Thursday, March 18, 2010

Hong Kong Stock Market Wrap Mar. 17th, 2010

IPO: Mainland firm Goldwind plans to list on the Hong Kong bourse in June to raise US$1.5 billion (HK$11.7 billion). (Hong Kong Economic Journal P. 6)

(0688) CHINA OVERSEAS LAND & INVESTMENT LTD TO ESTABLISH INVESTMENT FUND The builder is planning to establish an investment fund, aiming to looking for development opportunities in mainland property market. The size of the fund ranges from 2.5 billion to 5 billion dollars (HK$ 19.5 billion to HK$39 billion). (Sing Tao Daily, B3)

The construction contractor (3311 HK) reported a profit of 6.31 billion for the year 2009, up 25.2 per cent compared with a year before. Earnings per share were 22.65 HK cents. A final dividend of 3.5 cents was declared. (Sing Tao Daily B3)

Larry Rong, the former chairman lost 8 billion in downsizing its share of Citic Pacific Ltd (267 HK) from 9.45 per cent to 8.27 per cent. (Sing Tao Daily B1)

HSBC (5 HK) may participate in the auction for a US$3.9 billion stake in Korea Exchange Bank, South Korea's sixth-largest lender. (Hong Kong Economic Times A13)

Kerry Properties (683 HK) has reported a 44 per cent leap in net profit to HK$4.39 billion, due to a significant fair value gain on investment properties. But underlying profit for last year fell 3.7 per cent to HK$2.15 billion. (Hong Kong Economic Times A13)

Mainland sportswear firm Li Ning (2331 HK) says net profit for last year surged 31 per cent from 2008 to 945 million yuan.

Man Wah (1999 HK) is offering 289 million shares to the market with a price ranging from HK$8,5 to HK$11.8 each. Entry is HK$4646, with 400 shares per broad lot. (Hong Kong Economic Journal P. 6)

Midland IC&I (459 HK) said profit amounted to HK$77million for 2009, compared with a loss of HK$607,000 over the previous year. Earnings per share were 0.568 HK cent. No final dividend was declared.

Miramar Hotel (71 HK) said it has recorded a profit of HK$240 million for the year 2009, compared with HK$164 million a year ago. The board proposed a dividend of 10 HK cents per share. (Hong Kong Economic Times A14)

(0017) NEW WORLD DEVELOPMENT COMPANY LIMITED PROFIT UP 83% The Hong Kong builder reported a profit of 18.62 billion, surging 83 per cent. A final dividend of 10 cents was declared. (Sing Tao Daily, B3)

Shangri-La Asia Limited (69 HK) said profit amounted to US$266 million (HK$2 billion) for 2009, an increase of 54 per cent over the previous year. Earnings per share were US$0.0889. A final dividend of HK$0.06 per share was declared. (Hong Kong Economic Times A13)

Towngas China (1083 HK) will buy piped-gas projects in the mainland from parent Hong Kong & China Gas (0003) for HK$1.72 billion by issuing new shares at HK$3.55 each. (Hong Kong Economic Times A14)

Tencent (700 HK) profit jumped 85 per cent to 51.55 billion yuan, mainly due to the constant profit growth from the online game industry. Earnings per share were 2.86 yuan. A final dividend of 40 cents was declared. (Sing Tao Daily B1)

(3322) WIN HANVERKY HOLDINGS LTD PROFIT UP 2.65% The Hong Kong clothes retailer reported a net profit of 22 billion, up 2.65 per cent. The sales declined 1.7 per cent due to lower demand resulting from the financial crisis. The company offsets the decrease by cost saving. (Sing Tao Daily, B3)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard