BEA (0023) has granted a 2-yr term loan facility of HK$800 million to Agile Property (3383 HK). The company will be an event of default if controlling shareholders cease to be interested in 50% of the equity interest at least or cease to be entitled to exercise management control. (Hong Kong Economic Journal P13)
AgBank (1288 HK) vice chairman Zhang Yun expects cost to income ratio to drop 5-8 percentage points to 35-38 per cent after the listing. Underwriters will receive 1.96 per cent of the offer price payable for the HK offer shares initially offered as gross underwriting commission. (Hong Kong Economic Journal P4)
Café de Coral (341 HK) announced its result for the year ended 31 March yesterday. Its full-year turnover reached historical high at around HK$4.88 billion, up 4.5 per cent, while the net profit increased by 16 per cent to around HK$513 million year-on-year. A final dividend of 45 HK cents was paid. (SingTao Daily B4)
Cheung Kong (Holdings) (1 HK) chairman Li Ka Shing increased shareholdings of the company and Hutchison Whampoa (0013) by 349,000 shares in total for over HK$26 million on 24 June and 25 June, taking its shareholdings in the two companies to 42.09 per cent and 51.92 per cent respectively. (Hong Kong Economic Journal P12)
China Gas (384 HK) may record a significant increase in net profit for the year ended 31 March 2010, which is mainly due to the positive fair value adjustments of the outstanding interest rate swap contracts. (SingTao Daily B4)
China Haidian (256 HK) plans to sell 30 per cent equity interest of its commercial and residential site in Shenzhen for a consideration of 426 million yuan. It reaped HK$156.25 million for general operating capital and expansion of its watch business. (SingTao Daily B4)
China Resources (291 HK) bought an 80 per cent equity interest in Pacific Coffee from Chevalier Pacific Holdings Limited for a consideration of HK$326.6 million. It aims to enter the coffee market in the mainland and strengthen its retail business development. (SingTao Daily B5)
Foxconn International (2038 HK) expects interim results ending end of June to record increase in loss mainly due to lower products pricing, changes in product mix as well as higher depreciation expenses. It does not mention the impact of salary cost. (Hong Kong Economic Times A10)
Chow Tai Fook controlled by New World Development (17 HK) chairman Cheng Yu Tung acquired on 23 June 1.95 billion shares in China Sci-Tech Holdings for HK$390 million at HK$0.2 each. The figures are lower than those China Sci-Tech Holdings previously announced. China Sci-Tech Holdings announced in mid-June Cheng will acquire 7.8 billion shares for 200 million dollar. (Hong Kong Economic Journal P4)
North Mining (433 HK) aims to acquire 70 per cent of equity interests in Yi Tong that holds a mine exploitation permit of Dong Feng Lin Gold Iron Mine located in Heilongjiang Province for a consideration of HK$414 million. The consideration will be satisfied in cash and the issue of new shares at HK$0.28 each. (SingTao Daily B4)
Broadcasting Authority has received application from ATV regarding a change in shareholding. Prosperity International (803 HK) chairman Wong Ben Koon together with mainland trader Wang Zheng are to acquire a total of 41.66 per cent equity stake in ATV from CITIC Group, Phoenix Television (2008) chairman Liu Changle, and Chan Wing-kee. (Hong Kong Economic Times A12)
Shui On Land (272 HK) plans to launch several home sale programs in the second half. Its sales centre for high-end residential projects in Foshan started operation yesterday. It is estimated that the company will launch a presale for its high-rise flats and villas in the next one to two months. (SingTao Daily B4)
UK hedge fund TCI decreased holding of The Link Real Estate (823 HK) by over 1.266 million fund units at an average price of HK$19.55 per share last Thursday. TCI Fund Management also reports a decrease in holding of the latter by 2 million units as well last Friday at an average price of HK$19.76. (Hong Kong Economic Journal P12)
FIRST DAY ENDED HK$3.83; UP 8.81% Trauson Holdings’ (325 HK) first day ended HK$3.83, up 8.81 per cent from its offer price of HK$3.52. Investors posted a paper gain of HK$310 (excluding handling charges) per board lot. (SingTao Daily B4)
Yip’s Chemical (408 HK) said its net profit amounted to HK$378 million for the year ended 31 March 2010, rising 70 per cent year-on-year. Basic earnings per share were 70 HK cents. A final dividend of 20 HK cents was declared. (SingTao Daily B6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
