AgBank (1288 HK) will be included in MSCI China Index on Thursday. Its share price hit record high yesterday to HK$3.5, with turnover of nearly HK$2.9 billion, ranking first on the bourse. (Hong Kong Economic Journal P6)
Anton Oilfield Services (3337 HK) expects consolidated profit to increase significantly for the six months ended 30 June as overall profit margin level increased on successful marketing of new technologies and higher proportionate revenue of products of technical service. (Hong Kong Economic Times A11)
Asia Cassava (841 HK) posted 100 per cent growth in net profit to HK$103 million for the year ended 31 March 2010. Basic earnings per share were 31.1 HK cents. A final dividend of 6 HK cents per share was paid. (SingTao Daily B3)
Asia Commercial (104 HK) recorded a net profit of over HK$51 million for the year ended 31 March 2010, growing by 29 per cent year-on-year. Basic earnings per share were 8.53 HK cents. A final dividend of 1.5 HK cents per share was recommended. (SingTao Daily B4)
Celestial Asia (1049 HK) aims to raise up to HK$49.3 million through a top-up placement of up to 20 million shares at HK$2.5 each. Its controlling shareholder also plans to exercise conversion rights of part of its convertible notes, involving HK$6.5 million. After completion of the conversion, the stake held by the controlling shareholder will be diluted to 33.07 per cent. (SingTao Daily B3)
China Eastern Airlines (670 HK) plans to jointly establish a joint venture with Yunnan SASAC, of which the registered capital will be 3.66 billion yuan. The company will contribute a total of 2.38 billion yuan to the joint venture. (SingTao Daily B3)
China Strategic (235 HK) Chief Executive Raymond Or says that it is confident in completing the acquisition of Nan Shan Life Insurance before the deadline on October 12. He does not exclude introducing strategic investors for Nan Shan after completion of the deal. China Strategic shares ended up 1 per cent to close at HK$0.5 yesterday. (SingTao Daily B4)
Morgan Stanley lowered target price for China Zhongwang Holdings (1333 HK) from HK$9.5 to HK$4.5 yesterday, saying that Aluminum Corporation Of China (2600) constitutes a threat to its leading position. Share price went down 8.9pc on the news. (Hong Kong Economic Times A11)
CITIC Coal (1205 HK) under CITIC Resources Holdings terminates a transaction regarding selling certain interest to Macarthur Coal as the waiver of the pre-emptive rights of all of the Coppabella and Moorvale JV participants, other than Macarthur Coal, has not been forthcoming. (Hong Kong Economic Journal P4)
CK Life Sciences (775 HK) Int’l earned around HK$48.63 million for the six months to 30 June 2010, down 81 per cent. Profit before fair value changes on financial instruments was HK$77 million, increasing by 7 per cent. Earnings per share were 0.51 HK cents. No dividend was declared. (SingTao Daily B3)
Comtec Solar Systems (712 HK) expects interim net profit to go up over 12 times over the same period last year based on a preliminary review of the management accounts.
(Hong Kong Economic Times A11)
G-Resources Group (1051 HK) vice chairman Owen Hegarty said yesterday that apart from the Indonesian gold and silver mine project, the company may seek new project in Southeast Asia district. As many countries increase holding of gold for reserve and the demand for gold is robust, Hegarty hence expects gold price to rise than to fall in the future. (SingTao Daily B4)
Hi Sun Technology (818 HK) expects interim results to sink into the red as operating profit of wireless business dropped and operating loss of electronic power meters and solutions segment rose. (Hong Kong Economic Times A11)
The United Laboratories International (3933 HK) expects interim net profit to be at least 3.5 times of that in the same period last year as sales of intermediate products, bulk medicine products and finished products rose satisfactorily. (Hong Kong Economic Times A11)
ZTE (763 HK) will start its investment in derivative hedging products for 6.5 billion yuan in total through financial products offered by financial institutions. ZTE share price closed at HK$24.95 yesterday, up 1 per cent. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
