Bright Prosperous (732 HK) has signed a long-term contract to supply and purchase timber for mainland firm China Flooring to expand its sales channel. (Sing Tao Finance B4)
Build King (240 HK) has won three projects in the first quarter this year, which are worth HK$2.4 billion. The group expects its turnover to raise 40 to 50 per cent compares to last year, boosted by the infrastructure projects. (Hong Kong Economic Journal P. 12)
Li Ka-shing, chairman of Cheung Kong (1 HK), has increased his shareholdings in the property flagship by 710,000 shares to 961.417 million shares, or 41.5 per cent of stake in three days. (Hong Kong Economic Journal P. 12)
China Nonferrous Metals (8306 HK) plans to place 229 million existing shares at a placing price of 24.65 HK cents apiece to raise HK$56 million, a 15 per cent discount to its closing price yesterday. The proceeds will be used for general working capital. (Sing Tao Finance B4)
China Power International (2380 HK) said for the period ended last December, the annual electricity consumption has edged up only 2.43 per cent to 34.7 million megawatt. The insignificant increase is attributable to the decrease of electricity production in partial power plants. (Hong Kong Economic Times A13)
SELLS MIAMI CRESCENT LAST UNIT The last western-style house of Chinese Estates (127 HK)’ Miami Crescent has been sold, the average price per foot of the four-storey house is HK$4800. (Hong Kong Economic Journal P. 12)
Country Garden (2007 HK) has recorded a contracted property sale of 23.2 billion yuan in 2009, surging 32 per cent from a year earlier. Sales during the New Year holiday from January 1 to January 3 amounted to 680 million yuan, rising 400 per cent compared with the corresponding period last year. (Sing Tao Finance B3)
Greentown China (3900HK) said its 80 per cent owned subsidiary has agreed to sell a residential unit in Hangzhou to Song Weiping, an executive director and a substantial shareholder of the company, for 29.8 million yuan. (Hong Kong Economic Journal P. 12)
Maoye International (848 HK) has signed a strategic cooperation agreement with China Construction Bank (0939) that the lender will grant the company an indicative credit line of 15 billion over the next five years. (Sing Tao Finance B4)
Midland Holdings (1200 HK) said it plans to employ 20 per cent more front-line staff to increase the quality of it services. The company currently has 2200 front-line staff. (Hong Kong Economic Journal P. 12)
Lohas Park, a jointly developed property by MTR (66 HK), Nan Fung Group and Cheung Kong (0001), has sold 10 units in a deal to a mainland investor for HK$61 million in total. (Hong Kong Economic Journal P. 12)
Nagacorp (3918 HK) announced that it will place 200 new electronic gaming machines in its casino project Nagaworld in Cambodia. These gaming machines are owned by a joint venture of the company and its partner Elixir. Nagacorp and Elixir shall have 75 per cent and 25 per cent revenue income from the machines respectively. (Sing Tao Finance B4)
Sun Hung Kai Properties (16 HK), Asia’s largest developer by market value, plans to refinance five-year loans worth up to HK$12.6 billion, according to Reuters. The structure of its refinancing would be 70 per cent revolving credit and 30 per cent term loan. (Sing Tao Finance B3)
Wharf (4 HK) plans to refinance its Chengdu project up to HK$8 billion, sources said. The company has appointed Standard Chartered (2888) to arrange the refinancing. (Sing Tao Finance B3)
Zijin Mining (2899 HK) expects a 15 per cent growth in its annual net profit for the year 2009, which is attributable to the surge in gold prices. (Sing Tao Finance B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
