BYD Electronic (International) (285 HK) plans to purchase the lens business from Huizhou Electronic, a wholly owned subsidiary of BYD, at a consideration of RMB55,430,706. (SingTao Daily B4)
China Railway (390 HK) proposed to issue dedicated private debt financing instruments of an amount at most RMB10 billion. The term of dedicated instruments will not exceed 15 years. (Sing Tao Daily B4)
China Resources Enterprise (291 HK) entered into two facility agreements yesterday with two banks respectively for term loan facilities in the aggregate amount of HK$700,000,000. The terms of the loan facilities are both three years. (SingTao Daily B4)
Convenience Retail Asia (8052 HK) discloses that a controlling shareholder placed 35.9 million shares to independent third parties at HK$3.70 per share yesterday. (SingTao Daily B4)
Total revenue of I.T Limited (999 HK) increased by 28.0% to HK$3,834.4 million for the year ended 28 February 2011. Profit for the year surged 47.8% to HK$388.1 million. Basic earnings per share gained 43.5% to HK33 cents. Final Dividend of HK10.4 cents per share is proposed. (Hong Kong Economic Times A13)
Media Chinese International (685 HK) announced that for the year ended 31 March 2011, the company’s net profit amounted to around US$54.83 million, or up 33 percent against that of last year. (Sing Tao Daily B4)
Tech Pro Technology Development (3823 HK) has entered into a MOU, planning to acquire a business that engaged in the research and production of semi-conductor parts and accessories of lamps; and manufacturing, assembling and processing of LED lightings in the PRC. The consideration will be no more than HK$260 million. (Hong Kong Economic Journal 22)
Towngas China (1083 HK) plans to spend HK$1 billion on its major new projects for development in Hunan Province, Guangxi Province, Yunan Province and Guizhou Province, PRC. The company will build new natural gas pipelines there for further expansion of business in Mainland China. (Sing Tao Daily B3)
Zijin Mining (2899 HK) plans to issue an additional five ordinary shares for each ten ordinary shares held by the shareholders of the company. (Sing Tao Daily B4)
ZTE Corporation (763 HK) plans to dispose of its over 5.5 million shares in Nationz Technologies. Net investment gains before income tax generated from the sale are expected to reach around RMB95 million. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
