Bank of China (3988 HK) proposed to offer rights issue of both A shares and H shares at the same time to raise 60 billion yuan at most, the management said, adding that the rights issue scheme will be completed before the year-end and there is no equity financing needed for the next few years. (SingTao Daily B1)
Central China Real Estate (832 HK) has signed an agreement with 15 property companies in Henan Province to establish a joint venture situating at Zhengdong New District, Zhengzhou City, Henan Province. The joint venture, with a registered capital of 1.2 billion yuan, will be engaged in property development and investment. Central China will hold 16.67 per cent stake in the company, which is worth 200 million yuan. (SingTao Daily B2)
China CITIC Bank’s (998 HK) subsidiary CITIC Bank International intends to issue Renminbi bonds to raise 500 million yuan to 1 billion yuan, In addition, the lender has made preparation for equity-related Renminbi products and insurance products calculated in Renminbi. (SingTao Daily B2)
Comba Telecom Systems (2342 HK) has signed a 3-year loan agreement amounting to $130 million with 12 banks. The loan will be mainly used for the new developments, office building capital expenditure and loan repayment. (SingTao Daily B4)
First Mobile Group (865 HK) signs exclusivity agreement with investment advisory firm Asia Debt Management Hong Kong for a restructuring plan. The latter may choose within 30 days to restructure the company via debt acquisition or a scheme of arrangement. (Hong Kong Economic Times A10)
Glorious Property (845 HK) June contracted sales amounted to around 892 million yuan, up 72.5 per cent year on year, up 40 per cent over the 220 million yuan in May. (Hong Kong Economic Journal P7)
Greentown China (3900 HK) sold around 300,000 square metres in June, achieving contracted sales amounted to 3.1 billion yuan, growing 59 per cent month-on-month, with accumulated turnover around 21.9 billion yuan for the first six months of this year. (SingTao Daily B4)
Leroi (221 HK) said it had a net profit of around HK$37 million for the year ended March 31, returning to the black from a year ago. The revenue is mainly come from the foresting and lumbering business in Papua New Guinea. (SingTao Daily B2)
North Asia Resources (61 HK) announces that China Railway Mongolia has assisted Golden Pogada entering into an acquisition agreement for the entire shareholding of the Mongolian Company on 1 July. The Mongolian Company has obtained a land use rights licence for an 18 hectares parcel of land close to Choir Train Station, allowing it to carry out construction of the dock and the extension line. (Hong Kong Economic Journal P6)
PCCW (8 HK) enters into a partnership with Man Utd, making it the official integrated telecommunications and broadcast partner of Man Utd in HK. now TV will become official broadcaster of MUTV in HK in the next 3 yrs, to broadcast exclusively MUTV, MUTV Online and MU Mobile contents. (Hong Kong Economic Journal P3)
Pioneer Global Group (224 HK) posted profit of HK$253 million for the year ended 31 March 2010, surging 1.99 times year on year. Earnings per share were 32.92 HK cents. Proposed final dividend is 1.8 HK cents per share. (Hong Kong Economic Journal P5)
Smartone Telecommunications (315 HK) launched 3G services in Macau yesterday. The company will partner with Nokia Siemens Networks to build a 21Mbps 3G HSPA+ network to cover all areas in Macau. (Hong Kong Economic Journal P3)
BEA Life (23 HK) under BEA launches yuan savings insurance products. Policy currency is yuan but the plan will be settled in HK dollars. The plan will be on sale till 16 July. (Hong Kong Economic Journal P4)
Yuzhou Properties (1628 HK) has obtained an urban complex project located at Haixi of Quanzhou City, with a gross floor area of around 2.3 million square metres and an average price below 300 yuan per square metre. It is expected that the total investment is around 3 billion yuan and 90 per cent of the floor area will be used for constructing deluxe residences. (SingTao Daily B2)
Zhejiang Expressway (576 HK) announced that its major shareholder, Huajian Transportation Economic Development Center, has transferred 11 per cent stake in the company free of charge to the controlling shareholder Zhejiang Communications Investment Group. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
