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
