Monday, January 3, 2011

Hong Kong Stock Market Wrap December 21st, 2010

Addchance Holdings (3344 HK) announces that Herojoy Trading has sold an aggregate of 20 million shares to J.P. Morgan Securities, Ajia Partners Asset Management and Sky Glory Investments at HK$1.238 per share. Herojoy Trading is owned as to 50 per cent, 40 per cent and 10 per cent respectively by executive directors Wong Chiu Hong, Mok Pui Mei and Ip Siu Lam. (SingTao Daily B4)

Share prices of watch industry perform well this year and Asia Commercial (104 HK) is the most outstanding one. It is optimistic towards the industry’s prospect and plans to set up the world’s largest watch retail shop with gross floor area of 30 thousand sq. m. (Hong Kong Economic Journal P8)

China Animal Healthcare (940 HK) listed in HK yesterday by way of introduction and closed at HK$2.36, opposite to the trend of Heng Seng Index. The trade volume was HK$22.43 million. (Hong Kong Economic Journal P4)

China Everbright (257 HK) announces its subsidiary Everbright Environmental Energy (Suzhou) has entered into a supplemental agreement with City Municipal Authority in Suzhou to develop the third phrase of Suzhou garbage power plant project. The estimated total investment is 66 million yuan. (Hong Kong Economic Journal P6)

China Green (904 HK) posted net profit of 284 million yuan for the 6 months ended 31 Oct, up 1 per cent. EPS was 32 fen. An interim dividend of HK$0.09 per share was declared. (SingTao Daily B4)

China Merchants (133 HK) China Direct Investments will make a cash injection of 120 million yuan into the capital of China Business Network (上海第一財經傳媒). It will then hold 5 per cent equity interests in the enlarged capital of the latter. (SingTao Daily B4)

Hong Kong stock market fluctuates recently, but shares of petroleum and coal were hot yesterday. China Shenhua (1088 HK) rose 3.69 per cent and closed at HK$32.3. (Hong Kong Economic Journal P2)

Capital Group (3618 HK), a US investment management firm, bought almost 159 million shares in Chongqing Rural Commercial Bank last Thu. The amount represents 7.26 per cent of the share capital of the bank’s H shares. (SingTao Daily B4)

Chuang’s China Investments (298 HK) sells a real estate project at Xingsha Town, Changsha to independent third parties at 526 million yuan. The deal will generate a net gain of 340 million yuan for Chuang’s China. (SingTao Daily B4)

COSCO International (517 HK) disposed Sino-Ocean Land (3377) shares at a premium of 16.85 per cent last week, one of the buyers was confirmed Chen Din-hwa, chairman of Nan Fung Group. Chen Din-hwa bought about 70 per cent of the shares disposed by COSCO International with HK$3.7 billion, becoming the second large shareholder of Sino-Ocean Land. (Hong Kong Economic Journal P12)

Huadian Power (1071 HK) announces it will increase its capital in Huadian Finance by 500 million yuan to reduce the finance costs. It will contribute a sum of about 500 million yuan at a subscription rate of 1.2 yuan for each 1 yuan registered capital. (Hong Kong Economic Times A9)

Dynamic Energy Holdings (578 HK) terminates a disposal of coal mines as the HKEx has expressed concerns that the info provided did not adequately address whether it has sufficient operation upon completion of the deal and a prolonged suspension of trading in shares is not in the interests of the company and its shareholders as a whole. (SingTao Daily B4)

GZI (1052 HK) Transport acquires Changzhu Expressway at 1.134 billion yuan, a discount of around 6 per cent to the appraised value. (SingTao Daily B4)

HSBC (5 HK) announces the selling 80.1 per cent of its global real estate and infrastructure private equity fund management business to the top management of the business. (Hong Kong Economic Journal P8)

Kerry Properties, Shangri-La Asia (0069) and WCA Pte. have jointly won bids for sites in Yingkou City, Liaoning Province at a consideration of 240 million yuan. Maximum total investment amount will be 2.569 billion yuan. (SingTao Daily B4)

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