Aluminum Corporation (2600 HK) announced, with Guangxi Nonferrous Metals, they planned to form a joint venture for development of RE resources in Guangxi in an effort of 3 to 5 kinds of RE resources development within five to ten years from now. (Hong Kong Economic Journal P6)
Market sources say Asia Cement (China) Holdings (743 HK) plans to issue not more than US$402.5 million zero-coupon CBs via Goldman Sachs. (SingTao Daily B3)
Birmingham (2309 HK) announced it purchases 90% of equities of a piece of land (approximately 967388 square meters) to be developed in Liaoning province at a price of no less than 502 million yuan and no more than 1.552 billion yuan. (Hong Kong Economic Journal P6)
BOC Hong Kong (2388 HK) says Lam Yim Nam, Deputy Chief Executive of the group, will retire with effect from 1 Apr 2011. Yeung Jason Chi Wai will take his place, overseeing the Personal Banking and Product Management, Channel Management and BOC Credit Card (International) Limited. (SingTao Daily B3)
Cathay Pacific Airways (293 HK) appoints Ivan Chu to be its director and chief operating officer with effect from 31 Mar 2011. (SingTao Daily B3)
China CITIC Bank (998 HK) estimates that its 2010 net profit to increase by over 50 per cent. Under the International Financial Reporting Standards, its 2009 net profit was 14.319 billion yuan. (SingTao Daily B2)
China Unicom (762 HK) lifts dealers with outstanding ratings read as “hold”, “outperform” and “overweight” by Deutsche Bank, Credit Suisse and Morgan Stanley respectively.
(Hong Kong Economic Times A3)
Chinese Estates Holdings (127 HK) has agreed to subscribe Kaisa Group (1638)’s bonds in the aggregate principal amount of 2 billion yuan to be settled in US dollars. The bonds will bear interest at a rate of 8.5 per cent pa. (SingTao Daily B4)
Fosun International (656 HK) cast 2.55 billion yuan, or 3.5 yuan per share to purchase H shares of Shanghai Forte, and suggested the listed state of Shanghai Forte hindering finance and fund injection. (Hong Kong Economic Times A12)
Guangzhou R&F (2777 HK) and KWG cast 1.014 billion yuan on the purchase of the remaining 30 per cent of equities of Shanghai Chengtou Corporation. They both spent 507 million yuan respectively on this project. (Hong Kong Economic Journal P12)
Mascotte Holdings (136 HK) has agreed to purchase 50.1 per cent of the issued shares of the Trifecta International for US$150 million. It proposes to raise HK$2.8 billion by placing 354 million subscription shares, 3 billion placing shares and 3.2 billion conversion shares. (SingTao Daily B3)
Pacific Andes (1174 HK) announced its profits achieved at 11,471 million yuan, up 1.8 per cent from 28 Sept. till the end of last year, and its fishing and processing & distribution department were rated as good performance in revenue. (Hong Kong Economic Journal P6)
Pacific Plywood (767 HK) expects its last year’s results to return to the black. It says that the positive turnaround is mainly attributable to a gain on disposal of its subsidiaries. (SingTao Daily B2)
Sihuan Pharmaceutical Holdings (460 HK) has agreed to acquire 80 per cent equity interest in Changchun Xiangtong Pharmaceutical at 140 million yuan. (SingTao Daily B3)
Yue Yuen (551 HK) announced its net profit gains 3.2 per cent to the value at $480 million, or 29.08 cents earned per share, final dividends sent at 56 cents, one cent higher than those of the same period last year. The whole-year dividends were sent at 90 cents. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
