IPO: Far East Global Group, a building facade solutions provider, has gained listing approval from the Hong Kong stock exchange to list and will kick off its US$100 million (HK$780 million) initial public offering on March 17. (Hong Kong Economic Jounral P.9) Fook Woo Group plans to list on the Hong Kong bourse to raise US$150 million in early April. (Sing Tao Finance B16)
Development of Taobao under Alibaba (1688 HK) surges rapidly, rumour has it that Alibaba will spin off the unit for listing. Alibaba said it has no plan to list the online retail platform at this stage. (Sing Tao Finance B4)
Jiangxi Copper (358 HK) said it targets to produce 0.9 million tones of copper this year and expects sales to grow. (Hong Kong Economic Journal P. 6)
KWG Property (1813 HK) said it expects profit for the year to December to rise significantly compared with a year earlier. (Hong Kong Economic Times A10)
Maoye International Holdings (848 HK) Limited has posted a net profit of 470 million yuan for 2009, down 9.76 per cent from a year ago. Earnings per share were 0.091 yuan. A final dividend of 1.5 HK cents per share was declared. (Sing Tao Finance B4)
Shui On Land (272 HK) subsidiary Top Victory, together with SYKIZ, have made a successful bid for the land located in Yangpu District in Shanghai at a price of 1.26 billion yuan while Top Victory holds 99 per cent stake in the project. (Sing Tao Finance B4)
Shanghai-based developer SPG Land (Holdings) (337 HK), a high-end builder, said profit for the year to December rose 348 per cent to 678.52 million yuan from 151 million yuan a year earlier. (Hong Kong Economic Journal P. 6)
Standard Chartered (2888 HK) said it plans to list on the mainland, but the plan will be carried out probably in 2011. The lender currently holds 19.9 per cent stake in China Bohai Bank, it said it has no plan to buy other banks so far. (Hong Kong Economic Times A10)
China Aoyuan Property Group (3883 HK) expects its estimated unaudited consolidated net profit for the year ended December 31 in 2009 to record a substantial growth over and above that for the same period in 2008 on an increase in total sales of projects. (Hong Kong Economic Times A14)
Greentown China (3900 HK) has recorded contracted sales of 2 billion yuan for January and February, surging 264 per cent year-on-year. (Hong Kong Economic Times A14)
Huiyin Household Appliance (1280 HK) will kick off its initial public offering this Friday to raise up to HK$620 million with a price ranging between HK$1.29 and HK$1.69 apiece. (Sing Tao Finance B16)
Poly (Hong Kong) Investments (119 HK) said its contracted sales for January and February amounted to HK$2.1 billion with a floor area of 280,000 square meters. (Hong Kong Economic Times A14)
A bankruptcy petition was presented to the High Court by a creditor against Mr Yang, chairman and executive director of Proview International (334 HK), for an alleged debt in the sum of US$500 million. Yang intends to negotiate with the creditor for settlement. (Hong Kong Economic Jounral P.9)
Real Gold Mining (246 HK) has posted a net profit of 526 million yuan for 2009, surging 406 per cent year-on-year. Earnings per share were 0.7859 yuan. The company proposes no final dividend. (Hong Kong Economic Times A14)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
