Tuesday, January 5, 2010

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