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
