Wednesday, October 12, 2011

Hong Kong Stock Market Wrap Oct. 11th, 2011

AIA (1299 HK) will inject over HK$100 million each year into its training program, AIA Premier Academy, to attract talents into the team. AIA Group will offer to grant share options to certain employees under its share option scheme adopted in August 2011. (Hong Kong Economic Times A12)

Changsha Zoomlion Heavy Industry Science and Technology Development (1157 HK) estimates that from 1 January 2011 to 30 September 2011 net profits attributable to the parent company amounted to RMB5,800 million to RMB6,000 million, up 86% to 92% yoy. (SingTao Daily B7)

Sinopec Corp., (386 HK) and Russia's top petrochemical holding company SIBUR signed a memorandum for two planned joint ventures for the production of butadiene nitrile rubber in the cities of Krasnoyarsk and Shanghai. The production capacity of the Krasnoyarsk rubber plant in Russia will be increased to 56,000 metric tons per year from 41,000 metric tons per year, while the Shanghai plant aims to expand an annual production of 50,000 metric tons. (Hong Kong Economic Times A12)

Emperor Watch & Jewellery (887 HK) has started discussion with independent third parties on possible investment opportunities to expand its existing business. With the talk being at a preliminary stage, no formal written agreement has been entered into. (SingTao Daily B7)

Hidili Industry International Development (1393 HK) announces that, for the three months ended 30 September 2011, the sales volume of clean coal rose 21% to 443 thousand tonnes while that of coke slid 55% to 40 thousand tonnes. (SingTao Daily B7)

Maoye International (848 HK) recorded a significant increase in concessionaire sales of 49.45 pc including a 23 pc growth in same store sales for the first three quarters this year. (Hong Kong Economic Times A12)

Before gaining the approval from shareholders on a separate listing of its Business Trust, PCCW (8 HK) chairman Richard Li injected HK$11.92 million to overweigh 4.14 million shares in the company yesterday. (Hong Kong Economic Journal A8)

Tianneng Power International Ltd. (819 HK) slashed the selling price of its battery products by 6-7 pc in average. The company noted that the decline in cost far exceeded the decrease in selling prices and expected its profitability will not be affected. (Hong Kong Economic Times A8)

Unity Investments announces (913 HK) a rights issue at a subscription price of HK$0.1 a rights share on the basis of 2 rights shares for every share held to raise funds for general working capital and future investments. (SingTao Daily B7)

Vital Group Holdings (1164 HK) is engaged in negotiations regarding a potential continuing connection transaction in relation to trading of natural uranium materials with an associate of China Uranium Development. No written agreement or MOU has been entered into. (SingTao Daily B7)

Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard