Bauhaus International (483 HK) announced that for the year ended 31 March 2011, the company’s net profit increased by around 39.2 percent to HK$116 million. The total turnover increased by 27.5 percent to HK$1.01 billion. (Hong Kong Economic Times A10)
Beijing Jingkelong (814 HK) will temporarily withhold 20% of the final dividends to be distributed to individual H shareholders. The final dividend per H share after deduction of individual income tax for individual H shareholders is around HK$0.1919896. (SingTao Daily B3)
Chu Kong Shipping Development Company (560 HK) and its parent company Chu Kong Shipping Enterprises have entered into a management agreement. The former will provide management services to part of the businesses of the latter for a term of 3 years commencing from 1 July 2011. (SingTao Daily B3)
China CITIC Bank (998 HK) announces that its applications in respect of an A share rights issue and H share rights issue have been approved by the CSRC. The bank will publish a separate announcement on the formal launch and other details of the H share rights issue in due course. (SingTao Daily B3)
Dalian Port (PDA) (2880 HK) has entered into an investment agreement with its controlling shareholder PDA for an establishment of Dalian Port Finance Company in Dalian. The total registered capital is proposed to be RMB500,000,000, out of which 40% shall be contributed by Dalian Port (PDA) (i.e.,RMB200,000,000) and 60% shall be contributed by PDA (i.e.,RMB300,000,000). (SingTao Daily B4)
Gome (493 HK) said that it filed a lawsuit against its former chairman Chen Xiao for breach of agreement in Beijing in order to protect the company’s reputation. Gome points out that Chen Xiao broke the agreement by offering “false and misleading company information to a financial newspaper” that damage the company’s reputation and impair its business operations. (Hong Kong Economic Times A10)
Imagi International (585 HK) announced that for the year ended 31 March 2011, the company recorded a loss of HK$624 million, contrasted with the loss of HK$1,368 million last year. This loss is mainly due to redemption loss of convertible loan notes, a print and advertising loan and a bridge loan. (Hong Kong Economic Times A11)
Kenford (464 HK) announced that its net profit for 2011 amounted to HK$65.65 million, up 22.6 percent. A final and special dividend of HK4 cents per share was declared. (Hong Kong Economic Journal P9)
Mongolia Energy (276 HK) has been in discussion with an independent third party relating to a possible co-operation for developing its concession areas in Mongolia other than the Khushuut Coking Coal Project. The independent third party may subscribe its new shares. (SingTao Daily B3)
PetroChina (857 HK) and Royal Dutch Shell agreed to set up a joint venture for the development of an innovative and highly automated well manufacturing system that improves the efficiency of the company’s drilling facilitates. This cooperation agreement is waiting for the approval from both governments. Each of the two companies will hold 50 percent interests in the JV. (Hong Kong Economic Times A11)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
