AV Concept Holdings (595 HK) booked profit attributable to its owners of HK$122.4m for the year ended 31 March 2011. A final dividend of HK4 cents per ordinary share was proposed. (SingTao Daily B5)
Burwill Holdings (24 HK) has exercised a call option to further acquire new shares of Tai Xin Minerals at a consideration of HK$259,000,000. Accordingly, its shareholding interest in Tai Xin Minerals will then be increased from 51% to about 70%. (SingTao Daily B4)
China New Town Development (1278 HK) has entered into a fixed assets loan agreement with China Minsheng Banking (Shanghai Branch) for the development of Lake Malaren Silicon Valley Project in its Shanghai Luodian New Town Project. The interest rate of the RMB 600 million 5-yr loan is currently at 7.98% per annum (20% on top of the PBOC 5-year benchmark rate). (SingTao Daily B4)
China Telecom (728 HK) has saw its number of 3G service subscribers increase by 1.83 million for May 2011, outperforming that of 1.738 million for China Unicom (0762). This is the first time for China Telecom to exceed the performance of China Unicom since the company released the subscription results of 3G services in early 2011. (Hong Kong Economic Times A12)
China Windpower Group (182 HK) is planning its tower tube manufacturing business, Tianhe, for a further separate listing, allowing it to develop solar-energy equipment manufacturing. (Hong Kong Economic Journal P9)
Galaxy Entertainment Group (27 HK) notes that it has been confirmed that Permira Advisers LLP did not enter into any business consultancy activities concerning the sell of equity interests in Galaxy Entertainment nor did the fund has any intention of selling its shares in Galaxy Entertainment. (Hong Kong Economic Times A12)
Lifestyle International (1212 HK) plans to sell 90 percent of equity interests in Shenyang Jiajian Property Development Company Limited at a consideration of RMB540 million. The principal asset of Shenyang Jiajian is the commercial-used property situated in Shenhe District, Shenyang, PRC. (Hong Kong Economic Journal P9)
Simsen International Corporation (993 HK) says it is expected that its results for the year ended 30 April 2011 may record a significant turnaround as compared with a loss in the corresponding period in 2010, principally attributable to the turnaround of its core businesses and the gain on disposal of a property in HK. The unaudited net profit for the period may reach around HK$80 million. (SingTao Daily B4)
Sinotrans Limited (598 HK) has entered into shipbuilding contracts regarding the construction of two container ships for a total consideration of approximately HK$280,242,000. (SingTao Daily B4)
Tech Pro Technology Development Ltd. (3823 HK) agreed to buy the whole equity interests in Sandtac Limited at a consideration HK$220 million. (Hong Kong Economic Journal P6)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
