Alibaba Group (1688 HK) intends to buy back 40 pc stake, valued around US$13 billion, from Yahoo, a big shareholder of the group. Alibaba has talked with Singapore's Temasek Holdings Pte about providing financing to buy the stake and Temasek can overweigh its stake in the group after the close of this transaction. (Hong Kong Economic Journal A9)
Fiyta Holdings, subsidiary of CATIC Shenzhen (161 HK), announces that its earnings for the first 9 months this year amounted to RMB 137,000,000, up 10pc yoy. EPS was approximately RMB 0.34. (SingTao Daily B5)
CDC Corporation (8006 HK), controlling shareholder of China.com Inc., has filed for bankruptcy protection in the US. The shares of China.com Inc. ended at HK$2.04 each, falling 7.3pc. (SingTao Daily B5)
China New Town Development (1278 HK) announces that 2 land parcels for residential use in Shanghai Luodian project were listed by the Shanghai Municipal Bureau of Planning and Land Resources last Saturday. (SingTao Daily B5)
Sinopec (386 HK) agreed to buy a Canadian company, Daylight Energy Ltd. for C$2.2 billion (around HK$16,685 million). Daylight’s 69 oil and gas fields are located at the Northwest of Alberta and the Northeast of British Columbia and produce around 38,000 barrels of oil equivalent per day in the first half of 2011. (Hong Kong Economic Times A12)
Fairwood Holdings (52 HK) expects its same store sales in Hong Kong to grow 5-6 pc this year and its Mainland revenue to record a double-digit increase. The company plans to open around four new stores in Hong Kong and Mainland China. (Hong Kong Economic Times A12)
GCL-Poly Energy Holdings Ltd. (3800 HK) has signed a 5-year letter of intent of supply 1GW of “GCL Quasi-Mono Wafer” to Tainergy Tech. It is a part of the strategic cooperation for the both in priority purchase of raw materials and cooperative subcontracting on solar related areas. (Hong Kong Economic Times A12)
HSBC Holdings (5 HK) agreed to sell a 94 percent stake in its Hungarian consumer finance portfolio through its subsidiary HSBC Credit Zrt. to Cofidis Magyarországi Fióktelepe. The transaction, valuing the gross assets of the portfolio at US$27 million as of August 31, 2011, is expected to finish in first-quarter 2012. (Hong Kong Economic Journal A9)
Milan Station (1150 HK)announces that during the Golden Week it recorded an increase in sales of 36.2pc, reaching HK$22 million. (SingTao Daily B5)
Shandong Chenming Paper (1812 HK) announced yesterday that Wang Zaiguo and Zhao Liqun had resigned as its deputy general managers taking effect on yesterday by reason of family matters respectively. (SingTao Daily B5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
