Arnhold (102 HK) announces that its controlling shareholders, who hold 73.8 per cent interest in the company, are currently under negotiation for the disposal of its interest in the company. It is intended that a general offer will be extended by the potential investor following the completion of the disposal. (SingTao Daily B3)
Asia Cassava Resources (841 HK) saw interim net profit to Sep 30 climbing 42 per cent year on year to HK$48 million. Profit of cassava-related business amounted to HK$41 million, surging nearly 65 per cent from a year ago. Earnings per share amounted to 13.4 HK cents and an interim dividend of 2.2 HK cents per share was paid. (SingTao Daily B3)
Pricerite Stores, owned by Celestial Asia Securities (1049 HK), has teamed up with Beijing-based construction materials retail firm OrientHome, planning to open 200 franchise stores over the next five years in mainland cities other than in Guangdong Province. It is expected the first store to be opened in Beijing in the first quarter next year. (SingTao Daily B4)
Guangfa Energy under China Qinfa Group (866 HK) has agreed to acquire 32 per cent equity interest in Huameiao Energy from Huiyong Jinyuan Energy of Shangxi for a consideration of 1.6 billion yuan. (Hong Kong Economic Journal P8)
China State Construction International (3311 HK) and Maeda Corporation have jointly accepted an HK$3.218 billion contract awarded by MTR Corporation (0066) to provide construction services for the Express Rail Link Contract 823B - Shek Kong Stabling Sidings and Emergency Rescue Siding. (Hong Kong Economic Journal P15)
Coastal Greenland (1124 HK) expects a consolidated net loss for the 6 months ended 30 Sep as the number of property development projects completed and deliveries of completed property units to purchasers went down. (Hong Kong Economic Journal P15)
Fantasia Holdings Group (1777 HK) plans to issue TDR. It is the first mainland housing company that plans to issue TDR. Chan Sze Hon of the company says he hopes to announce further details of the issuance by the end of the month. (Hong Kong Economic Journal P15)
The construction of phase I project at Dalian Wafangdian Wind Power Plant, which is wholly owned by Huaneng Power International (902 HK), has lately been approved by Dalian Municipal Commission of Development and Reform. Estimated total investment is around 495 million yuan. (Hong Kong Economic Times A10)
Oriental Watch Holdings (398 HK) posted profit of HK$70.454 million for the 6 months ended the end of Sep, jumping 1.05 times yoy. Turnover was HK$1.679 billion, up 18.4 per cent yoy. EPS amounted to 18.09 HK cents. The board recommends an interim dividend of 3 HK cents a share. (Hong Kong Economic Times A10)
PNG Resources Holdings (221 HK) booked interim profit of around HK$11.3 million as compared to the loss of around HK$51.78 million over the same period last year. Turnover was about HK$31.35 million. EPS amounted to 0.26 HK cent. No dividend was declared. (Hong Kong Economic Journal P8)
SITC International (1308 HK) has entered into shipbuilding contracts regarding the construction of three container vessels for an aggregate consideration of around HK$447 million. The delivery of the three vessels will be by the end of 2012. (SingTao Daily B3)
United Company Rusal (486 HK) expects aluminium prices to be US$2,400 per tonne in the fourth quarter, US$300 higher than in the third quarter. The company also expects aluminium prices to lift another US$400 over the next 12 months. (SingTao Daily B3)
VC Brokerage Limited (821 HK), a wholly-owned subsidiary of the company, made advances to five entities, primarily to subscribe for shares in the IPO of Goodbaby International on Nov 16, involving securities margin financing of a total of HK$326.9 million. (SingTao Daily B3)
VTech Holdings’s (303 HK) half-year net profit to Sep 30 was up 2.3 percent to US$94 million (around HK$726 million) from a year earlier. Revenue rose 10.3 percent to US$814 million. Basic earnings per share amounted to US$37.8. An interim dividend of 16 US cents per share was declared, unchanged from last year. (SingTao Daily B4)
Zhongda International (909 HK0 has entered into an agreement with the US-based YA Global Master. Pursuant to which Zhongda has been granted the right to require YA Global to subscribe for new shares of the former for a consideration of HK$275 million. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
