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
