started operation, becoming the largest solar plant in the country. (Hong Kong Economic Times A10)

Hainan Meilan International Airport (357 HK) has formed JV Hainan Meilan International Airport Cargo Company Limited with Baixiang Logistics to provide international (including regional) and domestic air cargo transportation sales agency services, ground agency service for inbound and outbound cargos of Meilan Airport, and ground transportation services. (Hong Kong Economic Journal P. 4)

Imagi International (858 HK) is in preliminary talks with various parties on a potential investors in the company. No definitive agreement has been made at this stage.Imagi International surged 90 per cent to HK$0.152 yesterday. (Sing Tao Finance B2)

Jiangxi Copper Company (358 HK) said the production volume of refined copper amounted to 800,000 tonnes, surging 14 per cent compared with the 702,000 tonnes last year. (Sing Tao Finance B3)

Shares in Lumena Resources (67 HK) fell as much as 15.6 per cent yesterday after its chairman, Suolang Duoji, offered one-fifth stake in the firm to Bank of China International as security for a loan facility.(Hong Kong Economic Journal P. 3)

Ming Hing Waterworks Holdings (402 HK) announced that it has agreed to buy licenses of coal, gold and copper mines issued by Mongolia for HK$1.94 billion to expand in the coal mining industry. (Sing Tao Finance B2)

Beijing MTR Corporation Limited (66 HK), the joint venture company of MTRC, has signed a ten-year operations and maintenance concession agreement for Beijing Metro Daxing Line with Beijing Metro Daxing Line Investment Company. (Hong Kong Economic Journal P. 4)

PetroChina (857 HK), China’s largest oil producer, is approved to buy MacKay River and Dover oil-sands projects of Athabasca Oil Sands Corp in Canada for CAD 1.9 billion (HK$13.95 billion). (Sing Tao Finance B2)

Varitronix International (710 HK) announced its indirect wholly-owned subsidiary Varitronix Marketing has decided to voluntarily wind up. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap Dec. 29th, 2009

IPO: UC Rusal, the world’s largest aluminium producer, has secured four key investors for its two-billion-US-dollar initial public offering in Hong Kong, sources said. The so-called cornerstone investors are Malaysian-Chinese tycoon Robert Kuok, New York hedge fund Paulson & Co., European banking family scion Nathaniel Rothschild and Russian state development bank VEB. (Hong Kong Economic Journal P. 2)

Bank of Communications (3328 HK) has confirmed to appoint Niu Ximing, former vice president of Industrial and Commercial Bank of China (1398) as president and vice chairman of the bank. (Sing Tao Finance B2)

Bank of East Asia (23 HK) announced that it is the first foreign bank to set up a branch in Shijiazhuang City of Hebei Province. It has also opened a new branch in Shenyang Province. (Sing Tao Finance B2)

Carpenter Tan (837 HK) has become the best performing stock to list on the mainboard this year as it brought shareholders a paper gain of HK$2,700 per board lot after soaring more than 50 per cent at yesterday’s debut. (Hong Kong Economic Journal P. 2)

China Construction Bank (939 HK) has agreed to acquire 50 per cent stake held by Dutch financial conglomerate ING Groep NV in Pacific Antai Life Insurance Co, to further expand its presence in the insurance sector. The deal still has to be cleared by the regulatory authorities, the lender said. (Sing Tao Finance B2)

China Mobile (941 HK) announced that it has finished the third phase of the TD-SCDMA network construction, expanding the network coverage to 70 per cent of Chinese cities with 100,000 base stations. The company announced on December 27 that company vice president Zhang Chunjiang is under investigation for "violating laws and regulations". (Hong Kong Economic Journal P. 4)

Hong Kong Exchanges and Clearing Limited (388 HK) published its Consultation Conclusions on Certified Emission Reduction (CER) Futures on Tuesday saying that there is no imminent need for a CER futures market in Hong Kong.
Nevertheless, as HKEx reckons the carbon emission markets may become more important in the long run, it will continue to monitor the development of emission policies on the Mainland and in other markets and will consider revisiting the product concept of CER futures if circumstances change.(Hong Kong Economic Times A12)

Hong Kong Health Check and Laboratory Holdings (397 HK) has recorded a net profit of HK$101 million for the first half ended September 30, against a net loss of HK$154 million a year ago. Earnings per share were 26 HK cents. The company proposes no interim dividend. (Sing Tao Finance B2)

Yang Kaisheng, president and vice chairman of Industrial and Commercial Bank of China (1398 HK), will retire from his posts, a source said.
Rumour has it that China Cinda Asset Management Corporation president Tian Guoli is likely to replace him. (Sing Tao Finance B2)

Public Financial Holdings (626 HK) announced that it has declared the second interim dividend of 13 HK cents per share for the year ending December 31. The dividend will be payable in cash on February 25 next year to shareholders. (Sing Tao Finance B2)

Shanghai Zendai Property’s (755 HK) subsidiary Shanghai Zendai Land and SMEG have agreed to form a joint venture to acquire two pieces of land in Nantong city of Jiangsu Province for 530 million yuan. The plots amount to a total floor area of 280,000 square meters. (Hong Kong Economic Times P.7)

Sino-Ocean Land (3377 HK) announced it has acquired entire share of its wholly-owned subsidiary Cityshine Holdings, which has 20 per cent stake in a property company. Sino-Ocean Land would own all shares of the property company upon the deal. (Hong Kong Economic Journal P. 7)

Sinopharm Group (1099 HK) announced that a final special dividend of 325 million yuan will be distributed to CNPGC and Sinopharm Investment by December 31. (Sing Tao Finance B2)

SMI Corp (198 HK) plans to acquire at least ten cinemas and film producing facility companies from a substantial shareholder for HK$1.2 billion. According to the contract, the target companies to be acquired would bring HK$80 million profit to SIM Corp.(Hong Kong Economic Times A12)

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

Hong Kong Stock Market Wrap Dec. 28th, 2009

IPO: Rumour has it that US fund Paulson & Co and a private investment under the Rothschild family are planning to buy shares of UC Rusal.
In addition, Russian state bank VEB and asset management firm BlackRock also show interest in buying UC Rusal’s shares during its IPO.
(Sing Tao Finance B2)

361 Degrees International (1361 HK) says the sales order for the fall season next year is satisfactory, with a 20 per cent growth, against a 30 per cent surge in the previous two quarters. The company expects the sales volume to rise 15 per cent to 18 per cent next year. (Sing Tao Finance B2)

Capital Strategic Investment (497 HK) has posted a net profit of HK$397 million for the first half ended September 30, surging for 3.95 times. Earnings per share were 5.9 HK cents. No interim dividend was declared. (Sing Tao Finance B2)

Shares of Carpenter Tan (837 HK) surged in pre-debut trade before closing at HK$3.24, rising 25 per cent from its offer price of HK$2.58.
Shareholders posted a paper gain of HK$1,320 per board lot of 2,000 shares. (Sing Tao Finance B2)

China Eastern Airlines (670 HK) has agreed to buy 16 Airbus A330 aircraft to handle the growing demand for long-haul flights. The airline will take delivery of the jets from 2011 to 2014 and will pay with bank loans. (Sing Tao Finance B2)

China Outdoor Media Group (254 HK) said it has acquired a mainland company operating mall television channels and broadcasting network for HK$1.24 billion. (Hong Kong Economic Times A11)

China Strategic Holdings (235 HK) and investment company Primus Financial plan to resubmit application documents of acquiring Nanshan by year-end. It is said that if the deal cannot be conpleted by June next year, AIG would take away the US$200 million (HK$1.56 billion) deposit from the buyer. (Hong Kong Economic Times A11)

Hopewell Highway Infrastructure (737 HK) announced today that the construction of Phase III of the Western Delta Route has commenced. Hopewell Highway and Guangdong Provincial Highway Construction Company Limited each owns a 50 per cent interest in the project. (Sing Tao Finance B2)

HSBC (5 HK) said yesterday it has opened two more rural banks in Liaoning and Chongqing Province as it seeks to penetrate deeper into the rural financing industry in the country. They will provide full banking services, including deposits and lending, to local small and medium businesses and residents.
HSBC is the first foreign financial institution to set rural bank in.(Hong Kong Economic Journal P. 9)

Jia Sheng Holdings (729 HK) said it will discontinue its current voluntary practice of quarterly reporting with immediate effect, in order to save costs and free up the company’s human resources. Yet, the firm will continue to comply with the relevant requirements for financial results reporting and publish its interim results and annual results. (Sing Tao Finance B2)

Magician Industries (526 HK) has posted a net profit of HK$4.159 million for the first half ended September 30. Earnings per share were 0.27 HK cent. No interim dividend was declared. (Sing Tao Finance B2)

Mei Ah Entertainment Group (391 HK) has recorded a net profit of HK$20.28 million for the first half ended September 30. Earnings per share were 2.07 HK cents. No interim dividend was declared. (Sing Tao Finance B2)

Sino Land (0083) has added to its New Territories property portfolio yesterday by joining K. Wah International (0173) to clinch two residential plots in Pak Shek Kok, Tai Po, for a record-breaking HK$10.4 billion. (Hong Kong Economic Journal P. 1)

Willie International (273 HK) said it has ended its 600 million shares placement launched earlier. The new plan is to place 200 million new shares for HK$0.45 apiece, accounting for 25.08 per cent of its issued shares, to raise HK$90 million for working capital and future expansion. (Sing Tao Finance B2)

Yuexiu Property’s (123 HK) subsidiary has agreed to acquire a piece of land in Zhongshan with a gross floor area of 418,000 square meters for 544 million yuan. The land will be developed for residential and commercial uses. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Dec. 24th, 2009

IPO: Schramm’s (955 HK) initial public offering has been oversubscribed for 205 times. The offering price is set at between HK$29and HK$45 per share. The company plans to raise HK$157 million. According to market sources, institutional investors such as Henderson Global and Look’s Capital have subscribed its shares. (Hong Kong Economic Journal P.5) Russian aluminum company UC Rusal has finally gained approval from regulatory to list on the Hong Kong bourse at the end of next month. Sources said New York-based asset management firm BlackRock and China Investment Corp intend to buy its shares. (Hong Kong Economic Journal P. 5)

BBMG Corp (2009 HK) plans to raise its stake in its subsidiary, a cement and building materials manufacturer, to a 98.46 per cent level. The deal amounts to 106 million yuan. (Sing Tao Finance B10)

China Travel (308 HK), a subsidiary of the state-owned China National Travel Service, has established a joint venture Songshan Shaolin Culture Tourism Co Ltd with the Dengfeng city government in Henan. The firm owns 51 per cent of the new joint venture, which has a registered capital of 100 million yuan. (Hong Kong Economic Times A8)

Rumour has it that parent of Hunan Nonferrous Metals Holding Group (2626 HK) is to be taken over by China Minmetals Corporation as the latter plans to increase its holdings to 51 per cent from 40 per cent. (Sing Tao Finance B10)

Standard Chartered Private Equity Limited (2888 HK) announced on Friday that it has finished its first investment in China’s renewable energy field of US$23.3 million (HK$174 billion). The investment went to solar water heater maker Sangle Solar Energy Co., Ltd., who was working to float its initial public offering on Shanghai Stock Exchange. (Hong Kong Economic Times A8)

Ping An Insurance (2318 HK) said it has extended the deadline to complete its proposed US$1.7 billion purchase of TPG Inc.’s stake in Shenzhen Development Bank by an initial four months, as the deal is still pending Chinese regulatory approval. (Hong Kong Economic Times A8)

The Mexican banking arm of HSBC Holdings PLC (5 HK) said Wednesday that it has received US$487.5 million (HK$3.8 billion) through a capital increase by its parent company. (Sing Tao Finance B5)

Carpenter Tan (837 HK) was 339 times oversubscribed in its initial public offering. The offering price is set at between HK$2.15 and HK$2.93 per share. The company plans to raise HK$139.5 million. (Hong Kong Economic Journal P.5)

Chaoda Modern Agriculture (682 HK) plans to acquire shares of an organism technology company VaxGene to develop edible vaccines. The deal will be settled by the issue of consideration shares at an issue price of HK$7.65 per share. (Hong Kong Economic Times A11)

Cheung Kong Infrastructure (1038 HK) plans to bid for the electricity network in the UK, which is controlled by a French-state controlled EDF. It is believed that the company has hired Royal Bank of Scotland to advise on the deal, according to Sunday Telegraph. (Sing Tao Finance B9)

China Mobile (941 HK) has confirmed that its vice chairman and executive director Zhang Chunjiang is currently under investigation by the Chinese authorities on alleged serious personal violations. (Hong Kong Economic Journal P.2)

China Molybdenum (3993 HK) announced that it has agreed to offer a 1-year loan of 1.15 billion yuan to a state owned enterprise, Luoyang Construction Investment and Mining Co., Ltd. The interest rate will be 10 per cent below the benchmark. (Hong Kong Economic Times A11)

China Resources Gas Group (1193 HK) has agreed to acquire 25 per cent stake in Chongqing Gas Group for 1.163 billion yuan.
The deal will be settled in cash. (Hong Kong Economic Journal P.5)

Sino-Ocean Land (3377 HK) has agreed to subscribe 934 million shares of China Life Insurance Company (2628) at a price of HK$6.23, a 19.86 per cent of the latter’s issued shares. The company will become the second substantial shareholder of China Life Insurance Company upon the deal. (Hong Kong Economic Times A11)

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