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
