Cathay Pacific Airways (293 HK) said it is discussing with potential buyers to sell its stake in Hong Kong cargo terminal operator Hactl, according to the CEO. He didn’t disclose more detail. The company plans to set up a wholly owned new cargo terminal operator. The building plan was restarted recently and may be completed in 2013, the newspaper said, citing unnamed sources. (Hong Kong Economic Times A12)
China Dongxiang (3818 HK) said overall same-store sales in the first quarter grew 4 per cent year-on-year, expecting this year to keep this level of growth. It also planned to increase the number of stores. It expected CAGR of revenue to keep at 15 to 20 per cent for the next few years. (Sing Tao Daily B5)
China Southern Airlines (1055 HK) is now Asia's largest carrier by passenger numbers after overtaking troubled Japan Airlines, according to Japanese media Nikkei. The airline said the volume rose 13.8 per cent to 66.28 million passengers, according to its annual result. The board expected the volume to grow another 13 per cent to 75 million. (Hong Kong Economic Journal P10)
Dongfeng Motor (489 HK) plans to team up with its partner French car maker Peugeot to set up a plant in China by the end of this year, foreign media reported, citing unnamed sources. The production capability will ranges from 150,000 to 200,000 units. The company didn’t respond to the news. (Hong Kong Economic Times A13)
Dah Chong Hong (1828 HK) said car business in Hong Kong for the first four months this year rose 10 per cent year on year. In addition, CEO said year-on-year growth of mainland car business will bring “surprise”. (Hong Kong Economic Journal P6)
Great Eagle Holdings (41 HK) said whole investment in the Dalian land project it bought last year is around 4 billion yuan and will be launched in one and a half year at soonest. In addition, CEO said it is looking for investment opportunities in middle cities in PRC. (Hong Kong Economic Journal P11)
Hong Kong Energy (Holdings) Limited (987HK) acquired sale shares in all the wind farms and waste-to-energy plant business from HKC Group (0190), which will make Hong Kong Energy the flagship of alternative energy business in PRC. Hong Kong Energy will issue convertible preferred shares for HK$1,018.1 million at a price of HK$0.735 per share. After the deal, HKC will hold 81.42 per cent stake in Hong Kong Energy. (Hong Kong Economic Journal P10)
HKEx (388 HK) posted earnings of HK$1.127 billion in the first quarter, up 35 per cent year-on-year. Average daily turnover on the Stock Exchange was HK$64.8 billion, up 45 per cent year-on-year. Earnings per share were HK$1.05, up 35 per cent year-on-year. (Sing Tao Daily B3)
After Francis Leung and Mico Chung have bought shares in Imagi International (585 HK), Imagi International placed over 2.86 billion shares in Idea Talent a company Leung and Chung jointly held last Tuesday. A day after becoming major shareholders, they immediately decreased holdings in the shares sharply by over 980 million shares at a price of HK$0.4 per share for HK$395 million. As they have bought shares in Imagi International at a price of 7 HK cents per share, they have earned over HK$326 million in one day. (Sing Tao Daily B2)
Mei Ah Entertainment (391 HK) has launched Red Channel jointly cooperated with HBO in Indonesia. It expected its channel business to develop to Malaysia, Korea, Philippines and Vietnam within this year. The company hopes that Red Channel can enter into 23 Asian countries or regions in 3 years time. (Sing Tao Daily B4)
PetroChina (857 HK) has announced to issue second and third tranches medium-term notes of 20 billion yuan on the inter-bank debt market pursuant to the authority granted at 2008 annual general meeting. (Sing Tao Daily B4)
Peak Sport Products Co. (1968 HK) said the company may raise selling price by 10 per cent in the winter & next spring order-placing meeting, according to the CEO. The growth of order amount will be similar to that of last three quarters, she said. The company recorded 30 per cent, 35 per cent and 34 per cent growth in order sum during last three quarters respectively. (Hong Kong Economic Times A13)
Tencent (700 HK) posted net profit of 1.783 billion yuan in the first quarter, up 72.2 per cent year-on-year, better than expectations. Earnings per share were 0.984 yuan. Revenue climbed 68.7 per cent to 4.226 billion yuan. No dividend was declared. (Sing Tao Daily B3)
The Hongkong and Shanghai Hotels (45 HK), Limited Chairman Michael Kadoorie has increased holding of shares in the company earlier to show his confidence in company’s management despite the challenges faced. Average room income of its Peninsula Hotels in HK, Asia and the US in the first quarter was better than last year. (Sing Tao Daily B4)
Zhaojin Mining (1818 HK) has entered into a framework agreement on integration of gold resources with Aletai Municipal Government of Aletai region, Xinjiang province. It expects to invest 1 billion yuan in the next five years to fully integrate and explore gold resources in the region so that mining and ore processing scale will reach 2,000 tonnes a day. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
