China Overseas (688 HK) announced that the sales volume for the first months amounted to HK$28.1 billion, increasing by 7 per cent year-on-year, which accounts for 56 per cent of its full-year sales volume target of HK$50 billion. However, the sales areas in the first half dropped 21 per cent year-on-year to only 2.2 million square metres, which was less than half of its full-year target. (SingTao Daily B4)
China Shipping (1138 HK) expects to record an increase of over 50 per cent in its net profits for the first half year ended 30 June 2010, when compared with a net profit of 614 million yuan in the same period last year. The increase in profits was mainly due to the increase in the transportation demand in both the international and domestic shipping markets, which resulted in the increase in the freight rates. (SingTao Daily B4)
China Star Investment (764 HK) plans to place 45.92 million shares at a price of HK$0.55 each through Kingston Securities Limited. The proceeds from the placing will be around HK$25.26 million, which are intended to be used for general working capital of the company. (SingTao Daily B3)
Computime Group (320 HK) posted a net profit of over HK$34.8 million, surging 70 per cent year-on-year. Earnings per share were 4.2 HK cents. A final dividend of 1.8 HK cents was declared. (SingTao Daily B3)
Convoy Financial Services (1019 HK) opened at HK$1.29 in the gray market, 7.5 per cent higher than the offering price of HK$1.2. The price closed at HK$1.25, up 4.2 per cent. (Hong Kong Economic Journal P7)
Emperor International (163 HK) will release sales brochures for The Java in North Point on 15 July. The project is expected to be launched next week at the earliest, with reference prices of HK$14,000 to HK$15,000 psf. The group expects housing prices in the HK Island may rise up to 15 per cent by the end of this year. (Hong Kong Economic Journal P11)
Haitian International (1882 HK) expects its net profit for the six months ended 30 June 2010 will increase by over 300 per cent. The revenue is expected to surge over 120 per cent.
Longrun Tea Group (2898 HK) announced that it recorded a loss of over HK$30 million for the year ended 31 March 2010. Loss per share was 3.07 HK cents. No final dividend was paid. The company posted a loss of HK$5.5 million a year ago. (SingTao Daily B3)
Neo-China Land Group (563 HK) has appointed Cai Yu Tian, CEO of Shanghai Industrial (0363), as chairman, Ni Jian Da, Qian Shi Zheng, Zhou Jun, Yang Biao and Chen An Min as executive directors, Doo Wai-Hoi, William, J.P., Wong Ying Ho, Kennedy, BBS, J.P., Fan Ren Da, Anthony and Li Ka Fai, David as independent non-executive directors, with effect from 5 July. (Hong Kong Economic Journal P11)
New Island Printing (377 HK) is at the preliminary stage of communication with an independent third party to explore the possibility of a business co-operation opportunity. The share price of the company closed at HK$1.45 yesterday, down 14.7 per cent. (SingTao Daily B3)
Polyard Petroleum International (8011 HK) will soon complete its preparation work for the first well Mawar-1 in Brunei project via a subsidiary. The JV project will start assessment work for a second well in August this year. (Hong Kong Economic Journal P7)
Sino-Ocean Land (3377 HK) plans to issue convertible securities to raise up to US$900 million to finance new and existing projects. The securities are expected to bear distribution at 8 per cent per annum, payable semi-annually, with initial conversion price of HK$6.85 per share. (Hong Kong Economic Times A14)
StanChart (2888 HK) has signed an agreement to acquire GE Commercial Financing (Singapore) Ltd, a specialist in hire purchase financing in Singapore. The acquisition will enhance the range of product and service solutions to be offered to both new and existing customers in Singapore. (SingTao Daily B3)
BEA (23 HK) chairman Li Kwok Po David increased holding of shares in the company by a total of 210,000 shares for HK$5.835 million in total on 7 July and 8 July, taking his shareholding in the company from 2.78 per cent to 2.79 per cent. (Hong Kong Economic Journal P7)
Yuzhou Properties (1628 HK) has sold around 200 units at "Yuzhou Castle Above City" project in Xiamen since its launch on 10 July. Average selling price amounted to over 17,000 yuan per square meter. Sales reached 400 million yuan. (Hong Kong Economic Journal P11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
