Cheung Kong Infrastructure (1038 HK) and Power Assets have signed agreements to jointly acquire the Meridian Cogeneration Plant in Saskatchewan, Canada from Husky Energy. The net consideration for the 75 per cent additional interest is CAD91.4 million. CKI and Power Assets' effective stake in the plant will increase to 100 per cent after the deal. (SingTao Daily B4)
China XLX Fertiliser (1866 HK) saw net profit rise 21 per cent to 145 million yuan for the year ended 31 December 2010. Gross profit margin went down to 12.8 per cent. Chairman Liu Xing Xu expects the gross profit margin this year will bounce back to over 13 per cent, saying that the rise in coal prices will not last long. (SingTao Daily B4)
Chaoda Modern Agriculture (682 HK) announced its interim results for the six months ended 31 December 2010. The company’s profit for the period attributable for shareholders increased by 13 percent to 1,547 million yuan. The fair value gains on available for sale investment was 580 million yuan, which stood out in this announcement of interim results. (Hong Kong Economic Times A12)
Fosun International (656 HK) Announced that Fosun Pharma, a subsidiary of Fosun International Limited, has proposed listing of H shares on the Hong Kong Stock Exchange. The total number of H shares to be offered is proposed not to exceed 20 percent of Fosun Pharma’s total issued shares after the completion of the Proposed Global Offering. (Hong Kong Economic Times A12)
HSBC Holdings (5 HK) announced its results for the year ended 31 December 2010. The company’s profit attributable for its shareholders reached HK$57,597 million, or an increase of 27 percent on a year-on-year base. HSBC notes that the total profit outside Hong Kong area makes a contribution of 46 percent of the company’s profit for the year. (Hong Kong Economic Journal P4)
Lifestyle International (121 HK) saw net profit increase 23.2 per cent to HK$1,407.5 million for the year ended 31st December 2010. Final dividend of HK cents 19 per share was declared. (SingTao Daily B2)
Mingyuan Medicare Development (233 HK) has agreed to place up to 320,000,000 existing shares at the placing price of HK$0.81 per share to raise around HK$259 million. (SingTao Daily B2)
New World China Land (917 HK) booked revenues of HK$5.928 billion and profit attributable to equity holders of HK$1.508 billion for the six months ended 31st December 2010, jumping 101 and 60 per cent respectively. It have declared an interim dividend of HK$0.03 per share. (SingTao Daily B3)
New World Development Company (17 HK) recorded total revenue of HK$15.076 billion and profit attributable to shareholders amounted to HK$4.353 billion for the six months ended 31 December 2010, up 24 per cent and down 24 per cent respectively. It have declared an interim dividend in scrip form equivalent to HK$0.1 per share. (SingTao Daily B3)
Sound Global Ltd. (967 HK) announced that the comprehensive income of the company saw an annual increase of 3 percent to 289 million yuan for the year ended 31 December 2010, with final dividend at SGD0.01. (Hong Kong Economic Times A12)
Sun Hung Kai Properties Limited (16 HK) announced that the company’s underlying profit for the year 2010, excluding the effect of fair-value changes on investment properties, was HK$10,416 million, with an increase of 60 per cent on a year-on-year basis. (Hong Kong Economic Journal P6)
Market sources said yesterday that Tencent Holdings Limited (700 HK)planned to team up with China Central Television (CCTV) to build Internet TV stations for their TV broadcasting business. (Hong Kong Economic Journal P10)
Top Form (333 HK) intends to expand its business in other places in Southeast Asia, apart from its plants in China and Thailand. According to the company’s interim results for six months ended 31 December 2010, the gross profit margin dropped from 22 percent to 21 percent. Based on speculations on the bleak global market, the company notes that the gross profit margin shall suffer more pressure this year. (Hong Kong Economic Times A12)
Xinyi Glass Holdings’ (868 HK) net profit attributable to the equity holders for the financial year ended 31 December 2010 reached HK$1.57 billion, an increase of around 100 per cent. Earnings per share was 44.43 HK cents. It proposed to declare a final dividend of 13 HK cents per share. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
