Cathay Pacific Airway’s (293 HK) chief executive officer Antony Nigel Tyler said the company is considering launching new flight routes, such as Moscow. (Sing Tao Finance, B2)
China Coal Energy (1898 HK) said that its raw coal production in 2009 amounted to 109 million tons, rising 8.2 per cent from a year ago. Self-produced coal production was 101 million tons, surging 10.2 per cent year-on-year. (Sing Tao Finance, B2)
China Railway Construction (1186 HK) announced that its net profit for the year 2009 is expected to grow by more than 50 per cent on increased investment in infrastructure projects on the mainland. (Sing Tao Finance, B2)
Chongqing Iron & Steel (1053 HK) Company said net profit for last year is expected to decrease by over 80 per cent from 598.3 million yuan in 2008. The decrease is attributable to the drop in product price, rise in the cost of fuel and raw materials and slight decrease in sales. (Hong Kong Economic Times A13)
Esprit Holdings (330 HK) announced that it has been granted a five-year loan facility of HK$2.6 billion from 13 lenders to finance the takeover of the brand’s retail business in the mainland from China Resources Enterprise (0291). (Sing Tao Finance, B2)
Far East Golden Resources (1188 HK) Group will soon be renamed as Hybrid Kinetic Group. The group said it is seeking capital from overseas investment for its US hybrid automobile project. (Hong Kong Economic Times A13)
Greentown China (3900 HK) has agreed to sell 49 per cent equity interest in Shanghai Greentown Woods Golf Villas Development Co., Ltd (Shanghai Greentown Project Company) to Zhongtai Trust through Zhongtai Trust's injection of 96.08 million yuan into Shanghai Greentown Project Company. Greentown China will hold 51 per cent stake in the project company after the sale. (Hong Kong Economic Journal P. 9)
Hang Lung Properties (101 HK) has recorded a net profit of HK$5.5 billion for the six months ended December last year, surging 360 per cent from a year earlier. An interim dividend of 17 HK cents was proposed. (Sing Tao Finance, B4)
Megabox (683 HK) under Kerry Properties has recorded a 10 per cent rise in revenue for last year. The group said there were outstanding performances during the golden week and Christmas. It expects a 30 per cent rise in rental this year. (Hong Kong Economic Journal P. 9)
Northast Electric Development (42 HK) said it expects a recovery of about 5 million yuan in accumulative net profit in 2009. The company had a net loss of 69.11 million yuan for 2008. (Hong Kong Economic Times A13)
PetroChina (857 HK) has formed a joint venture with Malaysia’s Petronas and Iraq’s South Oil Company to develop Halfaya Oilfield in Iraq for the next 20 years. PetroChina will hold 37.5 per cent stake in the venture. (Sing Tao Finance, B2)
Shanghai Jin Jiang International Hotels (2006 HK) (Group) Co Ltd announced yesterday it is launching a new hotel brand, the Marvel brand, to tap growing demand from a younger generation of business travelers across the country. (Hong Kong Economic Journal P. 9)
Sino Biopharmaceutical (1177 HK) has signed an agreement with CITIC Securities and China Life (2628) in relation to a top-up placement of 255 million existing shares at a price of HK$2.10 apiece to raise HK$536 million. The proceeds will be used for acquisitions in the future. (Sing Tao Finance, B4)
Tonic Industries (978 HK) announced there will be a debt restructuring and introduction of new cornerstone investors acquiring 931 million new shares with HK$8 million. An amount of HK$3 million non-collateral loan would be provided upon the deal. (Hong Kong Economic Times A13)
Wheelock (20 HK) announced that it has succeeded in bidding a land plot in Fushan together with China Merchants Property Development Company Limited for 680 million yuan with a gross floor area of 3.3 million square foot. The land plot will be jointly developed on a 50:50 ownership basis. (Sing Tao Finance, B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
