Government of Singapore Investment Corp. (1898 HK) has injected HK$102 million for 291 million shares in China Coal Energy Company. The company’s stake holding in China Coal Energy Company has increased to 7.09 pc. (Singtao Daily B4)
An outflow accident of high temperature molten iron of one of Fosun International’s (656 HK) furnaces happened in Nanjing in the morning on 5 August, causing 11 dead, 1 missing and 1 injured. (Hong Kong Economic Journal A7)
GLC-Poly Energy Holdings Ltd. (3800 HK) announces that it has developed a new type of wafer “GCL Quasi-Mono Wafer”, which contributes to a part of its technologically innovative blue ocean strategy. This wafer has already been utilised by Canadian Solar, the strategic cooperation partner of the company, in the manufacturing of the “GCL-CSI” co-brand high efficiency 265W solar modules. (Singtao Daily B4)
Government of Singapore Investment Corp. (GIC) has overweighed 1.88 million shares in Li Ning Company at a consideration of HK$15 million on 30 September. GIC currently holds 63.64 million shares in Li Ning. (2331 HK) (Singtao Daily B4)
Standard Chartered (2888 HK) plans to enhance its onshore presence in Africa through the set-up of private bank and other businesses. Shayne Nelson, the CEO of StanChart's private bank, said that the tough regulation standards have asked private banks for more operating costs. (Singtao Daily B4)
Standard & Poor's Ratings Services cuts its long-term corporate credit rating on Chaoda Modern Agriculture (682 HK) to “BB-“ from “BB” and places the rating on CreditWatch with negative implications. (SingTao Daily B2)
Kaisa Group Holdings (1638 HK) posted contracted sales of RMB 2 billion in September, an increase of 219 percent. (SingTao Daily B2)
Mascotte Holdings (136 HK) announces a purchase of 49.9pc of the issued shares of Sun Mass Energy for HK$2,500,000,000. The latter after the deal will become its wholly owned subsidiary. (SingTao Daily B2)
Sinotrans (598 HK) issues 3.3pc 3-year dim sum bonds to raise RMB 2.6 billion. Banks arranging for the issue include Wing Lung Bank. (Hong Kong Economic Journal A4)
Walker Group (1386 HK) expects a loss for the 6 months ended 30 September 2011 mainly on escalating operating costs in China and HK such as rental rise. (Hong Kong Economic Journal B1)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
