Air China Limited (753 HK) is going to raise its airfare with the first class fare being equivalent to double of economy class fare and the business class fare being equivalent to 1.5 times of economy class fare. (Sing Tao Daily B2)
Asia Coal Limited (835 HK) announced that the net loss of the Group for its financial year ended 31 March 2010 is expected to increase significantly as compared with that in the financial year ended 31 March 2009. The loss is due to factors including increasing administrative expenses and interest expenses. (Sing Tao Daily B3)
BaWang International (1338 HK) said the company would put its focus on Southern China market first and then the next would be on Eastern and Northern China as herbal tea sales in Southern China accounted for around 40-50 per cent of the total in the mainland, among which Guandong accounted for 20 per cent. (Hong Kong Economic Times A10)
President of China Telecom (728 HK) said at the Board that the adjustment of 3G price in the industry is expected. He will not follow the suit as it has no significant impact on the company. There were 500,000 new 3G customers in average each month in the first quarter. (Sing Tao Daily B1)
City Telecom (H.K.) (1137 HK) announced interim results for the six months ended 28 february 2010. Net profit was HK$116 million, up 54 per cent year-on-year. Interim dividend of HK6.5 cents per share was declared.
(Hong Kong Economic Times A10)
CMMB Vision (471 HK), previously named Global Flex Holdings, places 184.4 million new shares at a price of HK$0.111 per share to raise HK$20.468 million. The proceeds will be used as general working capital. (Hong Kong Economic Times A10)
Datang International Power Generation Co., Ltd. (991 HK) announced that it will issue up to a maximum of 1 billion A shares to not more than 10 qualified investors at the issue price of not less than 6.81 yuan per A shares.
(Sing Tao Daily B1)
Giordano International (709 HK) has accelerated its speed of opening new stores in the mainland. The company said it opened 58 new stores in the mainland in the first 4-month this year and its target was to open 150 new stores during 2010 so that the total stores in the mainland would reach the figure 1,200. (Hong Kong Economic Times A10)
International Elite Ltd. (1328 HK) announced that the company plans to acquire the Sunward Group at a price of HK$2 billion, which is equivalent to around 20 times of its P/E ratio. (Sing Tao Daily B3)
Managing Director of Industrial and Commercial Bank of China (349 HK) said during the annual board meeting that as of end of last year the bank has held HK$28 billion of bond investment portfolios but not disclosing whether European sovereign debt is included. (Sing Tao Daily B1)
Jia Sheng Holdings (729 HK) shareholders placed shares yesterday. Existing shareholders have placed a total of 230 million existing shares at a price of HK$1.38 per share. (Hong Kong Economic Times A10)
Kingsoft Corporation (3888 HK) saw unaudited net profit drop 11 per cent to 89.74 million yuan in the first quarter. Revenue and gross profit went up 4 per cent year-on-year to 245.7 million yuan and 214.9 million yuan respectively. (Hong Kong Economic Journal P9)
Morning Star (542 HK) was benefited from the news that placing agents are willing to sell shares at high price for the major company directors. The move made the share price up over 12 percent, close at HK$0.146. Controlling shareholders are willing to sell all their shares at the target price of no less than HK$0.2. (Sing Tao Daily B3)
PetroChina Company Limited (857 HK) issued the second tranche of medium-term notes in 2010 and the third tranche of medium-term notes in 2010 respectively on 19 May 2010, and the full amount of the proceeds were received on 20 May 2010. (Sing Tao Daily B3)
The Grande Holdings (186 HK) chairman Ho Wing On Christopher was sued by Lo Yuk Yee of Maxx Capital Finance involving HK$30 million arrears. Lo was former chairman of Maxx Bioscience Holdings (0512; now named China Grand Pharmaceutical and Healthcare). (Hong Kong Economic Journal P9)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
