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Z-Obee says final review process by Hong Kong Exchange for dual listing suspended

December 22nd, 2009 | No Comments

Z-Obee Holdings, the China-based designer and manufacturer of mobile phones, has been informed by sponsor SinoPac Securities (Asia) that the final review process in its application for a dual-listing on the Mainboard of the Stock Exchange of Hong Kong has been suspended.

“Due to concerns by Hong Kong regulators over the recent price fluctuations of the shares of companies listed on the SEHK by way of introduction, SEHK has temporarily suspended such listings on the SEHK while the Hong Kong regulators identify ways to address the issue,” says Z-Obee in the SGX statement.

Smog sinks Hong Kong’s famous skyline

December 17th, 2009 | No Comments

On top of Victoria Peak in Hong Kong, groups of tourists find themselves staring down at an apocalyptic vision of a towering city shrouded in a menacing grey smog. The haze blurs one of the world’s most famous skylines and veils the ships dotting the harbour, disappointing visitors who made

Sunway to delist Singapore shares on volume, retain Hong Kong

December 14th, 2009 | No Comments

Sunway International Holdings, a maker of consumer electronics, plans to delist its shares from the Singapore stock exchange because of “low” trading volumes, according to a statement.

The company will maintain a primary listing on the Hong Kong Stock Exchange, the statement said today.

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Hong Kong Exchanges, Singapore Exchange raised at Credit Suisse

December 10th, 2009 | No Comments

Hong Kong Exchanges & Clearing and Singapore Exchange were upgraded to “outperform” at Credit Suisse Group AG, which said rising equity markets and healthy liquidity conditions will boost turnover.

Hong Kong Exchanges was previously rated “underperform” while Singapore Exchange was rated “neutral” at the brokerage.

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China XLX Fertiliser jumps in Hong Kong, cites â€˜insufficientâ€™ share supply

December 9th, 2009 | No Comments

China XLX Fertiliser shares rose 82% in their first day of trading in Hong Kong yesterday compared with the company’s close the previous day in Singapore, and an executive said not enough shares were on the market.

Stephan Yao, director of investor relations at China XLX Fertiliser, said there was “an insufficient quantity” of the company’s shares available to Hong Kong investors. “It takes time for the company’s shares to be transferred from Singapore to Hong Kong,” Yao said by phone yesterday. He expects trading conditions to “return to normal” within two weeks.

China XLX Fertiliser to start trading tomorrow on Hong Kong Stock Exchange

December 7th, 2009 | No Comments

China XLX Fertiliser (1866.HK; CXLX.SG) says its shares on the Hong Kong Stock Exchange (HKEx) will start trading tomorrow at 9:30 a.m. local time in board lots of 1,000 each. The closing price China XLX Fertiliser on the SGX was 51 cents (HK$2.836) last Friday.

China XLX is one of the leading coal-based urea and compound fertiliser producers in China. Its production capacity of urea was about 1.25 million tonnes per annum as of Sept 30. The company was the largest in Henan Province and the 4th largest among all other coal-based urea producers in China. The production capacities of other main products of the company are 600,000 tonnes for compound fertilisers and 200,000 tonnes for methanol per annum.

Bourdy beats McIlroy in Hong Kong

November 16th, 2009 | No Comments

Frenchman Gregory Bourdy produced a three-under-par 67 to win the co-sanctioned Hong Kong Open by two strokes from Rory McIlroy on Sunday. Overnight leader Bourdy finished on a 19-under-par total of 261 at Fanling for his third European Tour title and a cheque for â‚¬279,288 (Dh1.52bn). It also

Hong Kong’s old airport set for multi-billion dollar takeoff

October 1st, 2009 | No Comments

It’s probably the most valuable strip of derelict land in the world. The defunct Kai Tak airport sits right in Hong Kong’s Victoria Harbour and is estimated to be worth up to $40 billion -the equivalent, experts say, of around 30 of the world’s tallest skyscrapers. “It is a jewel,” said

Hong Kong named world’s spam capital

September 11th, 2009 | No Comments

Hong Kong is under siege from “zombies” attacking people with spam and leaving a trail of destruction costing millions of dollars a year, analysts have warned. It sounds like the plot of a B-movie but it is the worrying scenario computer users are facing in a city which has been awarded the

Hong Kong hopes

August 10th, 2009 | No Comments

Hong Kong’s economy may be improving

Recent economic data show that the Hong Kong economy is continuing to contract, but also that economic stimulus packages being implemented both locally and internationally, coupled with large liquidity inflows connected to the resumption of initial public offerings (IPOs) on the Hong Kong market, are supporting the domestic economy. However, despite the apparent appearance of “green shoots”, the economy will continue to struggle for the next few quarters. Unemployment continues to rise, retail sales remain weak and external trade is still depressed.

Recent data releases continue to reveal signs of economic weakness. The continued slump can be seen in retail sales data, which showed a 4.8% year-on-year fall in June in value terms, and a 5.4% dip in volume terms. Large year-on-year falls in retail sales by volume were recorded for motor vehicles and parts (down by 15.2%), apparel (by 10.6%) and jewellery, watches, clocks and valuable gifts (by 8.2%). …