IPO: AgBank will attend its H-share IPO hearing next Thursday (June 10), a source said. If everything is going well, it may launch it’s A-share IPO on July 15 and to list in Hong Kong on July 16. (SingTao Daily B1)
Aeon Stores (Hong Kong) (984 HK) Managing Director Lam Man Tin Soul said April retail sales in HK grew substantially driven by rising number of mainland tourist but expected the growth in 2H to be slightly slower than that in 1H. Capital spending amounted to around HK$100 million this year. (Hong Kong Economic Journal P10)
ANTA Sports Products (2020 HK) announced its results in 2010 winter order fair. Order amount went up over 25 per cent over the same period last year. JP Morgan said order amount for the full-year of 2010 went up 22 per cent yoy, 3 percentage points higher than its forecast. (Hong Kong Economic Times A8)
Directel Holdings listed (8337 HK) on GEM yesterday, closing at HK$0.38, up 27 per cent. Transaction volume for the whole day reached HK$35.4 million. (Hong Kong Economic Journal P4)
Foxconn International (2038 HK) will increase salaries and wages to workers, supervisors and leaders engaged on production lines in the mainland by 30 per cent. The company said this was expected to help staff retention and recruitment but would increase operating costs. (Hong Kong Economic Journal P1)
Galaxy Entertainment (27 HK) saw EBITDA increase 79 per cent over quarter one 2009 to HK$417 million in the first quarter this year. Revenues rose 51 per cent over quarter one last year to HK$3.95 billion. Galaxy Macau™ will be opened in early 2011. (Hong Kong Economic Times A8)
Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of shares in the company by 1.1086 million shares, 851,000 shares and 1.0007 million shares on 27 May, 28 May and 31 May respectively. (Hong Kong Economic Journal P12)
I.T. (999 HK) saw profit climb 5.17 times to HK$263 million for the year ended 28 February 2010. Earnings per share were HK$0.23. Final dividend of HK$0.105 per share was declared with an option to elect scrip shares. (Hong Kong Economic Times A8)
International Elite Ltd. (1328 HK) has noted a press article alleging that the PRC Telecom Operator has stopped using RF-SIM as its standard for its future mobile payment development. The Company responded that the PRC Telecom Operator has not made any affirmative final decision in relation to the standard for its future mobile payment development; and the Sunward Group’s customers that RF-SIM cards are still being produced and supplied ultimately to the PRC Telecom Operator. (SingTao Daily B2)
(0960) LONGFOR PROPERTIES CO. LTD. WUXI PROJECTS 105 SETS SUBSCRIBED The company announced that its Wuxi projects have been subscribed for 105 sets, over 95 per cent of subscription rate, involving capital of around 420 million yuan. (SingTao Daily B2)
Prudential’s plan (2378 HK) for AIA acquisition was cancelled following strong opposition from fund shareholders. The company is required to pay handling charges for AIG and bear financial consulting fee amounting to as much as HK$5.1 billion. (SingTao Daily B1)
Shui On Construction (983 HK) and Materials sold around 317 million shares of Shanghai Electric Group Company Limited to Shui On Group for around HK$1.08 billion. (SingTao Daily B2)
Guoco Group (23 HK) has repeatedly increased its interests on the Bank of East Asia, holding up to 9.12 per cent of its stocks. David Li Kwok Po, chairman of BEA, said that it was not clear about the motive of Guoco Group’s increasing stake holding. (SingTao Daily B3)
The Link Real Estate Investment (823 HK) announced yesterday that its distributable proceeds amounted to 2.134 billion for the year ended 31 March 2010, up 17 per cent year-on-year. A final dividend of 49.02 HK cents per fund unit was declared. (SingTao Daily B2)
CHAIRMAN ARRESTED RUMOUR; PLUNGE 11% It was rumoured that Mainland public security department arrested the company chairman Wang Yusuo following the opening of the stock market yesterday. The stock price plummeted 22 percent just in one hour. The company’s spokesperson said the message is incorrect. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
