Chen Hsong (57 HK) announced that for the year ended 31 March 2011, the company recorded a net profit up to HK$343 million, or up 124 percent year-on-year. (Hong Kong Economic Journal P9)
Dickson Concepts (113 HK) announced that for the year ended 31 March 2011, the company’s net profit amounted to HK$350 million, or up15 percent, while its revenue went down by 6.3 percent to HK$3,404 million. A final dividend of HK 20 cents per share was announced. (Hong Kong Economic Times A12)
Hang Ten Group Holdings (448 HK) registered profit attributable to shareholders of HK$239 million for year ended 31 March 2011, increased by over 69%. (SingTao Daily B2)
Industrial and Commercial Bank of China (ICBC) (1398 HK) plans to issue 15-year and 20-year, RMB38 billion subordinated bonds next week. The initial new issue sizes will be RMB25 billion and RMB13 billion respectively. The bank hopes to improve its capital adequacy ratio through this issue. (Hong Kong Economic Journal P6)
Kith Holdings (1201 HK) proposes to spin off Megalogic Technology and, prior to the proposed spin-off, a reorganisation will be carried out pursuant to which Megalogic will become the holding company of Minilogic. (SingTao Daily B2)
Encana Corp. (857 HK) announced that its joint venture with PetroChina for the development of shale gas projects has been called off for both sides failed to reach an agreement concerning the negotiation of operation and asset valuation. (Hong Kong Economic Times A12)
Pico Far East (752 HK) announced for the six months ended 30 April 2011, the company’s revenue amounted to HK$1,394 million, or down 4.5 percent year-on-year. The company will provide more services in the second half of 2011 including 2011 Formula 1 Night Race - Singapore Grand Prix and Cotai Strip. Revenue is expected to exceed last year. (Hong Kong Economic Journal P9)
Sihuan Pharmaceutical Holdings (460 HK) plans to acquire a target company holding Vinise Pharmaceutical and Hainan Litzman Pharmaceutical at a consideration of RMB775,000,000. (SingTao Daily B2)
Sino Golf Holdings (361 HK) is informed by a controlling shareholder and its chairman Chu Chun Man, Augustine that they are in preliminary discussion with an independent third party involving, inter alia, a disposal of their shareholding interests in Sino Golf Holdings which, if materialised, may lead to a change in control, a possible associated group reorganisation, a possible issue of new shares and a mandatory unconditional general offer. (SingTao Daily B2)
West China Cement (2233 HK) announces that its subsidiary Yaobai and Yangshanzhuang Cement have entered into a JV agreement to establish a JV company. Yaobai has agreed to inject RMB 530,000,000 to the JV company. Upon completion, the JV company will be owned as to 80% by Yaobai. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
