Hong Kong Stock Market Wrap Feb. 25th, 2010

ASM Pacific Technology (522 HK) said its net profit amounted to HK$935 million for the year ended December 31 in 2009, dropping 4 per cent year-on-year. Earnings per share were HK$2.38. A final dividend of HK$1.20 and a second special dividend of HK$0.4 per share were declared. (Sing Tao Finance B3)

Beijing Capital Land (2868 HK) has agreed to acquire a land plot in Fangshan District in Beijing for 926 million yuan with a floor area of 360,000 square meters. (Sing Tao Finance B2)

Hong Kong-based China Everbright (165 HK) said it plans to establish a 3 billion yuan new energy fund with four local firms from Jiangyin city. (Hong Kong Economic Journal P. 8)

China Railway Group (390 HK) said it has won four more projects worth of 1.09 billion yuan. The group has 12 projects in hand so far, involving 1.32 billion yuan. (Sing Tao Finance B2)

CLP Holdings (2 HK) has recorded a net profit of HK$8.2 billion for the year ended December 31 in 2009, slumping 21 per cent year-on-year. Earnings per share were HK$3.55. A final dividend of HK$0.92 per share was declared. (Sing Tao Finance B2)

Dah Chong Hong (1828 HK) said it has acquired 77 per cent stake in Jiangnanfeng for HK$12 million. The company intends to develop the land site held by the latter in Shanghai and develop its business into an upstream FMCG and food-processing base. (Sing Tao Finance B2)

Parent of Geely Automobile Holdings Ltd (175 HK) said yesterday it plans to buy Chinese special vehicle maker Zhejiang Zhongyu Automobile Co as it moves to expand its product portfolio. (Hong Kong Economic Journal P. 8)

Based on the preliminary estimate by Huadian Power (1071 HK), the unaudited net profits attributable to the shareholders of the company for the year 2009 are expected to be between 1.1 billion yuan and 1.3 billion yuan. (Hong Kong Economic Journal P. 8)

Li & Fung (494 HK) has agreed to pay as much as £ 173 million (HK$2 billion) to buy Visage Group Ltd., a private-label apparel supplier to U.K. retailers. (Hong Kong Economic Times A12)

Manulife Financial (945 HK) has posted a net profit of HK$3.047 billion for 2009 on a rebounding Hong Kong stock market. The company now plans to hire 10 per cent more staff each year so to raise the number of agents to 7,000 by 2015. (Sing Tao Finance B3)

Ng Hing Hong (1047 HK) has recorded a net profit of HK$7.51 million for the sixth months ended December 31 in 2009. Earnings per share were 2.03 HK cents. A dividend of 1 HK cent per share was declared. (Sing Tao Finance B2)

Sinopharm Group (1099 HK) plans to acquire stake in Traditional & Herbal Medicine Company for 122 million yuan. The company will inject capital of 50 million yuan to Hebei company upon completion of the deal. (Sing Tao Finance B2)

Sino Land (83 HK) has posted an interim net profit of HK$2.034 billion for 2009, dropping 22 per cent compared with a year ago. Earnings per share were 68.25 HK cents. An interim dividend of 10 HK cents per share was declared. (Sing Tao Finance B3)

SOHO China (410 HK) announced that it expects a significant increase in profit for the year ended 31 December in 2009 as compared with that for the corresponding period in 2008 on the substantial growth in booked area and corresponding average selling price, and revaluation gain arising from its investment property. (Hong Kong Economic Times A14)

Wharf (4 HK) announced it expects a 10 million square feet sales target for mainland property this year for HK$10 billion. (Hong Kong Economic Journal P. 8)

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

Hong Kong Stock Market Wrap Feb. 24th, 2010

IPO: Man Wah Holdings, a furniture manufacturer and retailer focusing on China, Hong Kong, Europe and US markets, plans to list on the Hong Kong bourse for HK$3.12 billion. The company will attend listing hearing today. (Hong Kong Economic Journal P. 12)

Anta Sports Products (2020 HK) has posted a net profit of 1.25 billion yuan for the year ended December 31 in 2009, surging 39.8 per cent year-on-year. Earnings per share were 50.23 fens. The company proposes a final dividend of 12 HK cents and a special dividend of 11 HK cents per share. (Sing Tao Finance B2)

BBMG (2009 HK) has agreed to acquire stakes in three cement and concrete companies in Beijing for 507 million yuan. The annual production of cement and concrete will be raised by 1.5 million tons and 0.3 million cubic meter respectively upon the completion of acquisition. (Sing Tao Finance B2)

Sources said Cathay Pacific (293 HK) will complete signing an agreement with Air China (0753) to form an air-cargo venture before this weekend. Cathay Pacific will inject five to six cargo planes to the JV while the latter will inject seven. (Hong Kong Economic Journal P. 12)

China Pharmaceutical Group (1093 HK) has agreed to form a joint venture for carrying out logistic business with SPG. The company holds 99 per cent stake in the JV and will inject 49.50 million yuan to it. (Sing Tao Finance B4)

China Zhongwang Holdings (1333 HK) said its audited profit for the year ended December 31 in 2009 is expected to increase by 70 per cent compared to the corresponding period of the prior year on strong demand for aluminum extrusion products. (Sing Tao Finance B4)

CNOOC (883 HK) parent has posted a net profit of US$7.6 billion (HK$59.3 billion) for last year, with an oil production of 47 million tones within the period, rising 11 per cent year-on-year.

Comba Telecom Systems (2342 HK) said its net profit for the year ended December 31 in 2009 is expected to increase by over 100 per cent comparing with that a year ago due to rising products demand. (Sing Tao Finance B4)

Fosun International (656 HK), China’s largest non-state-owned conglomerates, has signed an agreement to establish a strategic relationship with Carlyle Group to launch a yuan-denominated private equity fund. (Sing Tao Finance B4)

Geely (175 HK) parent has agreed to take over Zhongyu Automobile, a subsidiary of Zhejiang Zhongyu Holding Group, so to enter the mainland automobile market. (Hong Kong Economic Journal P. 12)

Great Eagle (41 HK) has recorded a net profit of HK$1.18 billion for 2009, jumping 10.9 per cent compared with a year ago. A final dividend of 35 HK cents per share was declared. (Sing Tao Finance B2)

Hutchison Whampoa (13 HK) said it will refinance its HK$5 billion loan due soon. The company also plans to invest HK$12 billion in UK projects such as retails and properties. (Sing Tao Finance B2)

SUBSTANTIAL SHAREHOLDER ADDS STAKE Substantial shareholder of Lumena Resources (67 HK), Liyan, added 10 million Lumena stakes at a price of HK$2.18 each for HK$21.8 million on February 19.

SPG Land (337 HK) is expecting to record a significant increase in profit for the year ended December 31 in 2009 as compared with that for the corresponding period in 2008 on the substantial growth in sales volume and selling prices. (Hong Kong Economic Times A12)

Zznode Technologies (2371 HK) has agreed to acquire 98 per cent stake in Kery Media for HK$110 million. The deal will be settled in cash and issue of 100 million shares at HK$1.00 apiece. (Sing Tao Finance B4)

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

Hong Kong Stock Market Wrap Feb. 23rd, 2010

IPO: Rumour has it that Chongqing Rural Commercial Bank plans to list on the Hong Kong bourse with 2.3 billion shares at HK$3.5 each to raise at least HK$8 billion. (Hong Kong Economic Journal P. 6)

Bank of Communications (3328 HK), China’s fourth-largest lender by market value, plans to raise as much as 42 billion yuan by offering 1.5 shares for every 10 held in a rights offer for investors in Shanghai and Hong Kong. (Sing Tao Finance B1)

BYD (1211 HK) said it aims to export 5 per cent to 10 per cent of its total number of vehicle produced this year, compared with the 2.2 percent of its 450,000 vehicles last year. In addition, the company plans to enter the Western European market for clean technology cars next year, following its plans to export electric cars to the US this year. (Sing Tao Finance B2)

Cathay Pacific (293 HK), Hong Kong’s largest carrier, and Air China Ltd. (0753) intend to sign an agreement on forming an air-cargo venture, according to sources. Cathay Pacific and Air China both said that talks were under way and no details can be disclosed at this moment. (Sing Tao Finance B2)

China Vanadium Titano-Magnetite Mining (893 HK) has posted a net profit of 328 million yuan for the year ended December 31 in 2009, surging 32 per cent year-on-year. Earnings per share were 0.2 yuan. No dividend was declared. (Sing Tao Finance B2)

China XLX Fertiliser (1866 HK) first posted its annual results after its listing with a net profit of 99.42 million yuan, diving 71.7 per cent on excess supply. (Hong Kong Economic Times A10)

Emcom International (8220 HK) has appointed Mr. Chiau Sing Chi as executive director for an initial term of five years. Meanwhile, the company will change its name to Bingo Group Limited. (Sing Tao Finance B2)

Green Global Resources Limited (61 HK), which proposed to change the name to North Asia Resources Holdings Limited, said its Mongolian mine acquired last year will produce the first batch of iron ore in September with one million tones. (Hong Kong Economic Times A10)

HSBC Brazilian unit executive director Helio Duarte denies that the lender is considering an initial public offering of its Brazilian unit to finance expansion. (Sing Tao Finance B2)

Hutchison Whampoa (13 HK) said it plans to spend £ 1 billion (HK$11.9 billion) to further invest in UK assets in the coming two years. (Hong Kong Economic Journal P. 4)

Renhe Commercial Holdings (1387 HK) announced that it has secured approvals from the National Civil Air Defense Office to develop and operate underground commercial centres in Dadukou District and Banan District in Chongqing. (Hong Kong Economic Times A10)

Shanghai Electric Group (2727 HK) plans to sell 48 per cent stake in Shanghai Rail Traffic Equipment Development Co., Ltd. to China CNR Corporation Limited for 365 million yuan. (Sing Tao Finance B2)

TCC International Holdings (1136 HK) announced at the EGM approval of certain acquisition of clinker and cement production operations and the increase in authorized share capital of the company. (Hong Kong Economic Journal P. 7)

Town Health International (3886 HK) has agreed to place a maximum of 587 million shares at a price of HK$0.81 each for HK$464 million. (Hong Kong Economic Times A10)

Xtep International (1368 HK) aid it recorded strong sales order book growth of 23 per cent year-on-year in the third quarter sales fair. Sales orders values for apparel products rises 25 per cent year-on-year, while that of footwear grows 22 per cent. (Sing Tao Finance B2)

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

Hong Kong Stock Market Wrap Feb. 22nd, 2010

361 Degrees International (1361 HK) has recorded a net profit of 357 million yuan for the six months ended December 31 in 2009, jumping 177 per cent compared with a year earlier. Earnings per share were 0.173 yuan. An interim dividend of 4.9 HK cents per share was declared. (Sing Tao Finance B3)

Air China Ltd (753 HK) said it has entered into an agreement to buy 20 Airbus 320 series aircraft. The combined price for the airplanes is HK$1.63 billion and the airline received significant price concessions. (China Daily Hong Kong Edition P. 15)

Champion REIT (2778 HK) has posted a total revenue of HK$2.035 billion for the year ended December 31 in 2009, surging 26 per cent year-on-year. A final distribution per unit was 13.13 HK cents, dropping 5.8 per cent compared with a year ago. (Sing Tao Finance B2)

China Merchants Bank (3968 HK) has agreed to conduct the rights issue on the basis of 1.3 rights shares for every 10 shares held by shareholders. The rights shares worth HK$2.48 billion A and H shares. (Hong Kong Economic Times A8)

China Mobile (941 HK) said the number of its newly-subscribed 3G user rose to 3.90 million in January. The net addition of customers amounts to 5.12 million last month and the total number of customers reaches 527 million. (Hong Kong Economic Journal P5)

CRV Guangzhou, a wholly-subsidiary of China Resources Enterprise (291 HK), has agreed to acquire the entire equity interest in Hefei Shen Guo Tou Commercial Property Co., Ltd. for 180 million yuan, including certain designated liabilities of the latter. (Sing Tao Finance B3)

CSAHC (1055 HK) announced that its parent has injected 1.5 billion yuan into the company so to support its principal aviation business development. (Hong Kong Economic Times A9)

China Telecom (728 HK) announced that it had a net addition of 3.05 million CDMA mobile-phone subscribers in January, after a net addition of 3.1 million subscribers in the prior month. By the end of January, the CDMA subscriber number stood at 59.14 million. (Hong Kong Economic Times A8)

China Unicom (762 HK), the nation’s No. 2 mobile carrier, said number of new subscriber of 3G services for January amounted to 0.85 million, lower than the 0.92 million in December. (Hong Kong Economic Times A8)

China Vanadium Titano-Magnetite Mining (893 HK) has recorded a net profit of 328 million yuan for the year ended December 31 in 2009, rising 32 per cent compared with a year ago. Earnings per share were 0.2 yuan. No dividend was declared. (Sing Tao Finance B3)

Hua Han Bio-Pharmaceutical (587 HK) said its net profit for the six months ended December 31 in 2009 was HK$102 million, rising 27 per cent year-on-year. Earnings per share were 7.7 HK cents. No dividend was declared. (Sing Tao Finance B3)

Parkson Retail Group (3368 HK) has posted a net profit of 910 million yuan for the year ended December 2009, edging up 8.3 per cent year-on-year. Earnings per share were 0.325 yuan. A final dividend of 0.1 yuan per share was declared. (Sing Tao Finance B3)

Ping An Insurance (Group) Co (2318 HK) of China, the country’s second-largest insurer, said there will be 39.7 billion worth locked-up A shares unlocked next month. Some shareholders have informed Ping An that they will sell their stake through secondary market in five years’ time. (Hong Kong Economic Times A8)

Poly (Hong Kong) Investments (119 HK) has recorded a net profit of HK$662 million for the year ended December 31 in 2009, rocketing 200 per cent year-on-year. Earnings per share were 30 HK cents. A final dividend of 4.4 HK cents per share was declared. (Sing Tao Finance B2)

Tsingtao Brewery (168 HK) said it expects its net profit for 2009 to increase between 75 per cent and 85 per cent comparing with the corresponding period last year. The company earned about 700 million yuan for 2008. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Feb. 19th, 2010

IPO: Epure International, which originally plans to list in Hong Kong in March, said it will delay its listing by a month to the end of April or early May. The target amount of financing to be raised also increases from US$300 million (HK$2.34 billion) to US$400 million (HK$3.12 billion). (Hong Kong Economic Journal P4)

IPO: Zhongsheng Group Holdings, one of China’s biggest car dealerships, is set to begin its pre-marketing today. The company plans to raise HK$7.8 billion. It will start its road show on March 3. (Hong Kong Economic Journal P4)

Bright Prosperous Holdings Limited (723 HK) announced that it has agreed to buy the entire stake in a company incorporated in Brazil holding, among others, certain forest area in Brazil, forest concession rights, a wood processing plant, investment interests in a flooring company and exclusive production rights for HK$295 million. (Hong Kong Economic Times A10)

China Oriental (581 HK) said its consolidated profit for 2009 is expected to increase significantly as compared with that for the prior year. The profit was attributable to an increase in sales and the decrease in production cost of steel products. (Hong Kong Economic Times A10)

Air France-KLM boss Pierre-Henri Gourgeon said KLM will form a joint venture with China Southern Airlines (1055 HK) to operate routes between Guangzhou and Paris, said foreign sources. Rumour also has it that China Southern Airlines is forming cargo JV with China Eastern Airlines (0670). (Hong Kong Economic Times A10)

HSBC U.S Inc., has sold its interest in Wells Fargo HSBC Trade Bank, N.A., consisting of 20 per cent of the Trade Bank common stock and 100 per cent of its non-voting preferred stock, to Wells Fargo Holdings Corporation for US$171 million (HK$1.33 billion) in cash. (Hong Kong Economic Journal P. 3)

Hutchison Telecommunications (Australia), controlled by Hutchison Whampoa (13 HK), said its net profit for 2009 was A$467.7 million, compared to a net loss of A$163.1 million the previous year, thanks to the merger of operating subsidiary and Vodafone Australia. (Hong Kong Economic Journal P. 3)

New Times Energy (166 HK) has agreed to acquire three gold mines, namely Banbishan Gold Mine, Sanjia Gold Mine and Qingheyan Gold Mine, for HK$600 million. The gold mines have a total mining area of approximately 6.3549 sq km. and contain gold ore resources estimates of approximately 3.9 million tones. (Hong Kong Economic Journal P. 4)

Wing On Travel (1189 HK) announces that on February 3, it entered into an agreement with a third party regarding the proposed disposal of 90 per cent interest in a wholly-owned subsidiary. (Hong Kong Economic Journal P. 3)

Country Garden Holdings (2007 HK) said its sales during the lunar New Year holiday (February 13 to 19) amounted to 1.08 billion yuan, surging 97 per cent year-on-year. (Hong Kong Economic Times A12)

Green Global Resources (61 HK) has agreed to acquire 9.99 per cent stake in Golden Pogada, which holds a mining rights licence of an iron ore mine in Mongolia, for HK$192 million. The deal will be settled by a share placement of 50.60 million shares at a price of HK$3.80. (Sing Tao Finance B12)

ICBC (1398 HK) plans to spend 16.5 billion yuan on investments in fixed assets for this year. In addition, the lender has appointed Wang Lili as its executive director. (Sing Tao Finance B13)

Rumour has it that Legend Holdings, parent of Lenovo Group (992 HK), has agreed to acquire 12 per cent stake in BOC International (China) Limited, which is originally held by the State Development & Investment Corporation, for 900 million yuan, according to the mainland media. (Hong Kong Economic Journal P4)

Top Form International (333 HK) has posted a net profit of HK$30.82 million for the six months ended December 31 in 2009. Earnings per share were 2.9 HK cents. An interim dividend of 1.5 HK cents per share was declared. (Sing Tao Finance B13)

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

Hong Kong Stock Market Wrap Feb. 18th, 2010

IPO: The Russian iron ore and steel producing company Metalloinvest Holdings (Metalloinvest) is considering an initial public offering of 10 to 20 per cent of its shares in a year to 18 months in Hong Kong and UK, Reuters has reported, citing Metalloinvest's co-owner Alisher Usmanov. (Hong Kong Economic Journal P. 2)

Asia Energy Logistics Group (351 HK) has agreed to acquire 900 million or 2.48 per cent stake in Tack Hsin in the open market at a price of HK$2.31 each for HK$20.80 million. (Sing Tao Finance B3)

China Unicom (Hong Kong) Ltd (762 HK), the country’s second-biggest mobile-phone carrier, slid 1.3 per cent to HK$8.87 after denying a Nigerian government statement that it is involved in bidding for Nigerian Telecommunications Ltd. (Hong Kong Economic Journal P. 6)

Comtec Solar Systems (712 HK) has signed an agreement with China Sunergy to further provide 40MW of large solar wafers. The company also plans to expand its production to 504MW by the end of June and 600MW in the third quarter. (Sing Tao Finance B2)

Greenfield Chemical Holdings’ (582 HK) non wholly-owned subsidiary has agreed to acquire property assets in Zengcheng City in Guangdong with a total floor area of 66,600 square meters for 18 million yuan. (Sing Tao Finance B2)

Green Energy Group (979 HK) has agreed to grant a loan of HK$30 million to the third parties with an interest rate of 5 per cent per annum as they are in negotiation for proposed acquisition. (Sing Tao Finance B2)

HSBC Bank Canada said net income for 2009 was C$448 million, a decrease of 21.8 per cent compared with C$573 million for the prior year. The net interest income fell 10 per cent to C$1.479 billion while non-interest income grew 13.6 per cent to C$951 million. The provision for credit losses was C$515 million, up 35.88 per cent compared with 2008. (Hong Kong Economic Times A9)

Hutchison Telecommunications International (2332 HK) said it will postpone its board meeting for 2009 results because it is still in discussions with the US Securities and Exchange Commission on certain accounting treatments adopted by the company. The company had previously planned to hold the board meeting today. (Hong Kong Economic Journal P. 2)
Success Pioneer Limited (332 HK), substantial shareholder of Ngai Lik Industrial Holdings, has placed 1.468 billion existing shares at a price of HK$0.04 per share for HK$58.73 million. (Sing Tao Finance B3)

NWS Holdings (659 HK) said that its unaudited interim results for the six months ended December 31 in 2009 may record a significant increase in profit as compared with the corresponding period in 2008 on the disposal of Taifook Securities Group Limited (0665). (Sing Tao Finance B2)

Pacific Andes International (1174 HK) announced it has gained approval for the proposed secondary listing on the Oslo Bors of the securities of its 42 per cent-owned subsidiary listed in Singapore, China Fishery Group Limited. The first day of listing of the shares on the Oslo Bors will be a date not later than 31 March 2010. (Hong Kong Economic Journal P. 6)

Chinese food supplement maker Ruinian International (2010 HK) is set to begin trading today. Prices of the health food maker in grey market closed at HK$3.13 yesterday, surging 4.33 per cent from the HK$3 offer price. Earnings per board lot of 1000 shares were HK$130. (Hong Kong Economic Times A8)

Shares of Sands China (1928 HK), a Macao casino operator, fell 2.49 per cent at the opening and dived 5.7 per cent to HK$10.60 yesterday after trading resumed. (Hong Kong Economic Times A8)

The company announced that it is exploring the feasibility of a separate listing of a business unit. Share price of Sing Tao News Corporation (1105 HK) grew by 29 per cent yesterday, hitting one-year high. (Sing Tao Finance B2)

Wing Hing International (621 HK), a construction group in Hong Kong, has agreed to acquire two gold mines in Hebei for HK$288 million. The deal is settled in cash of HK$45 million, 225 million new shares at a price of HK$0.20 apiece and a HK$198 million worth of promissory note. (Sing Tao Finance B2)

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

Hong Kong Stock Market Wrap Feb. 17th, 2010

Rumour has it that Bank Comm (3328 HK) plans to raise through a A+H rights issue for HK$40 billion. The lender hopes to discuss the plan in March. (Hong Kong Economic Times A8)

China Mobile (941 HK) said it plans to expand the scale of a telecom company in Pakistan it acquired three years ago. The giant is also seeking M&A opportunity overseas. (Hong Kong Economic Journal P. 4)

China Environmental Resources Group (1130 HK) has signed a non-legally binding LOI with Dangshan County in Anhui Province that the company will invest 30 million yuan to establish an organic fertilizer production centre and related facilities with production capacity of 100,000 tons. (Sing Tao Finance B2)

China Public Procurement (1094 HK) has agreed to issue ELDI in the principle amount of HK$40 million to Standard Bank Plc. The conversion price will be reset each day. Based on the conversion price as at the date of the subscription agreement of HK$0.9, about 1.36 per cent of the issued share capital will be enlarged by those conversion shares. (Sing Tao Finance B2)

New Generations Telecommunications, a conglomerate led by China Unicom (762 HK), has agreed to acquire 75 per cent stake in a Nigeria telecommunication company and its mobile phone unit M-TEL for US$2.5 billion (HK$19.5 billion). (Sing Tao Finance B3)

VOLUME SURGES 20% COSCO Pacific (1199 HK) said throughput for January has surged 19.7 per cent year-on-year to 38 million TEU, boosted by increasing volume Zhujiang Delta and Eastern south costal areas. (Hong Kong Economic Times A8)

CSI Properties (497 HK) head Mico Chung Cho-yee and investment banker Francis Leung Pak-to will together subscribe for new shares of Imagi International (0585) worth at least HK$131.6 million as Imagi will raise HK$100.8 million through a rights issue and negotiate with creditors on loans of HK$241 million. (Hong Kong Economic Times A8)

Industrial Bank of Hang Seng Bank (11 HK) eyes to refinance in the first quarter and has just announced its HK$18 billion rights issue plan. (Hong Kong Economic Times A8)

HSBC (5 HK) plans to launch a HIBOR-linked mortgage plan and will announce the details today at the earliest. The current lowest plan in the market is HIBOR plus 0.7 percentage point. (Hong Kong Economic Journal P. 6)

i-Cable Communications (1097 HK) has applied to launch free-to-air channels, regulatory said it will take at least nine months to issue a license. i-Cable expects to get the license in November at the earliest. (Sing Tao Finance B2)

Imagi (585 HK) said investment banker Francis Leung Pak-to is set to become the controlling shareholder through a revamp aimed at strengthening the firm’s financial situation. Imagi will raise HK$100.8 million through a rights issue and negotiate with creditors on loans of HK$241 million. (Sing Tao Finance B2)

Meike International (953 HK) plans to place 37.5 million over-allotment shares at a price of 1.43 apiece for HK$53.62 million. (Sing Tao Finance B2)

Ming Kei Holdings (8239 HK) announced that it has issued 3-year convertible bonds at a price of HK$1.67 apiece, a 7.7 per cent discount on the last trading price for HK$20 million. The proceeds will be used for general working capital. (Sing Tao Finance B2)

A joint venture of 200 million yuan registration fee, formed by SPG Land (337 HK) and a mainland company, has won a bid of land plot in Wuxi for 350 million yuan. (Hong Kong Economic Times A8)

According to sources, Sun Hung Kai Properties (16 HK) plans to boost its 5-year loan to as much as HK$16 billion for refinancing. The loan will pay about 88 basis points more than HIBOR. There are 20 lenders intending to join its refinancing in which HSBC (0005) will provide HK$2 billion loans. (Hong Kong Economic Journal P7)

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

Hong Kong Stock Market Wrap Feb. 12th, 2010

IPO: According to sources, AIA is rumoured to raise up to US$20 billion (HK$156 billion) through its initial public offering in Hong Kong in April. (Hong Kong Economic Times A2) EuroSibEnergo, a power division of Deripaska’s energy holding company, plans to list on the Hong Kong bourse, to raise between US$1 billion and US$2 billion, according to sources. Epure International, a Singapore-listed turnkey water and wastewater treatment solutions providers in China, plans to list on the Hong Kong bourse in March to seek up to US$300 million (HK$2.34 billion). (Hong Kong Economic Journal P. 6)

China Shanshui Cement announced that its unaudited consolidated profit for the fourth quarter of 2009 is expected to decrease compared with the corresponding period in 2008. (Sing Tao Finance B9)

Country Garden (2007 HK) announced that it is considering amending certain terms of its 11.750 per cent senior notes due 2014 in order to facilitate its participation in the project of the Asian Games City and other business needs. (Sing Tao Finance B9)
Heng Xin China Holdings (8046 HK) has recorded a net profit of HK$90.77 million for the year ended December 31 in 2009, surging 193 per cent year-on-year. The company declares no dividend. (Sing Tao Finance B9)

Rumour has it that a conglomerate led by Francis Leung is intended to invest in Imagi International (585 HK). The company said Tuesday that it is in exclusive talks with a potential investor that could become its controlling shareholder. HK$3.5 million has been paid to the company by the interested conglomerate. Yet, no binding agreements have been reached. (Sing Tao Finance B9)

International Entertainment (8118 HK) has posted a net profit of HK$185 million for the nine months ended December 31 in 2009, surging 28.5 per cent year-on-year. No dividend was declared. (Sing Tao Finance B9)

Siberian Mining Group (1142 HK) proposes to implement the share consolidation on the basis that every 50 shares will be consolidated into one consolidated share. The company also changes the board lot size for trading in the shares from 20,000 shares to 2,000 consolidated shares. (Sing Tao Finance B9)

C C Land (1224 HK) has agreed to sell 60 per cent stake in its Chengdu project with an expected profit of HK$104 million. The company’s land bank amounts to 10.10 million square meters upon the completion of sales. (Sing Tao Finance B3)

According to The Times, shareholders of HSBC (5 HK) oppose to the proposed pay rise for its top executives, especially the pay of its chief executive Michael Geoghegan in 2009, who relocated his office to Hong Kong on February 1. In addition, it is estimated that bonus paid to HSBC staffers would amount to £1.5 billion (HK$18.24 billion). (Hong Kong Economic Times A9)

Kingsoft Corporation (3888 HK) said its cooperation with Shanda Interactive Entertainment Limited helps to raise the average revenue per user (ARPU) and user’s loyalty to its products. The company will continue to focus on developing large-scale games and has no plans to develop games for mobile phones at present. (Hong Kong Economic Times A9)

Z-Obee (948 HK) has recorded a margin of HK$11 million for the first day of its IPO which started last Friday as its IPO is conducted during a long Chinese New Year holiday. (Hong Kong Economic Journal P. 6)

ZTE’s (763 HK) executive director He Shiyou said the company expects the number of user of TD-SCDMA mobile phone to grow to 18 million next year on the generalized TD-SCDMA technology on the mainland. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Feb. 11th, 2010

IPO: American International Assurance Co. (AIA), the Asian life-insurance unit of American International Group Inc. (AIG), is rumoured to have its listing hearing in March and plans to start roadshows in April to seek up to US$15 billion (HK$117 billion), according to sources. (Hong Kong Economic Journal P4)

Bank of East Asia (23 HK) has recorded a net profit of HK$2.57 billion for the year ended December 31 in 2009, rose sharply from HK$39 million in 2008. Earnings per share were HK$1.36. A final dividend of 48 HK cents per share was declared. (Sing Tao Finance B3)

According to a report from Citibank, Cheung Kong Infrastructure (138 HK) may privatise Spark Infrastructure which is listed in Australia as there is an urgent need for the latter to seek financing. (Hong Kong Economic Times A10)

China Leason Investment (8270 HK) has agreed to sell 100 per cent stake in its subsidiary Shine Science BVI for 60 million yuan. Revenue of 27 million yuan has been made in the deal. (Sing Tao Finance B3)

CITIC 1616 Holdings (1883 HK) has agreed to acquire 20 per cent stake in Companhia de Telecomunicacoes de Macau, S.A.R.L. (CTM ) from its parent CITIC Pacific Limited (0267) for HK$1.4 billion in which HK$467 million is settled in cash and the rest is paid by issuing new shares at a price of HK$2.30 each. (Sing Tao Finance B3)

China Datang Corporation (991 HK), parent of Datang International Power Generation, has purchased 124 million H shares of the latter via off-market transactions in Hong Kong. Its parent said it intends to continue to purchase H shares of the latter within 12 months. (Hong Kong Economic Times A10)

Rumoured has it that Foxconn (2038 HK) plans to spend US$200 million (HK$1.55 billion) on setting up a mobile phone factory in the Northern part of Vietnam. It is expected to produce 89 million units of mobile phone annually. (Sing Tao Finance B3)

Great China Holdings (141 HK) expects to record a significant increase in profit for the year ended December 31 in 2009. The company attributes the expected growth to the increase in trading volume and trading prices of fishmeal trading during the year. (Sing Tao Finance B3)

Guoco has been raising its stake in Bank of East Asia (0023) from 7.89 per cent to 8.03 per cent by purchasing 1 million shares at an average price of HK$26.541 apiece on February 5, leading to a market speculation that the group would launch a bid for the lender. (Hong Kong Economic Journal P2)

SUSPECTS TRADING Imagi International (585 HK) suspected trading yesterday as the company said there are a possible capital and debt restructuring and the possible change of control in the shareholding of the company. (Sing Tao Finance B3)

Manulife Financial (945 HK) has posted a net profit of CAD868 million (HK$6.37 billion) for the fourth quarter ended December 31 in 2009, against a net loss of CAD1.87 billion (HK$13.7 billion) compared with a year ago. A dividend of CAD 0.13 per share was declared. (Sing Tao Finance B3)

Shui On China Central Properties Limited, a wholly-owned subsidiary of Shui On Construction (983 HK) and Materials, has agreed to sell the entire stake in Prosper Idea Limited for HK$367 million. (Sing Tao Finance B3)

SPG Land (337 HK) has agreed to acquire two land plots in Wuxi in Jiangsu for 4.95 billion yuan. The company’s land bank amounts to 5 million square meters currently. (Sing Tao Finance B3)

Swire Pacific (19 HK) announced that its board proposes to give due regard to the interests of shareholders by providing qualifying shareholders with an assured entitlement to Swire Properties shares by way of a distribution in specie of Swire Properties shares if the proposed spin-off proceeds. (Hong Kong Economic Times A10)

Z-Obee (948 HK), a Shenzhen-based mobile phone maker, kicks off its initial public offering today. The company plans to issue 114 million shares at the offering price ranging from HK$1.70 to HK$2.29 to raise up to HK$261 million. Entry fee is set at HK$4626.21 per board lot of 2000 shares. The company is currently listed in Singapore. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Feb. 10th, 2010

IPO: Rumour has it that AIA has appointed another seven underwriters after Morgan Stanley and Deutsche Bank, they include Credit Suisse, Goldman Sachs, UBS and Silver Grant International Industries. Sources said AIA has filed a listing application to the regulator and would come on the stage in April to raise US$10 billion to 15 billion. (Hong Kong Economic Times A11)

Air China (753 HK) plans to buy 20 Airbus Series 320 aircrafts for 1.628 billion yuan to raise its transportation capacity by 5 per cent. The company will receive the aircrafts from 2011 to 2014 (Sing Tao Finance B2)

BoCom International of BankComm (3328 HK) has launched the first private direct investment fund to raise US$300 million to 500 million (HK$2.34 billion to 3.9 billion) and will focus on firms going listed within 12 to 24 months. (Hong Kong Economic Times A10)

C C Land (1224 HK) plans to acquire 51 per cent stake in a commercial and residential project in Fuling District in Chongqing for 43.41 million yuan. (Sing Tao Finance B2)

Emperor Entertainment Group (8078 HK) has recorded a net loss of HK$32.49 million for the second half ended December 31 in 2009. Net loss for the six months has been narrowed to HK$33.86 million. No dividend was declared. (Sing Tao Finance B2)

Great Wall Motor (2333 HK) said its automobile sales volume in January rose by more than 1.5 times year-on-year to 25,100 units. (Sing Tao Finance B2)

Greentown China (3900 HK) will probably sign a strategic agreement with Shandong Expressway Co Ltd to spend a total of 5 billion yuan to set up a property joint venture to develop property in Shandong. The real estate developer will hold a stake of between 45 per cent and 49 per cent in the JV. (Hong Kong Economic Times A11)

Huaneng Power (902 HK) announced that it has gained approval from regulatory for an A+H share placement to raise up to 10.31 billion yuan to help finance its clean energy projects, boost capacity and repay debt. The company also announced that the Phase II Project at Gansu Pingliang Power Plant, in which it owns 65 per cent interests, has completed the 168-hour trial run recently. (Hong Kong Economic Times A11)

Sources said Lenovo (992 HK) plans to place 40.35 million shares at HK$5 to HK$5.1 apiece to raise HK$206 million. The placement price is 0.4 per cent to 2.3 per cent discount on its HK$5.12 closing price yesterday. (Hong Kong Economic Times A11)

NagaCorp (3918 HK) has posted a net profit of US$25.46 million for the year ended December 31 in 2009, declining 36 per cent year-on-year. Earnings per share were 1.23 US cents. A final dividend of 0.4 US cent per share was declared. (Sing Tao Finance B3)

PICC Property and Casualty (2328 HK) announced that its direct premiums income for January was 18 billion yuan, surging 37.3 per cent compared to 13 billion yuan for the same period in 2009. (Hong Kong Economic Journal P. 5)

Real Gold Mining’s (246 HK) subsidiary Chifeng Fuqiao has agreed to acquire 100 per cent stake in Jinshi Mining for 60 million yuan. The deal is settled in cash. (Sing Tao Finance B2)

Forte (2337 HK) has acquired entire stakes in Garden Plaza Capital SRL for around HK$2.25 billion Its gross floor area in Shanghai amounted to 97,000 square meters after the deal. (Hong Kong Economic Times A11)

SRE Group (1207 HK) said it has acquired 9 per cent stake in a retail asset in Shenyang for 305 million yuan. (Sing Tao Finance B3)

Wing On Travel (1189 HK) has agreed to acquire 45 per cent stake in the project of Sanya Innovative New City Recreational Park & Marina. The company will inject HK$52.2 million to the project. (Sing Tao Finance B2)

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

Hong Kong Stock Market Wrap Feb. 9th, 2010

Agile Property (3383 HK) said it has acquired a land plot in Nanjing for 105 million yuan with an average price of 4407 yuan per square meter. Meanwhile, the developer has recorded contracted floor sales of 2.5 billion yuan with a total area sold of 210,000 square meters in January. (Sing Tao Finance B2)

Chalco (2600 HK) has agreed to jointly develop and operate a smelter, which will have an initial annual production capacity of 330,000 metric tons, with GIIG Holdings in Sarawak state in Malaysia. The company plans to invest about US$350 million to US$400 million (HK$2.73 billion to HK$3.12 billion) in the joint venture, holding 35 per cent to 40 per cent of stake in it. (Sing Tao Finance B2)

Beijing Capital Land (2868 HK) is looking to maintain contracted sales for this year to the 2009 level of 10 billion yuan, merely a 4 per cent growth year-on-year.
(Hong Kong Economic Journal P. 9)

Chairman of China Metal Recycling Chun Chi Wai (773 HK) bought 1 million shares of the company at an average price of HK$6.729 per share yesterday. He said that the company plans to spend 350 million yuan on capital expenditure this year. (Sing Tao Finance B3)

CNOOC (883 HK) announced that its partner Husky Oil China Ltd discovered a new deepwater gas field in the South China Sea at the Liuhua 29-1 field in the South China Sea. The company has 51 per cent working interest in the discovery. (Sing Tao Finance B1)

Fantasia Holdings (1777 HK) said it has acquired a commercial and residential site in Wuxi with a floor area of 220,000 square meters for 500 million yuan. (Sing Tao Finance B2)

First Pacific (142 HK) announces that Indofood, its 50.1 per cent subsidiary, proposes to split off ICBP, a wholly owned subsidiary of Indofood, which conducts Indofood’s consumer branded businesses relating to noodles, food ingredient, packaging, biscuit, dairy, food seasonings, snack foods, and nutrition and special foods. It is proposed that ICBP will be listed on the Indonesia Stock Exchange. (Hong Kong Economic Times A13)

Franshion Properties (817 HK) has applied for enlarging contraction limit of its project in Beijing, a land bid of HK$4.6 billion won last year, but was disapproved by regulators. (Hong Kong Economic Journal P. 9)

Frasers Property (535 HK) said it has recorded a profit of HK$95.54 million for its first quarter ended December last year, rising 35 times than that of the corresponding period a year ago. Earnings per share were HK$0.014. (Hong Kong Economic Journal P. 9)

Geely Automobile (175 HK) has recorded a total sales volume of 43,800 units for January, surging 137 per cent from the same period last year and 1 per cent from December in 2009. (Hong Kong Economic Times A13)

Grand T G Gold Holdings (8299 HK) has recorded a net profit of HK$0.77 million for the third quarter ended December 31 in 2009, against a net loss of HK$19 million from the corresponding period of the prior year. The company will focus on exploiting gold on the mainland, aiming at producing 65000 ounces of gold this year, said chairman Lee Sing Leung Robin. (Sing Tao Finance B3)

Hang Lung Properties (101 HK) announced that Mr. Henry Yiu Tze-yin has been appointed as its executive director with effect from February 9. (Sing Tao Finance B2)

SMIC (981 HK) said its revenue for the fourth quarter last year edged up 3 per cent to US$333 million, while sales in China accounted for 21 per cent. Gross margins improved to 10.6 per cent compared to 0.8 per cent in the previous quarter primarily due to an increase in wafer shipments and fab utilization. Yet, loss attributable to holders of ordinary shares grew to US$482.3 million due to the settlement of litigation. (Hong Kong Economic Times A13)

Sunlight REIT (435 HK) has posted a net profit of HK$88.9 million for the six months ended December 31 in 2009, sliding 12 per cent compared with a year earlier. Distribution per unit was 6.88 HK cents, a 25.9 per cent decline year-on-year. (Sing Tao Finance B2)

Wah Nam International (159 HK) announced a top-up placement of 334 million shares with a placing price of HK$0.9 each, 18.92 per cent on its closing price. The proceeds amount to HK$297 million while HK$10 million will be used as working capital and the rest for future acquisition. (Hong Kong Economic Journal P. 8)

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

Hong Kong Stock Market Wrap Feb. 8th, 2010

Asia Resources Holdings (899 HK) plans to place 250 million shares at the placing price of HK$0.19 apiece, an 18 per cent discount on the last trading price, to raise HK$46.55 million. (Sing Tao Finance B3)

Beijing Capital Land (2868 HK) has posted a net profit of 540 million yuan for the year ended December 31 in 2009, jumping 40 per cent year-on-year. Earnings per share were 26.55 fens. A final dividend of 11 fens per share were declared. (Sing Tao Finance B4)

CCB (939 HK) has set its annual quota for new loans at 750 billion yuan this year and has set limits for each quarter. The lender would control its new loans to be no more than 30 per cent of this year’s loan ceiling in both the first quarter and the second quarter while that for both the third and fourth quarters should be no more than 20 per cent. (Sing Tao Finance B3)

China Green (904 HK) said the company is benefited from China’s agricultural policy and expects its revenue to surge between 20 per cent and 25 per cent in the fiscal year from May in 2010 to April in 2011. (Hong Kong Economic Times A12)

TO REDUCE SPENDING BY 5.88% China Oilfield Services (2883 HK) plans to reduce its total capital spending by 5.88 per cent to 8.5 billion yuan while 70 per cent of its total spending will be applied to projects under construction. (Sing Tao Finance B3)

China Overseas Land & Investment (688 HK) said its contracted sales in January amounted to HK$4.1 billion, surging 241 per cent year-on-year, with a total floor area of 325,000 square meters sold. The developer has a land bank of 2.27 million square meters and 8 new projects to be constructed. (Sing Tao Finance B3)

China Public Procurement (1094 HK) has entered into a procurement agreement with Hua Tie, a subsidiary of China Railway Construction Materials Group Co., Ltd, to provide no less than 300 billion worth of service on procuring equipment, facilities and materials by the end of 2012. (Sing Tao Finance B4)

A mainland publication reported allegations against the China Zhongwang (1333 HK) about the accuracy of the information set out in its prospectus dated April 24. The company has re-affirmed the accuracy of transactions after conducting an audit review.Trading of the company resumes today. (Hong Kong Economic Times A13)

COSCO International (517 HK) said it will expand its core shipping services and develop trust management this year. The company also plans to raise proportion of its paint business. (Hong Kong Economic Times A12)

Evergrande Real Estate (3333 HK) has recorded contracted sales of 3.48 billion yuan in January, rocketing 331 per cent compared with a year ago. Total floor area sold amounted to 587,000 square meters with an average price of 5921 yuan per square meter. (Sing Tao Finance B3)

Great Wall Motor (2333 HK) has recorded sales of 25,100 units in January, surging 150 per cent year-on-year. Total amount of exports has reached 3,000 units for the same period, a double compared with last year. (Sing Tao Finance B3)

Huaneng Power (902 HK) plans to spin off its wind electricity assets to list on the Hong Kong bourse to raise between US$1 billion to US$1.5 billion (HK$7.8 billion to HK$11.7 billion) this year. (Hong Kong Economic Journal P. 4)

IPO: Australian miner Resource House, which eyes Hong Kong listing next month, said the 20-year the coal purchase agreement signed with China Power (2380) is not a binding contract. The miner said the US$60 billion worth contract amount was an estimate considering market prices across the life of the agreement. (Hong Kong Economic Journal P7)

A consortium led by Simsen International (993 HK) has applied to Deloitte, the liquidator of Fu Ji Catering (1175), for 30 days of due diligence on an acquisition. If accepted, the consortium will put HK$200 million in a designated bank account, a source said. (Hong Kong Economic Times A11)

Smartone Telecommunications (315 HK) said proportion of smartphone users has increased from 40 per cent to 50 per cent since the launch of iPhone sale. (Hong Kong Economic Times A11)

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

Hong Kong Stock Market Wrap Feb. 5th, 2010

BBMG (2009 HK) plans to issue 5 billion yuan worth notes and sell as much as 70 per cent of the notes to investors while keeping the rest. The proceeds will be used for future expansion and working capital. (Sing Tao Finance B3)

BOC Hong Kong (2388 HK) announced that it had offered subordinated notes in a principal amount of US$1.6 billion. The 10-year notes are priced at 99.591 per cent of the principal amount of the notes. The notes bear a fixed interest rate of 5.55 per cent per annum during its term with interest payable semi-annually in arrears. (Hong Kong Economic Times A9)

China SCE Property (1966 HK) has offered 520 million shares on its listing at a price of HK$2.6 apiece. Shares of the company rose by 4.6 per cent on the first day, earning HK$120 per board lot. (Hong Kong Economic Times A9)

CNOOC (883 HK) Limited has agreed to buy a stake in the Ugandan oil assets of Tullow Oil PLC for US$2.5 billion, the Dow Jones Newswires reports, citing people with direct knowledge of the deal. Yet the company said it is merely a market rumour. (Sing Tao Finance B2)

Dah Sing Banking (2356 HK) announced that it had offered subordinated notes in a principal amount of US$250 million. The 10-year notes bear a fixed interest rate of 6.625 per cent per annum during its term. (Hong Kong Economic Journal P. 2)

Rumour has it that an Imagi (585 HK) subsidiary production company has closed down and 200 staff became unemployed. Imagi refused to comment on the issue. (Hong Kong Economic Times A9)

China State Construction (3313 HK), along with two other investors, announced that it has agreed to subscribe for bonds of HK$400 million issued by Skyjoy which now owns land plots in Shijiazhuang. (Hong Kong Economic Times A10)

China XLX Fertiliser’s (1866 HK) chairman Liu Xingxu expects that the company to produce 1.25 million tons of urea this year as its production facilities are fully utilized. By the end of September 31 in 2009, urea sales have reached 712,000 tons. (Hong Kong Economic Journal P4)

Orient Overseas (316 HK) has agreed to sell seven mainland property projects to Capitaland for US$2.2 billion as it plans to exit from the mainland property market. The company said the proceeds will be used for its core businesses such as transportation and logistics. (Hong Kong Economic Journal P11)

Renhe Commercial Holdings (1387 HK) Mr James Ho Hsiang-Ming has resigned as the non-executive director of the company with effect from February 6 in 2010 due to his other business commitments. (Hong Kong Economic Journal P11)

Ruinian International (2010 HK), a provider of health-related products, plans to offer 300 million shares at a price ranging between HK$2.95 and HK$3.78 a piece, to raise as much as HK$1.1 billion through its initial public offering. Entry fee is set at HK$3818.14 per board lot of 1000 shares. (Hong Kong Economic Times A10)

Swire Pacific’s (19 HK) unit Swire Resources expects its sales to grow by 20 per cent during the Chinese New Year on gradual recovery of the retail businesses in Hong Kong boosted by strong economy rebound, its managing director Laiman Tam said. (Hong Kong Economic Journal P4)

Tech Pro Technology Development (3823 HK) has posted a net profit of HK$6.16 million for the year ended December 2009, surging 93 per cent compared with a year ago. Earnings per share were 1 HK cent. No final dividend was declared. (Sing Tao Finance B13)

Wing On Travel (1189 HK) has recorded a net loss of HK$355 million for the year ended December 2009, against a net loss of HK$622 million a year ago. The company said in its annual results that it will announce the details of its proposed takeover later. (Sing Tao Finance B13)

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

Hong Kong Stock Market Wrap Feb. 4th, 2010

Bank of China (2388 HK) has confirmed to issue 10-year US subordinated bonds earlier, market has recorded US$4 billion (HK$31.2 billion) for subscription. (Hong Kong Economic Times A13)

China Aerospace International Holdings (31 HK) plans to place 514 million shares at a price of HK$1.13 per share to raise financing for a project in Hainan Province. (Hong Kong Economic Journal P. 11)

China Strategic Holdings (235 HK) said they are still waiting for regulatory approval for the proposed take-over of Taiwan Nan Shan Life Insurance. The company said it will try hard to answer all enquiries of the authority with respect to the deal. (Hong Kong Economic Journal P. 7)

Greentown China (3900 HK) has recorded contracted sales of 2.4 billion yuan in January, surging 745 per cent year-on-year with a floor area of 138,000 square meters sold. (Sing Tao Finance B4)

Hong Kong Aircraft Engineering Company (44 HK) said its deputy chairman Chan Ping-kit has resigned from his executive duties as his brother has been charged with accepting illegal commissions in relation to the award of HAECO contracts. (Hong Kong Economic Times A13)

Hopewell Holdings (54 HK) has posted a net profit of HK$2.525 billion for the six months ended December 31, surging 171 per cent compared with a year ago. Earnings per share were HK$2.87. An interim dividend of HK$0.45 per share was declared. (Sing Tao Finance B5)

Hutchison Whampoa’s (13 HK) subsidiary Husky Energy Inc, Canada’s third-largest integrated energy company, said it has recorded a profit of HK$10.3 billion, diving 63 per cent compared with that of last year, in line with forecast. (Hong Kong Economic Journal P. 4)

Lenovo Group (992 HK) has posted a net profit of US$79.52 million (HK$616 million) for the third quarter ended December 31in 2009. Net profit for the first three quarters amounted to US$117 million (HK$907 million), surging 213 per cent from a year earlier. Earnings per share were 1.29 US cents. No interim dividend was declared. (Sing Tao Finance B5)

Macau Investment Holdings (2362 HK) has agreed to place 97 million shares at a price of 25 HK cents apiece, a 18 per cent discount on the last trading price, to raise about HK$23.95 million which will be used for general working capital. (Sing Tao Finance B4)

Meadville Holdings (3313 HK) said it has sold 47 million shares of Guangdong Shengyi Sci.Tech through a wholly-owned subsidiary to a third party for HK$592 million. (Hong Kong Economic Journal P. 7)

Poly Investment (119 HK) has recorded 1.58 billion yuan sales in January, a double of that in December last year, contracted sales amounted to 210,000 square meters. (Hong Kong Economic Times A13)

Sunevision Holdings (8008 HK) has recorded an interim net profit of HK$174 million, jumping 130 per cent year-on-year. Earnings per share were 8.57 HK cents. No interim dividend was declared. (Sing Tao Finance B5)

Wharf (Holdings) (4 HK) and China Merchants Property have lost a Nanjing site which they won in 2007 because they did not make a downpayment and sign an official contract on time. The two firms also forfeited their cash deposit of HK$245 million. Both companies had decided to terminate the project in 2008. The loss of the money was fully booked in Wharf’s 2008 accounts. (Sing Tao Finance B2)

It is expected that 90 per cent stake in Wing On Travel (1189 HK) will be acquired by a mainland online travel agent Ctrip.com for US$88 million (HK$682 million). (Sing Tao Finance B4)

UC RUSAL (486 HK), the world’s largest aluminum producer, reduces its debt to US$12.9 billion after paying US$2.14 billion (HK$16.6 billion) to Russian and international lenders from the cash raised by initial public offerings in Hong Kong and Paris. (Sing Tao Finance B4)

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

Hong Kong Stock Market Wrap Feb. 3rd, 2010

Air China (753 HK) plans to buy 400 planes in five to six years’ time and 30 planes for this year to cope with the rising demand for transportation. The company currently has 250 planes. (Hong Kong Economic Times A8)

BOCHK (2388 HK) said it plans to issue 10-year subordinated notes in the US dollar to institutional investors so to early repay in full or in part the subordinated credit facility to its parent. Meanwhile, BOCHK announced that it has recorded a net profit of HK$9.47 billion for the first three quarters ended September 2009, surging 35.5 per cent year-on-year. Net interest income for the period fell 11 per cent to HK$12.38 billion. (Sing Tao Finance B3)

Burwill Holdings (24 HK) plans to quadruple its iron concentrate output using ore from a mine it is buying in eastern China’s Shandong province. The veteran steel trader last year agreed to pay HK$500 million for 51 per cent of the iron ore mine, in a deal expected to close by the end of this month (Hong Kong Economic Times A10)

C C Land Holdings (1224 HK) rejected news reports on the trial of Wen Qiang alleging acceptance of bribes offered by Tsang Wai-choi, deputy chairman and executive director of the company, from 2001 to 2007. (Hong Kong Economic Times A10)

China Mobile (941 HK) said it has no plan to buy a stake in Tencent Holdings Ltd (0700) after a newspaper report cited its chairman Wang Jianzhou as saying he does not ruled out possibility for investment in the future. (Sing Tao Finance B2)
China Starch (3838 HK) has placed 392 million shares at a price ranging between HK$1.40 and 1.60 each, a 7.5 per cent per cent discount on the last trading price, to raise HK$630 million. (Sing Tao Finance B4)

Evergrande Real Estate (3333 HK) announced that its chairman and controlling shareholder Mr. Hui Ka Yan has purchased 60.9 million shares at an average price of HK$ 3.63 each through his wholly-owned Xin Xin (BVI) Limited. Holdings of Mr. Hui have increased from 68.01 per cent to 68.42 per cent after the purchase. (Sing Tao Finance B2)

Esprit (330 HK) has posted a net profit of HK$2.705 billion for the six months ended December 31 in 2009, dropping 5 per cent from the corresponding period last year. Earnings per share were HK$2.12. An interim dividend of 74 HK cents per share was declared. (Sing Tao Finance B4)

Esun Holdings (571 HK) announced that its non-wholly owned subsidiary East Asia Satellite Television (Holdings) Limited has filed its statement of claim with the High Court for breaches of HK$689 million as New Cotai and others failed to co-operate and progress the Macao Studio City project. (Sing Tao Finance B3)

Newly listed International Mining Machinery (1683 HK) shares were 12 times oversubscribed and the company has locked up HK$4.6 billion, beating expectation. (Hong Kong Economic Journal P. 5)

Kith Holdings (1201 HK) announced that it lists and trades 60 million units of TDR in the Taiwan stock exchange today at a price of TWD10.5 apiece (HK$2.55). (Sing Tao Finance B4)

KWG (1813 HK) announced sales for January has reached 900 million yuan, a triple growth year-on-year, and has met 90 per cent of its annual target. (Sing Tao Finance B4)

Shanghai Zendai Property (755 HK) has succeeded in a bid for a land plot in the Bund for 9.22 billion yuan. The developer plans to set up a special company to develop the project. (Sing Tao Finance B4)

Termbray’s (93 HK) substantial shareholders announced privatization proposal yesterday. The consideration for the shares will be either one new share for every existing share or HK$1.20 per apiece payable in cash. (Hong Kong Economic Times A8)

Ctrip.com International Ltd, an online travel service provider, plans to invest HK$88 million to acquire a 90 per cent stake in a travel service unit of Wing On Travel (Holdings) Limited (1189 HK) of Hong Kong, the company said in a statement yesterday. (Hong Kong Economic Times A10)

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

Hong Kong Stock Market Wrap Feb. 2nd, 2010

BBMG’s (2009 HK) subsidiary and a Hebei cement factory jointly set up a cement factory in Handan County for 79.66 million yuan. BBMG’s subsidiary invests 48.75 million yuan and holds 75 per cent stake in the factory. The factory is expected to generate sales of 288 million yuan annually. (Sing Tao Finance B2)

Sources said China Aerospace International (31 HK) has raised as much as HK$607 million through a top-up placement at a 12 per cent discount. (Hong Kong Economic Journal P. 10)

China Longyuan Power Group (916 HK) said it has gained approval from National Development and Reform Commission for the proposed issue of 7-year unsecured corporate bonds in the aggregate principal amounting 1.6 billion yuan. (Sing Tao Finance B2)

China Overseas Land (COLI) (688 HK) said as additional time is required for the fulfilment for the completion of the capital reorganization, COLI, and Shell Electric Mfg (0081) will extend the long stop date of the deal to February 10. (Hong Kong Economic Journal P. 8)

Chu Kong Pipe (1938 HK) shares have been oversubscribed for four times and the company has locked up HK$900 million since its initial public offering. The company will go public next Wednesday. (Sing Tao Finance B2)

Come Sure Group (794 HK) plans to place up to 42 million shares at a price of HK$1.20 each, a 11 per cent discount on the last trading price, to raise as much as HK$49 million. (Sing Tao Finance B2)

CNOOC (883 HK), the mainland’s largest offshore oil and gas producer, expects net production to increase this year to as much as 290 million barrels of oil equivalent, rising by 21 per cent to 28 per cent from last year’s estimation. Capital outlay will amount to US$7.93 billion (HK$61.46 billion), mainly for the intensive exploration. (Sing Tao Finance B2)

KWG Property Holding (1813 HK) said pre-sales last month jumped three-fold from a year earlier to 900 million yuan. (Hong Kong Economic Journal P. 8)

Melco International (200 HK) announced that its associate Melco Crown Entertainment Limited has recorded a net revenue of US$400 million for the fourth quarter of 2009, rocketing 60 per cent from a year ago. (Sing Tao Finance B2)

MCC (1618 HK) announced that it plans to spend US$200 million to buy no more than 5 per cent stake in Resource House, an Australian mining company planning to go public in the Hong Kong bourse. (Sing Tao Finance B2)

Orange Sky Golden Harvest Entertainment (1132 HK) reported that its flagship Shenzhen GH-MIXC broke the PRC record by hitting 11.9 million yuan box office in January. (Hong Kong Economic Times A13)

Shimao Property Holdings (813 HK) announced that Mr. Tang Ping Fai has resigned as a non-executive director due to re-allocation of his job duties while Mr. Liu Sai Fei has been appointed as an executive director with effect from 1 February 2010. (Hong Kong Economic Journal P. 8)

Shimao Property (813 HK) said that its contracted sales in January amounted to 2.6 billion yuan, surging 537 per cent from a year ago. The floor area sold totalled 270,000 square meters, growing 366 per cent compared with the corresponding period last year. (Sing Tao Finance B3)

An explosion at the production workshop of UC Rusal’s (486 HK) facility producing aluminium powders in the Irkutsk region, resulting in a fire covering 700 square meters and killing one man, the company announced through online press release. An investigation commission has been established to investigate the cause of the accident. (Hong Kong Economic Times A13)

Wharf (Holdings) (4 HK) and China Overseas Land (0688) have won a bid of a 1.62 million square foot site in Tianjin for 2.7 billion yuan with an average price per square foot of only 513 yuan. Wharf Group and China Overseas will develop the site on a 50-50 ownership basis. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Feb. 1st, 2010

Bank of China (2388 HK) has set February 6, this Saturday, as recruitment day to employ 150 more front-line sales. (Hong Kong Economic Times A12)

Fast food chain operator Cafe de Coral (341 HK) said that it expects an about 8 per cent same-store sales growth for January and February as Hong Kong and China economies recover. The company may adjust prices to cover an increase in food prices, its chairman said. (Sing Tao Finance B3)

China Merchants Bank (3968 HK), the nation’s fifth-largest lender by market value, won regulatory approval to raise as much as 22 billion yuan in a rights offer. (Hong Kong Economic Journal P. 7)

China Precious Metal Resources (1194 HK) announced that it has entered into a letter of intent with Mojiang County Mining Co., Ltd about the acquisition of the latter. Mojiang County Mining Co., Ltd is a holder of the gold mining licence covering a mining area of 7.2241 square kilometers, and the related gold mining assets, but the latter company has not yet obtained the land use rights for the gold mining area. (Sing Tao Finance B2)

CLP Holdings (2 HK) announced that it has agreed to take over a project company CLP Sichuan (Jiangbian) Power Company Limited for 63.6 million yuan. CLP held 35 per cent stake in the project company before the acquisition. (Sing Tao Finance B3)

Country Garden’s (2007 HK) contracted sales totalled 2.2 billion yuan in January, surging 253 per cent from a prior year with a floor area of 370,000 square meters sold. (Sing Tao Finance B2)

CVM Minerals (705 HK) plans to place 360 million existing shares at a price of HK$0.36, a 16.3 per cent discount on the last trading price, to raise HK$126 million for general working capital. Trading of the company resumes today. (Sing Tao Finance B2)
Embry (1388 HK) expects the net profit for 2009 to increase by more than 50 per cent as compared to that of the previous year. The expected increase is largely attributed to a steady revenue growth, improved gross profit margin and better operating efficiency. (Hong Kong Economic Times A14)

A consortium has allotted HK$1 billion for a bid to buy and build up ailing Fu Ji Catering (1175 HK). Stanley Choi Chiu-fai, an executive director of Simsen International (0993), has joined forces with Cai Dabiao, founder of mainland fast-food chain Real Kungfu, and HyComm Wireless (0499) to buy all of Fu Ji, which is under provisional liquidation. (Hong Kong Economic Journal P. 4)

Guangzhou R&F Properties (2777 HK) said its contracted property sales in January amounted to 2.564 billion yuan, growing 160 per cent year-on-year. The developer has sold 217,500 square meters in January, a 69 per cent increase compared with the corresponding period a year ago. (Sing Tao Finance B2)

Rumour has it that HSBC (5 HK) has been acquiring stake in ICBC (1398), Bank of China (3988) and CCB (0939), HSBC clarified yesterday that it has no plan to acquire any mainland banks at this stage. (Hong Kong Economic Journal P. 6)

Hua Lien International (969 HK) announced that it has signed a MOU with CADFund to form a joint venture for a long term strategic cooperation to develop renewable energy in Africa. Hua Lien will issue new shares and convertible bonds to the latter for 65 per cent shares of the JV. The deal amounts to HK$390 million. (Sing Tao Finance B3)

Lerado Group (1225 HK) has gained approval from regulatory to issue TDR. Timetable of the issuance will be announced later. (Hong Kong Economic Times A14)

Next Media (282 HK) has appointed Mr. Cheung Ka Sing Cassian as the co-chief executive officer. In addition, he has been re-designated from a non-executive director to an executive director of the company. Both appointments were effective from yesterday. (Sing Tao Finance B2)

A shareholder of Wing On Travel (1189 HK) is not satisfied with Wing On Travel’s downgrading assets and refinancing plans and said he would complain to the Securities and Futures Commission. (Sing Tao Finance B3)

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

Hong Kong Stock Market Wrap Jan. 29th, 2010

IPO: Ruinian International, a mainland health-food maker, plans to launch its IPO on the Hong Kong bourse next Monday to raise 1 billion yuan. HSBC Finance is the sponsor of its listing. Rumour has it that Ck Life Sciences Int'l., (Holdings) Inc (0775) is one of its shareholders. The company plans to go public on February 29. (Sing Tao Finance B11)

361 Degrees International Limited’s (1361 HK) subsidiary 361 Investment Company Limited will establish a joint venture company in Jinjiang, Fujian Province with First Union to engage primarily in the production of soles for footwear. (Hong Kong Economic Journal P. 3)

Angang Steel (347 HK) announced that it will establish a wholly-owned subsidiary in Fujian Province for the construction and operation of new steel production facilities. The investment amounts to 3.8 billion yuan. (Hong Kong Economic Times A12)

China Pacific Insurance (2601 HK) projected its profit for last year to increase more than four times to at least 6.7 billion yuan. (Sing Tao Finance B3)

Shenhua Group (1088 HK), China’s biggest coal producer, said it will invest 2.35 billion yuan in joint venture Zhuhai New Century Shipping Co this year. (Hong Kong Economic Journal P. 3)

Hong Long Holdings (1383 HK) says that it has entered into a cooperative framework agreement with the management committee of Shenyang Economic and Technological Development Zone of Liaoning Province in order to further facilitate the expansion of its geographical coverage and replenish its land bank for real estate business. The investment involves 5 billion yuan (Sing Tao Finance B3)

MEC (276 HK) announced that its application of the mining license is progressing and further time is required. Its adviser has advised for an extension and the company accordingly granted such an extension for the transaction. (Hong Kong Economic Journal P. 3)

Ping An Insurance (2318 HK) expects its profit for last year to surge more than 15 times to 10.6 billion yuan, compared with a profit of 662 million yuan in 2008.
(Sing Tao Finance B3)
China Everbright International (257 HK) has signed a framework agreement with Huaining County to develop PV station with a total capacity of 20MWp. The company will invest 500 million yuan in this project. (Hong Kong Economic Times A12)

China Railway Group (390 HK) said it has granted approval to issue corporate bonds in the mainland. The company will issue 1 billion yuan worth of 5-year bonds and 5 billion yuan worth of 10-year corporate bonds. (Sing Tao Finance B11)

Comtec Solar Systems Group (712 HK) plans to produce solar battery through acquisition or set up its own firms in order to expand downstream businesses, its chairman John Zhang said. The company initially plans to set up several 30 MW production lines of solar battery for testing purpose. (Sing Tao Finance B11)

Get Nice Holdings (64 HK), which holds 50 per cent stake in Grand Waldo Casino in Macau, says its renovation will be finished soon. The renovation amounted to HK$40 million. The company expects operation cost to be reduced by 30 per cent to 40 per cent upon the renovation. (Hong Kong Economic Journal P9)

Sales of New World Development’s (17 HK) new residential project Belcher’s Hill in Sai Wan started last weekend. The average price is around HK$10,000 per square foot and 120 units have been sold with. (Hong Kong Economic Journal P9)

Poly Development Holdings (1141 HK) announced that it has acquired Beijing Yu Sheng Tang Holdings Limited for 10 million yuan. (Hong Kong Economic Times A12)

Sino Dragon New Energy (395 HK) plans to acquire a new energy project in Jiangsu for 120 million yuan to 150 million yuan, chairman Yang Xinmin said. He adds that if the acquisition is realized, it will be the main sources of income to the company, expecting to return to the black in 2010. (Sing Tao Finance B11)

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