Bank of China (3988 HK) announces the launch of yuan exchange and transaction services in the US regions, marking the first Chinese bank offering such services within the US. Analysts regards it a significant step for the internationalization of yuan. (Sing Tao Daily B2)
Cash Financial (510 HK) announced yesterday that Pricerite, a wholly-owned subsidiary of the company engaged in retail business, has appointed a sponsor in relation to the spin-off of Pricerite for a separate listing. (Sing Tao Daily B3)
Cathay Pacific increased its holdings in Air China (753) by 3.246 million shares at HK$8.938 per share this Monday, with total consideration of HK$29 million. (Sing Tao Daily B3)
China Overseas Land & Investment (688 HK) recorded Dec contracted sales of 8.39 billion, up 55.9 per cent mom. Full-yr contracted sales reached 67.11 billion, surging 40.4 per cent yoy, with sales area of 5.302 million sqm, up 11.2 per cent yoy. (Hong Kong Economic Times A10)
China Timber Resources Group (269 HK) issues 2.38 billion new shares at HK$0.3 per share, almost 19 per cent discount to the HK$0.37 prior to suspension of trading in shares, to raise about 714 million. (Hong Kong Economic Journal P2)
Fantasia Holdings (1777 HK) Group posted contracted sales of 3.89 billion last year. The company bought 2 sites in Nanjing and Wuxi in Dec for 280 million and 70 million respectively. As of 31 Dec, its land reserves totalled 13.93 million sqm. (Hong Kong Economic Times A10)
HSBC (5 HK) announced yesterday that it had issued 19,637,010 shares to shareholders who elected to receive the scrip dividend alternative for the third interim dividend for 2010. Dealings of those new shares were expected to commence yesterday. (Sing Tao Daily B3)
Newtree Group (1323 HK) ended at HK$1.96 in the gray market yesterday, 0.51 per cent higher than the IPO price of HK$1.95. Holding a lot of 2000 shares generated a paper gain of HK$20. (Hong Kong Economic Journal P6)
Nine Dragons Paper (2689 HK) announces the acquisition of 78.13 per cent equity interest in Hebei Yongxin Paper from Wing Fat, a subsidiary of Shanghai Industrial (363), for the consideration of 564 million yuan. (Sing Tao Daily B3)
RCG Holdings (802 HK) announces the acquisition of 6.1 per cent equity interest in Spartan Gold from Avalon for HK$50.7 million which will be financed by issuing 15.6 million new shares. (Sing Tao Daily B3)
Renhe (1387 HK) announced yesterday that it had intention to purchase the entire issued share capital of 無錫招商城有限公司(Wuxi Zhaoshangcheng Co., Ltd.) at the total consideration of 2.6 billion yuan. (Sing Tao Daily B3)
TCL Multimedia Technology (1070 HK) saw Dec LCD TV sales go down 19.1 per cent yoy to 990000 units, among which around 26.5 per cent was LED backlight TVs. Full-yr sales hit 7.46 million units. (Hong Kong Economic Times A10)
Zhuzhou CSR Times Electric (3898 HK), Regent Pacific (575) and Comtec (712) issued positive profit alerts yesterday. The first two companies expected their full-year profit ended 31 Dec 2010 would be far more than 2009, while Comtec announced its revenue for 3 months ended 31 Dec 2010 would be no less than 300 million yuan. (Sing Tao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
