IPO: Shanghai Jing An Bakery reportedly intends to list in HK in 3 years to raise around 2 billion yuan for business expansion. Shanghai Jin Jiang International Hotels (2006) holds 28 per cent equity interest in the company. (Hong Kong Economic Journal P5)
Brightoil Petroleum (Holdings) (933 HK) has entered into a US$4 billion 5-year strategic co-operation agreement with China Development Bank, HK Branch, whereupon the bank has been granted priority to provide financial services to the group. (Hong Kong Economic Journal P4)
Chevalier International (25 HK) acquires a unit in No 8 Kwai Hei Street, Kwai Chung, with a gross floor area of around 380000 sq ft, for about HK$686.5 million as a cold storage. (SingTao Daily B10)
China Trends Holdings (8171 HK) signs an agreement with Joy China Group to acquire 97 per cent equity interest in Dooda Innovation China at HK$228 million. (SingTao Daily B10)
CLP (2 HK) proposes to pay 4 interim dividends each year, in Jun, Sep, Dec and Mar, instead of 3 interim dividends and a final dividend. The company will be introducing the change as from the 4th interim dividend for 2010, which will be paid on or about 28 Mar 2011. (Hong Kong Economic Times A9)
Honghua Group (196 HK) expects last year’s results may record a continuing loss due to factors such as a reduction in sales and the suspension of Zhenhua project.
(SingTao Daily B10)
Longfor Properties (960 HK) posted 2010 contracted sales of 33.32 billion yuan, jumping 81 per cent yoy, 34.4 per cent higher than full-year target. (Hong Kong Economic Times A4)
Allian SE announces via an email that it has bought the shares of China Pacific Insurance (2601 HK) sold by Carlyle Group, involving an amount of about US$855 million (approximately HK$6.6 billion). (Sing Tao Daily B16)
Chun Wo Development (711 HK) announces that the Chun Wo-CRGL-MBEC Joint Venture, a collaboration between the company, China Railway Group and China Major Bridge Engineering, has secured a project valued at HK$4 billion for the Central-Wan Chai Bypass Tunnel (North Point Section). (Hong Kong Economic Times A12)
Several big banks in the UK decided to distribute huge bonuses to the management regardless political and public pressure, but HSBC (5 HK) and other four banks will undertake to increase loans and bonus disclosures. (Hong Kong Economic Journal P1)
Kaisa Group’s (1638 HK) property sales last year amounted to 10.1 billion yuan, representing a yoy increase of 68 per cent. Area sold was 875 thousand sq. m., up 27 per cent. Price per meter was 11.5 thousand yuan, up 32 per cent. (Hong Kong Economic Journal P12)
Newtree Group (1323 HK) floats shares on this Thursday. Its CEO Chum Hon Sing says that the company plans to explore the domestic market, with Beijing as the starting point. When selling products in the domestic market, prices will not be lower than selling in Europe and the US. (Sing Tao Daily P13)
PetroAsian Energy (850 HK) announces that it has entered into a petroleum product trading agreement with an independent third party who will purchase petroleum product from the group for about HK$4 billion. (Sing Tao Daily B15)
Rainbow Brothers (33 HK) announces that Mr. Ng Chi Man has tendered his resignation as a vice-chairman, executive director and chief executive officer of the company, with effect from January 10, 2011, to pursue his person goals in life. (Sing Tao Daily B15)
Wharf Holdings (4 HK) announced yesterday that it had won the bid for two land parcels in Suzhou with consideration of 2.91 billion yuan. The land parcels, with total site area of 232.4 thousand sq. m., will be used to develop high-end residential properties. (Sing Tao Daily B15)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
