Bank of China’s (3988 HK) chairman Xiao Gang said the lender has no plan of fundraising in the A-share market in these two years after the completion of issuing convertible bonds for 40 billion yuan. (Sing Tao Finance B2)
BBMG (2009 HK) said it will form two JV with two mainland cement companies. BBMG will hold 80 per cent stake each in the new companies. (Sing Tao Finance B2)
China Life Insurance (2628 HK) announced that its net profit for 2009 may increase by over 200 per cent year-on-year, according to the China accounting standards for business enterprises. (Sing Tao Finance B2)
CHINA SOUTHERN AIRLINES (1055 HK) COMPANY LIMITED TO RAISE 10B YUAN China Southern Airlines plans to raise up to 10.75 billion yuan through private placement to repay bank loans and replenish working capital. (Hong Kong Economic Times A15)
Rumor has it that Citic Pacific (267 HK) is forced to sell Shijiazhuang Iron & Steel Co to Hebei Iron & Steel Group for 1.9 billion yuan. The company said it is in talks with the latter, but no agreement has been reached at this stage. (Sing Tao Finance B2)
Co-Prosperity (707 HK) announced for a top-up placement of 110 million shares at HK$0.41 apiece to raise HK$44 million. (Sing Tao Finance B2)
Flyke (1998 HK) plans to offer 200 million new shares at between HK$1.81 and HK$2.49 apiece. Entry fee is HK$2515 with 1000 shares per broad lot. (Sing Tao Finance B2)
Fubon Bank (Hong Kong) (636 HK) said profit amounted to HK$23 million for 2009, down 77.2 per cent over the previous year. A final dividend of HK$0.015 per share was declared. (Hong Kong Economic Journal P. 8)
Geely Automobile (175 HK) said its automobile sales amounted to 28,700 units for February, surging 54 per cent year-on-year. The automobile sales for the first two months totaled 72,600 units. (Sing Tao Finance B2)
HAECO (44 HK) posted a profit of HK$688 million, a decrease of 40 per cent from the 2008 profit of HK$1138 million. (Hong Kong Economic Journal P. 8)
Life style International (1212 HK) said profit amounted to HK$1.14 billion for 2009, up 23.2 per cent over the previous year. Earnings per share were 68.49 HK cents. A final dividend of HK$0.17 per share was declared. (Hong Kong Economic Times A15)
Pacific Century Premium Developments (432 HK) said profit was HK$594 million for 2009, up 15.79 per cent over the previous year. Earnings per share were HK$0.25. No final dividend was declared. However, the company proposed special dividend of HK$1.32 per share. (Sing Tao Finance B1)
The city’s biggest telecommunications operator posted a net profit of HK$1.61 billion for 2009, up 18 per cent from HK$1.27 billion in the previous year. It said it has no intention to table a new privatization offer as it reported substantial growth in its net profit for 2009. (Sing Tao Finance B1)
Sichuan Expressway (107 HK) said profit amounted to HK$827 million for 2009, rising 40 per cent over the previous year. A final dividend of 6.4 HK cents per share was declared. (Sing Tao Finance B2)
UC Rusal’s (486 HK) subsidiary RTI has reached a full and final settlement with Norden that the company will pay the latter US$23 million (HK$179 million). In addition, the company will enter into a new contract of affreightment for 2 million tones of bauxite with the latter. (Sing Tao Finance B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
