China Coal Energy Company (1898 HK) recorded raw coal production volume of 51.96 million tons in the first 5 months this year, up 32 per cent year on year. Coal sales volume was 49.56 million tons, up 53 per cent year on year. (Hong Kong Economic Journal P12)
ENTERS WORLD'S TOP 20 DAIRY RANKING Rabobank of the Netherlands yesterday announced Top 20 Global Dairy Companies 2009. China Mengniu Dairy (2319 HK), with annual turnover of US$3.77 billion, ranked the 16th. (Hong Kong Economic Times A10)
China South City (1668 HK) expects to have a substantial growth in net profit for the year ended 31 March 2010, as the sales of property increases. (SingTao Daily B4)
Coslight Technology International (1043 HK) denies that it will produce battery electric vehicles within 2 years, saying that the date of production has not been decided although it having the relevant licenses and know-how to do so. (Hong Kong Economic Times A10)
Easyknit International Holdings (1218 HK) President and CEO Kwong Jimmy Cheung Tim was arrested by the Commercial Crime Bureau on 15 June and has been released on bail of HK$20,000. The company said the Bureau took away books and records belonging to Planetic International Ltd from its premises on the same day. (Hong Kong Economic Times A10)
TO INVEST IN 2 US SOLAR PHOTOVOLTAIC PROJECTS GCL-Poly Energy (3800 HK) will invest in two American solar photovoltaic projects through its wholly owned subsidiary GCL Solar. The investment amounts are $50 million and $5 million respectively. (SingTao Daily B4)
Grand T G Gold (8299 HK) recorded a full year loss narrowed to 36.53 million, down 60 per cent over the same period last year, with basic loss 0.8 HK cents per share. No final dividend was declared. (SingTao Daily B4)
L'Occitane (973 HK) International one of the joint sponsors of its listing CLSA sets rating for the company at “outperform”, with target price at 20. CLSA expects CAGR of its net profit to reach 26 per cent in the next 3 years. (Hong Kong Economic Times A10)
A 50% indirectly owned subsidiary of Phoenix Satellite Television (2008 HK) has signed main contractor agreements for the development and construction of the Land and Phoenix International Media Centre, for a total budget of 850 million yuan inclusive of the land price. (SingTao Daily B4)
Real Gold (246 HK) is planning to acquire the remaining 2.86 per cent of the equity interest in its indirect wholly owned subsidiary Fubon Industrial, at the amount of 194 million yuan satisfied in cash. (SingTao Daily B4)
UBS increased holding of shares in Sino-Ocean Land Holdings (3377 HK) by over 3.34 million shares at an average price of 5.78 each for almost 19.33 million on 11 June, taking its shareholding in the company from 4.94 percent to 5 percent, according to HKEx data. (Hong Kong Economic Journal P13)
TURNS LOSS INTO GAIN Sparkle Roll (970 HK) posted a net profit for the year ended 31 March 2010, recording 113 million of profit attributable to shareholders, with basic earnings 5.2 HK cents per share. A dividend of 0.3 HK cents per share was recommended. (SingTao Daily B4)
Tencent (700 HK) share price has faced pressure recently, even its then sponsor Goldman Sachs said that Tencent growth rate will slow, lowering its target price to HK$152 from HK$180 and setting the rating at “neutual”. Tencent went down nearly 2 per cent to close at HK$125, dropping for third straight day. (SingTao Daily B2)
The holding company of United Company Rusal (486 HK), En+ Group has invested in Hong Kong Mercantile Exchange by 10 per cent stake. En+ is the fourth consortium investing in HK Mercantile following Industrial and Commercial Bank of China (Asia), Cosco Group and Indian Reliance Money. (SingTao Daily B4)
Water Oasis Group (1161 HK) reported net profit of HK$24.2 million for the six months ended 31 March 2010, down 44 per cent year on year. Earnings per share were 3.3 HK cents. Interim dividend of 3 HK cents per share was declared.
(Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
