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• Asian Development Bank forecasts the GDP growth for 2010. China would be 8.9%; Hongkong would be 3.5%; Taiwan would be 3.5%; Singapore would be 4.5%; Korea would be 4.6%; and Malaysia would be 4.5%.
• LPG price in Guangdong is expected to rebound following the temperature drop. The price has been depressed by the softening crude oil price and abundant supply recently.
• Artini China Co. Ltd (789 HK, HK$0.91), announced that it will place 70m shares at price of HK$0.78, a 14.3% discount of the closing price yesterday. The net proceeds of HK$52.4m will be used for further develop the retail business of the company.
• Fubon Bank (HK) limited (636 HK, HK$3.79), announced that its net profit for FY12/09F is expected to be substantially below that of the previous year due to impairment of Lehman Minibonds and further charges for impaired loans.

SBI E2-Capital Daily Alert: 16 December 2009

What’s catching our eyes…

• The government plans to “speed the construction of low- cost housing” and strengthen supervision of the real-estate market and to target “excessive” growth in property prices in some cities.

Daily Alert: 15 December 2009

What’s catching our eyes…

• United Power (674 HK, HK$0.203), suffered HK$587.9m net loss in 1H FY03/10A, enlarged from HK$21.8m one year ago. The loss was mainly due to HK$543.8m impairment loss of goodwill, which arose from acquiring Hua Rong Sheng Shi (HR) to start license fee collection business. United Power paid HK$750m, including HK$90m in cash and HK$660m in preference and common shares issued at HK$0.11 each, to obtain HR in Mar. During the period, this new business contributed HK$9.9m revenue.
• China Merchants Bank Co. said it will have a capital shortage of more than 20 billion yuan between 2010 and 2012 as the bank aims to maintain its capital adequacy ratio at between 10 and 12 percent.

Daily Alert: 14 December 2009

What’s catching our eyes…

• China Unicom (762 HK, HK$10.2), said that it has already sold 100,000 iPhones since the October. 71% of the sales have signed a 2-year 3G consumption contract.
• The Minister for Industry and Information Technology reported China’s industrial output in November rose by more than October’s 16.1 percent gain. The government has set a target for industrial output growth of 11 percent next year.

Daily Alert: 11 December 2009

What’s catching our eyes…

• Premier Wen Jiabao said yesterday that the government will impose a sales tax on homes sold within five years of their purchase, increasing the time period covered by the charge from two years
• The Chinese government announced to further both “Appliances to Countryside” and “Automobile to Countryside” including raising price ceiling for home appliances, enriching product catalog, increasing subsidy for automobile replacement.

Daily Alert: 10 Decmeber 2009