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
