Tuesday, January 5, 2010

Hong Kong Stock Market Wrap Jan. 4th, 2010

21 Holdings (1003 HK) has agreed to place 72 million new shares at a price of HK$0.15 apiece to seek HK$10.8 million, a 9.64 per cent discount to the closing price yesterday. The placing agent is Emperor Securities Limited. (Sing Tao Finance B2)

Bel Global Resources (761 HK) said it has signed a long-term sales contract with China Huaneng Group, providing 1 million tonnes coal to the buyer. The company expects the annual sales of coal to reach more than 3 million tonnes this year. (Sing Tao Finance B2)

China Haisheng Juice (359 HK) has agreed to pay the counterparty a sum of US$7 million to settle possible loss on foreign exchange swap contracts and litigation. Each party has agreed to discontinue and dismiss all related proceedings. (Sing Tao Finance B2)

China Star Entertainment (326 HK) has agreed to place shares to experienced investors Kwok Lung and Li Chi Lam for HK$0.14 apiece to seek a total netamount of HK$75.4 million. (Sing Tao Finance B2)

Coastal Realty Investment (1124 HK) has agreed to purchase 50 per cent stake in Super Investment from AG Coastal Dalian for 650 million yuan. (Hong Kong Economic Journal P. 10)

Datang International (991 HK) has agreed to acquire 100 per cent stake in Yuneng Group, a Chongqing power generation corporate, for 1.345 billion yuan. The deal will be settled in cash. (Sing Tao Finance B2)

Evergrande Real Estate’s land (3333 HK) plot in Guangzhou and a deposit of 130 million yuan have been confiscated by the Guangzhou land authority as the government has changed the land use of the land plot without noticing the company so that the company cannot pay the remaining land fee on time, sources said. (Hong Kong Economic Times P10)

As R&F Properties (2777 HK) fails to payout a land in Foshan brought in 2007 for 4.7 billion yuan, Guangzhou authority has confiscated the plot together with its 240 million yuan deposits. (Hong Kong Economic Journal P. 10)

Henderson Land Development (12 HK) will deliver bonuses to its staff today. Employees enjoy an average of 3 per cent increase in salary and some would gain a 20-month bonus. (Hong Kong Economic Times A6)

Hutchison Whampoa (13 HK) is considering privatizing its subsidiary, Hutchison Telecommunications International (2332), an international telecommunications services provider, through a buyout offer. Both the spokesmen for Hutchison Telecom and Hutchison Whampoa declined to comment on the possible offer, pending an official announcement. (Hong Kong Economic Times A2)

Longfor Properties (960 HK) announced that the annual contracted sales of 2009 have reached 18.34 billion yuan, a 25 per cent higher than the target sales. (Sing Tao Finance B2)

Shimao Property (813 HK) announced that the annual contracted sales of 2009 have reached 22.5 billion yuan, surging 88 per cent from a year earlier. Contracted sales of floor area amounted to 2.5 million square meters, rising 98 per cent from a year ago. (Sing Tao Finance B2)

SMI Corporation’s (198 HK) substantial shareholder Mr Qin has agreed to subscribe convertible bonds worth HK$100 million issued by the company at a price of HK$0.295 per share to seek HK$99 million for possible future investment and general working capital. (Sing Tao Finance B2)

Shui On Construction (983 HK) announced that it has appointed Mr. David Gordon Eldon, former director of HSBC (0005), Mr. Chan Kay Cheung, current vice chair of BEA China and Mr. Tsang Kwok Tai, Moses, former chair of Goldman Sachs (Asia) as independent non-executive directors of the company with effect from January 1. (Hong Kong Economic Journal P. 10)

Yip's Chemical (408 HK) has agreed to acquire a land plot near its factory in Jiangsu for 19 million yuan with a floor area of 146 acres. (Sing Tao Finance B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard