IPO: According to sales documents issued by Deutsche Bank yesterday, West China Cement will kick off roadshow on 29 July and start IPO on 9 Aug. The company plans to list on 19 Aug, with Deutsche Bank and ICBC International as book runners. (Hong Kong Economic Times A10)
Aluminum Corporation (2600 HK) has applied for suspension of A shares trading starting from today as the company is going to discuss substantial matters. It will resume trading this Friday. (SingTao Daily B2)
China Grand Forestry Green Resources (910 HK) lost HK$2.48 billion for the year ended 31 March. Loss per share was 39.07 HK cents. The company lost HK$450 million last year. No dividend was declared. (Hong Kong Economic Journal P6)
China Water Affairs (855 HK) posted turnover of almost HK$1.4 billion for the year ended 31 March, up 35 per cent year-on-year. Net profit was over HK$300 million, up 1.62 times. (Hong Kong Economic Journal P6)
Global Bio-Chem Technology (809 HK) expects interim results for the six months ended 30 June to return to the black compared to the same period last year. (Hong Kong Economic Times A10)
TO LAUNCH RIGHTS ISSUE AT HK$0.112 EACH Heritage International (412 HK) plans to launch rights issue of 182 million shares at 11.2 HK cents each, representing around 1 per cent discount to its closing price yesterday. (SingTao Daily B2)
HSBC (5 HK) will announce its results soon. 4 securities firms expect profit of HSBC to go up 58 per cent to 1.5 times in 1H. Share price closed at HK$78.85 yesterday, up 1.7 per cent. Credit Suisse sets Outperform rating on the bank. (Hong Kong Economic Times A2)
IPE Group (929 HK) expects interim results to return to the black and turnover and net profit to hit a high since listed in Nov 2004 based on unaudited consolidated management accounts for the six months ended 30 June. (Hong Kong Economic Times A10)
Loudong General Nice Resources (China) (988 HK) announces that it completed the acquisition of equity interest in General Nice – Loudong Coal & Coke yesterday. The company is now interested in 90 per cent of the equity interests in Loudong PRC. (Hong Kong Economic Journal P6)
Mudan Automobile (8188 HK) recorded an interim profit of 3.32 million yuan ended 30 June 2010, tumbling 91 per cent. Earnings per share were 1.16 fen. No dividend was paid. (SingTao Daily B2)
Ngai Lik Industrial (332 HK) announced that Graham H. Y. Chan & Co. have resigned as one of the joint auditors of the company. The other joint auditor of the company Deloitte Touche Tohmatsu will continue as the sole auditor of the company following the resignation of Graham H. Y. Chan & Co. (SingTao Daily B2)
Shimao Property (813 HK) announced yesterday that it plans to issue US dollar senior notes. Market sources says that the company will issue US$300-500 million (around HK$2.325-3.875 billion) 7-year term high yield notes, with an interest rate tentatively set at 9.75 per cent per annum. (SingTao Daily B3)
Sustainable Forest (723 HK) earned over HK$273 million for the year ended 31 March 2010. Earnings per share were 0.1964 HK cents. In addition, the company has signed two memorandum of understanding regarding the acquisition of land rights of two pieces of additional freehold land located at Amazon Forest. (SingTao Daily B2)
Thunder Sky Battery (729 HK) had a loss of about HK$14 million for the year ended 31 March 2010, from a loss of over HK$72 million last year. Loss per share was 0.74 HK cents. No dividend was declared. (SingTao Daily B2)
Tonic Industries (978 HK) recorded a loss of HK$790 million for the year ended 31 March 2010. Loss per share was HK$0.747. No dividend was paid. The company posted a loss of HK$174 million over the same period a year earlier. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
