AgBank (1288 HK) announces that its wholly owned Agricultural Bank of China Financial Leasing Co., Ltd. was approved to commence its operation, with registered capital of 2 billion yuan. It was approved to carry out businesses including financial leasing business and interbank lending. (Hong Kong Economic Journal P9)
C C Land Holdings (1224 HK) posted contracted sales of HK$3.1 billion as of the end of the third week of August. The figure accounted for 90 per cent of its sales target of HK$3.4 billion. (Hong Kong Economic Times A9)
China Communications Construction’s (1800 HK) contracts signed in the first half ended June 30 amounted to 188.27 billion yuan, rising over 21 per cent year-on-year. CCC is currently holding contracts totaled 439.23 billion yuan, growing 22 per cent year-on-year. (SingTao Daily B4)
New contracts of China Railway (390 HK) in July and August reached 100 billion yuan. The construction firm says new contracts signed in the first half amounted to above 370 billion yuan, rising 45 per cent year-on-year. Of which overseas contracts were around 40 billion yuan, accounting for about 10 per cent of the overall newly signed contracts. (SingTao Daily B4)
China Strategic (235 HK) and Primus’ deal to acquire Nan Shan Life has been rejected by the Taiwan authority. Ma Si Hang and Or Ching Fai Raymond said in a conference yesterday that no formal notice has been received yet but the company will talk to AIG and Primus in the next few days to discuss whether to file an appeal.
(Hong Kong Economic Times A9)
Embry Holdings (1388 HK) saw net profit climb 30.6 per cent to HK$80.75 million for the six months ended June 30. An interim dividend of 3 HK cents per share was declared, unchanged from the previous year. Same-store sales in the first half generated a high single-digit growth. (SingTao Daily B4)
Guangzhou R&F Properties’ (2777 HK) contracted sales amounted to around 18.2 billion yuan as of the end of August, up 11 per cent over the same period last year, around 60 per cent of the full-year target. Total sales area reached 1.48 million meters, down 12 per cent over the same period last year. (Hong Kong Economic Journal P10)
HSBC (5 HK) says it has started providing mortgage services in Russia since yesterday. The bank said in a statement that in the coming 10 years demand for mortgage in Russia may grow 10 times. (Hong Kong Economic Journal P9)
Mainland Purchase Managers Index (PMI) bounced back in August after slowing for three straight months, leading to a general rebound in the Asian stock markets yesterday. King Fook (280 HK) was one of the four retail stocks amid the top ten having largest turnover. Its share price ended 21.36 per cent higher to HK$1.25 yesterday. (SingTao Daily B2)
KWG Property's (1813 HK) contracted sales reached 8.2 billion yuan by the end of last month, hitting about 80 percent of its full-year presale target of 10 billion yuan, with a better-than-expected average price of 1,1600 yuan per square meter. Chairman Kong Jianmin expects home prices in the second half to remain stable and the average price can be maintained at the current level. (SingTao Daily B4)
Mainland largest glauber salt producer Lumena Resources (67 HK) posted a 40 per cent growth in net profit to 357 million yuan in the first half. An interim dividend of 5.2 HK cents per share was distributed for the first time. (SingTao Daily B4)
Natural Dairy (NZ) (462 HK) said it has acquired quality dairy cow farm in New Zealand and has completed 20 per cent of the first substantial transaction, with remaining 80 per cent pending New Zealand OIO’s approval. (SingTao Daily B4)
Ping An Insurance (2318 HK) and Shenzhen Development Bank announces a plan to transfer Ping An Insurance’s 90.75 per cent interest in Ping An Bank to Shenzhen Development Bank. The insurer plans to buy 1.639 billion shares to be issued by Shenzhen Development Bank at 17.75 yuan apiece. (Hong Kong Economic Times A8)
Powerlong Real Estate plans (1238 HK) to issue senior notes and will begin a series of meetings with institutional investors, with HSBC and Royal Bank of Scotland as joint lead managers and joint bookrunners. (Hong Kong Economic Journal P10)
Sino Land (83 HK) will announce its full-year results ended June 30 today. It is expected that its basic profit will be between HK$3.089 billion and HK$3.541 billion, dipping 1.7-14.2 per cent year-on-year, whereas profit in the second half is set to see the upside trend again. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
