Tuesday, October 12, 2010

Hong Kong Stock Market Wrap October 11th, 2010

Asian Citrus’ (73 HK) wholly-owned subsidiary A-One Success entered into an agreement with Sunshine Hero, Excel Blaze, 5 bondholders and a guarantor yesterday. A-One Success is to acquire from them the entire issued share capital of BPG Food & Beverage at consideration of HK$2.0407 billion. (Hong Kong Economic Journal P8)

Celestial Asia and CASH Financial Services Group (1049 HK) jointly announced that the former’s major shareholder and directors sold an aggregate of 18.168 million shares of the latter yesterday. (SingTao Daily B2)

Chiho-Tiande (976 HK) has signed a joint venture agreement with Shanghai Lu Yong. The JV is expected to have a registered capital of 31 million yuan, which will be contributed by the company as to 51 per cent. (SingTao Daily B2)

China Natural Investment (8250 HK) has disposed a total of 30.66 million shares of Apollo Solar Energy Technology (0566) on the open market from 4 Mar to 5 Oct 2010, at an average price of HK$0.74 per share, involving around HK$22.7 million in total. The proceeds is expected to be around HK$12.9 million. The company will cease to hold any Solar Shares after the disposal. (SingTao Daily B2)

China Overseas Land & Investment (688 HK) recorded Sep sales of HK$8.05 billon, jumping 61 per cent mom, with sales area of 566,000 sqm. Sales for the first 9 months amounted to HK$46.1 billion, with sales area of 3.595 million sqm, down 10.2 per cent. (Hong Kong Economic Journal P4)

CNOOC (883 HK) has planned to acquire around 33 per cent equity interest in the US Eagle Ford Shale project for a consideration of US$1.08 billion (around HK$8.4 billion) in cash. The oil company has agreed to fund 75 per cent of Chesapeake's share of drilling and completion costs, until it has invested another US$1.08 billion. (SingTao Daily B1)

Far East Hotels (37 HK) has entered into a provisional contract for the sale of the property that comprises a residential property known as Flat B, 7/F, Tower 1, Mount Beacon, Kowloon Tong, for a consideration of HK$33.99 million. The company expects to recognize a profit of HK$1.99 million from the disposal while the estimated net proceeds will be around HK$17.2 million. (SingTao Daily B2)

ICBC (1398 HK) announced yesterday that Huijin has completed its share acquisition plan as at 8 Oct 2010. During the past 12-month share acquisition period, Huijin increased its holding of A shares in the bank by a total of 30.07 million A shares, representing about 0.01 per cent of the bank’s total issued share capital. (SingTao Daily B2)

Henderson Land Development (12 HK) chairman Lee Shau Kee increased holding of the company by over 7.15 million shares at undisclosed price last Tue according to info from HKEx, taking his shareholding in the company to 65.67 per cent. (Hong Kong Economic Journal P10)

HSBC (5 HK) is planning to sell the UK train leasing company Eversholt to a consortium including the infrastructure unit of Morgan Stanley for GBP2 billion, the UK Times reports. (SingTao Daily B2)

Kunlun Energy (135 HK) has received confirmation from China Beijing Equity Exchange yesterday regarding its bidding application for the Dalian LNG acquisition. The company has succeeded in the bidding at a consideration of around 2.009 billion yuan. (SingTao Daily B2)

Man Wah Holdings (1999 HK) announces that, during China’s National Day Golden Week from 1-7 Oct, “Cheers” 107 self-owned stores in the PRC recorded sales of 36.2 million yuan, up 38.7 per cent over the National Day Golden Week of last year. (Hong Kong Economic Times A12)

The Listing Committee of the Stock Exchange, according to SRE Group (1207 HK), convened a hearing on 7 Oct to consider application from China New Town Development, a company under SRE Group, for listing on the main board. CNTD plans to list on the main board by way of introduction on or around 22 Oct. (Hong Kong Economic Times A12)

Tomson Group’s (258 HK) subsidiary Tianjin Tomson plans to acquire 49.9 per cent equity interest in Jinwan Real Estate and 36 per cent equity interest in Jinwan Property. It submitted on 11 Oct an irrevocable bid in an open tender process at Tianjin Property Rights Exchange and paid a deposit of around 517.53 million yuan. The company, after the acquisition, will hold 75 per cent and 51 per cent equity interests in Jinwan Real Estate and Jinwan Property respectively. (Hong Kong Economic Journal P10)

Yue Yuen Industrial (551 HK) booked Sep net consolidated operating revenue of 528 million dollars, up 36.1 per cent. Net consolidated accumulative operating revenue amounted to 4.472 billion dollars for the 9 months ended 30 Sep. (Hong Kong Economic Journal P8)

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