Friday, January 7, 2011

Hong Kong Stock Market Wrap January 6th, 2011

Agile Property (3383 HK) posted Dec contracted sales of 6.9 billion yuan and full-yr sales of 32.3 billion yuan, up 61 per cent. (SingTao Daily B3)

Agricultural Bank (1288 HK) announced yesterday that its board of directors has passed the resolution on the issue of subordinated bonds of not exceeding 50 billion yuan subordinated bonds to raise its capital adequacy ratio. (Hong Kong Economic Times A12)

ASM Pacific’s (522 HK) shareholders approved resolution on the acquisition of SEAS business at the extraordinary general meeting held yesterday. Its shares went up 2 per cent to HK$97.95 yesterday. (Hong Kong Economic Times A10)

Beijing Airport (694 HK) announces that it has received the notice issued by the Department of Finance of the Civil Aviation Administration of China, informing it the policy of the subsidy arrangements will be retained for the period from 1 January 2011 to 31 December 2015. Its shares surged 8 per cent yesterday. (Hong Kong Economic Times A12)

Beijing Capital Land (2868 HK) booked Dec contracted sales of 2 billion yuan and for the full-year 12.5 billion yuan, up 18 per cent yoy. (SingTao Daily B3)

C C Land Holdings (1224 HK) recorded full-yr contracted sales of 5.801 billion yuan, a year on year increase of 2.4 times. (SingTao Daily B3)

China Minsheng Banking (1988 HK) announced yesterday that it plans to issue A shares to specific targets and has applied to suspend trading of its A shares and H shares on 7 Jan. No details of the issue were disclosed. (Hong Kong Economic Journal P4)

Market sources say China SCE Property (1966 HK) plans to issue RMB1b-1.5b yuan-dominated bonds. It is targeting a 5-yr maturity. Coupon rate will be around 10.5-11 per cent. (SingTao Daily B4)

China South City (1668 HK) reportedly plans to issue 5-yr notes with an interest rate of 14.25 per cent to raise US$200 million- 250 billion. (SingTao Daily B3)

Dalian Port (2880 HK) announced yesterday that its board of directors had passed the resolution regarding the offer and issue of domestic corporate bonds with an aggregate principal amount of 2.5 billion yuan to the public in the PRC. The maturity will be 10-20 years. (Hong Kong Economic Times A12)

Easyknit Enterprises (616 HK) announces, again, a right issue. It proposes to raise HK$64.2 million before expenses by way of the rights issue of 184 million shares at a price of HK$0.35 to finance its investments in hotels and serviced apartments projects. (Hong Kong Economic Journal P1)

Heritage International (412 HK) proposes to consolidate every 10 shares into 1 consolidated share and then to conduct a rights issue at HK$0.5 per rights share on the basis of 1 rights share for every 2 adjusted shares to raise around HK$45.9 million. (SingTao Daily B4)

K & P International (675 HK) expects to record a considerable rise in consolidated net profit for the year ended 31 Dec 2010, mainly attributable to an increase in sales revenue and an improved gross profit margins for products sold and a significant drop in operations expenses. (SingTao Daily B2)

A shares of Ping An Insurance (2318 HK) plunged 4.14 per cent to HK$52.59 yesterday for the news on its refinancing plan. Ping An Insurance clarified later that it had no plan to conduct any re-financing exercise in the A shares market. (Hong Kong Economic Times A3)

Last month’s sales of Powerlong Real Estate (1238 HK) reached 1.854 billion yuan. Full-yr sales totalled 6.2 billion yuan, up 1.14x. (SingTao Daily B3)

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