Asia Standard Hotel (292 HK) announced that it has disposed 13.5 million ICBC Shares for a total of HK$83.7 million on the market at an average selling price of HK$6.20 apiece. The company does not hold any ICBC Shares after the disposal. (Hong Kong Economic Journal P. 10)
BBMG (2009 HK) has signed a cooperation agreement with Beijing branch of the Agricultural Bank of China that the lender has agreed to offer an indicative credit line of 10 billion yuan to the company. (Sing Tao Finance B4)
Celestial Asia Securities’(1049 HK) subsidiary PriceRite has three outlets opened yesterday. The company expects a double-digit increase in sales this year and aims to open 10 to 15 more outlets. (Hong Kong Economic Journal P. 4)
Hong Kong-listed mainland property developer China Overseas Land (688 HK) said yesterday that its contracted property sales for 2009 rose 80 per cent to HK$47.8 billion from the year earlier. The total gross floor area sold amounted to 4.768 million square meters, surging 76 per cent year-on-year. (Sing Tao Finance B4)
China Railway Construction Corp (1186 HK) has won the first land bid in Beijing this year for 1.98 billion yuan for a residential land after 130 rounds of bidding. (Hong Kong Economic Journal P. 10)
China Strategic (235 HK) plans to resubmit application of the acquisition of Nan Shan Life Insurance within a week, according to Taiwan media. Representatives from China Strategic and Primus said they are dedicated to acquire and maintain a long-term operation of Nan Shan Life Insurance. (Sing Tao Finance B3)
G-Resources Group (1051 HK) announced that its Martabe Gold Project in Indonesia will start to produce gold and silver in the first quarter of 2011. The company expects the project to produce 250,000 once of gold and 2-3 million once of silver annually over the life of the mine. (Sing Tao Finance B3)
Henderson Land Development (0012) and New World Development (0017) will pay a land premium of HK$2.5 billion on their Tai Tong Road project in Yuen Long, market sources said. It represents an average land premium of HK$2,000 per square foot, down from the initial government estimate of HK$3,000 per square foot. (Hong Kong Economic Journal P. 10)
Rumour has it that Kaisun Energy Group (8203 HK) plans to acquire seven oilfields in Russia to raise the acquired volumes. The company agreed to acquire three oilfields in Russia last year. Details of the acquisitions will be disclosed next week. (Sing Tao Finance B4)
Computer maker Lenovo Group (992 HK) has launched three new models, including LePhone, a smartphone that uses Google’s Android system for mobile phones. The world’s No. 4 PC maker said it considers mobile Internet as its next big opportunity and would further expand its presence in the smartphone market. (Hong Kong Economic Times A15)
New Smart Energy Group (91 HK) has agreed to place up to 1.3 billion new shares at a placing price of 6.1 HK cents apiece for HK$76 million. The proceeds will be used for the settlement of partial outstanding promissory notes and general working capital. (Sing Tao Finance B4)
PetroChina’s (857 HK) Gansu oil-tank farm exploded yesterday, resulting in two deaths. The centre of the explosion was more than 500 metres from residential areas, which were unaffected. The company said the explosion did not affect operations of its Lanzhou refinery. (Hong Kong Economic Journal P. 8)
Ping An Insurance (2318 HK) announced that the insurance regulatory has approved its application of raising registered capital from 2 billion yuan to 6 billion yuan to raise its ability of debt repayment. (Sing Tao Finance B4)
Poly (Hong Kong) Investments (199 HK) announced that its contracted sales for December in 2009 amounted to 700 million yuan. Its annual contracted sales reached 8 billion yuan last year, exceeding its target sales of 5.5 billion yuan, with a sold gross floor area of 1.2 million square meters. (Sing Tao Finance B4)
SHKP (16 HK) has obtained a pre-sale consent from the Lands Department last month to sell its 1886 residential units in YOHO Midtown. The construction of the units is expected to be completed by September 30. (Hong Kong Economic Journal P. 10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
