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
