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
