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
