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
