Thursday, June 10, 2010

Hong Kong Stock Market Wrap May 31st, 2010

Cheung Kong (Holdings) (1 HK) chairman Li Ka-shing increased holdings of shares in Cheung Kong (Holdings) and Hutchison Whampoa (0013) separately on 26 May for a total of HK$31.95 million. (Hong Kong Economic Times A10)

China Haidian (256 HK) said that sales of watches in the first 5-month went up faster than the same period last year and that it was confident that the sales would grow over 26 per cent this year. (Hong Kong Economic Journal P4)

Mainland media said Shanghai International Port, 26 per cent interest held by China Merchants Holdings (144 HK), had bought 25 per cent interest in Belgium Zeebrugge for HK$265 million. (SingTao Daily B12)

China Pharmaceutical (1093 HK) recorded net profit of HK$235 million in the first quarter this year, down over 10 per cent. Earnings per share were 15.3 HK cents. No dividend was declared. (SingTao Daily B12)

China Resources Enterprise (291 HK) said capital spending went up almost 20 per cent to around HK$7 billion this year. The company is exploring 6-7 acquisition projects and expects to confirm at least 1-2 projects this year. (Hong Kong Economic Times A10)

Emperor Capital (717 HK) earned over HK$48.5 million for the six months ended 31 March 2010. Revenue went up almost 3 times over the same period last year. An interim dividend of HK$0.01 per share was declared. (Hong Kong Economic Journal P5)

SinoMedia Holding (623 HK) chairman Chen Xin said operating income went up over 50 per cent over the same period last year in the first 4-month this year but 2010 target for gross profit was to keep last year’s level as costs were also rising. (SingTao Daily B12)

Bank of China Limited (3988 HK) announced in the Shanghai Exchange yesterday that it will hold a road show via internet on June 1 for its 40 billion yuan convertible bonds. Investors can buy the six-year bond on June 2. The share price was adjusted to 3.88 yuan per share from 4.02 yuan per share. (SingTao Daily B11)

Beiren Printing Machinery Holdings Limited (187 HK) is in the process of negotiation in relation to several important transactions if the same can be approved. The company announced that its trading in the A shares of the company will be suspended for 3 days on 31 May 2010 (Monday), 1 June 2010 (Tuesday) and 2 June 2010 (Wednesday), as it is in the interests of the investors and to ensure fair disclosure of information. (SingTao Daily B11)

Recently, certain media published or reproduced articles about China National Building Material Company’s (3323 HK) subsidiaries, headed “Over 3,000 claims against BNBM were brought to the court for an amount probably exceeding US$1 billion in the US” and “Gypsum board of BNBM aroused complaints in US, experts insisted on its innocence”. The company said the report is incorrect. (Hong Kong Economic Times A12)

Gold Peak Industries (Holdings) Limited (40 HK) announced that the company recorded a profit of S$33.9 million, compared to a loss of HK$32.9 million last year. A final dividend of 10.88 HK cents per share is recommended. (SingTao Daily B11)

IPO: International Taifeng Holdings Limited is to launch its first IPO today to raise 577 million to 865 million yuan at a price of 2.06- 3.09 yuan per share. Entry fee is 6242.36 yuan per lot (2000 shares). (Hong Kong Economic Journal P2)

Legend Holdings Ltd. (992 HK), parent company of Lenovo Group Limited, plans to list in Hong Kong in five to seven years, according to CEO of Lenovo Group. In addition, its property business may also be listed to the Mainland stock market. (Hong Kong Economic Journal P4)

SMI Corporation Limited (198 HK) has acquired Australia-based Photon shares and it expects to start building a 3D producing base and a training school. (SingTao Daily B11)

Standard Chartered PLC (2888 HK) has completed a successful book-building process for its proposed listing of Indian Depository Receipts (“IDRs”), and has now closed the offer. The issue price per IDR will be INR 104. A total of 240 million IDRs will be issued producing gross proceeds of approximately INR 24.9 billion. The net proceeds receivable by the bank are approximately INR 24.6 billion. (SingTao Daily B11)

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