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