Cheung Kong Infrastructure (1038 HK) announces a disposal of its entire equity interest in Cambridge Water to HSBC. The consideration is £45.9 million, equivalent to around HK$588.4 million. (SingTao Daily B2)
China Overseas Grand Oceans Group (81 HK) announced its half-year net profit for 2011 increased by 14x to HK$804 million. The company proposed bonus share issue on the basis of one bonus share for every two existing shares in the company. (Hong Kong Economic Journal P4)
CR Snow Breweries, a subsidiary of China Resources Enterprise (291 HK), announced it had acquired the remaining equity interests in two Zhejiang brewers including 55 percent of interest in Hangzhou Xihu Beer Asahi Co. Ltd, a joint venture between Japanese firms Asahi Breweries Co. Ltd. and Itouchu Corp. The total consideration for this acquisition is RMB300 million. (Hong Kong Economic Journal P4)
China Timber Resources (269 HK) plans to issue HK$2 billion and 9 percent convertible bonds. These bonds will be due 2014. (Hong Kong Economic Times A8)
G-Prop (286 HK) says it is expected that its 1H results will return to the black, chiefly attributable to an unrealized exchange gain of its investment arisen from the floating rate notes which are denominated in euro. (SingTao Daily B2)
Huafeng Group (364 HK) announces that it will sell a company, principally engaged in the provision of fabric processing services, to independent third parties for a total consideration of HK$103.2 million. (SingTao Daily B2)
Hutchison Harbour Ring (715 HK) booked profit attributable to the shareholders of HK$43.5 million and basic EPS of HK0.48 cents for the 6 months ended 30 June 2011. It does not recommend the payment of an interim dividend. (SingTao Daily B2)
KWG Property’s (1813 HK) presales in July 2011 amounted to RMB1 billion, or up 68 percent year-on-year. The company’s presales for the first seven months reached RMB7.54 billion. (Hong Kong Economic Journal P4)
Sinotrans Limited (598 HK) signed contracts yesterday as the buyer regarding the construction of two 1800-TEU container vessels for a total consideration of RMB318,000,000. (SingTao Daily B2)
Skyfame Realty (59 HK) has planned to dispose of 50 percent of the issued share capital of its Guangzhou projects and 50 percent of the shareholder’s loan to HNA Commercial, a subsidiary of HNA Hotel Holdings Group Co. Limited. The total consideration for the proposed disposal is RMB1,300 million. (Hong Kong Economic Journal P4)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
