Agile Property Holdings (3383 HK) has entered into a facility agreement with the HSBC pursuant to which a term loan facility in the amount of US$100,000,000 has been granted to it for a period of 3 years. (Hong Kong Economic Journal 12)
Alibaba.com (1688 HK) plans to split its e-commerce firm Taobao into three units including Taobao Mall, eTao and Taobao Marketplace to meet various needs from customers. The company notes that it does not exclude any possibility of floating as a “big company”. No timetable is given yet. (SingTao Daily B4)
Hony Capital, the private equity arm of Lenovo Holdings, agreed to subscribe for 150 million new shares in Chinasoft (354 HK). The shares represent around 16 percent of the enlarged issued share capital of Chinasoft. (SingTao Daily B5)
Hua Xia Healthcare Holdings (8143 HK) says the group is expected to record a profit for the year ended 31 March 2011 as compared to a loss for the year ended 31 March 2010. (Hong Kong Economic Journal 29)
Melco Crown Entertainment (200 HK), a 33.36% owned associate of Melco International Development, has announced the acquisition of a 60% equity interest in the developer of Macau Studio City from eSun Holdings. (Hong Kong Economic Times A14)
Oriental City Group (8325 HK) announced that for the year ended 31 March 2011, the company recorded a loss of around HK$3.33 million. The basic losses per shares were around HK0.56 cents. (SingTao Daily B3)
Sa Sa International (178 HK) announced for the year ended 31 March 2011 it read a net profit of HK$509 million, surging 33 percent year-on-year. The Final and special dividends per share was proposed at HK9.5 cents. (SingTao Daily B3)
Shui On Construction (983 HK) and Materials plans to cut its original sales target for 2011 from RMB4 billion to a lower level. The company records at most RMB1 billion in revenue for the recent six months in 2011, falling far short of expectations. The new sales target has yet to be announced. (SingTao Daily B4)
Sunac China Holdings (1918 HK) announces that Sunac Zhidi, Sunac Foundation (its indirect wholly owned subsidiary and a direct wholly-owned subsidiary of Sunac Zhidi), Daye Trust and Oriental Assets have entered into a co-operative agreement for a proposed establishment of a trust scheme by Daye Trust to raise funds with a view to providing funding, through series of steps, to Sunac Foundation for a residential development project at Chang Ping District in Beijing. (Hong Kong Economic Journal 29)
Tradelink Electronic Commerce (536 HK) announces that it has been informed by the government, its substantial shareholder, that it intends to appoint a Financial Advisor-cum-Coordinator to advise it on the strategy to be taken in respect of its 12.3% shareholding in Tradelink Electronic Commerce. The government has explained that this appointment is pursuant to its policy to review from time to time its shareholding in Tradelink Electronic Commerce so as to explore suitable opportunities for reducing its shareholding in the company, having regard to overall market conditions, to uphold the principle of “Big Market, Small Government”. (Hong Kong Economic Journal 8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
