Burwill Holdings (24 HK) announces that Miao Gengshu and Sze Tsai Ping, Michael resigned as its independent non-executive director and non-executive director respectively, with effect from 1 October. (Hong Kong Economic Journal B1)
China Agrotech Holdings Ltd. (1073 HK) announced that for the six months ended 30 June 2011, its net profit increased by 325 pc to HK$127 million. The basic earnings per share were HK18.49 cents. No dividend was announced. (SingTao Daily B2)
China Everbright International (257 HK) said yesterday that both the Jinan Reusable Water Project and Zibo Reusable Water Project (“Zibo Project”) Phase I have commenced operation last month. These two projects reach daily water supply capacity of 47,000 m3 for industrial use. The company noted that the projects will serve as the profit driver as they progress from the internal water use to the external water supply. (SingTao Daily B3)
Dah Chong Hong (1828 HK) announces that, with effect from 1 January next year, chairman and executive director Hui Ying Bun will be re-designated as its non-executive director but will remain as its chairman. (Hong Kong Economic Times A12)
JP Morgan revises its price target for Hang Seng Bank (11 HK) down from HK$110 to HK$105. (Hong Kong Economic Times A12)
HSBC (5 HK) has agreed through HSBC Capital (Canada) to dispose its Canadian private equity fund management and mezzanine debt business. The business being sold had gross assets of roughly C$2m at the end of June this year. Completion of the deal is expected in the fourth quarter. (Hong Kong Economic Journal A7)
Silver Base Group (886 HK) forecasts a significant increase in its interim profit for the six months ended 30 September 2011 as compared with the corresponding period in last year. The company reported a profit of HK$215 million in the interim result in last year. (SingTao Daily B5)
Sinotrans Shipping (368 HK) has entered into an agreement with BOCI Asia, agreeing to purchase and pay for RMB280,000,000 aggregate principal amount of 3.3 per cent notes due 2014 issued by a wholly owned subsidiary of its parent. (Hong Kong Economic Times A12)
The Bank of East Asia (23 HK) said it has established a program allowing it to issue up to US$3 billion worth of medium term notes. The bank noted in a statement yesterday that this issuance “as a platform will enable it to achieve greater flexibility and diversity in asset and liability management” in a medium to long term. (SingTao Daily B4)
Yorkey Optical International (Cayman) (2788 HK) will establish a Joint Venture (JV) with PBL in Brazil. The JV intends to engage in the manufacture and sale of optical and opto-electronic products. (SingTao Daily B5)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
