Friday, November 26, 2010

Hong Kong Stock Market Wrap November 25th, 2010

Asia Commercial Holdings (104 HK) says that its profit before tax amounted to HK$41 million for the six months ended Sep 30, shooting up 105 per cent over the same period last year. Sales volume during the period reached HK$460 million, rising 36 per cent from last year. Basic earnings per share was 1.25 HK cents. An interim dividend of 0.2 HK cent was recommended. (SingTao Daily B4)

Bauhaus International (483 HK) saw interim net profit soaring 34.5 per cent to HK$26 million for the period ending Sep 30. Turnover in the period went up 17.8 per cent to HK$380 million. Earnings per share was 6.4 HK cents. An interim dividend of 2 HK cents per share was distributed, unchanged from a year ago. (SingTao Daily B4)

China Modern Dairy (1117 HK) shares closed at HK$2.79 in the gray market, 3.45 per cent lower than the offer price of HK$2.89 each. Shareholders lost HK$100 for a board lot. (Hong Kong Economic Times A2)

Chun Wo Development (711 HK) booked turnover of HK$1.226 billion for the 6 months ended 30 Sep, up 3 per cent yoy. Net profit fell 82 per cent yoy to HK$5.61 million. EPS was 0.61 HK cent. No interim dividend was declared. The company recorded a loss of HK$18.2 million from the disposal of worker quarters under construction in progress for property developments in Abu Dhabi, UAE. (Hong Kong Economic Journal P16)

Fairwood Holdings (52 HK) posted a net profit of HK$70.7 million for the first half ended Sep 30, leaping 43.4 per cent. Revenue in the period rose 4.4 per cent to HK$811 million. Earnings per share amounted to 56.25 HK cents. An interim dividend of 20 HK cents per share and a special one of 8 HK cents apiece were declared. (SingTao Daily B4)

Forefront Group (885 HK) proposes, after reorganization, to implement a rights issue on the basis of 8 rights shares for every adjusted share held at HK$0.125 a rights share, whereby raising HK$406 million by issuing 3.25 billion- 4.1 billion shares. (Hong Kong Economic Journal P8)

Kingworld Medicines Group (1110 HK) shares closed at HK$2.05 yesterday, 28.1 per cent higher than the offer price of HK$1.6 a share. Not taking charges into account, holding a lot generated a paper gain of HK$1800. (Hong Kong Economic Times A2)

Media Chinese International (685 HK) had a net profit of US$27.33 million, surging over 86 per cent. An interim dividend of 0.8 US cent per share was proposed, leaping over 77 per cent year on year. (SingTao Daily B4)

Mingfa Group (International) (846 HK) will issue convertible bonds in the aggregate principal amount of around HK$1.55 billion due 2015 to private equity Warburg Pincus to raise around HK$1.547 billion. The bonds are convertible into shares at HK$2.9 a share, a 16.47 per cent premium to yesterday’s closing price. (Hong Kong Economic Journal P16)

OP Financial Investments (1140 HK) suffered a loss of HK$137 million for the six months ended Sep 30, sinking into the red. No interim dividend was recommended. (SingTao Daily B4)

Pacific Textiles (1382 HK) booked a net profit of HK$453.42 million for the six-month period ended Sep 30, rising 16.7 per cent. An interim dividend of 14 HK cents was proposed. (SingTao Daily B4)

Sihuan Pharmaceutical’s (460 HK) wholly-owned subsidiary Sun Moral has conditionally agreed to purchase from JSAB Investment the entire equity interest in Dupromise Holdings. Total consideration is based on the 2011 audited net income multiplied by 12, being no more than 2.4 billion yuan. (Hong Kong Economic Journal P4)

Suga International (912 HK) recorded a net profit of HK$40.5 million for the six-month period ended Sep 30, soaring 61.2 per cent year on year. An interim dividend of 5 HK cents per share was recommended, leaping 25 per cent over the same period last year. (SingTao Daily B4)

Tai Cheung Holdings (88 HK) saw interim net surging 111 per cent to HK$389.3 million ended Sep 30. An interim dividend of 11 HK cents per share was distributed, unchanged from the previous year. (SingTao Daily B4)

TPV Technology (903 HK) recorded Q3 net profit of US$31.96 million, down 19.1 per cent yoy, down 20 per cent qoq. Revenue amounted to US$2.95 billion, up 30.4 per cent yoy, down 3.7 per cent qoq. GP margin was 5 per cent, down 0.3pps yoy, down 0.2pps qoq. (Hong Kong Economic Journal P12)

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