It is said BP is in talks with CNOOC (883 HK) for selling its Argentina assets, around 6 billion pounds market expects. BP holds 60 per cent equity interest in Pan American Energy and reportedly plans to sell most of it. (Hong Kong Economic Times A10)
Transfer of listing from GEM to the main board is approved. EVOC Intelligent Technology (8285 HK) expects trading in the H shares on the main board will commence on 12 July under the stock code 2308. (SingTao Daily B3)
HSBC (5 HK) will acquire RBS's retail and commercial banking businesses in India for at least to US$95 million. The bank says gross asset value of the portfolios amounted to US$1.8 billion as at 31 March and expects to complete the acquisition in 1H next year. (Hong Kong Economic Times A10)
Maoye International (848 HK) has successfully bid for a land located at Jinzhou, Liaoning with area of 6,947sqm in an auction for 159 million yuan. The company plans to build on the land a department store and apartment complex. (Hong Kong Economic Journal P6)
Nam Hing (986 HK) plans to issue HK$200 million 2-yr zero coupon convertible bonds to raise around HK$193 million. Conversion price must be higher than the closing price for the last 5 trading days immediately before the date of conversion. (SingTao Daily B3)
Vinda International (3331 HK)signs new product supply agreement with major shareholder SCA Hong Kong, with term from 29 June this year to 31 December 2012. SCA Hong Kong will pay around US$2.8 processing fee for each box of products. (Hong Kong Economic Times A10)
Xpress Group (185 HK) announces that SingXpress and ACT establish a JV company to develop a residential housing project in Singapore. The company holds over 33 per cent interest of SingXpress and SingXpress holds 80 per cent interest of the JV company. (SingTao Daily B3)
(0182) CHINA WINDPOWER GROUP LIMITED TO SECURE LOAN AND PLACE SHARES TO RAISE HK$1.26B Genesis Energy’s wholly owned subsidiary has secured a loan from International Finance Corporation under the World Bank amounting to as much as HK$1.186 billion for financing the Guazhou wind power project and the step-up station. In addition, the company plans to place 101 million shares to IFC at a price of HK$0.77 per share worth HK$77.5 million for the general operating capital of its wind and energy power business. (Hong Kong Economic Times A10)
CITIC Resources (1205 HK) and its partner United Asia Investments Limited agreed to capitalize their shareholder loans in CITIC Dameng Holdings for an aggregate amount of HK$235 million. (SingTao Daily B10)
Coolpoint Energy (8032 HK) has sold 268 million options at a strike price of HK$0.78 each, equal to its closing price last Friday. Among the 268 million options, 90 million was sold to directors of the company. (Hong Kong Economic Times A12)
Country Garden (2007 HK) has signed contracted sales amounting to 13.2 billion yuan and contracted sales areas 2.42 million square meters for the first half of the year, up 50 per cent and 26 per cent over the same period last year respectively. (SingTao Daily B12)
Genesis Energy (702 HK) plans to place a maximum of 4.415 billion new shares at a price not less than HK$0.53 per share to raise around HK$2.222 billion. The fund will be used to acquire a company involved in the business of exploration, development and production of the methane coal bed in the mainland. (Hong Kong Economic Times A10)
Madex International (231 HK) plans to set up a joint venture with Worldpro to engage in property investment in the PRC, such as property development and provision of management services. The company will hold 49 per cent of interests in the joint venture. (SingTao Daily B10)
Neway Group (55 HK) recorded a net profit of HK$60.2 million for the year ended 31 March 2010, returning to the black from a loss of HK$17.9 million at the same period last year. A final dividend of 0.08 HK cents per share was recommended. (SingTao Daily B10)
Richfield Group (8136 HK) benefits from the government's lowering of the threshold for compulsory auction of real-estate properties. The contracts signed in the first half by the company amounted to worth HK$10 billion in total, which is far more than the full-year gross contract value last year. (Hong Kong Economic Journal P9)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
