Alltronics Holdings (833 HK) expects 2010 net profit to increase at least 50 per cent on an increase in sales revenue and improved gross profit margins for products sold. (SingTao Daily B4)
Asian Citrus Holdings (73 HK) was notified on Tue that 2 subsidiaries of Temasek Holdings have subscribed for 61.126 million and 4 million new shares respectively, 5.37 per cent in total of the company's issued share capital. (SingTao Daily B4)
China COSCO (1919 HK) announces that the company is expected to have a significant growth in results and record a net profit last year, as compared to a net loss for 2009, due to the sustained recovery of the world economy and the regain of growth momentum in the shipping market. (Hong Kong Economic Journal P.7)
CQRC Bank (3618 HK) announces that the over-allotment option in respect of an aggregate of 327.8 million H Shares, representing approximately 15 per cent of the offer shares initially available under the global offering before any exercise of the over-allotment option, has been fully exercised yesterday. (Hong Kong Economic Times A10)
Country Garden (2007 HK) announces the amendment and restatement of equity swap agreement with Merill Lynch. After the amendments, the final termination date will be 22 February 2013 and the company has the right to terminate the agreement on any day before the final termination date. (Hong Kong Economic Journal P.9)
Easyknit Enterprises (616 HK) proposes a rights issue at HK$0.35 per rights share on the basis of 1 rights share for every 2 shares to raise HK$64.2 million. (SingTao Daily B4)
Glorious Property (845 HK) announces that contracted sales last year amounted to 12.68 billion yuan, representing yoy growth of 89.1 per cent, which was not up to the target of 15 billion yuan set at the beginning of the year. (Hong Kong Economic Times A10)
Henderson (12 HK) sold about 80 apartments in Beverly Hills and Légende Royale, both located in Tai Po, last year for HK$2.2 billion. The company plans to raise the prices of the apartments with 3000-4000 sq.m. by 5-7 per cent shortly. (Hong Kong Economic Journal P.9)
Huaneng International (902 HK) announces that it would acquire 100 per cent shareholding in a hydropower project located at Suzihe River, Liaoning for 50 million yuan. The project, with a planned hydropower capacity of 37.5 MW, is under construction and expected to commence operation by the end of 2011. (Hong Kong Economic Journal P.7)
Kerry Properties (683 HK) and Shangri-la jointly announce that they, together with WCA Pte. Limited listed in Singapore, have won the land bids at the public biddings to acquire the land use rights of the Project Sites in Liaoning Province at 1.357 billion yuan. The shareholdings of Kerry Properties, Shangri-la and WPL will be 40per cent, 25per cent and 35per cent respectively.
(Hong Kong Economic Journal P.9)
Lee & Man (746 HK) expects to book a substantial rise in profit for 2010. It also proposes to spin off its handbag business by distributing in specie to existing shareholders and has submitted a proposal to the exchange. (SingTao Daily B4)
RCG Holdings (802 HK) has agreed to allot and issue to an independent third party Stanley Chan Pan Chen 6.45 million new shares at HK$3.1 a share, raising almost HK$20 million to fund research and development activities. (SingTao Daily B5)
SIM Technology Group (2000 HK) has obtained the required approvals in relation to an offering and listing of TDRs. The tentative offer price for each TDR is around HK$1.48 per share. (SingTao Daily B4)
SOHO China (410 HK) posted contract sales of about 5.5 billion yuan in Q410. 2010 contract sales was around 23.8 billion yuan, a yoy growth of 82 per cent. (SingTao Daily B4)
Solartech International (1166 HK) has entered into a MOU, planning to acquire rare earth mining rights in Mongolia. The company plans to buy mining and exploration licences in respect of certain rare earth mining sites in Sondiin Am, Bayantsagaan soum, Tov province, Mongolia. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
