Parent of China State Construction Intl (3311 HK) announced it will change the usage of partial financing raised from IPO that three projects amounting 6.85 billion yuan will be terminated. (Hong Kong Economic Journal P. 4)
Esprit Holdings (330 HK) is seeking three to five year loan for HK$2.4 billion to HK$2.6 billion to acquire stake in a joint venture of China Resources (0291). (Sing Tao Finance B3)
Far East Consortium International (35 HK) has agreed to issue convertible bonds worth HK$900 million at most. The net proceeds of the bond issue will be used for business development including land bank acquisitions and financing development. (Hong Kong Economic Journal P. 4)
GCL-Poly Energy (3800 HK) announced that it has established an American depositary receipt facility, which has become effective on 4 January. The number of ADSs registered is 50 million. The purpose of the ADS is to increase liquidity of the company’s shares in the Hong Kong and the US and to provide an access to the US capital market, the board of directors says. (Hong Kong Economic Times A8)
Kith Holdings (1201 HK) announced that its proposed TDR listing has been approved by Taiwan authorities. Various existing holders would transfer 60 million ordinary shares of HK$0.10 each to Yuanta Commercial Bank, no new shares would be issued. (Hong Kong Economic Times A8)
Shanghai Forte Land (2337 HK) said its contractual sales was 969 million yuan in December, a double from a year ago. Sales area was approximately 71,953 square meters, surging up 46.74 per cent from the previous year. (Hong Kong Economic Journal P. 4)
Yue Yuen Industrial (551 HK) announced that its net consolidated operating revenue was US$4.971 billion for 2009, down 2.9 per cent compared to a year ago. For December alone, its net consolidated operating revenue was US$469 million, edging up 0.67 per cent compared to a year earlier. (Sing Tao Finance B3)
Asia Cassava Resources (841 HK) said its unaudited sales for the nine months ended December last year amounted over 1 million tonnes, up 0.75 million tonnes from the previous quarter. The company estimates market demand for Cassava to raise to 6 million tonnes this year. (Hong Kong Economic Times A14)
China Metal Recycling (773 HK) has agreed to acquire 99.68 per cent stake in Jiangyin Port Container Company for 220 million yuan. The company has been granted credit lines worth 3.5 billion yuan from four mainland banks. (Hong Kong Economic Times A14)
Datang International Power Generation (991 HK) announced that the power generation last year amounted to 133.6 billion kWh, rising 12 per cent from a year ago. The increase was attributable to a rise in capacity of its operational generating unit. (Hong Kong Economic Times A14)
Glorious Property (845 HK) announced that its contracted property sales amounted to 6.75 billion yuan last year with a gross floor area of 0.657 million square meters, representing a 78 per cent increase in sales volume from a year ago. The developer targets a sales volume of over 10 billion this year. (Hong Kong Economic Journal P8)
Grand T G Gold Holdings (8299 HK) announced that it has placed 1.065 billion shares to Mr Ma at a price of 7 HK cents per share to repay debts. The deal is a 40 per cent discount on its closing price before the resumption of trading. (Sing Tao Finance B13)
HKC (190 HK) announced that it has completed construction of the second and third phrases of its wind power station in Hebei. The company plans to start its production in the second quarter this year. (Sing Tao Finance B13)
Shanghai Zendai Property (755 HK) has agreed to issue 1.55 billion new shares to China Alliance and 400 million new shares to an independent third party at a price of 0.31 yuan per share to raise HK$604 million. (Sing Tao Finance B13)
SouthGobi Energy Resources (1878 HK), a Canada-listed coal miner, starts its roadshows today and plans to list in Hong Kong on January 29. The miner has introduced CIC and Temasek to be its cornerstone investors, sources told Reuters. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
