Cheung Kong Infrastructure Holdings Ltd. (1038 HK) announced for the six months ended June 30, 2011, its net profit increased by 96 percent toHK$3.98 billion. This improvement is lead by profit contributions from UK Power Networks and Seabank Power Ltd. (SingTao Daily B4)
China Green (Holdings) (904 HK) saw profit attributable to equity shareholders gain 20.3pc to RMB458,802,000 for the year ended 30 April 2011. It proposed to declare a final dividend of HK$0.065 per ordinary share. (Hong Kong Economic Journal 9)
China Resources Land (1109 HK) announces that it will issue senior notes in an aggregate principal amount of US$250.0 million, which will bear an interest rate of 4.625% and will mature in 2016. (Hong Kong Economic Journal 10)
China WindPower Group (182 HK) disposes its entire 51pc equity interest in Gansu Guazhou Century Concord Wind Power for a total consideration of HK$594 million. (Hong Kong Economic Journal 28)
Hong Kong Exchanges and Clearing Limited (388 HK) and Jiangsu Province’s Office of Financial Affairs have signed a Memorandum of Understanding (MOU) on cooperation and the exchange of information.
(SingTao Daily B4)
Husky Energy Inc. (Husky) (13 HK), a unit of Hutchison Whampoa, announced that Liwan 3-1 oil/gas field is expected to recover the investment costs in four to five years’ time. Husky inked the Liwan deal with CNOOC Limited (0013) for cooperation in developing resources business. (SingTao Daily B4)
Inspur International (596 HK) says that it is expected that its consolidated profit for the 6 months ended 30 June 2011 will report a drop by 55% to 65% as compared to the profit for the corresponding period last year. (Hong Kong Economic Journal 28)
Ping An Insurance (Group) Company of China (2318 HK) announces that Song Zhijiang has tendered his resignation as a supervisor representing the shareholders of the company’s supervisory committee with effect from this Wednesday due to his work arrangement. (Hong Kong Economic Journal 28)
Vitasoy International (345 HK) plans to acquire 15 percent equity interest in Shenzhen Vitasoy from Guangming at a consideration of RMB61.86 million. This acquisition is expected to help increase Vitasoy International’s shares in China’s soy foods and drinks market. (SingTao Daily B3)
Wing Hing International (Holdings) Limited (621 HK) said on Thursday that it planned to buy up to 87 percent equity interest of South African gold company Taung Gold for US$580 million (around HK$4.5 billion). (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, July 29, 2011
Thursday, July 28, 2011
Hong Kong Stock Market Wrap July 27th, 2011
Mongolia's state-owned miner Erdenes Tavan Tolgoi (TT) has agreed to sell US$250 million worth of coal from the east Tsankhi deposit to Aluminium Corp of China Ltd (CHALCO) (2600 HK). Under the agreement, Chalco would resell 30 percent of the coal to Japanese trading houses Itochu Corp and Mitsui as well as state-owned Korea Resources Corp. (SingTao Daily B3)
Beiren Printing Machinery Holdings Ltd (187 HK). announced for the six months ended June 30 2011, the company’s net profit reached over RMB14 million. (SingTao Daily B2)
China ZhengTong Auto Services (1728 HK) announces that it is in negotiations with several independent third parties in connection with several potential acquisitions of various sizes. No agreement, however, has been entered into yet. (Hong Kong Economic Journal 23)
CNOOC (883 HK) announces that the proposed transaction involving an acquisition of OPTI has secured the support of such number of second lien noteholders as collectively holds in aggregate about 82pc in principal amount of second lien notes. A majority in number of voting second lien noteholders, representing at least 66 2/3 pc in principal amount of the notes, must vote in favour at the meeting to be held in September, as one of the conditions precedent to complete the transaction. (Hong Kong Economic Journal 9)
Convenience Retail Asia (831 HK) saw net profit gain 35.3pc yoy to HK$78.02 million for the 6 months ended 30 June. It declared an interim dividend of 3.8 HK cents per share. (Hong Kong Economic Times A13)
Lenovo Group (992 HK) has received the approval from the regulatory authority of the European Commission to purchase 36 percent stake in Medion AG at a consideration of €231 million. Lenovo expects to close the acquisition deal with this German consumer electronics firm soon. (SingTao Daily B2)
Ngai Lik Industrial Holdings Ltd. (187 HK) announced to implement share consolidation on the basis that every ten shares will be consolidated into one share. The company also proposed to change the board lot size for trading shares from 2,000 shares to 4,000 consolidated shares. (SingTao Daily B2)
The Stock Exchange announces that it will cancel the listing of the shares of Peace Mark (Holdings) (304 HK) with effect from this Friday as the latter has failed to submit a viable proposal for resumption by deadline. (Hong Kong Economic Journal 9)
Power Assets (6 HK) reported unaudited net profit for the 6 months ended 30th June of HK$4,056 million, a rise of 47.3% over the same period last year. It declared an interim dividend of HK$0.62 per share. (Hong Kong Economic Times A13)
Sands China (1928 HK) announced that the company’s 2Q net profit recorded an increase of over 100 percent to US$267 million (around HK$2.08 billion). (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Beiren Printing Machinery Holdings Ltd (187 HK). announced for the six months ended June 30 2011, the company’s net profit reached over RMB14 million. (SingTao Daily B2)
China ZhengTong Auto Services (1728 HK) announces that it is in negotiations with several independent third parties in connection with several potential acquisitions of various sizes. No agreement, however, has been entered into yet. (Hong Kong Economic Journal 23)
CNOOC (883 HK) announces that the proposed transaction involving an acquisition of OPTI has secured the support of such number of second lien noteholders as collectively holds in aggregate about 82pc in principal amount of second lien notes. A majority in number of voting second lien noteholders, representing at least 66 2/3 pc in principal amount of the notes, must vote in favour at the meeting to be held in September, as one of the conditions precedent to complete the transaction. (Hong Kong Economic Journal 9)
Convenience Retail Asia (831 HK) saw net profit gain 35.3pc yoy to HK$78.02 million for the 6 months ended 30 June. It declared an interim dividend of 3.8 HK cents per share. (Hong Kong Economic Times A13)
Lenovo Group (992 HK) has received the approval from the regulatory authority of the European Commission to purchase 36 percent stake in Medion AG at a consideration of €231 million. Lenovo expects to close the acquisition deal with this German consumer electronics firm soon. (SingTao Daily B2)
Ngai Lik Industrial Holdings Ltd. (187 HK) announced to implement share consolidation on the basis that every ten shares will be consolidated into one share. The company also proposed to change the board lot size for trading shares from 2,000 shares to 4,000 consolidated shares. (SingTao Daily B2)
The Stock Exchange announces that it will cancel the listing of the shares of Peace Mark (Holdings) (304 HK) with effect from this Friday as the latter has failed to submit a viable proposal for resumption by deadline. (Hong Kong Economic Journal 9)
Power Assets (6 HK) reported unaudited net profit for the 6 months ended 30th June of HK$4,056 million, a rise of 47.3% over the same period last year. It declared an interim dividend of HK$0.62 per share. (Hong Kong Economic Times A13)
Sands China (1928 HK) announced that the company’s 2Q net profit recorded an increase of over 100 percent to US$267 million (around HK$2.08 billion). (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, July 27, 2011
Hong Kong Stock Market Wrap July 26th, 2011
Ajisen (China) (538 HK) clarifies that its quality soup base concentrate is made from stewing of soup ingredients, confirming that the soup ingredients used are made from pig bones instead of soup powder. The pig bones are stewed into soup base concentrate by employing advanced technology and expertise from Japan, it adds. (Hong Kong Economic Journal 7)
Aluminum Corporation of China (2600 HK) announces that it will make full impairment provision for the entire carrying value of around RMB340 million of the expenditure incurred for the Aurukun development project in its 2011 interim report. (Hong Kong Economic Journal 18)
BYD (1211 HK) announced it will serve as the exclusive provider of pure-electric automobiles and buses for the 2011 Shenzhen Universiade. BYD agreed to deliver 300 e6 e-cars and 200 e-buses during the game. (SingTao Daily B2)
China Mobile (941 HK) announces that Xi Guohua has been appointed as its executive director and vice chairman with effect from yesterday. (Hong Kong Economic Times A12)
Carlyle (2601 HK) places part of its stake in China Pacific Insurance at prices between 30.9 and 31.4 per share, market sources say. (Hong Kong Economic Journal 18)
Dongfeng Motor (489 HK) plans to invest HK$60.8 billion to expand production capacity in its China’s business before 2015. The company also expects the number of distributors will increase to 2,400 in order to meet its sales target. Thirty new models including electric cars are also included into its plan. (SingTao Daily B2)
Dynasty Fine Wines (828 HK) says it is expected that its net profit to be reported for the 6 months ended 30 June 2011 may be considerably lower as compared with that for the same period in 2010. (Hong Kong Economic Journal 18)
GZI REIT (405 HK) announced for the six months ended June 30 2011, the company recorded a net profit of RMB840 million, or up over 200 percent year-on-year. The 2011 interim distribution amounted to approximately RMB118 million, with RMB0.11 for distribution per unit. (SingTao Daily B5)
Hua Lien International (969 HK) says its sales result for the first six months in 2011 will record losses, compared with the profit of over HK$50 million for the corresponding period last year. (SingTao Daily B5)
Wai Kee (610 HK) expects a significant improvement in its interim operating result for the six months ended June 30, 2011. This progress is mainly due to an one-off profit from quarrying business upon agreement with local government of Wanshan in China. (SingTao Daily B5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Aluminum Corporation of China (2600 HK) announces that it will make full impairment provision for the entire carrying value of around RMB340 million of the expenditure incurred for the Aurukun development project in its 2011 interim report. (Hong Kong Economic Journal 18)
BYD (1211 HK) announced it will serve as the exclusive provider of pure-electric automobiles and buses for the 2011 Shenzhen Universiade. BYD agreed to deliver 300 e6 e-cars and 200 e-buses during the game. (SingTao Daily B2)
China Mobile (941 HK) announces that Xi Guohua has been appointed as its executive director and vice chairman with effect from yesterday. (Hong Kong Economic Times A12)
Carlyle (2601 HK) places part of its stake in China Pacific Insurance at prices between 30.9 and 31.4 per share, market sources say. (Hong Kong Economic Journal 18)
Dongfeng Motor (489 HK) plans to invest HK$60.8 billion to expand production capacity in its China’s business before 2015. The company also expects the number of distributors will increase to 2,400 in order to meet its sales target. Thirty new models including electric cars are also included into its plan. (SingTao Daily B2)
Dynasty Fine Wines (828 HK) says it is expected that its net profit to be reported for the 6 months ended 30 June 2011 may be considerably lower as compared with that for the same period in 2010. (Hong Kong Economic Journal 18)
GZI REIT (405 HK) announced for the six months ended June 30 2011, the company recorded a net profit of RMB840 million, or up over 200 percent year-on-year. The 2011 interim distribution amounted to approximately RMB118 million, with RMB0.11 for distribution per unit. (SingTao Daily B5)
Hua Lien International (969 HK) says its sales result for the first six months in 2011 will record losses, compared with the profit of over HK$50 million for the corresponding period last year. (SingTao Daily B5)
Wai Kee (610 HK) expects a significant improvement in its interim operating result for the six months ended June 30, 2011. This progress is mainly due to an one-off profit from quarrying business upon agreement with local government of Wanshan in China. (SingTao Daily B5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, July 26, 2011
Hong Kong Stock Market Wrap July 25th, 2011
China Aoyuan Property (3883 HK) says it is expected that its net profit for the 6 months ended 30 June 2011 will record a substantial growth as compared with that for the corresponding period last year, mainly attributable to a rise in the average selling price and gross profit margin in the properties delivered. (Hong Kong Economic Times A10)
China Public Procurement (1094 HK) announces that it will acquire the Wuhan EMC Project from Guocai Science & Technology for a consideration of HK$30 million. (Hong Kong Economic Journal 21)
China SCE Property (1966 HK) announced it has won a bid for a piece of land in Xiamen, Fujian Province, China at a consideration of RMB318 million. The piece of land, with a total area of around 43,400 square meters, is located in Jimei District, Xiamen. The construction work is expected to start in 4Q. (SingTao Daily B2)
CK Life Sciences Int’l (775 HK). registered profit attributable to shareholders of HK$82 million, a 69% increase over the corresponding period last year. Turnover was HK$1,720 million, a rise of about 30%. It has not declared any interim dividend. (Hong Kong Economic Times A10)
CNOOC Limited (883 HK) announced that BoZhong 28-2 South oilfields, which suspended operation in April due to a malfunction occurred on the Single Point Mooring System, has resumed production. The production capacity of the oil fields has recovered to the level before the incident, reaching about 39,000 barrels of oil per day. (SingTao Daily B2)
GCL-Poly Energy (3800 HK) announced that for the six months ended June 30 2011, the company’s net profit is expected to increase by 300 percent to reach HK$787,635,000. Such an expected increase in profit is mainly due to the growth in the sales revenue, production volume of polysilicon and wafer as well as the sales of wafer. (SingTao Daily B2)
G-Resources Group Ltd (1051 HK) announced that an increase to the resource base at Martabe at the Purnama Timur Zone. The Purnama Timur Mineral Resource contains an estimated 233,000 Oz of Au and 2,110,000 Oz of Ag. (SingTao Daily B2)
PCCW (8 HK), along with Taiwan's Chunghwa Yellow Pages, Shanghai Bell Atlantic Yellow Pages and Directel Macau, announced the signing of a cross-strait Memorandum of Understanding to form a strategic alliance to promote Yellow Pages business in the Greater China region. The four companies will jointly promote various yellow page media platform across the strait. (SingTao Daily B2)
Xiamen International Port (3378 HK) announces that it has entered into a framework agreement, planning to purchase 25% of the equity interest in Xiamen Songyu Container Terminal. (Hong Kong Economic Journal 6)
Zijin Mining (2899 HK) announces that its subsidiary Luminous Gold has entered into an agreement in relation to a proposed acquisition of an aggregate of 138,350,000 shares of ASX-listed Norton Gold. The total consideration is around RMB193,158,736. The group, after the deal, will be beneficially interested in about 16.98% of the enlarged issued shares of Norton Gold. (Hong Kong Economic Journal 21)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Public Procurement (1094 HK) announces that it will acquire the Wuhan EMC Project from Guocai Science & Technology for a consideration of HK$30 million. (Hong Kong Economic Journal 21)
China SCE Property (1966 HK) announced it has won a bid for a piece of land in Xiamen, Fujian Province, China at a consideration of RMB318 million. The piece of land, with a total area of around 43,400 square meters, is located in Jimei District, Xiamen. The construction work is expected to start in 4Q. (SingTao Daily B2)
CK Life Sciences Int’l (775 HK). registered profit attributable to shareholders of HK$82 million, a 69% increase over the corresponding period last year. Turnover was HK$1,720 million, a rise of about 30%. It has not declared any interim dividend. (Hong Kong Economic Times A10)
CNOOC Limited (883 HK) announced that BoZhong 28-2 South oilfields, which suspended operation in April due to a malfunction occurred on the Single Point Mooring System, has resumed production. The production capacity of the oil fields has recovered to the level before the incident, reaching about 39,000 barrels of oil per day. (SingTao Daily B2)
GCL-Poly Energy (3800 HK) announced that for the six months ended June 30 2011, the company’s net profit is expected to increase by 300 percent to reach HK$787,635,000. Such an expected increase in profit is mainly due to the growth in the sales revenue, production volume of polysilicon and wafer as well as the sales of wafer. (SingTao Daily B2)
G-Resources Group Ltd (1051 HK) announced that an increase to the resource base at Martabe at the Purnama Timur Zone. The Purnama Timur Mineral Resource contains an estimated 233,000 Oz of Au and 2,110,000 Oz of Ag. (SingTao Daily B2)
PCCW (8 HK), along with Taiwan's Chunghwa Yellow Pages, Shanghai Bell Atlantic Yellow Pages and Directel Macau, announced the signing of a cross-strait Memorandum of Understanding to form a strategic alliance to promote Yellow Pages business in the Greater China region. The four companies will jointly promote various yellow page media platform across the strait. (SingTao Daily B2)
Xiamen International Port (3378 HK) announces that it has entered into a framework agreement, planning to purchase 25% of the equity interest in Xiamen Songyu Container Terminal. (Hong Kong Economic Journal 6)
Zijin Mining (2899 HK) announces that its subsidiary Luminous Gold has entered into an agreement in relation to a proposed acquisition of an aggregate of 138,350,000 shares of ASX-listed Norton Gold. The total consideration is around RMB193,158,736. The group, after the deal, will be beneficially interested in about 16.98% of the enlarged issued shares of Norton Gold. (Hong Kong Economic Journal 21)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, July 25, 2011
Hong Kong Stock Market Wrap July 22nd, 2011
China Oilfield Services (2883 HK) announces that the CSRC has on 20 July approved its application to issue A Share for a validity period of 6 months. The issue will comprise the allotment and issue of not more than 500,000,000 A shares. (SingTao Daily B15)
China Precious Metal Resources (1194 HK) has entered into a letter of intent. It may acquire a gold mine in Yunnan Province with reserves and resources of gold not less than 40 tonnes. It is intended that the consideration will not exceed RMB2.0 billion. (SingTao Daily B15)
China Resources Gas Group (1193 HK) announces an acquisition of the entire issued share capital of a company operating a portfolio of city gas distribution businesses from its parent for a consideration of HK$1,710,000,000 to be satisfied in full by an allotment and issue of shares at an issue price of HK$10.6096 each. The deal is subject to the approval of independent shareholders. (Hong Kong Economic Times A11)
NVC Lighting (2222 HK) has entered into a cooperation agreement of sales network with Schneider Electric (China) to grant to the latter the exclusive right to have, during the term of the agreement, access to, share and use its sales network for the promotion, marketing, sale and distribution of certain electric products under the Schneider Electric brand in China. (Hong Kong Economic Journal P4)
Sun.King Power Electronics (580 HK) says it may book a jump in its revenue from operations and a substantial drop in its net profit for the 6 months ended 30 June 2011 as compared with that for the corresponding period last year. The estimated drop is mainly attributable to a significant rise in its administrative expenses owing to the tightening monetary environment and the record-breaking high of the value of Swiss Franc in the FX market. (Hong Kong Economic Times A11)
Bank of China (3988 HK) will become a likely buyer of the aircraft leasing business being sold off by Royal Bank of Scotland, according to Sunday Times. Royal Bank of Scotland has expressed a sale attempt of its aircraft financing and leasing division—RBS Aviation Capital. (Hong Kong Economic Times A9)
Global Bio-Chem Technology Group (809 HK) announced that an explosion took place in a workshop at 100 sq m non-mainstream production facility of its wholly-owned subsidiary in Changchun, China. There was no death nor injury caused by the explosion which occurred in the morning on 24 July 2011 in the workshop. (Hong Kong Economic Journal P6)
Shenzhen Expressway (548 HK) plans to issue corporate bonds of RMB1.5 billion to the public in the market of China and the roadshow will begin on Tuesday this week. This public bond issue has won the approval from China Securities and Regulatory Committee. (SingTao Daily B12)
WLS Holdings (8021 HK) announced that for the year ended April 30 2011, the company’s profit losses have expanded to HK$27.24 million. No final dividend was announced. (SingTao Daily B12)
Foxconn International Holdings Ltd. (1230 HK) announced that for the six months ended June 30 2011, the company expects the interim results to present a loss. This loss was mainly due to an increase in the company’s raw materials, advertising expense and effective tax rate. (SingTao Daily B12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Precious Metal Resources (1194 HK) has entered into a letter of intent. It may acquire a gold mine in Yunnan Province with reserves and resources of gold not less than 40 tonnes. It is intended that the consideration will not exceed RMB2.0 billion. (SingTao Daily B15)
China Resources Gas Group (1193 HK) announces an acquisition of the entire issued share capital of a company operating a portfolio of city gas distribution businesses from its parent for a consideration of HK$1,710,000,000 to be satisfied in full by an allotment and issue of shares at an issue price of HK$10.6096 each. The deal is subject to the approval of independent shareholders. (Hong Kong Economic Times A11)
NVC Lighting (2222 HK) has entered into a cooperation agreement of sales network with Schneider Electric (China) to grant to the latter the exclusive right to have, during the term of the agreement, access to, share and use its sales network for the promotion, marketing, sale and distribution of certain electric products under the Schneider Electric brand in China. (Hong Kong Economic Journal P4)
Sun.King Power Electronics (580 HK) says it may book a jump in its revenue from operations and a substantial drop in its net profit for the 6 months ended 30 June 2011 as compared with that for the corresponding period last year. The estimated drop is mainly attributable to a significant rise in its administrative expenses owing to the tightening monetary environment and the record-breaking high of the value of Swiss Franc in the FX market. (Hong Kong Economic Times A11)
Bank of China (3988 HK) will become a likely buyer of the aircraft leasing business being sold off by Royal Bank of Scotland, according to Sunday Times. Royal Bank of Scotland has expressed a sale attempt of its aircraft financing and leasing division—RBS Aviation Capital. (Hong Kong Economic Times A9)
Global Bio-Chem Technology Group (809 HK) announced that an explosion took place in a workshop at 100 sq m non-mainstream production facility of its wholly-owned subsidiary in Changchun, China. There was no death nor injury caused by the explosion which occurred in the morning on 24 July 2011 in the workshop. (Hong Kong Economic Journal P6)
Shenzhen Expressway (548 HK) plans to issue corporate bonds of RMB1.5 billion to the public in the market of China and the roadshow will begin on Tuesday this week. This public bond issue has won the approval from China Securities and Regulatory Committee. (SingTao Daily B12)
WLS Holdings (8021 HK) announced that for the year ended April 30 2011, the company’s profit losses have expanded to HK$27.24 million. No final dividend was announced. (SingTao Daily B12)
Foxconn International Holdings Ltd. (1230 HK) announced that for the six months ended June 30 2011, the company expects the interim results to present a loss. This loss was mainly due to an increase in the company’s raw materials, advertising expense and effective tax rate. (SingTao Daily B12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, July 22, 2011
Hong Kong Stock Market Wrap July 21st, 2011
China E-Learning (8055 HK) announces an issue of notes in the aggregate principal amount of HK$42,000,000 at coupon rate of 3% per annum, which are convertible into conversion shares at the conversion price of HK$0.50 per conversion share. (SingTao Daily B4)
China Lumena New Materials (67 HK) announces that a substantial shareholder Suo Lang Duo Ji bought 3m shares of the company at an average price of 2.49 per share on Tue. (SingTao Daily B4)
China Shenhua Energy Company Ltd. (1088 HK) announced that for the six months ended June 30 2011, its commercial coal production increased by 28.6 percent year-on-year to 140 million tones. Its coal sales grew 39.2 percent to 191 million tones, meeting its half-year sales target. (Hong Kong Economic Times A12)
Comba Telecom Systems (2342 HK) has resolved that a sum of HK$20 million will be provided for the purchase of shares in its share capital to be awarded to eligible persons. (SingTao Daily B4)
Embry Holdings’ (1388 HK) overall sales growth for the period from May to June has reached 19% as compared to the same period of last year, mainly attributable to a continual increase in sales in the China retail market, its expanded sales network and an increase in the overall demand from customers. (SingTao Daily B4)
Foxconn International Holdings Ltd. (2038 HK) announced that for the six months ended June 30 2011, the company expects the unaudited consolidated interim results to present a loss. This loss was mainly due to reduction in impairment loss and improvement in gross profit margin. (Hong Kong Economic Journal P12)
HSBC Holdings PLC (5 HK) Thursday said the Hong Kong and Shanghai Banking Corporation Limited in India has sold its unsecured written-off personal loan and credit card portfolio to J M Financial Asset Reconstruction Co. Pvt. Ltd. for a cash consideration of US$10 million. (Hong Kong Economic Times A12)
Industrial and Commercial Bank of China (1398 HK) noted yesterday that the bank’s whole year profit for 2011 is expected to amount to RMB200 billion, or up 21 percent year-on-year at least, which is in line with market expectations. (Hong Kong Economic Times A12)
(0066) MTR CORPORATION LIMITED TEMPORARY CLOSURE OF SHEUNG WAN STATION FOR 54 HOURS AUGUST 5 – 8 For the weekend from 5 to 8 August 2011, track re-configuration works will be conducted at Sheung Wan Station as part of the major track works for the West Island Line project. As a result, Island Line service will terminate at Admiralty Station during the 54 hours starting from 11:30 pm on 5 August. Advanced notices will be posted at Sheung Wan, Central and Admiralty stations to remind passengers of the temporary closure of Sheung Wan Station with leaflets providing information on alternative transports. (Hong Kong Economic Journal P12)
Zhongyu Gas (8070 HK) announces that it is in negotiation with LandOcean Energy for a sale of around 42.42% of the equity interest in Henan Zhongyu JV. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Lumena New Materials (67 HK) announces that a substantial shareholder Suo Lang Duo Ji bought 3m shares of the company at an average price of 2.49 per share on Tue. (SingTao Daily B4)
China Shenhua Energy Company Ltd. (1088 HK) announced that for the six months ended June 30 2011, its commercial coal production increased by 28.6 percent year-on-year to 140 million tones. Its coal sales grew 39.2 percent to 191 million tones, meeting its half-year sales target. (Hong Kong Economic Times A12)
Comba Telecom Systems (2342 HK) has resolved that a sum of HK$20 million will be provided for the purchase of shares in its share capital to be awarded to eligible persons. (SingTao Daily B4)
Embry Holdings’ (1388 HK) overall sales growth for the period from May to June has reached 19% as compared to the same period of last year, mainly attributable to a continual increase in sales in the China retail market, its expanded sales network and an increase in the overall demand from customers. (SingTao Daily B4)
Foxconn International Holdings Ltd. (2038 HK) announced that for the six months ended June 30 2011, the company expects the unaudited consolidated interim results to present a loss. This loss was mainly due to reduction in impairment loss and improvement in gross profit margin. (Hong Kong Economic Journal P12)
HSBC Holdings PLC (5 HK) Thursday said the Hong Kong and Shanghai Banking Corporation Limited in India has sold its unsecured written-off personal loan and credit card portfolio to J M Financial Asset Reconstruction Co. Pvt. Ltd. for a cash consideration of US$10 million. (Hong Kong Economic Times A12)
Industrial and Commercial Bank of China (1398 HK) noted yesterday that the bank’s whole year profit for 2011 is expected to amount to RMB200 billion, or up 21 percent year-on-year at least, which is in line with market expectations. (Hong Kong Economic Times A12)
(0066) MTR CORPORATION LIMITED TEMPORARY CLOSURE OF SHEUNG WAN STATION FOR 54 HOURS AUGUST 5 – 8 For the weekend from 5 to 8 August 2011, track re-configuration works will be conducted at Sheung Wan Station as part of the major track works for the West Island Line project. As a result, Island Line service will terminate at Admiralty Station during the 54 hours starting from 11:30 pm on 5 August. Advanced notices will be posted at Sheung Wan, Central and Admiralty stations to remind passengers of the temporary closure of Sheung Wan Station with leaflets providing information on alternative transports. (Hong Kong Economic Journal P12)
Zhongyu Gas (8070 HK) announces that it is in negotiation with LandOcean Energy for a sale of around 42.42% of the equity interest in Henan Zhongyu JV. (SingTao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, July 21, 2011
Hong Kong Stock Market Wrap July 20th, 2011
Ausnutria (1717 HK) agreed to buy 34.56 percent of the issued share capital in HYPROCA DAIRY GROUP B.V. at a consideration of HK$115.5 million. Ausnutria will hold an aggregate of 51 percent equity interest in the company upon the completion of this acquisition. (Hong Kong Economic Journal P7)
Bank of China (3988 HK) announced that due to its adequate capital adequacy ratio, the bank has no further business plans for financing in the rest of 2011. (Hong Kong Economic Journal P7)
China National Building Material Company (3323 HK) proposed to issue not more than 1 billion A shares. The company is seeking the approval for listing these A shares on Shanghai Stock Exchange at an appropriate time for the company. The amount of funds to be raised from the issue of A shares are expected to reach around HK$16 billion. (Hong Kong Economic Times A12)
CNOOC Ltd. (883 HK) announced yesterday that it has reached an agreement to acquire Canadian oil sands producer OPTI Canada Inc. for US$2.1 billion. CNOOC will hold 35 percent equity interest in four oil sands projects of OPTI after the completion of acquisition. (Hong Kong Economic Times A9)
HKC International’s (248 HK) wholly owned subsidiary Hong Kong Communications has entered into a termination agreement with Nokia (H.K.). The supply of cellular mobile phones from Nokia shall be terminated and Hong Kong Communications shall be entitled to continue to distribute the cellular mobile phones from Nokia for 3 more months up to 19 Oct this year. (SingTao Daily B3)
Husky Energy, Inc, (13 HK) owned by Hutchison Whampoa Limited, is talking with US crude oil and natural gas company Murphy Oil for a possible merger. The two sides refused to give further information on this matter. (Hong Kong Economic Times A12)
Ko Yo Chemical (Group) (827 HK) expects its interim results to return to the black, pointing out that the company is benefited by the commence production of the new urea plant in Dazhou since last October, and the market prices of urea and other chemical products were increased. (SingTao Daily B3)
Orient Overseas (International) (316 HK) announces that for the second quarter of 2011 its total revenues increased by merely 1.4% to US$1,410.9 million and the overall average revenue per teu dropped by 4.8%. Shares fell 1.5% yesterday. (SingTao Daily B3)
Shenzhen High-Tech (106 HK) entered into an agreement yesterday to provide a term loan in the principal sum of HK$130,000,000 to an independent third party, who shall pay interest on the loan in advance on a monthly basis at the rate of 2% a month. The repayment date will be the date falling 24 months from the drawdown date. (SingTao Daily B3)
Sihuan Pharmaceutical (460 HK) clarifies in an announcement that, at an analysts meeting on 19 July, Dr. Che Fengsheng mentioned his personal belief that the anticipated profit of Vinise Pharmaceutical in financial year 2014 would reach RMB300 million with revenue contributions exceeding RMB1 billion, which represents only the sole and personal opinion of Dr. Che and is not backed by any analysis conducted by its management nor does the remark represents its view on this matter. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of China (3988 HK) announced that due to its adequate capital adequacy ratio, the bank has no further business plans for financing in the rest of 2011. (Hong Kong Economic Journal P7)
China National Building Material Company (3323 HK) proposed to issue not more than 1 billion A shares. The company is seeking the approval for listing these A shares on Shanghai Stock Exchange at an appropriate time for the company. The amount of funds to be raised from the issue of A shares are expected to reach around HK$16 billion. (Hong Kong Economic Times A12)
CNOOC Ltd. (883 HK) announced yesterday that it has reached an agreement to acquire Canadian oil sands producer OPTI Canada Inc. for US$2.1 billion. CNOOC will hold 35 percent equity interest in four oil sands projects of OPTI after the completion of acquisition. (Hong Kong Economic Times A9)
HKC International’s (248 HK) wholly owned subsidiary Hong Kong Communications has entered into a termination agreement with Nokia (H.K.). The supply of cellular mobile phones from Nokia shall be terminated and Hong Kong Communications shall be entitled to continue to distribute the cellular mobile phones from Nokia for 3 more months up to 19 Oct this year. (SingTao Daily B3)
Husky Energy, Inc, (13 HK) owned by Hutchison Whampoa Limited, is talking with US crude oil and natural gas company Murphy Oil for a possible merger. The two sides refused to give further information on this matter. (Hong Kong Economic Times A12)
Ko Yo Chemical (Group) (827 HK) expects its interim results to return to the black, pointing out that the company is benefited by the commence production of the new urea plant in Dazhou since last October, and the market prices of urea and other chemical products were increased. (SingTao Daily B3)
Orient Overseas (International) (316 HK) announces that for the second quarter of 2011 its total revenues increased by merely 1.4% to US$1,410.9 million and the overall average revenue per teu dropped by 4.8%. Shares fell 1.5% yesterday. (SingTao Daily B3)
Shenzhen High-Tech (106 HK) entered into an agreement yesterday to provide a term loan in the principal sum of HK$130,000,000 to an independent third party, who shall pay interest on the loan in advance on a monthly basis at the rate of 2% a month. The repayment date will be the date falling 24 months from the drawdown date. (SingTao Daily B3)
Sihuan Pharmaceutical (460 HK) clarifies in an announcement that, at an analysts meeting on 19 July, Dr. Che Fengsheng mentioned his personal belief that the anticipated profit of Vinise Pharmaceutical in financial year 2014 would reach RMB300 million with revenue contributions exceeding RMB1 billion, which represents only the sole and personal opinion of Dr. Che and is not backed by any analysis conducted by its management nor does the remark represents its view on this matter. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap July 19th, 2011
Ausnutria agreed (1717 HK) to buy 34.56 percent of the issued share capital in HYPROCA DAIRY GROUP B.V. at a consideration of HK$115.5 million. Ausnutria will hold an aggregate of 51 percent equity interest in the company upon the completion of this acquisition. (Hong Kong Economic Journal P7)
Bank of China (3988 HK) announced that due to its adequate capital adequacy ratio, the bank has no further business plans for financing in the rest of 2011. (Hong Kong Economic Journal P7)
China National Building Material Company (3323 HK) proposed to issue not more than 1 billion A shares. The company is seeking the approval for listing these A shares on Shanghai Stock Exchange at an appropriate time for the company. The amount of funds to be raised from the issue of A shares are expected to reach around HK$16 billion. (Hong Kong Economic Times A12)
CNOOC Ltd. (883 HK) announced yesterday that it has reached an agreement to acquire Canadian oil sands producer OPTI Canada Inc. for US$2.1 billion. CNOOC will hold 35 percent equity interest in four oil sands projects of OPTI after the completion of acquisition. (Hong Kong Economic Times A9)
HKC International’s (248 HK) wholly owned subsidiary Hong Kong Communications has entered into a termination agreement with Nokia (H.K.). The supply of cellular mobile phones from Nokia shall be terminated and Hong Kong Communications shall be entitled to continue to distribute the cellular mobile phones from Nokia for 3 more months up to 19 Oct this year. (SingTao Daily B3)
Husky Energy, Inc, (13 HK) owned by Hutchison Whampoa Limited, is talking with US crude oil and natural gas company Murphy Oil for a possible merger. The two sides refused to give further information on this matter. (Hong Kong Economic Times A12)
Ko Yo Chemical (Group) (827 HK) expects its interim results to return to the black, pointing out that the company is benefited by the commence production of the new urea plant in Dazhou since last October, and the market prices of urea and other chemical products were increased. (SingTao Daily B3)
Orient Overseas (International) (316 HK) announces that for the second quarter of 2011 its total revenues increased by merely 1.4% to US$1,410.9 million and the overall average revenue per teu dropped by 4.8%. Shares fell 1.5% yesterday. (SingTao Daily B3)
Shenzhen High-Tech (106 HK) entered into an agreement yesterday to provide a term loan in the principal sum of HK$130,000,000 to an independent third party, who shall pay interest on the loan in advance on a monthly basis at the rate of 2% a month. The repayment date will be the date falling 24 months from the drawdown date. (SingTao Daily B3)
Sihuan Pharmaceutical (460 HK) clarifies in an announcement that, at an analysts meeting on 19 July, Dr. Che Fengsheng mentioned his personal belief that the anticipated profit of Vinise Pharmaceutical in financial year 2014 would reach RMB300 million with revenue contributions exceeding RMB1 billion, which represents only the sole and personal opinion of Dr. Che and is not backed by any analysis conducted by its management nor does the remark represents its view on this matter. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bank of China (3988 HK) announced that due to its adequate capital adequacy ratio, the bank has no further business plans for financing in the rest of 2011. (Hong Kong Economic Journal P7)
China National Building Material Company (3323 HK) proposed to issue not more than 1 billion A shares. The company is seeking the approval for listing these A shares on Shanghai Stock Exchange at an appropriate time for the company. The amount of funds to be raised from the issue of A shares are expected to reach around HK$16 billion. (Hong Kong Economic Times A12)
CNOOC Ltd. (883 HK) announced yesterday that it has reached an agreement to acquire Canadian oil sands producer OPTI Canada Inc. for US$2.1 billion. CNOOC will hold 35 percent equity interest in four oil sands projects of OPTI after the completion of acquisition. (Hong Kong Economic Times A9)
HKC International’s (248 HK) wholly owned subsidiary Hong Kong Communications has entered into a termination agreement with Nokia (H.K.). The supply of cellular mobile phones from Nokia shall be terminated and Hong Kong Communications shall be entitled to continue to distribute the cellular mobile phones from Nokia for 3 more months up to 19 Oct this year. (SingTao Daily B3)
Husky Energy, Inc, (13 HK) owned by Hutchison Whampoa Limited, is talking with US crude oil and natural gas company Murphy Oil for a possible merger. The two sides refused to give further information on this matter. (Hong Kong Economic Times A12)
Ko Yo Chemical (Group) (827 HK) expects its interim results to return to the black, pointing out that the company is benefited by the commence production of the new urea plant in Dazhou since last October, and the market prices of urea and other chemical products were increased. (SingTao Daily B3)
Orient Overseas (International) (316 HK) announces that for the second quarter of 2011 its total revenues increased by merely 1.4% to US$1,410.9 million and the overall average revenue per teu dropped by 4.8%. Shares fell 1.5% yesterday. (SingTao Daily B3)
Shenzhen High-Tech (106 HK) entered into an agreement yesterday to provide a term loan in the principal sum of HK$130,000,000 to an independent third party, who shall pay interest on the loan in advance on a monthly basis at the rate of 2% a month. The repayment date will be the date falling 24 months from the drawdown date. (SingTao Daily B3)
Sihuan Pharmaceutical (460 HK) clarifies in an announcement that, at an analysts meeting on 19 July, Dr. Che Fengsheng mentioned his personal belief that the anticipated profit of Vinise Pharmaceutical in financial year 2014 would reach RMB300 million with revenue contributions exceeding RMB1 billion, which represents only the sole and personal opinion of Dr. Che and is not backed by any analysis conducted by its management nor does the remark represents its view on this matter. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, July 19, 2011
Hong Kong Stock Market Wrap July 18th, 2011
Billion Industrial (2299 HK) expects a jump in its unaudited profit after taxation for the six months ended 30 June 2011, primarily attributed to a rise in average selling price and sales volume of its products. (SingTao Daily B3)
China Financial International Investments (721 HK) sets up 2 JV companies, one in Donghu District, Nanchang City and one in Yushui District, Xinyu City. It holds 30% of equity interests in both JV companies. (SingTao Daily B3)
China Unicom (Hong Kong) (762 HK) saw its 3G service subscribers go up in June with a net addition of 1.855 million, exceeding 6.7 percent as compared to that in May. This increase is mainly attributable to the lowering sale price of Android mobile phones. (Hong Kong Economic Journal P6)
TRUenergy, a wholly owned subsidiary of CLP Holdings (2 HK), plans to buy 20 percent equity interest in Gunnedah Basin from Santos for A$284 million. Australian energy group Santos Ltd agreed to buy smaller peer Eastern Star Gas Ltd in an all-share deal. (Hong Kong Economic Journal P10)
Cosway Corporation (288 HK) has been informed by its controlling shareholder CCB that it is presently considering the privatisation of Cosway Corporation and it is envisaged that it would be at a cash consideration of HK$1.10 per share. (SingTao Daily B3)
Glencore International PLC (805 HK) agreed to acquire 70 percent equity interest in Mina Justa Project from CST Mining Group at a consideration of US$475 million (HK$3.71 billion), subject to closing adjustments. (Hong Kong Economic Times A9)
Le Saunda Holdings Ltd (738 HK) announced that for the first four months (March-June) in 2011, its sales grew by 30 percent. Its Hong Kong and Macau same store sales are expected to record double-digit increase. (Hong Kong Economic Times A9)
Opes Asia Development (810 HK) says that it is expected to record a significant loss for the six months ended 30 June 2011. (SingTao Daily B3)
World Wide Touch Technology (1282 HK) announced that its profit for the six months ended 30 June 2011 is expected to decline as compared with that for the corresponding period in 2010. This decline of profit was mainly attributable to the decrease in gross profit margin as a result of the change in product portfolio, increase in production costs, and the appreciation of Renminbi. (Hong Kong Economic Times A9)
Zhaojin Mining Industry (1818 HK) says, in accordance with the Administration of Work Safety of Shandong Province, it has suspended production of its mines within Shandong province for rectification since 11 July 2011. On 16 July, it received from the local government a notice stating that all the its mines within Shandong province have passed the inspection for resumption of production and have been approved for resumption of production. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Financial International Investments (721 HK) sets up 2 JV companies, one in Donghu District, Nanchang City and one in Yushui District, Xinyu City. It holds 30% of equity interests in both JV companies. (SingTao Daily B3)
China Unicom (Hong Kong) (762 HK) saw its 3G service subscribers go up in June with a net addition of 1.855 million, exceeding 6.7 percent as compared to that in May. This increase is mainly attributable to the lowering sale price of Android mobile phones. (Hong Kong Economic Journal P6)
TRUenergy, a wholly owned subsidiary of CLP Holdings (2 HK), plans to buy 20 percent equity interest in Gunnedah Basin from Santos for A$284 million. Australian energy group Santos Ltd agreed to buy smaller peer Eastern Star Gas Ltd in an all-share deal. (Hong Kong Economic Journal P10)
Cosway Corporation (288 HK) has been informed by its controlling shareholder CCB that it is presently considering the privatisation of Cosway Corporation and it is envisaged that it would be at a cash consideration of HK$1.10 per share. (SingTao Daily B3)
Glencore International PLC (805 HK) agreed to acquire 70 percent equity interest in Mina Justa Project from CST Mining Group at a consideration of US$475 million (HK$3.71 billion), subject to closing adjustments. (Hong Kong Economic Times A9)
Le Saunda Holdings Ltd (738 HK) announced that for the first four months (March-June) in 2011, its sales grew by 30 percent. Its Hong Kong and Macau same store sales are expected to record double-digit increase. (Hong Kong Economic Times A9)
Opes Asia Development (810 HK) says that it is expected to record a significant loss for the six months ended 30 June 2011. (SingTao Daily B3)
World Wide Touch Technology (1282 HK) announced that its profit for the six months ended 30 June 2011 is expected to decline as compared with that for the corresponding period in 2010. This decline of profit was mainly attributable to the decrease in gross profit margin as a result of the change in product portfolio, increase in production costs, and the appreciation of Renminbi. (Hong Kong Economic Times A9)
Zhaojin Mining Industry (1818 HK) says, in accordance with the Administration of Work Safety of Shandong Province, it has suspended production of its mines within Shandong province for rectification since 11 July 2011. On 16 July, it received from the local government a notice stating that all the its mines within Shandong province have passed the inspection for resumption of production and have been approved for resumption of production. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, July 18, 2011
Hong Kong Stock Market Wrap July 15th, 2011
China Yurun Food Group (1068 HK) announces that chairman Zhu Yicai has further bought 1,800,000 shares in the company on market. After the acquisition, Zhu’s interest in the company has risen to around 25.94% of the issued share capital of China Yurun Food. (Hong Kong Economic Journal 17)
China Zhongwang (1333 HK) says its 1H net profit is expected to drop sharply as compared to the same period last year, mainly attributable to the adverse impact of the outcome of the anti-dumping and countervailing duty investigations conducted by the US, which resulted in a substantial drop in its export sales to the US for the period. The expected decline is also owing to the lower average selling price for industrial aluminium extrusion products in the domestic market. (Hong Kong Economic Times A8)
CITIC Pacific (267 HK) announces a disposal of its 50% non-controlling interest in CITIC Guoan to a wholly-owned subsidiary of its parent. The consideration is RMB3.511 billion. (Hong Kong Economic Journal 17)
Hanny Holdings (275 HK) sells the sale note issued by ITC Properties Group to Chan Kwok Keung at the consideration of HK$311,850,000. The sale note is the 3.25% convertible note due 2013 issued in the principal amount of HK$297 million. (SingTao Daily B3)
Tibet 5100 Water Resources (1115 HK) has entered into a replacement procurement agreement with China Railway Express. The latter is required to buy 50,000 tonnes of bottled mineral water from it every year. The obligation of Tibet 5100 Water Resources under the current buy-one-get-one-free arrangement will be waived. The agreement has retroactive effect with the term commencing from Jan1, 2011 to Dec 31, 2013. (SingTao Daily B3)
China Overseas Land (688 HK) and Investment has set its profit target for the next two years. The company expects that its core net profit will amount to HK$20 billion. (Sing Tao Daily B12)
China Suntien Green Energy (956 HK) anticipates that for the six months ended June 30 2011, the company will record a 1x increase in profit compared with the same period last year. The significant increase of the operating capacity of the company’s wind farms and the addition of newly registered Clean Development Mechanism (CDM) projects help contribute to such an improvement. (Sing Tao Daily B12)
Petro China Company (857 HK) has to shut its crude distillation unit at its Dalian refinery after a fire on Saturday. The accident happened just two weeks after the CDU was restarted after it was shut for around 40 days for maintenance. The fire, caused by a leak at a heat exchanger in the CDU, started on Sunday evening and was put out (Hong Kong Economic Times A9)
IPO: Porda Havas says that its profit has met the requirement to be listed on the Mainborad in Hong Kong. The company’s initial public offering will be launched in 2012 or 2013. (Hong Kong Economic Journal P11)
Techtronic Industries (669 HK) is considering various strategic options in relation to its floor care business ranging from a possible divestment of the Floor Care Business to maintaining the status quo, with a view to enhancing shareholders’ value in the company. (Sing Tao Daily B12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Zhongwang (1333 HK) says its 1H net profit is expected to drop sharply as compared to the same period last year, mainly attributable to the adverse impact of the outcome of the anti-dumping and countervailing duty investigations conducted by the US, which resulted in a substantial drop in its export sales to the US for the period. The expected decline is also owing to the lower average selling price for industrial aluminium extrusion products in the domestic market. (Hong Kong Economic Times A8)
CITIC Pacific (267 HK) announces a disposal of its 50% non-controlling interest in CITIC Guoan to a wholly-owned subsidiary of its parent. The consideration is RMB3.511 billion. (Hong Kong Economic Journal 17)
Hanny Holdings (275 HK) sells the sale note issued by ITC Properties Group to Chan Kwok Keung at the consideration of HK$311,850,000. The sale note is the 3.25% convertible note due 2013 issued in the principal amount of HK$297 million. (SingTao Daily B3)
Tibet 5100 Water Resources (1115 HK) has entered into a replacement procurement agreement with China Railway Express. The latter is required to buy 50,000 tonnes of bottled mineral water from it every year. The obligation of Tibet 5100 Water Resources under the current buy-one-get-one-free arrangement will be waived. The agreement has retroactive effect with the term commencing from Jan1, 2011 to Dec 31, 2013. (SingTao Daily B3)
China Overseas Land (688 HK) and Investment has set its profit target for the next two years. The company expects that its core net profit will amount to HK$20 billion. (Sing Tao Daily B12)
China Suntien Green Energy (956 HK) anticipates that for the six months ended June 30 2011, the company will record a 1x increase in profit compared with the same period last year. The significant increase of the operating capacity of the company’s wind farms and the addition of newly registered Clean Development Mechanism (CDM) projects help contribute to such an improvement. (Sing Tao Daily B12)
Petro China Company (857 HK) has to shut its crude distillation unit at its Dalian refinery after a fire on Saturday. The accident happened just two weeks after the CDU was restarted after it was shut for around 40 days for maintenance. The fire, caused by a leak at a heat exchanger in the CDU, started on Sunday evening and was put out (Hong Kong Economic Times A9)
IPO: Porda Havas says that its profit has met the requirement to be listed on the Mainborad in Hong Kong. The company’s initial public offering will be launched in 2012 or 2013. (Hong Kong Economic Journal P11)
Techtronic Industries (669 HK) is considering various strategic options in relation to its floor care business ranging from a possible divestment of the Floor Care Business to maintaining the status quo, with a view to enhancing shareholders’ value in the company. (Sing Tao Daily B12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, July 15, 2011
Hong Kong Stock Market Wrap July 14th, 2011
Agile Property (3883 HK) has entered into a facility loan amounting to HK$2.35 billion with banks in Hong Kong for a term of 36 months. The banks are Standard Chartered Bank (Hong Kong), Barclays Bank, The Royal Bank of Scotland (Hong Kong Branch), The Bank of East Asia, Hang Seng Bank, Industrial and Commercial Bank of China (Asia) and Wing Lung Bank. (Sing Tao Daily B3)
Alibaba.com Ltd. (1688 HK) started allowing users of its AliExpress online-sales platform to buy goods on the site by making cash payments at Western Union. The companies expect the service to become a key payment option in emerging markets in Latin America, Eastern Europe and Africa. (Sing Tao Daily B4)
Anhui Conch Cement (914 HK) expects a yoy increase of 200% in its unaudited net profit prepared in accordance with PRC accounting standards for the six months ended 30 June 2011. (Hong Kong Economic Journal 25)
Rumours spread that Cheung Kong Infrastructure (1038 HK) plans to place new shares at HK$40.41-42.15 per share to raise around HK$3.12b. (Hong Kong Economic Journal 25)
China Coal Energy Company (1898 HK) says its commercial coal production volume in June amounted to 7,970,000 tonnes, up 6.5pc yoy. Domestic sales of self-produced coal amounted to 7,490,000 tonnes in June. (Hong Kong Economic Times A12)
China Longyuan (916 HK) has made its first move outside its domestic market and acquired a share of a Canadian wind farm. Under the agreement, Longyuan Canada Renewables will purchase stocks of a 100MW wind farm at a consideration of RMB1.68 billion from Farm Owned Power (Melancthon) in Ontario. (Sing Tao Daily B3)
Henderson Land Development Company (12 HK) plans to introduce four to five new projects in Nanjing, China into market by July or August. The total sales of these properties are expected to amount to RMB4 billion-5 billion. (Sing Tao Daily B5)
Rainbow Brothers Holdings Ltd. (033 HK) announced that Harmonic Strait Credit Guarantee Co., Ltd (和協海峽信用擔保有限公司), a 90 percent owned subsidiary of the company, has negotiated with an independent third party concerning a possible formation of a joint venture in Mainland China. Both sides plan to acquire and develop a piece of land in Chaoyang District, Beijing. (Sing Tao Daily B3)
SPG Land (Holdings) (337 HK) announces termination of an acquisition of a site in Ningbo. The company announced in April that it would acquire a site in Ningbo for RMB 350m. (Hong Kong Economic Journal 25)
Stella International Holdings (1836 HK) announces that for the three months and six months ended 30 June 2011, its unaudited consolidated revenue was roughly US$394.0 million and US$667.9 million respectively, representing a yoy growth of about 23.2% and 22.7%. (Hong Kong Economic Journal 25)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Alibaba.com Ltd. (1688 HK) started allowing users of its AliExpress online-sales platform to buy goods on the site by making cash payments at Western Union. The companies expect the service to become a key payment option in emerging markets in Latin America, Eastern Europe and Africa. (Sing Tao Daily B4)
Anhui Conch Cement (914 HK) expects a yoy increase of 200% in its unaudited net profit prepared in accordance with PRC accounting standards for the six months ended 30 June 2011. (Hong Kong Economic Journal 25)
Rumours spread that Cheung Kong Infrastructure (1038 HK) plans to place new shares at HK$40.41-42.15 per share to raise around HK$3.12b. (Hong Kong Economic Journal 25)
China Coal Energy Company (1898 HK) says its commercial coal production volume in June amounted to 7,970,000 tonnes, up 6.5pc yoy. Domestic sales of self-produced coal amounted to 7,490,000 tonnes in June. (Hong Kong Economic Times A12)
China Longyuan (916 HK) has made its first move outside its domestic market and acquired a share of a Canadian wind farm. Under the agreement, Longyuan Canada Renewables will purchase stocks of a 100MW wind farm at a consideration of RMB1.68 billion from Farm Owned Power (Melancthon) in Ontario. (Sing Tao Daily B3)
Henderson Land Development Company (12 HK) plans to introduce four to five new projects in Nanjing, China into market by July or August. The total sales of these properties are expected to amount to RMB4 billion-5 billion. (Sing Tao Daily B5)
Rainbow Brothers Holdings Ltd. (033 HK) announced that Harmonic Strait Credit Guarantee Co., Ltd (和協海峽信用擔保有限公司), a 90 percent owned subsidiary of the company, has negotiated with an independent third party concerning a possible formation of a joint venture in Mainland China. Both sides plan to acquire and develop a piece of land in Chaoyang District, Beijing. (Sing Tao Daily B3)
SPG Land (Holdings) (337 HK) announces termination of an acquisition of a site in Ningbo. The company announced in April that it would acquire a site in Ningbo for RMB 350m. (Hong Kong Economic Journal 25)
Stella International Holdings (1836 HK) announces that for the three months and six months ended 30 June 2011, its unaudited consolidated revenue was roughly US$394.0 million and US$667.9 million respectively, representing a yoy growth of about 23.2% and 22.7%. (Hong Kong Economic Journal 25)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, July 14, 2011
Hong Kong Stock Market Wrap July 13th, 2011
Chevalier International Holdings Ltd. (25 HK) and Chevalier Pacific Holdings Ltd. (508) declared that Chevalier Pacific agreed to sell some of its catering businesses in Hong Kong, Macau and Australia to Chevalier International at a consideration of HK$246 million. (Sing Tao Daily B3)
China Telecom (728 HK) plans to sell iPhone starting from November 2011 at the earliest. The company refuses to comment on any business discussion with Apple and there is no timetable for the launch of CDMA iPhone at the moment. (Sing Tao Daily B4)
Geely Automobile (175 HK) announces that its total sales volume in the 1H was 213,381 units, up 9.0% from the same period last year and achieving 44.5% of the full year sales volume target of 480,000 units of vehicles in 2011. (Hong Kong Economic Times A13)
Northeast Electric Development (42 HK) says it is predicted that its accumulative net profit is about RMB19,000,000 and EPS is roughly RMB0.02 in the 1H, with a year-on-year increase according to the preliminary calculation by its financial management department. (Hong Kong Economic Journal P8)
PCCW Limited (8 HK) has launched uHub, an iCloud-style services, linking broadband, mobile phone service subscribers and non-PCCW customers together within a network. This uHub also supports operations of Google’s Android and Apple’s iOS. (Sing Tao Daily B4)
Real Gold Mining (246 HK) announces that Xiao Zuhe has resigned as an independent non-executive director with effect from yesterday due to his other commitments. (Hong Kong Economic Journal P21)
Sa Sa International (178 HK0 announced that for the three months ended 30 June 2011, its operational turnovers increased by 34.6 percent year-on-year and retail & wholesale sales growth in Hong Kong and Macau lifted nearly 39 percent year-on-year. (Sing Tao Daily B3)
Shui On Construction (983 HK) and Materials announces that its wholly-owned subsidiary Shui On Building Materials has entered into an agreement to sell a cement plant in Guizhou to Upper Value. The sum of the maximum aggregate consideration and the debts and loans is around HK$490 million. (Hong Kong Economic Journal P8)
Solartech International (1166 HK) has agreed to place up to 504.51 million placing shares at a price of HK$0.2 per placing share through the placing agent Kingston Securities Ltd. (Sing Tao Daily B3)
Xiamen International Port (3378 HK) announces that Xiamen Port Development says it has seized the good opportunity of the restoring of the throughput of Xiamen port, expecting its 1H net profit to increase by 79.13% to approximately RMB75,837,000. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Telecom (728 HK) plans to sell iPhone starting from November 2011 at the earliest. The company refuses to comment on any business discussion with Apple and there is no timetable for the launch of CDMA iPhone at the moment. (Sing Tao Daily B4)
Geely Automobile (175 HK) announces that its total sales volume in the 1H was 213,381 units, up 9.0% from the same period last year and achieving 44.5% of the full year sales volume target of 480,000 units of vehicles in 2011. (Hong Kong Economic Times A13)
Northeast Electric Development (42 HK) says it is predicted that its accumulative net profit is about RMB19,000,000 and EPS is roughly RMB0.02 in the 1H, with a year-on-year increase according to the preliminary calculation by its financial management department. (Hong Kong Economic Journal P8)
PCCW Limited (8 HK) has launched uHub, an iCloud-style services, linking broadband, mobile phone service subscribers and non-PCCW customers together within a network. This uHub also supports operations of Google’s Android and Apple’s iOS. (Sing Tao Daily B4)
Real Gold Mining (246 HK) announces that Xiao Zuhe has resigned as an independent non-executive director with effect from yesterday due to his other commitments. (Hong Kong Economic Journal P21)
Sa Sa International (178 HK0 announced that for the three months ended 30 June 2011, its operational turnovers increased by 34.6 percent year-on-year and retail & wholesale sales growth in Hong Kong and Macau lifted nearly 39 percent year-on-year. (Sing Tao Daily B3)
Shui On Construction (983 HK) and Materials announces that its wholly-owned subsidiary Shui On Building Materials has entered into an agreement to sell a cement plant in Guizhou to Upper Value. The sum of the maximum aggregate consideration and the debts and loans is around HK$490 million. (Hong Kong Economic Journal P8)
Solartech International (1166 HK) has agreed to place up to 504.51 million placing shares at a price of HK$0.2 per placing share through the placing agent Kingston Securities Ltd. (Sing Tao Daily B3)
Xiamen International Port (3378 HK) announces that Xiamen Port Development says it has seized the good opportunity of the restoring of the throughput of Xiamen port, expecting its 1H net profit to increase by 79.13% to approximately RMB75,837,000. (Hong Kong Economic Journal P8)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, July 13, 2011
Hong Kong Stock Market Wrap July 12th, 2011
IPO: Australia's third-largest miner of iron ore, Fortescue Metals Group Ltd. (FMG.AU), is considering a listing in Hong Kong or Shanghai to entrench ties with Chinese steel mills, Chief Executive Andrew Forrest said Tuesday. (Xinhua.net)
Airport operator Beijing Capital International Airport Co. (694 HK) said Tuesday it expects its first-half results to "increase significantly" from a year earlier because of higher revenue and stringent cost controls. The Hong Kong-listed company didn't elaborate in its statement. Beijing Capital Airport is China's busiest airport in terms of passenger throughput. It overtook major airports such as Chicago's O'Hare and London's Heathrow to become the world's second-busiest airport by passenger traffic in 2010. (Xinhua. net)
BYD Company Ltd. (1211 HK) announced that the company expects to record its profit plunging 85 percent or even 95 percent at worst to RMB121 million-RMB363 million for the first half of 2011. The company notes that the decline in revenues of automobile and mobile phone businesses will affect its gross profit margin during this period. (Sing Tao Daily B1)
China Hongqiao Group Ltd. (1378 HK) plans to sell a three-year offshore yuan-denominated bond and a five-year U.S. dollar bond, according to a document seen by Dow Jones Newswires Tuesday. The proceeds will be used to expand the company's electricity production facilities, the document said, without stating the target size of the planned bonds. (Dow Jones Newswires)
China Shenhua Energy (1088 HK) plans to spend RMB25.5 million to form a joint venture with Anhui Province Energy Group reports China Securities Journal. The transaction is part of Shenhua Energy’s effort to accelerate its investment in the power generation field, as the new entity will be engaged in electric power and storage and sales of coal. (Sing Tao Daily B3)
China Taiping Insurance Company (966 HK) announced that accumulated premium income of Taiping Life Insurance Company Limited, a subsidiary of the company for the six months ended 31 June 2011 amounted to RMB17, 65 million. (Sing Tao Daily B3)
China Travel International Investment Hong Kong Ltd (308 HK) said on Monday that it was considering a spin-off for its hotel operations and expected its first half net profit to increase significantly. (China Industry Updates)
IRC Ltd. (1029 HK) announced that for the six months ended 30 June 2011, its total production increased by 142 percent, compared to the previous six-month period. The average realised prices for iron ore concentrate sales recorded an increase of 12 percent to US$147/t. (Hong Kong Economic Journal P7)
Jiangxi Copper Company Ltd. (358 HK) announced that the company’s net profit for the first half of 2011 will increase by over 50 percent to reach RMB3,186 million. The company noted that the improvement in copper output and rising selling prices of copper products pushed its main operating profits up. (Sing Tao Daily B2)
Longfor Properties Co. (960 HK) decided to cancel a share placement of around US$505 million due to market volatility. The Chinese property developer is the latest to postpone or abandon share sales because of choppy market conditions in Asia. In the past month at least five companies priced their Hong Kong initial public offerings at the lower end of their ranges, reduced the size of their offering or cancelled their IPOs altogether. (Dow Jones Newswires)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Airport operator Beijing Capital International Airport Co. (694 HK) said Tuesday it expects its first-half results to "increase significantly" from a year earlier because of higher revenue and stringent cost controls. The Hong Kong-listed company didn't elaborate in its statement. Beijing Capital Airport is China's busiest airport in terms of passenger throughput. It overtook major airports such as Chicago's O'Hare and London's Heathrow to become the world's second-busiest airport by passenger traffic in 2010. (Xinhua. net)
BYD Company Ltd. (1211 HK) announced that the company expects to record its profit plunging 85 percent or even 95 percent at worst to RMB121 million-RMB363 million for the first half of 2011. The company notes that the decline in revenues of automobile and mobile phone businesses will affect its gross profit margin during this period. (Sing Tao Daily B1)
China Hongqiao Group Ltd. (1378 HK) plans to sell a three-year offshore yuan-denominated bond and a five-year U.S. dollar bond, according to a document seen by Dow Jones Newswires Tuesday. The proceeds will be used to expand the company's electricity production facilities, the document said, without stating the target size of the planned bonds. (Dow Jones Newswires)
China Shenhua Energy (1088 HK) plans to spend RMB25.5 million to form a joint venture with Anhui Province Energy Group reports China Securities Journal. The transaction is part of Shenhua Energy’s effort to accelerate its investment in the power generation field, as the new entity will be engaged in electric power and storage and sales of coal. (Sing Tao Daily B3)
China Taiping Insurance Company (966 HK) announced that accumulated premium income of Taiping Life Insurance Company Limited, a subsidiary of the company for the six months ended 31 June 2011 amounted to RMB17, 65 million. (Sing Tao Daily B3)
China Travel International Investment Hong Kong Ltd (308 HK) said on Monday that it was considering a spin-off for its hotel operations and expected its first half net profit to increase significantly. (China Industry Updates)
IRC Ltd. (1029 HK) announced that for the six months ended 30 June 2011, its total production increased by 142 percent, compared to the previous six-month period. The average realised prices for iron ore concentrate sales recorded an increase of 12 percent to US$147/t. (Hong Kong Economic Journal P7)
Jiangxi Copper Company Ltd. (358 HK) announced that the company’s net profit for the first half of 2011 will increase by over 50 percent to reach RMB3,186 million. The company noted that the improvement in copper output and rising selling prices of copper products pushed its main operating profits up. (Sing Tao Daily B2)
Longfor Properties Co. (960 HK) decided to cancel a share placement of around US$505 million due to market volatility. The Chinese property developer is the latest to postpone or abandon share sales because of choppy market conditions in Asia. In the past month at least five companies priced their Hong Kong initial public offerings at the lower end of their ranges, reduced the size of their offering or cancelled their IPOs altogether. (Dow Jones Newswires)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, July 12, 2011
Hong Kong Stock Market Wrap July 11th, 2011
Mobile Market (MM) (941 HK), the online application store of China's leading telecom operator China Mobile, recorded a total of 70,000 applications and more than two million developers as of end June. (Xinhua Electronic News)
China Travel International Investment Hong Kong (308 HK) announced that the company is expected to record a significant increase in its net profit for the six months ended 30 June 2011, which is mainly due to the continuous improvement of travel business benefiting from economic recovery, no further provision for impairment of investment and some shortened fixed assets in the resort operations of the company. (Hong Kong Economic Times A12)
Cheung Kong Infrastructure Holdings Limited (1038 HK) plans to acquire the U.K’s Northumbrian Water Group PLC, which could value this water supplier at £2.4 billion. The two sides have entered into talks concerning this offer. (Hong Kong Economic Journal P6)
China's Social Security Fund (SSF) (1398 HK) has cut its H-shares holding in the Industrial and Commercial Bank of China to 16.98 pc from 17.99 pc. On June 28, the SSF sold 35 million ICBC H-shares at price of 5.882 Hong Kong dollars a share. (Xinhua China Money)
Kingway Brewery (124 HK) says the its beer sales for the first half of 2011 have recorded an increase but affected by the rising raw materials cost and the newly imposed city construction tax and education surcharge to the company’s subsidiaries in mainland China, the profit will experience a sharp drop for the first half of 2011. (Hong Kong Economic Times A12)
Lerado Group (Holding) Company (1225 HK) announced that due to increased material cost, labour shortage and continuous appreciation in Renminbi, the company expects that its profit will see a significant drop for the six months ended 30 June 2011 as compared to the corresponding period last year. (Hong Kong Economic Journal P5)
Maoye International Holdings Limited (848 HK) announced that for the second quarter ended 30 June 2011, the company recorded an increase of total sales proceeds from concessionaire sales of 57.6 percent, of which the same-store sales proceeds increased by 23.3 percent. (Hong Kong Economic Journal P6)
China Metallurgical Group Corporation (1618 HK) denied a newspaper report that it was being investigated by Chinese authorities. Shares of the listed unit MCC fell nearly 5 percent on Monday after Ming Pao Daily News quoted unidentified sources as saying China Metallurgical was being investigated by the Communist Party's Central Commission for Discipline Inspection. (Ming Pao Daily News)
Sino-Ocean Land Holdings Ltd. (3377 HK) has announced that the company and two units of China Life Insurance (Group) Co. had jointly won a bid for a commercial site in Beijing for 2.66 billion Yuan, according to a company filing. (China Economic Information Service)
TCL Communication technology Holdings Limited (2618 HK) announced that its mobile phones and other products have witnessed sales increasing by 29 percent year-on-year to 3.785 million sets for the six months ended 30 June 2011. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Travel International Investment Hong Kong (308 HK) announced that the company is expected to record a significant increase in its net profit for the six months ended 30 June 2011, which is mainly due to the continuous improvement of travel business benefiting from economic recovery, no further provision for impairment of investment and some shortened fixed assets in the resort operations of the company. (Hong Kong Economic Times A12)
Cheung Kong Infrastructure Holdings Limited (1038 HK) plans to acquire the U.K’s Northumbrian Water Group PLC, which could value this water supplier at £2.4 billion. The two sides have entered into talks concerning this offer. (Hong Kong Economic Journal P6)
China's Social Security Fund (SSF) (1398 HK) has cut its H-shares holding in the Industrial and Commercial Bank of China to 16.98 pc from 17.99 pc. On June 28, the SSF sold 35 million ICBC H-shares at price of 5.882 Hong Kong dollars a share. (Xinhua China Money)
Kingway Brewery (124 HK) says the its beer sales for the first half of 2011 have recorded an increase but affected by the rising raw materials cost and the newly imposed city construction tax and education surcharge to the company’s subsidiaries in mainland China, the profit will experience a sharp drop for the first half of 2011. (Hong Kong Economic Times A12)
Lerado Group (Holding) Company (1225 HK) announced that due to increased material cost, labour shortage and continuous appreciation in Renminbi, the company expects that its profit will see a significant drop for the six months ended 30 June 2011 as compared to the corresponding period last year. (Hong Kong Economic Journal P5)
Maoye International Holdings Limited (848 HK) announced that for the second quarter ended 30 June 2011, the company recorded an increase of total sales proceeds from concessionaire sales of 57.6 percent, of which the same-store sales proceeds increased by 23.3 percent. (Hong Kong Economic Journal P6)
China Metallurgical Group Corporation (1618 HK) denied a newspaper report that it was being investigated by Chinese authorities. Shares of the listed unit MCC fell nearly 5 percent on Monday after Ming Pao Daily News quoted unidentified sources as saying China Metallurgical was being investigated by the Communist Party's Central Commission for Discipline Inspection. (Ming Pao Daily News)
Sino-Ocean Land Holdings Ltd. (3377 HK) has announced that the company and two units of China Life Insurance (Group) Co. had jointly won a bid for a commercial site in Beijing for 2.66 billion Yuan, according to a company filing. (China Economic Information Service)
TCL Communication technology Holdings Limited (2618 HK) announced that its mobile phones and other products have witnessed sales increasing by 29 percent year-on-year to 3.785 million sets for the six months ended 30 June 2011. (Sing Tao Daily B4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Monday, July 11, 2011
Hong Kong Stock Market Wrap July 8th, 2011
China Solar Energy (155 HK) plans to acquire the entire equity interests in Solar Market at a consideration of HK$160 million. (Hong Kong Economic Times A12)
Honghua Group (196 HK) announced that the company is expected to record an improvement in its profit this year, turning around to profit after a loss for 2010. This change is mainly due to a substantial increase of sales in land drilling rigs and components. (Sing Tao Daily B14)
After Hua Xia Healthcare (8143 HK) acquired Huihao Group in Fujian Province, the company has focused on pharmaceutical wholesale, distribution, and retail businesses instead of general hospital services. The company has announced that its pharmaceutical business has gained 92 percent of its total revenue and it will further seek opportunities in Fujian Province, China. (Sing Tao Daily B14)
Li Ning (2331 HK) issued a profit warning saying that the company’s same store sales have significantly slowed down and its growth of quarterly orders has sharply dropped. The company will likely record a loss in annual profit this year. (Hong Kong Economic Journal P5)
Standard Chartered PLC (2888 HK) plans to close around 43 branches in South Korea. Workers at SC First Bank have launched an indefinite strike over wage plan in South Korea and the strike has affected the bank’s normal operation. (Hong Kong Economic Times A12)
Angang Steel (347 HK) expects its net profit attributable to shareholders to drop to around RMB220 million for the six months ended 30 June, a yoy decrease of about 92%, primarily due to the jump in the prices of raw materials and fuels. (Hong Kong Economic Times A8)
BaWang International (1338 HK) preliminarily estimates that its results for the first half would book a loss, which is mainly in connection with the “dioxane incident”. (Hong Kong Economic Journal P17)
China Dongxiang (3818 HK) expects its revenue for the six month period ended 30 June to decline by approximately 45% as compared with the corresponding period in 2010 and the margin of profit attributable to shareholders to retreat to roughly 17–19% owing to excess inventory. (Hong Kong Economic Journal P17)
China ITS (1900 HK) says, with the investors’ best interests in mind, it has decided to postpone a plan to issue CNY denominated bonds but will closely monitor the development of market conditions and revisit the bonds issue as soon as appropriate. (SingTao Daily B3)
Yue Yuen Industrial (551 HK)announces that its net consolidated operating revenue in June amounted to USD628,824,000. Net consolidated accumulative operating revenue for the six months ended 30th June amounted to USD3,487,506,000. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Honghua Group (196 HK) announced that the company is expected to record an improvement in its profit this year, turning around to profit after a loss for 2010. This change is mainly due to a substantial increase of sales in land drilling rigs and components. (Sing Tao Daily B14)
After Hua Xia Healthcare (8143 HK) acquired Huihao Group in Fujian Province, the company has focused on pharmaceutical wholesale, distribution, and retail businesses instead of general hospital services. The company has announced that its pharmaceutical business has gained 92 percent of its total revenue and it will further seek opportunities in Fujian Province, China. (Sing Tao Daily B14)
Li Ning (2331 HK) issued a profit warning saying that the company’s same store sales have significantly slowed down and its growth of quarterly orders has sharply dropped. The company will likely record a loss in annual profit this year. (Hong Kong Economic Journal P5)
Standard Chartered PLC (2888 HK) plans to close around 43 branches in South Korea. Workers at SC First Bank have launched an indefinite strike over wage plan in South Korea and the strike has affected the bank’s normal operation. (Hong Kong Economic Times A12)
Angang Steel (347 HK) expects its net profit attributable to shareholders to drop to around RMB220 million for the six months ended 30 June, a yoy decrease of about 92%, primarily due to the jump in the prices of raw materials and fuels. (Hong Kong Economic Times A8)
BaWang International (1338 HK) preliminarily estimates that its results for the first half would book a loss, which is mainly in connection with the “dioxane incident”. (Hong Kong Economic Journal P17)
China Dongxiang (3818 HK) expects its revenue for the six month period ended 30 June to decline by approximately 45% as compared with the corresponding period in 2010 and the margin of profit attributable to shareholders to retreat to roughly 17–19% owing to excess inventory. (Hong Kong Economic Journal P17)
China ITS (1900 HK) says, with the investors’ best interests in mind, it has decided to postpone a plan to issue CNY denominated bonds but will closely monitor the development of market conditions and revisit the bonds issue as soon as appropriate. (SingTao Daily B3)
Yue Yuen Industrial (551 HK)announces that its net consolidated operating revenue in June amounted to USD628,824,000. Net consolidated accumulative operating revenue for the six months ended 30th June amounted to USD3,487,506,000. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Friday, July 8, 2011
Hong Kong Stock Market Wrap July 7th, 2011
Birmingham International (2309 HK) announced that the indictable offence against Mr. Yang Ka Sing, Carson is in no way related to the company. Mr. Yang Ka Sing, Carson was allegedly indicted on money laundering charge. (Hong Kong Economic Times A12)
China Infrastructure Investment (600 HK) says it will dispose Pan-China Commercial Square in Hunnan New District, Shenyang, to Amazing Glory for an aggregate cash consideration of HK$582.7 million. (SingTao Daily B2)
China Overseas Land and Investment Ltd. (688 HK) announced that the total contract sales for the first six months in 2011 amounted to HK$52.23 billion, or up 86 percent year-on-year. The sales area was 3,072 million square meters, or up 38 percent. (Hong Kong Economic Times A12)
Trading in the shares of Cosway Corporation (288 HK) has been suspended with effect from yesterday afternoon. The company released an announcement writing that a controlling shareholder will put forth a privatisation proposal. (SingTao Daily B2)
Glorious Property Holdings (845 HK) booked 1H and June sales of 7.1b yuan and 2.01b yuan, up 1.51x and 1.25x yoy respectively. (SingTao Daily B2)
Industrial and Commercial Bank of China (ICBC)’s (1398 HK) Sydney Branch issued AUD 400 million (USD426 million, approximately HKD3.3 billion) and 3-year kangaroo bonds at 105 basis points over the bank bill swap rate (BBSW). (Hong Kong Economic Journal P11)
Hong Kong Exchanges and Clearing Limited (388 HK) announced that it will introduce a T+2 Finality arrangement for money settlement in CCASS, the Central Clearing and Settlement System for the Hong Kong securities market, on Monday, 25 July 2011. (Hong Kong Economic Times A12)
Pearl River Tyre’s (1187 HK) controlling shareholders Pacific Union and Kuala Lumpur Kepong Berhad are currently under negotiation with an independent third party in respect of a disposal of their shareholding interests in Pearl River Tyre. (SingTao Daily B2)
Shui On Land (272 HK) reported contracted sales of RMB5.2b in the 1H, up 250pc yoy. The shares dropped 0.87pc yesterday. (SingTao Daily B2)
TCL Communication Technology (2618 HK) expects that its net profit will see a significant increase for the first half of 2011 as compared to the net profit of HK$250 million in the same period last year. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Infrastructure Investment (600 HK) says it will dispose Pan-China Commercial Square in Hunnan New District, Shenyang, to Amazing Glory for an aggregate cash consideration of HK$582.7 million. (SingTao Daily B2)
China Overseas Land and Investment Ltd. (688 HK) announced that the total contract sales for the first six months in 2011 amounted to HK$52.23 billion, or up 86 percent year-on-year. The sales area was 3,072 million square meters, or up 38 percent. (Hong Kong Economic Times A12)
Trading in the shares of Cosway Corporation (288 HK) has been suspended with effect from yesterday afternoon. The company released an announcement writing that a controlling shareholder will put forth a privatisation proposal. (SingTao Daily B2)
Glorious Property Holdings (845 HK) booked 1H and June sales of 7.1b yuan and 2.01b yuan, up 1.51x and 1.25x yoy respectively. (SingTao Daily B2)
Industrial and Commercial Bank of China (ICBC)’s (1398 HK) Sydney Branch issued AUD 400 million (USD426 million, approximately HKD3.3 billion) and 3-year kangaroo bonds at 105 basis points over the bank bill swap rate (BBSW). (Hong Kong Economic Journal P11)
Hong Kong Exchanges and Clearing Limited (388 HK) announced that it will introduce a T+2 Finality arrangement for money settlement in CCASS, the Central Clearing and Settlement System for the Hong Kong securities market, on Monday, 25 July 2011. (Hong Kong Economic Times A12)
Pearl River Tyre’s (1187 HK) controlling shareholders Pacific Union and Kuala Lumpur Kepong Berhad are currently under negotiation with an independent third party in respect of a disposal of their shareholding interests in Pearl River Tyre. (SingTao Daily B2)
Shui On Land (272 HK) reported contracted sales of RMB5.2b in the 1H, up 250pc yoy. The shares dropped 0.87pc yesterday. (SingTao Daily B2)
TCL Communication Technology (2618 HK) expects that its net profit will see a significant increase for the first half of 2011 as compared to the net profit of HK$250 million in the same period last year. (Hong Kong Economic Times A12)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Thursday, July 7, 2011
Hong Kong Stock Market Wrap July 6th, 2011
Asia Cement (China) (743 HK) expects its net profit will see a remarkable increase of 3.5x to reach RMB600 million for the six months ended 30 June 2011. The improvement in output and sales and full production of plants in Sichuan, Jiangxi and Hubei Provinces help lift the profit up. (Hong Kong Economic Times A9)
China CITIC Bank Corporation (998 HK) announces the final results of its A share rights issue. A total of 99.01% of the total A shares available for subscription were validly subscribed for, raising proceeds with a total amount of RMB17,561,162,871.72. (SingTao Daily B4)
Chigo (449 HK) announced that the company’s net profit for the first half of 2011 will experience a significant loss as compared with the same period last year. The loss is mainly attributable to the decrease in subsidies from the government’s energy plan. (Hong Kong Economic Times A9)
Kam Hing International (2307 HK) says it is expected to record an increase in the net profit of more than double for the six months ended 30 June 2011, mainly due to the development and expansion of its distribution channel and network and the improvement of average selling price of its fabric. (SingTao Daily B3)
Lee & Man Holding (746 HK) expects its net profit for the first six months would increase significantly, mainly attributable to the commencement of operation for the 4th production line of chloromethane products as well as the increase in selling prices of its products. The shares rose over 4.25pc yesterday. (SingTao Daily B3)
NWS Holdings Ltd. (659 HK) plans to issue 3-year and around 3 percent offshore Renminbi bonds in Hong Kong. The aggregate amount of this issuance has yet to be announced. (Hong Kong Economic Times A9)
Rainbow Brothers (33 HK) expects its interim results for the 6 months ended June 30, 2011 may show a loss as compared to the profit booked for the 6 months ended June 30, 2010. Hui Kwan Wah, Hugo has resigned as its executive chairman. (SingTao Daily B4)
Tencent (700 HK) bought 15.68 percent equity interest in Kingsoft (3888) to expand online security business. Tencent is expected to become the biggest sole shareholder for Kingsoft after the completion of this trading. (Hong Kong Economic Times A9)
Xpress Group (185 HK) announced to offer shares based on three offer shares for every twenty existing shares held. The new shares issued will not be less than 396 million at a price of HK$0.11 per offer share. The company proposes to raise HK$43.57 million. (Hong Kong Economic Journal P8)
Zhuzhou CSR Times Electric (3898 HK) expects a significant increase in profit for the six months ended 30 June 2011 as compared to the profit recorded in the corresponding period in 2010, mainly attributable to the increase in its sales volume. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China CITIC Bank Corporation (998 HK) announces the final results of its A share rights issue. A total of 99.01% of the total A shares available for subscription were validly subscribed for, raising proceeds with a total amount of RMB17,561,162,871.72. (SingTao Daily B4)
Chigo (449 HK) announced that the company’s net profit for the first half of 2011 will experience a significant loss as compared with the same period last year. The loss is mainly attributable to the decrease in subsidies from the government’s energy plan. (Hong Kong Economic Times A9)
Kam Hing International (2307 HK) says it is expected to record an increase in the net profit of more than double for the six months ended 30 June 2011, mainly due to the development and expansion of its distribution channel and network and the improvement of average selling price of its fabric. (SingTao Daily B3)
Lee & Man Holding (746 HK) expects its net profit for the first six months would increase significantly, mainly attributable to the commencement of operation for the 4th production line of chloromethane products as well as the increase in selling prices of its products. The shares rose over 4.25pc yesterday. (SingTao Daily B3)
NWS Holdings Ltd. (659 HK) plans to issue 3-year and around 3 percent offshore Renminbi bonds in Hong Kong. The aggregate amount of this issuance has yet to be announced. (Hong Kong Economic Times A9)
Rainbow Brothers (33 HK) expects its interim results for the 6 months ended June 30, 2011 may show a loss as compared to the profit booked for the 6 months ended June 30, 2010. Hui Kwan Wah, Hugo has resigned as its executive chairman. (SingTao Daily B4)
Tencent (700 HK) bought 15.68 percent equity interest in Kingsoft (3888) to expand online security business. Tencent is expected to become the biggest sole shareholder for Kingsoft after the completion of this trading. (Hong Kong Economic Times A9)
Xpress Group (185 HK) announced to offer shares based on three offer shares for every twenty existing shares held. The new shares issued will not be less than 396 million at a price of HK$0.11 per offer share. The company proposes to raise HK$43.57 million. (Hong Kong Economic Journal P8)
Zhuzhou CSR Times Electric (3898 HK) expects a significant increase in profit for the six months ended 30 June 2011 as compared to the profit recorded in the corresponding period in 2010, mainly attributable to the increase in its sales volume. (SingTao Daily B3)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Wednesday, July 6, 2011
Hong Kong Stock Market Wrap July 5th, 2011
Café De Coral (341 HK) plans to march into Hong Kong’s bakery market. The company announced that it will open Hong Kong’s first 85 ℃ store in September. The company will inject around HK$50 million into the coming 25 branches in Hong Kong over the next three years. (Hong Kong Economic Times A12)
China Gogreen Assets Investment (397 HK) says it is expected that its net loss for the six months ended 30 June may record a significant increase, mainly attributable to unrealized losses arising on change in fair value of its held-for-trading investments. (SingTao Daily B2)
China Forestry Holdings (930 HK) announces that Hsu Wai Man Helen has been appointed as an independent non-executive director and an additional member of the audit committee with effect from 5 July. Hsu has also been appointed as the chairlady of the audit committee in place of Wong Tak-jun, who has retired from his position as the chairman of the audit committee with effect from the same date. (SingTao Daily B2)
China Resources Land (1109 HK) announced that its sales revenue amounted to RMB4.06 billion in June 2011, or up 3x against the same period last year. (Hong Kong Economic Journal P9)
Loudong General Nice Resources (988 HK) announced that the company will complete acquisition of 30 percent equity interest in Shanxi Linxian Taiye Coal Mining Company Limited. This acquisition will facilitate the operation of coking coal chains and provide stable resources for the company. (Hong Kong Economic Journal P9)
Modern Beauty Salon (919 HK) plans to acquire the entire equity interest in Zegna Management at a consideration of HK$250 million. The company hopes its beauty products will serve as growth points for sales revenue. (Hong Kong Economic Times A12)
New Heritage Holdings (95 HK) announces an issue of HK$75 million 6 per cent 3-year convertible notes at a conversion price of HK$1.10 each. Asia Financial will subscribe HK$50 million and Asia Insurance will subscribe HK$25 million. (SingTao Daily B2)
New World Department Store (825 HK) China entered into an agreement yesterday to dispose a company holding a property at Zhongshan Road, Wuxi City, Jiangsu to an independent third party at a consideration of RMB45,000,000. (SingTao Daily B2)
Sino Oil and Gas (702 HK) plans to issue an aggregate principal amount of HK$468 million convertible bonds with three independent third parties. The initial conversion price is set at HK$0.5 per share. (Hong Kong Economic Journal P9)
Tack Fat Group International (928 HK) has filed an injunction application to the High Court against Sansar Capital Master Fund, Sansar Capital Special Opportunity Master Fund, Sansar Capital Management LLC and HKSCC Nominees Limited seeking an injunction with the effect of restraining the said entities from voting against certain resolutions in respect of the proposed restructuring of Tack Fat Group International to be voted on at the EGM. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
China Gogreen Assets Investment (397 HK) says it is expected that its net loss for the six months ended 30 June may record a significant increase, mainly attributable to unrealized losses arising on change in fair value of its held-for-trading investments. (SingTao Daily B2)
China Forestry Holdings (930 HK) announces that Hsu Wai Man Helen has been appointed as an independent non-executive director and an additional member of the audit committee with effect from 5 July. Hsu has also been appointed as the chairlady of the audit committee in place of Wong Tak-jun, who has retired from his position as the chairman of the audit committee with effect from the same date. (SingTao Daily B2)
China Resources Land (1109 HK) announced that its sales revenue amounted to RMB4.06 billion in June 2011, or up 3x against the same period last year. (Hong Kong Economic Journal P9)
Loudong General Nice Resources (988 HK) announced that the company will complete acquisition of 30 percent equity interest in Shanxi Linxian Taiye Coal Mining Company Limited. This acquisition will facilitate the operation of coking coal chains and provide stable resources for the company. (Hong Kong Economic Journal P9)
Modern Beauty Salon (919 HK) plans to acquire the entire equity interest in Zegna Management at a consideration of HK$250 million. The company hopes its beauty products will serve as growth points for sales revenue. (Hong Kong Economic Times A12)
New Heritage Holdings (95 HK) announces an issue of HK$75 million 6 per cent 3-year convertible notes at a conversion price of HK$1.10 each. Asia Financial will subscribe HK$50 million and Asia Insurance will subscribe HK$25 million. (SingTao Daily B2)
New World Department Store (825 HK) China entered into an agreement yesterday to dispose a company holding a property at Zhongshan Road, Wuxi City, Jiangsu to an independent third party at a consideration of RMB45,000,000. (SingTao Daily B2)
Sino Oil and Gas (702 HK) plans to issue an aggregate principal amount of HK$468 million convertible bonds with three independent third parties. The initial conversion price is set at HK$0.5 per share. (Hong Kong Economic Journal P9)
Tack Fat Group International (928 HK) has filed an injunction application to the High Court against Sansar Capital Master Fund, Sansar Capital Special Opportunity Master Fund, Sansar Capital Management LLC and HKSCC Nominees Limited seeking an injunction with the effect of restraining the said entities from voting against certain resolutions in respect of the proposed restructuring of Tack Fat Group International to be voted on at the EGM. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Tuesday, July 5, 2011
Hong Kong Stock Market Wrap July 4th, 2011
Asia Cassa Va Resources (841 HK) announced that for the year ended March 31 2011, the company’s net profit decreased by 18 percent to HK$82,71 million. Its annual revenue went up by 1 percent. (Hong Kong Economic Times A10)
Bel Global Resources (761 HK) says there will be a delay in the publication of its annual results announcement. As it requires additional time to gather further information for auditors to perform and complete audit procedures, it is expected that the announcement will have to be delayed to on or before 29 July. (SingTao Daily B2)
Sources report that China Eastern Airlines (670 HK) plans to issue dim sum bonds in Hong Kong with a maximum size of up to RMB8 billion. (Hong Kong Economic Times A10)
Intime Department Store Ltd (1833 HK) announced that for the six months ended 30 June 2011, the company recorded sales revenue up to RMB5.44 billion, or up 38.8 percent year-on-year. Its same store sales went up by 28.4 percent. (Hong Kong Economic Times A10)
Jingwei Textile Machinery Company (350 HK) estimates its profit for the first half of 2011 to increase by 825% to 996% as compared to the same period last year. (SingTao Daily B2)
Ngai Lik Industrial (332 HK) suffered from a loss of HK$104 million for the year ended 31 March. It did not recommend the payment of a final dividend. (SingTao Daily B4)
Nine Dragons Paper (2689 HK) has entered into a Loan agreement of RMB1 billion with China Development Bank. The proceeds from this will be applied for repaying existing loans and business operation. (Hong Kong Economic Journal P6)
Shimao Property (813 HK) announced for the six months ended June 30, 2011, the company realized contract sales of RMB14,252 million, or up 26 percent contrasted with the same period last year. The contract sales area amounted to 1.093 million square meters. (Hong Kong Economic Journal P6)
Sino-Tech International (724 HK) says although it is expected to record a loss for the six months ended 30 June due to factors such as the operating loss on the electronic products segment, it considers its financial position remains satisfactory. (SingTao Daily B2)
Zijin Mining Group (2899 HK) announces that its subsidiaries Xinyi Zijin Mining and Xinyi Baoyuan Mining have recently received notices of response to proceedings issued by the Guangdong Province Xinyi City People’s Court, notifying them that the People’s Court has determined that it will hear the proceedings commenced by Xinyi City Qianpai Town Qingyuan water supply plant and 310 villagers against defendants including Xinyi Zijin and Xinyi Baoyuan in relation to a claim of compensation for loss of property. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Bel Global Resources (761 HK) says there will be a delay in the publication of its annual results announcement. As it requires additional time to gather further information for auditors to perform and complete audit procedures, it is expected that the announcement will have to be delayed to on or before 29 July. (SingTao Daily B2)
Sources report that China Eastern Airlines (670 HK) plans to issue dim sum bonds in Hong Kong with a maximum size of up to RMB8 billion. (Hong Kong Economic Times A10)
Intime Department Store Ltd (1833 HK) announced that for the six months ended 30 June 2011, the company recorded sales revenue up to RMB5.44 billion, or up 38.8 percent year-on-year. Its same store sales went up by 28.4 percent. (Hong Kong Economic Times A10)
Jingwei Textile Machinery Company (350 HK) estimates its profit for the first half of 2011 to increase by 825% to 996% as compared to the same period last year. (SingTao Daily B2)
Ngai Lik Industrial (332 HK) suffered from a loss of HK$104 million for the year ended 31 March. It did not recommend the payment of a final dividend. (SingTao Daily B4)
Nine Dragons Paper (2689 HK) has entered into a Loan agreement of RMB1 billion with China Development Bank. The proceeds from this will be applied for repaying existing loans and business operation. (Hong Kong Economic Journal P6)
Shimao Property (813 HK) announced for the six months ended June 30, 2011, the company realized contract sales of RMB14,252 million, or up 26 percent contrasted with the same period last year. The contract sales area amounted to 1.093 million square meters. (Hong Kong Economic Journal P6)
Sino-Tech International (724 HK) says although it is expected to record a loss for the six months ended 30 June due to factors such as the operating loss on the electronic products segment, it considers its financial position remains satisfactory. (SingTao Daily B2)
Zijin Mining Group (2899 HK) announces that its subsidiaries Xinyi Zijin Mining and Xinyi Baoyuan Mining have recently received notices of response to proceedings issued by the Guangdong Province Xinyi City People’s Court, notifying them that the People’s Court has determined that it will hear the proceedings commenced by Xinyi City Qianpai Town Qingyuan water supply plant and 310 villagers against defendants including Xinyi Zijin and Xinyi Baoyuan in relation to a claim of compensation for loss of property. (SingTao Daily B2)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Hong Kong Stock Market Wrap June 30th, 2011
Get Nice Holdings (64 HK) announced that for the year ended 31 March 2011, its net profit increased by 15 percent year-on-year to HK$258 million with earnings per share of HK6.02 cents. The company announced a final dividend of HK1 cent per share. (Sing Tao Daily B10)
Li & Fung (494 HK) disposed of medical equipment businesses in East Malaysia, Indonesia, Singapore and West Malaysia to its major subsidiaries for a total cash consideration of US$57.7 million (around HK$450 million). (Hong Kong Economic Times A12)
Ping An Insurance Company (2318 HK) has sold stake in Value Partners (806) involving 56 million shares of up to HK$350 million at an indicative price of HK$6.06-HK$6.33 each, representing a discount of 5-9 percent to the pre-deal market price. (Hong Kong Economic Journal P5)
Skyworth Digital (751 HK) announced that the company has met 14 percent of sales target this year. The company does not exclude any cooperation opportunities with channel partners and more business expansion overseas. (Sing Tao Daily B10)
Uni-Bio Science Group (690 HK) announced that the company recorded a loss of HK$185 million, or down 60 percent for the year ended 31 March 2011. No final dividend was announced. (Sing Tao Daily B10)
China Resources Microelectronics (597 HK) announces that China Resources (Holdings) is presently considering placing a privatisation proposal before it for a cash consideration of not less than HK$0.48 per share. (SingTao Daily B14)
Chinese People Holdings Company (681 HK) posted profit attributable to its owners for year 2011 of approximately HK$45.64 million, diving almost 85pc. (SingTao Daily B14)
Amax Holdings (959 HK) returned to the black and booked profit of HK$1.17 billion for the year ended 31 March 2011. (Hong Kong Economic Times A10)
Regal Hotels International Holdings (78 HK) announces that Faith Crown has agreed to sell 70% of the equity interest in a property complex project in Chengdu City to Paliburg and Regal at a consideration of HK$1,000 million. (SingTao Daily B14)
Vale SA (6210 HK) announces that it will establish a share buy-back program for common and preferred class A shares and American Depositary Receipts. The buyback is limited to a maximum of US$ 3.0 billion. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
Li & Fung (494 HK) disposed of medical equipment businesses in East Malaysia, Indonesia, Singapore and West Malaysia to its major subsidiaries for a total cash consideration of US$57.7 million (around HK$450 million). (Hong Kong Economic Times A12)
Ping An Insurance Company (2318 HK) has sold stake in Value Partners (806) involving 56 million shares of up to HK$350 million at an indicative price of HK$6.06-HK$6.33 each, representing a discount of 5-9 percent to the pre-deal market price. (Hong Kong Economic Journal P5)
Skyworth Digital (751 HK) announced that the company has met 14 percent of sales target this year. The company does not exclude any cooperation opportunities with channel partners and more business expansion overseas. (Sing Tao Daily B10)
Uni-Bio Science Group (690 HK) announced that the company recorded a loss of HK$185 million, or down 60 percent for the year ended 31 March 2011. No final dividend was announced. (Sing Tao Daily B10)
China Resources Microelectronics (597 HK) announces that China Resources (Holdings) is presently considering placing a privatisation proposal before it for a cash consideration of not less than HK$0.48 per share. (SingTao Daily B14)
Chinese People Holdings Company (681 HK) posted profit attributable to its owners for year 2011 of approximately HK$45.64 million, diving almost 85pc. (SingTao Daily B14)
Amax Holdings (959 HK) returned to the black and booked profit of HK$1.17 billion for the year ended 31 March 2011. (Hong Kong Economic Times A10)
Regal Hotels International Holdings (78 HK) announces that Faith Crown has agreed to sell 70% of the equity interest in a property complex project in Chengdu City to Paliburg and Regal at a consideration of HK$1,000 million. (SingTao Daily B14)
Vale SA (6210 HK) announces that it will establish a share buy-back program for common and preferred class A shares and American Depositary Receipts. The buyback is limited to a maximum of US$ 3.0 billion. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
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