IPO: Market sources say EuroSibEnergy will kick off roadshow early in Mar to raise around US$1 billion to 1.5 billion. VTB is one of the global coordinators to the issue. (SingTao Daily B3)
IPO: Hutchison Port Holdings Trust kicked off roadshow yesterday, aiming to raise almost HK$50 billion. Deutsche Bank and Goldman Sachs are underwriters to the IPO. (SingTao Daily B1)
The bleak situation lingered in January for BYD Company Limited (“BYD”) (1211 HK). BYD’s automobile sales in Jan only amounted to 52,000, down by 15 per cent over the same period last year. BYD projected sales volume of 620,000, or up 20 percent for this year. (Hong Kong Economic Journal P6)
China SCE Property Holdings (1966 HK) announced yesterday that its Jan contracted sales rose 9.6 times yoy to 650 million yuan. (SingTao Daily B4)
According to reports from CCTV, CNOOC (883 HK) plans to spend 350 billion yuan in the coming 5 years for the company’s offshore oil exploration and production, over 20 billion yuan of which will be used for constructing deep-water equipments. (Hong Kong Economic Journal P6)
When People’s Bank of China increased interest rates coupled with tightening monetary policies, markets began to concern about property prospect. Evergrande Real Estate (3333 HK) denied issuing bonds. The company’s current debt ratio reads approximately 31 percent and it intends to maintain the debt ratio within 40 percent this year. (Hong Kong Economic Times A10)
Guoco Group Limited (53 HK) announced interim results for the six months ended 31 December 2010. Although the company’s revenue dipped, profit attributable to shareholders of the company totalled HK$3842 million, or up by 261 per cent for the six months ended 31 December 2010. The company’s interim dividend per share was HK$1.00, up by 25 per cent over that in 2009. (Hong Kong Economic Times A9)
Hengli Properties Development's (169 HK) subsidiary Fujian Zhonglu Real Estate has entered into a long-term lease agreement with a leading retail department store group listed on the Shanghai Stock Exchange. It will lease the commercial podium of Hengli City to the group. (SingTao Daily B2)
Hua Xia Healthcare (8143 HK) booked net profit of HK$44 million for the 9 months ended 31 Dec 2010. EPS amounted to 4.46 HK cents. (SingTao Daily B2)
Husky Energy under Hutchison Whampoa (13 HK) earned C$305 million in Q4, down 5 per cent. Full-yr profit dropped 17 per cent. (SingTao Daily B2)
Kaisa Group (1638 HK) announces that its full-year contracted sales target to be 15 billion yuan, up 50 per cent yoy. (SingTao Daily B4)
Lam Soon (Hong Kong) Limited (411 HK) announced interim financial results. The company’s interim net profit attributable to shareholders was HK$62.81 million, or down by 12.1 per cent on a year-on-year basis. Turnover was HK$1,288 million representing 15 per cent growth when compared with the previous corresponding period. (Hong Kong Economic Journal P6)
Manulife Financial Corporation (945 HK) joined China’s insurance and asset management with the country’s swelling demand. The company also hopes to explore pension and annuity market in Mainland China as well. Robert A. Cook, Senior Executive Vice President and General Manager, Asia for Manulife, noted yesterday that the company has covered businesses in 46 cities in Mainland China, most of which are located on the east coast. Mid and western cities such as Chong Qing hold multiple business opportunities. (Hong Kong Economic Journal P6)
MIE Holdings Corporation (1555 HK) intends to acquire an oil and gas project in Kazakhstan for US$170 million. It has entered into an agreement with BMB Munia. Shares of MIE Holdings went down 5.4 per cent yesterday. (SingTao Daily B3)
The Bank of East Asia (“BEA”) (23 HK) was pleased to announce that the net profit of BEA in 2010 surged by 62.2 per cent to HK$4224 million, exceeding the peak in 2007, and created a historical high, which was far better over market expectations. The effect on banks’ capital brought by Basel capital accord III remained unclear; BEA lowered its dividend payout ratio last year on annual basis. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
