Friday, February 5, 2010

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 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