Air China (753 HK) aims to purchase 20 Boeing 737-800 aircraft from Boeing Company for a consideration of $1.398 million that will be payable by cash in instalments. The company expects the Boeing aircrafts to be delivered in stages from 2013 to 2015. The transaction will strengthen the fleet capacity of Air China with an increase of around 5% based on available tonne kilometres of the company as at 31 December 2009. (Hong Kong Economic Times A12)
Alibaba (1688 HK) plans to buy Vendio, a US business sales software company, for expanding its buyer foundation in the United States and increasing the website usage. Terms of the deal, announced Thursday, were not disclosed, but it is expected to close in July. (Hong Kong Economic Times A10)
China Railsmedia (745 HK) announced that it is expected to record a significant loss for the year ended 31 March 2010. The loss is mainly due to the impairment loss of accounts receivable in relation to an arbitration award and the keen competition in the building construction industry together with the rising material costs. (SingTao Daily B3)
Cosway (288 HK) announces that based on the preliminary review on its management accounts
and its subsidiaries, the company is expected to record a profit before tax as much as HK$283 million for the financial year ended 30 April 2010, representing over 58 per cent growth.
(SingTao Daily B3)
Dongfeng Motor (489 HK) aims to buy land and properties from its parent, Dongfeng Motor Corporation, for a consideration of around 575 million yuan. The land and Properties are located in Wuhan Economic & Technological Development Zone, which covers an area of around 752,300 square meters. (SingTao Daily B3)
Skyworth (751 HK) recorded a 14 per cent year-on-year growth for its total TV sales volume in May. It added that that the labour costs represented only 1.8 per cent of the cost of sales. The company expects that the possible increase of labour costs in the year ending 31 March 2011 would increase by less than 0.3 percentage points. (SingTao Daily B3)
Winsor (1036 HK) plans to sell Lucky Industrial Building, located at Kwai Chung, to Mansion Industries Limited for a consideration of HK$348 million. The company will reap HK$95 million from the deal, which will be booked as an income in this financial year. In addition, it will generate net cash proceeds of HK$344 million to be used for future operating capital. (Hong Kong Economic Journal P8)
China Aoyuan Property Group Limited (3883 HK) has secured a secured and a fixed interest rate term loan facility of HK$500 million in total from Nanyang Commercial Bank and Bank of China (3988) respectively. The company has agreed not declare or pay any dividends in excess of 60 per cent of net profit after tax. (SingTao Daily B15)
L’Occitane (973 HK) controlling shareholder L’Occitane Groupe S.A.(LOG) signed a transfer agreement with Clarins on 25 June. Clarins transferred its 10.06 per cent shareholding in LOG to LOG on that day. (Hong Kong Economic Times A12)
Ming Hing (402 HK) Waterworks executive director Ho Hin Hung Henry says a coal mine in Mongolia has already started preliminary study and expects it to generate income immediately when the mining starts in Q4. He intends to sell coals to the mainland next year. (SingTao Daily B15)
Natural Dairy (NZ) (462 HK) has got back control of and access to mines owned by Chengde Sanjin and Shenlong Mining. It will send a team of no less than 20 staff there by the end of July this year for production planning and mining. (Hong Kong Economic Journal P8)
A media report wrote that Prudential (2378 HK) plans a reconstitution of the board and chairman Mcgrath Harvey Andrew will step down to be responsible to the failure in acquiring AIA. It is said that 2 non-executive directors will be added. (SingTao Daily B15)
Shanghai Zendai Property (755 HK) has signed a letter of intent with Renown Capital to jointly establish a fund management firm. The former and the latter will hold 60 per cent and 40 per cent interest in the firm respectively. (SingTao Daily B15)
Siberian Mining (1142 HK) lost HK$1.6 billion for the year ended 31 march 2010, primarily due to the impacts of non-cash fair value adjustments, amortization and impairment loss of different balance sheet items. (Hong Kong Economic Times A12)
United Pacific (176 HK) Industries lost HK$4.5 million for the six months ended 31 March 2010, as compared to the loss of HK$19.94 million in 2009. Turnover rose 21 per cent to HK$596 million. No dividend was declared. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
