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
