Friday, June 18, 2010

Hong Kong Stock Market Wrap June 14th, 2010

On 10 June 2010, Chigo Holdings (449 HK) transferred about 46.4 million shares of the company by way of gifts to certain directors of the company, current and former employees, and customers of the Group. The beneficial shareholding of Li Hing Ho in the issued share capital of the company decreased to 57.94 per cent from from 67.02 per cent after the transfer of the relevant shares. Mr. Li remains the controlling shareholder of the Company. (Hong Kong Economic Times A12)

Henderson Land (12 HK) chairman Lee Shau Kee increased 190,000 shares of its stake in the company, at average 44.842 HK cents per share for a consideration of HK$8.52 million, hiking its stake in the company to 65.34 per cent from 65.33 per cent on Monday, according to HKEx news. (Hong Kong Economic Journal P6)

Netdragon Websoft (777 HK) announced that its net profit for the first quarter decreased around 56 per cen to 21.21 million yuan, basic and diluted earnings per share are RMB 4.03 cents. No dividend was declared. (SingTao Daily B3)

New World China Land (917 HK) redeemed 22,188 units of retail convertible bonds due in 2010 at a redemption price at $14,977.6 per unit for a consideration of over $332 million, involving over 2.2188 billion yuan of face value of bonds. (Hong Kong Economic Journal P6)

Playmates Toys (869 HK) plans to raise HK$104.3 million of rights shares at the subscription price of HK$0.30 per rights share on the basis of one rights share for every two existing shares, substantially discounted 38 per cent compared to HK$0.485 closed on Friday. (SingTao Daily B3)

The accumulated written premiums of Ping An Insurance (Group) (2318 HK) subsidiaries, namely Ping An Life Insurance Company of China, Ltd., Ping An Property & Casualty Insurance Company of China, Ltd., Ping An Health Insurance Company of China, Ltd. and Ping An Annuity Insurance Company of China, Ltd., for the first five months this year were 77.72 billion yuan, 24.74 billion yuan, 64.38 million yuan and 1.99 billion yuan respectively. (Hong Kong Economic Times A12)

Yuexiu Property’s (123 HK) contracted sales in May amounted to 529 million yuan, rising 1.71 times year-on-year. Its contracted sales in the first five months amounted to about 4.6 billion yuan, up 2.75 times year-on-year, equal to 58 per cent of its full-year target. (SingTao Daily B3)

Asia Cement (China) (743 HK) CEO Chang Tsai Hsiung said the company plans to acquire coal mines to increase gross profit margin and is seeking a project in Qinghai and Shangxi. The company expects capacity to go up 30 per cent this year to 17.04 million tonnes. (Hong Kong Economic Journal P4)

China Sci-Tech Holdings (985 HK) announced the completion of acquisition of the entire equity interest of a listed copper mining company in Canada Chariot for a consideration of around 1.8 billion on 11 June. The latter is a wholly owned subsidiary of the company now. (SingTao Daily B12)

E. Bon Holdings (599 HK) reported net profit of around HK$41 million for the year ended 31 March 2010, up 64 per cent. A final dividend of 3 HK cents per share and a bonus share issued on the basis of 3 bonus shares at par for every 10 shares were recommended. The company currently is the exclusive agent of famous brands B&B Italia and Poltrona Frau. It plans to open specialty showrooms for them in 2H.
(SingTao Daily B12)

Fosun International (656 HK) acquires from independent third parties 628,300 shares and 1.6166 million ORANE mandatorily convertible bonds of Club Med listed in Paris on 11 June, around 7.1 per cent of the share capital of the latter on a fully diluted basis. The latter develops and manages hotels, holiday centers and leisure and entertainment facilities. (Hong Kong Economic Times A10)

Maoye International Holdings (848 HK) granted share options to 411 individuals last Friday, including directors, management and employees and consultants with special contributions. They can subscribe for up to 126.30 million shares in total at a price of HK$2.81 per share. (SingTao Daily B12)

PICC Property and Casualty (2328 HK) recorded premiums income of 66.435 billion yuan for the first 5-month this year, up 24 per cent over the 53.572 billion yuan for the same period last year. (SingTao Daily B12)

Shanghai Industrial Holdings (363 HK) has basically finished selling its non-core businesses. The company now focuses on real estate, infrastructure and consumption businesses. It said capital spending on real estate business this year is around 5-7 billion, including at least 2.7 billion for acquiring Neo-China Land Group (0563). (Hong Kong Economic Journal P6)

Wang Sing International (2389 HK) announced a rights issue on the basis of 3 rights shares for every 2 shares at a price of HK$0.15 per rights share to raise up to HK$180 million for repaying shareholders’ loans and investing in a real estate project in Jiangsu. (SingTao Daily B12)

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