Friday, August 6, 2010

Hong Kong Stock Market Wrap August 5th, 2010

Beijing Capital Land Limited (2868 HK) achieved contracted amount of 470 million yuan in July, up 26 per cent mom. Contracted amount was 4.9 billion yuan in the first 7 months. (Hong Kong Economic Journal P12)

Cheung Kong (1 HK) recorded about 4 per cent rise in net profit to HK$11.92 billion in the first half. Earnings per share were HK$5.15 while interim dividend was HK$0.5 per share, unchanged from a year ago. (SingTao Daily B1)

Dragonite International (329 HK) has issued profit warning earlier but its share price surged over 30 per cent yesterday. Chairman Wong Yin Sen says he does not know the reason of the share price increase. (SingTao Daily B2)

GOME Electrical Appliances (493 HK) has filed a writ of summons in the High Court against former executive director and major shareholder Wong Kwong Yu for his alleged breach of fiduciary duties relating to the shares repurchases in 2008 and is seeking compensation. Trading of shares resumes today. (Hong Kong Economic Times A12)

Greentown China Holdings (3900 HK) recorded contracted sales of around 22 billion yuan in the first 7 months. Contracted sales in July amounted to 2.6 billion yuan. (Hong Kong Economic Journal P12)

GZI Real Estate (405 HK) total distributable income for the 2010 interim period hit 116 million yuan (around HK$133 million), rising 4.9 per cent year-on-year. Earnings per unit were 0.2563 yuan. An interim distribution of around HK$0.1246 per unit was declared. (SingTao Daily B3)

Hutchison (13 HK) net profit jumped 12 percent to HK$6.45 billion for the first six months ended June 30, beating market forecasts. The increase in profit is mainly attributable to a compensation contribution of over HK$1 billion from certain suppliers and the improved port services. Earnings per share hit HK$1.51 and an interim dividend of 51 HK cents per share was paid, unchanged from last year. (SingTao Daily B1)

KTP Holdings (645 HK) controlling shareholder Lee Chi Keung, Russell has received indications from independent third parties regarding their interests in buying all or part of his shareholding. Lee is interested in around 59.76 per cent of the total issued shares. (Hong Kong Economic Times A12)

Manulife Financial (945 HK) posted a net loss of 2.398 billion Canadian dollars (around HK$18.35 billion in the second quarter, sinking into the red from the first quarter. Loss per share was 1.36 Canadian dollars. A dividend of 0.13 Canadian dollars was paid. (SingTao Daily B2)

Morning Star Resources (542 HK) announced yesterday that the placement of 1.53 billion shares at the price of HK$0.20 each by the former major shareholder through Firstway and Bonham was completed on 5 August 2010. (SingTao Daily B2)

Neo-China Land Group (563 HK) chairman Li Song Xiao decreased holding of shares in the company by 10.43 million shares at undisclosed price on 2 Aug, taking its shareholding in the company to 18.78 per cent. (Hong Kong Economic Journal P12)

Orient Overseas (316 HK) had a profit of US$1.285 billion (around HK$10 billion) in first six months, successfully returning to the red. Earning per share were US$2.05. An interim dividend of 11.5 US cents per share was declared and a special dividend of 40 US cents per share was also recommended. Orient Overseas share price ended up 1.5 per cent to HK$63.65 yesterday. (SingTao Daily B3)

Peace Mark (Holdings) (304 HK), who has appointed provisional liquidators, signed an escrow and exclusivity agreement with investor Global Peak Investments regarding restructuring in Nov last year but the latter sent a notice to terminate the agreement in May. A new exclusivity agreement was signed on 23 July amongst the provisional liquidators, the company and investor Fan Rongzhang for the implementation of the restructuring proposal. (Hong Kong Economic Times A12)

Tao Heung Holdings (573 HK) CEO Leung Yiu Chun Eric said yesterday that same store sales in the mainland grew 3 per cent in 1H while dipped 2-3 per cent in HK as rising inflation hurt consumption. It plans to increase contribution from mainland business to 25 per cent within 2 years. (Hong Kong Economic Times A12)

TCI Master Fund, a subsidiary of TCI Fund Management, decreased holding of over 950,000 units in The Link Real Estate (823 HK) at an average price of HK$20.196 per unit on August 2. Its stake in the company goes down to 4.97 per cent while its parent, TCI Master Fund, still holds more than 50 per cent equity interest in The Link Real Estate currently. (SingTao Daily B2)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard