Bosideng International (3998 HK) chairman Gao De Kang expects profit from non-down apparel business to account for 30 per cent of the total profit by 2013. He intends to increase the number of retail outlets for “Bosideng Menswear” to 1100 in the PRC within the year and to open more than 300 “Rocawear” freestanding stores and shop-in-shop concepts by 2013. (Hong Kong Economic Times A13)
China Motion Telecom (989 HK) recorded a net profit of HK$36.87 million for the year ended 31 March 2010, decreasing by 76 per cent. No dividend was declared. (SingTao Daily B3)
Country Garden Holdings (2007 HK) major shareholder Yang Huiyan increased holding of shares in the group by around 230m shares at HK$2.18 each in average on 2 July, involving over HK$500m. (Hong Kong Economic Journal P12)
Fairwood (52 HK) announced its annual results for the year ended March 31 yesterday. Its turnover increased by 6.6 per cent to HK$1.56 billion and net profit grew by 16.6 per cent to HK$93 million year-on-year. A final dividend of 28 HK cents per share was proposed. Basic earnings per share were 74.21 HK cents. (SingTao Daily B4)
Geely Automobile’s ( 175 HK) parent signs strategic cooperation agreement with Faurecia of France and plans to enhance the capacity of 11 plants to 2 million units by 2015. The group says EU has agreed its acquisition of Volvo and the deal will be completed in Q3. (Hong Kong Economic Times A13)
Guangzhou Automobile (2238 HK) is required to disclose Q1 results as it has issued corporate bonds of 6.7 billion yuan according to the rules of the mainland regulatory authority. In according with PRC GAAP, the company recorded earnings of around 1.349 billion yuan from Jan to Mar. (Hong Kong Economic Times A13)
Hon Kwok Land (160 HK) posted a net profit of around HK$3.74 billion for the year ended March 31, surging 3.86 times from last year. A final dividend of 12.5 HK cents per share was proposed. (SingTao Daily B3)
HSBC (5 HK) has appointed Lazard as its financial consultant for the preliminary assessment of the South African Nedbank acquisition, foreign media reports. HSBC is able to strengthen its business in Africa via Nedbank, one of the four giant banks in South Africa. (SingTao Daily B3)
IDT International (167 HK) had a loss of HK$138 million for the year ended 31 March 2010. No dividend was paid. In addition, with effect from July 12, 2010, Mr. Barry John Buttifant will be appointed as executive director and chief executive officer while Raymond Chan will cease to be the CEO and will remain as the chairman of the board. (SingTao Daily B3)
Li & Fung (494 HK) has signed 7 projects over the past few months. Projects involve health care, cosmetics and apparel businesses, etc. The company acquired Jackel Group in May and HTP Group and most of assets in Cipriani Accessories and The Max Leather Group in June. (Hong Kong Economic Times A13)
Maoye (848 HK) has successfully bid for a parcel of land located in Huaian Supply and Marketing Cooperative in the core commercial circle in Jiangsu Province for a consideration of 275 million yuan. It plans to construct a department store and apartment complex on the land and will operate the department store in the complex under the “Maoye” brand. (SingTao Daily B3)
China New Town Development Company Limited, the Singapore listing company in which SRE Group (1207 HK) holds over 61 per cent interest, submitted an application for dual primary listing on the local bourse by way of introduction yesterday, according to HKEx data. (SingTao Daily B3)
Chairman of BEA (23 HK) Li Kwok-po has increased holding of 2 million shares at a price of HK$28.49 per share, involving HK$57 million. Li’s stake in BEA increased to 2.78 per cent. (SingTao Daily B3)
Vladimir Potanin says he will not stand United Company RUSAL (486 HK) letting Alexander Voloshin return to his position as chairman of Norilsk Nickel, saying that this will harm core value of Norilsk Nickel. Vladimir Potanin and United Company RUSAL hold 25 per cent interest in Norilsk Nickel separately. (Hong Kong Economic Journal P6)
Yuzhou Properties (1628 HK) issues HK$1b bonds to companies under China Life Insurance (2628), with 10 per cent annual interest rate and 3-yr term. The company says it has no urgent need for financing but intends to increase land reserves during market adjustment. (Hong Kong Economic Times A13)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
