Wednesday, October 20, 2010

Hong Kong Stock Market Wrap October 19th, 2010

Starting 14 Oct, BOCHK (2388 HK) has provided RMB banknotes clearing service to 2 designated RMB banknotes business banks appointed by the Taiwan authority, Bank of Taiwan and Mega Bank. The first lot of RMB banknotes was delivered to Taiwan on 19 Oct. (Hong Kong Economic Times A12)

China Railway Erju (SHA:600528), 51 per cent owned by China Railway Group (390 HK), expects net profit attributable to parent for the period ended the end of Sep to go up around 60 per cent to 690 million yuan. The figure in 2009 was 429 million yuan. (Hong Kong Economic Times A12)

China Southern Airlines (1055 HK) expects its net profit for the first 3Qs to go up over 1,400 per cent over the corresponding period last year because of factors such as an increase in the demand for aviation and transportation services and an exchange gain from the appreciation of RMB against dollar. (Hong Kong Economic Times A12)

China Unicom (762 HK) disclosed the operational statistics for Sep that the aggregate number of 3G service subscribers was 10.554 million, hitting record high again. Net additions of 3G service subscribers during the period amounted to 1.043 million. The total number of 2G service subscribers was 151.5 million, with net additions of service subscribers amounting to 801,000, increasing sharply as compared with the 682,000 in Aug. (SingTao Daily B4)

Chuang’s Consortium (367 HK) has recently appointed an international real estate agent to explore the possibility of a sale of a property located at No. 83 Wuhu Street, Hunghom, with an indicative price of around HK$1 billion. Shares of the company rose 7.07 per cent to end at HK$1.06 yesterday. (SingTao Daily B2)

CLP (2 HK) booked total revenue of HK$43.5 billion for the first nine months ended Sep 30, leaping 15.6 per cent. The company distributed a third interim dividend of HK$1.56 per share. Hong Kong electricity business generated a 4.3 per cent growth in revenue to HK$21.944 billion for the first nine-month period, while Australia energy business had a 35.8 per cent increase to HK$19.209 billion. (SingTao Daily B4)

Freeman Corporation (279 HK) expects to record a loss for the six months ended Sep 30 as compared to the profit for the same period in 2009. The estimated loss is mainly due to net unrealized losses on investment at fair value. (SingTao Daily B2)

According to China accounting standards, Huaneng Power (902 HK) posted a net profit of 1.12 billion yuan for the third quarter, tumbling 48 per cent year on year. Earnings per share amounted to 0.26 yuan. No interim dividend was declared. The profit for the first three quarters this year also went down 23 per cent to 3.146 billion yuan. (SingTao Daily B4)

Minmetals Resources Limited (1208 HK) announced yesterday to acquire from its parent China Minmetals Non-Ferrous Metals mining assets MMG for US$1.846 billion. It also plans to seek a specific mandate from independent shareholders to issue 2.7 billion new shares to raise net proceeds of US$1.6 billion. (Hong Kong Economic Times A14)

Multifield International (898 HK) aims to acquire a property situated at Multi-storey Lorry Park, Ground Floor to Lower Ground 1-5 Floor of Southmark, 11 Yip Hing Street, Aberdeen from an independent third party, involving around HK$112 million. The company is expecting to further expand its investment properties portfolio in commercial premises. (SingTao Daily B2)

Sino-I Technology (250 HK) states that it is not aware of any reasons for the volatility of share price except an intended disposal of 4 blocks of building in Beijing. Shares of the company surge 12.77 per cent to close at 5.3 HK cents yesterday. (SingTao Daily B2)

Sunac China (1918 HK) saw net profit jump 63 per cent yoy to 191 million yuan for the 6 months ended June 30. Revenue rose 8.4 per cent to 790 million yuan. No dividend was declared. (Hong Kong Economic Journal P12)

BEA (23 HK) launches non capital protected CNY-denominated linked deposit, with minimum deposit amount at 50,000 yuan, available until 22 Oct. Customers, during a 6-month investment period, may earn a coupon rate linked with the 3-month USD LIBOR, subject to a floor level of 2.5 per cent pa and a cap level of 4 per cent pa. (Hong Kong Economic Journal P10)

Benefiting from the peak season of the beer sales, Tsingtao Brewery (168 HK) booked a nearly 13 per cent rise in net profit to 695 million yuan for the third quarter. Earnings per share was 51.4 fen. Driven by the surge of beer sales, the brewery recorded a net profit of 1.525 billion yuan for the first nine months. (SingTao Daily B4)

Yashili International Holdings (1230 HK) opens its retail book today to raise up to 3.09 billion. A substantial shareholder places 70 million existing shares to raise up to 336 million. It is said its international placing was oversubscribed. (Hong Kong Economic Times A12)

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