Thursday, February 4, 2010

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) 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