Belle International (1880 HK) announced that its same store sales for the first quarter 2011 recorded an increase of 22 percent, contrasted with the17 percent –18 percent for the corresponding period last year. (Hong Kong Economic Journal P6)
Central China Real Estate (832 HK) proposed rights issue on the basis of 21.4 rights shares for every 100 shares at HK$1.71 each. The expected proceeds will be at most HK$740 million. (Hong Kong Economic Times A12)
China CITIC Bank (998 HK) announces that Tian Guoli has been appointed as a non-executive director and Chang Zhenming has resigned as a non-executive director due to work reallocation. (SingTao Daily B2)
China Southern Airlines (1055 HK) will raise fuel surcharges due to the rising costs of jet fuel, the third hike this year. The surcharges will increase to 27 percent and 30 percent for long-distance and short-distance flights respectively. (Hong Kong Economic Times A12)
COL Capital (383 HK) will sell its 27.65% stake in APAC Resources to Allied Overseas for a total consideration of HK$1,330,657,693. (SingTao Daily B2)
CST Mining Group (985 HK) announces that Snowden has prepared an updated resource estimate for its Marcona project. The new Mineral Resource Estimate represents an increase of 5.0% in the global contained copper above a 0.3% CuT cut-off from the previous Snowden October 2008 Mineral Resource Estimate. (SingTao Daily B2)
Gome (493 HK) announced it recorded a 16 percent sales growth and 66 percent profit increase for the first quarter 2011, exceeding market expectations. (Hong Kong Economic Journal P6)
The market value (5 HK) for the issue of new shares under the scrip dividend alternative is US$10.2077 for each new share. (SingTao Daily B2)
Le Saunda (738 HK) announced that for the year ended 28 February 2011, the company’s net profit witnessed an annual growth of 37 percent to HK$170 million. The company is expanding men shoes business. (Hong Kong Economic Journal P11)
Lenovo (992 HK) announced that the net profit for the last year amounted to US$273 million, or 1.1x increase year-on-year. The fourth quarter for the fiscal year increased by 2.23x, outperforming market expectations. (Hong Kong Economic Journal P6)
Minmetals Resources (1208 HK) disposed of its entire interest of 37.27 million shares in Equinox at an aggregate consideration of approximately C$303.8 million and at a price of C$8.15 per Equinox share. This disposal will raise around C$150.4 million (approximately HK$1.17 billion). (Hong Kong Economic Journal P6)
Neo Telemedia (8167 HK) has entered into a cooperation agreement with A.T. Hudson, with an initial term of three years, to offer consumer electronics products and telecom related services to the retail consumers and small and medium-size business customers in the PRC. (SingTao Daily B2)
South China Holdings (265 HK) has entered into a MOU with Zhong Jie Holdings in relation to a possible acquisition of satellite businesses. The consideration for the acquisition is estimated to be between HK$800 million to HK$1 billion. (SingTao Daily B2)
The SFC has recently completed an enquiry into the shareholding of Tanrich Financial (812 HK). The findings suggested that, as at 12 May 2011, only 8.60% of its issued shares were held by the public. (SingTao Daily B2)
Waytung Global Group (21 HK) proposes to raise around HK$154.6 million by way of a rights issue at a price of HK$0.40 per rights share on the basis of 1 rights share for every 2 existing shares. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
