China COSCO (1919 HK) expects to return to the black in 1H. As international shipping market regained growth momentum during the period, revenue generated from shipping operation rose sharply over the same period last year. (Hong Kong Economic Times A8)
China Energy Development (228 HK) expects to record a loss in its interim results. The reason is that its financial assets held for trading recorded substantial loss. (SingTao Daily B12)
China Oil And Gas Group (603 HK) signs cooperation agreement with Jiangsu Pingxiang City People’s Government to set up a JV company to develop in Pingxiang City natural gas integrated utilization business and the related natural gas stations business. (SingTao Daily B12)
China Star Film (8172 HK) expects substantial loss in its interim results for the 6-month ended 30 June, mainly due to recognizing losses on early redemption of convertible bonds and
SANK INTO THE RED Modern Beauty Salon (919 HK) lost HK$41.2 million for the year ended 31 March 2010. A special dividend of 2.8 HK cents per share was proposed. (SingTao Daily B12)
RCG Holdings (802 HK) said The Offshore Group controlled by Tony Chan sold 5 million shares to an institutional investor on 14 July, taking its shareholding in the company to 20.49 per cent. (Hong Kong Economic Journal P6)
Sewco International (209 HK) acquires 82.3 per cent equity interest in Tycoon Beverage Group. The consideration of HK$390 million will be settled by way of HK$300 million cash and the issue of HK$90 million 2-year promissory note. (SingTao Daily B12)
First Pacific (142 HK) plans to issue guaranteed secured bonds in an aggregate amount of US$300 million. The Bonds will bear an interest rate of 7.375 per cent per annum and be due in July 2017. (SingTao Daily B15)
Kwong Hing International (1131 HK) revenue went down 32.6 per cent to HK$159 million. It recorded a loss of HK$4.57 million for the year ended March 31, substantially less than the loss of HK$42.61 million last year. Loss per share was 1.2 HK cents. No final divided was paid. (Hong Kong Economic Times A12)
NET PROFIT HK$192M; RETURNS TO BLACK New Century Group (234 HK) recorded a net profit of HK$192 million for the year ended March 31, returning to the black this year. The increase in profit was mainly due to the surge of fair value gains in securities trading and property investment. Earnings per share were 3.32 HK cents and a final dividend of 0.4 HK cents was paid. (SingTao Daily B15)
New World China Land (917 HK) plans to use around 19 billion yuan expanding Wuhan and Shenyang markets in the next few years. The exhibition centre located in Shenyang, which is the first of its kind in the mainland, will be completed after three years. (Hong Kong Economic Journal P8)
NET PROFIT HK$202M; DOWN 38.88% Strong Petrochemica (852 HK) net profit for the year ended 31 March 2010 dropped 38.88 per cent from the last year to HK$202 million. Its trading in derivative financial instruments recorded a loss of HK$115 million while a gain of HK$208 million was posted a year ago. Earnings per share were HK$0.13, jumping 3.2 times from 2009. (Hong Kong Economic Times A12)
The major developer of Larvotto Sun Hung Kai Properties (16 HK) sold 94 apartments in two days, reaping around HK$4 billion. It launched another 100 units thereafter. (Hong Kong Economic Journal P10)
Yangtzekiang Garment (294 HK) announced its turnover for the year ended March 31 was down 19 per cent to HK$1.31 billion. Net profit went up 44 per cent to HK$103 million, which was mainly due to a substantial gain from the sale of property in Macau. Earnings per share were HK$0.49. A final dividend of 6 HK cents per share was proposed. (Hong Kong Economic Times A12)
YGM (375 HK) had a net profit of HK$197 million, surging 145 per cent. A dividend of HK$0.4 was declared. (SingTao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
