Bank of Communications (3328 HK) will hold shareholders’ meeting on 23 Feb to discuss issuing not more than 20 billion yuan bonds in HK by the end of 2012. (SingTao Daily B2)
Beijing Beida Jade Bird Universal Sci-Tech (8095 HK) forms an information technology fund for a period of 10 years. It contributes in cash 400 million yuan. (SingTao Daily B2)
Mr. Liu Minghui, managing director of China Gas (384 HK), got arrested for his involvement in acquisition of natural gas projects of four cities and one pipeline project in Hubei province. The listing has been suspended since 20 December last year and the company has applied to listing this morning. (Hong Kong Economic Times A9)
Due to the deterioration in market conditions coupled with the fact that the company was not fully subscribed, the company decided no to proceed its global offering. Application lists will not open on February. (Hong Kong Economic Journal P6)
China Netcom Technology (8071 HK) expects that its 2010 annual results will record a significant loss, which is primarily due to possible impairment loss in respect of its noncurrent assets. It, however, points out that no material adverse effect is expected to be imposed on its cash flow. (SingTao Daily B2)
China Power New Energy (735 HK) and China Yangtze Power Co., Ltd has reached an agreement that with approval of shareholders, China Yangtze Power shall subscribe 2.8 billion shares of China Power New Energy. China Power New Energy planned to expand its wind power and garbage power and its financial position was well improved. (Hong Kong Economic Journal P26)
Clear Media’s (100 HK) net profit increased by 4.3x to HK$166 million for the year ended 31 Dec 2010. Basic earnings per share amounted to 31.5 HK cents. No dividend will be paid. (SingTao Daily B2)
CNOOC (883 HK) announces that it will buy a 33.3 per cent stake in Chesapeake's Denver-Julesburg Basin and Powder River Basin oil and natural gas leasehold acres in Colorado and Wyoming for US$570 million. (SingTao Daily B2)
Global Bio-Chem Technology Group (809 HK) expects to record a significant improvement in its 2010 financial results, which is mainly attributable to an improvement in sales and margin of its products. (SingTao Daily B2)
I.T Ltd (999 HK) announced that the company entered into acquisition of approximately 90.27 per cent interest in Japan’s Nowhere Co., Ltd. (Hong Kong Economic Journal P8)
Morning Star Resources (542 HK) says that the expected 2010 results may show a loss, which is mainly due to a write-off of its irrecoverable balances. It, however, believes that the write-off of these irrecoverable balances will not have any significant impact on its operating cash flow. (SingTao Daily B2)
New World Development (17 HK) and NWS Holdings (659) jointly announced that they proposed spin-off iron business for separate listing. NWS Holdings shall hold 55 per cent of interests of Newton Resources Ltd. Newton Resources Ltd will embarked on its separate listing on the main board of the Stock Exchange of Hong Kong Ltd. (Hong Kong Economic Journal P6)
PetroChina (857 HK) announced yesterday that the company planned to offer US$1 billion to establish joint ventures with INEOS Investments International Limited. They planned to engage in trading activities related to the crude oil refining operations in Europe. (Hong Kong Economic Journal P6)
PYI (498 HK) achieved a new high in prices for a year and then announced that the trading in shares of the company in Hong Kong Stock Exchange has been suspended. The company also announced that it planned to sell 50 per cent of interests of Jiangsu Nantong Yangkou Port, valued at 1.5 BILLION YUAN, to a infrastructure investment company held by Rudong local government of Nantong. (Hong Kong Economic Journal P8)
Wing Lee Holdings (876 HK) expects to record a significant increase in 2010 profit, which is primarily due to a rise in turnover from the manufacturing segment and a gain arising from fair value changes of investment properties it held. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
