Issue: March 02, 2006 (Archive)

Sunday, September 5, 2010

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SJM doubles IPO plan to US$1.9b
Sociedade de Jogos de Macau, a casino operator controlled by tycoon Stanley Ho, may almost double the size of its initial public offering in Hong Kong and list it shares earlier than expected.

Market grows skeptical about hedge funds' impact
A US$200 million (HK$1.56 billion) investment by The Children's Investment Fund (TCI) in local property developer Chinese Estates Holdings this week is unlikely to be the last foray into Hong Kong property stocks by the British-based hedge fund, analysts said.

Yuan leaps on capital signal
The yuan rose to its highest against the US dollar since last July's revaluation of the currency after reports that Beijing plans to make the yuan basically convertible under the capital account "soon."

Delay mars Pan Sino debut
Shares of Pan Sino International Holding, one of Indonesia's largest exporters of cocoa beans, slumped 16 percent after the company said construction of a cocoa processing plant had been delayed due to political uncertainty in the country.

CLP eyes building China power grids
CLP Holdings, the bigger of Hong Kong's two power utilities, may expand its business in China by building power grids, should foreign investors be allowed such investments in the mainland.

Yue Yuen to shift shoe orders with dump tax
Yue Yuen, which makes sports shoes for Nike and Reebok, said likely European Union anti-dumping duties on its mainland- and Vietnamese-made shoes would have a mild impact on the company because it could shift orders to its Indonesian factory.

Mainland slots match Macau takings
New slot machine lookalikes in the mainland are now generating as much gambling revenue as Macau's one- armed bandits, according to listed China LotSynergy, which is investing HK$980 million in the developer of the Chinese machines.

SHKP net tipped to surge 24pc
Sun Hung Kai Properties, Hong Kong's largest developer by market value, is expected to report first-half earnings rose by up to 24 percent, due to wider margins mainly underpinned by the luxury project, The Arch.

Zhaijisong Express in $200m IPO growth bid
Zhaijisong Express, China's fourth largest express delivery company by volume, plans to raise up to HK$200 million in an IPO, sources close to the deal said.

Sino Prosper to invest US$50m in Indonesian oil, bitumen project
Sino Prosper Holdings, a Hong Kong- listed energy and resources company, said it plans to invest US$50 million (HK$390 million) in a refined heavy oil and bitumen project in Indonesia.

Wheelock acquires luxury Mid-Levels site for $240m
Wheelock Properties, a mid-sized developer, which twice failed to trigger a land auction last year, has paid HK$240 million for a Mid-Levels site where it hopes to build boutique luxury apartments.

Minsheng new share issue to fund growth in expanding market
China Minsheng Banking Corp, the mainland's only privately controlled lender, plans to issue new shares to fund expansion as China opens its banking market, sources said.

Irregularities found in CCB Frankfurt, claims report
China's banking regulator found serious irregularities at China Construction Bank's Frankfurt branch during a spot inspection, the 21st Century Business Herald reported Wednesday, citing unnamed sources.

High rates clip Fubon net earnings
Fubon Bank (Hong Kong), the smallest listed lender in the city, said its net profit shrank 20 percent last year as high interbank rates pushed up its funding costs.

Swire in Festival Walk bond issue move
Swire Pacific has picked Morgan Stanley and HSBC to arrange a dual- currency bond issue that will help it acquire CITIC Pacific's 50 percent stake in their jointly owned Festival Walk shopping mall, market sources said.

Brawling foreigners face boot
China may deport foreigners who buy or sell sex, steal or get involved in fights under new laws that came into effect Wednesday, state newspapers reported.

Hundreds held ahead of NPC
Hundreds of people have been detained as authorities crack down on dissent before the National People's Congress, petitioners and a rights lawyer said.

Shipyard boom raises fears of glut
China's shipbuilders plan to double production capacity by 2010, threatening a glut that may cut profits at Hyundai Heavy Industries, the world's biggest builder, and other South Korean yards.

Exports drive pace of output
Mainland manufacturing activity increased in February for a third straight month, buoyed by rising export orders.

Homemade passenger jet for 2008 test
China will test fly its first homemade commercial jet in 2008, state press said Wednesday, a feat that will bring the country one step closer to achieving its goal of becoming an aviation power.

Fears mount over Chen's Games ace
Taipei's abolition of an advisory council on unifying the island with the mainland has heightened fears in Beijing that Taiwan President Chen Shui-bian may push for independence ahead of the 2008 Olympics, analysts said.

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