SINGAPORE
OLAM International (OLAM) to issue S$250M of 2.50% fixed rate notes due 2013 under its $2B Euro Medium Term Note Programme on Thursday.
Neptune Orient Lines (NOL)'s APL announced that "In preparation for the vessel maintenance schedule in the winter and consideration of the forecasted lack of improvements in the market environment in the Asia-Europe trade, the members of the G6 Alliance have decided to temporarily suspend their Loop 3 service between the Far East and Europe until further notice."
Super Group (SUPER)'s wholly owned subsidiary, Super Coffee Corporation, has acquired another 10% equity interest, comprising 45,000 ordinary shares in the share capital of Super Vending at a consideration of S$85,500.
US markets were closed yesterday in observance of Labor Day.
In Europe , August euro zone PMI manufacturing was 45.1 in final estimation, vs 45.3 in the prior one. August Germany PMI manufacturing was 44.7 in final estimation vs 45.1 in prior one. August French PMI manufacturing was revised lower to 46 in final estimation vs 46.2 in the prior one. In UK , PMI manufacturing was 49.5 in August (46.1 expected) vs 45.2 in July. Moody's Investors downgraded the outlook on the European Union's "Aaa" ratings to "negative" from "stable". The change "reflects the negative outlook on the Aaa ratings of the member states with large contributions to the EU budget. The creditworthiness of these member states is highly correlated, as they are all exposed, albeit to varying degrees, to the euro-area debt crisis," commented by the rating Co. Regarding the stocks, Davide-Campari Milano gained ground as the Co announced the acquisition of Lascelles deMercado & Co. This morning, the Nikkei225 index opened lower, and remains under pressure below its 50D MA.
CHINA - HK
Chalco (2600): Turquoise Hill Resources announced the "termination of the lock-up agreement entered into with Aluminum Corporation of China Limited ("Chalco") on April 1, 2012 pursuant to which Turquoise Hill agreed to tender its shares in SouthGobi Resources Ltd (1878) into a proportional takeover offer to be made by Chalco for up to 60%, but not less than 56%, of the shares in SouthGobi. After careful consideration, both Turquoise Hill and Chalco have concluded that the proposed transaction has minimal prospect of obtaining the necessary regulatory approvals within an acceptable timeframe."
China Coal Energy Co Ltd (1898) posted 1H attributable profit of 5.45B yuan, down 10.4% on the year, on revenue of 45.4B yuan, up 5.4% YoY. Sales of commercial coal rose 8.7% YoY to 72.1 million tonnes.
Orient Overseas (International) Ltd (316) unveiled 1H attributable profit of $116.7M, compared to $175.0M the previous year. Profit from operating activities for the first half of the year was $82.0M, as compared to a profit of US$176.4M in the first six months of 2011. The board announced an interim dividend of $0.0466 per share. Looking ahead, the Co said "Prospects of a strong third quarter, the traditional peak season for container shipping, have dimmed a little of late as a result of the poor economic data from the major consumer markets."
Kerry Properties Ltd (683) published 1H consolidated net profit of HK3.39B, up 10% from HK3.07B in 1H11. Consolidated turnover surged to HK$17.96B, vs HK$9.32B the previous year. The Co declared an interim dividend of HK$0.4 per share (1H11: HK$0.4).
ENN Energy Holdings (2688) reported 1H attributable profit of 730M yuan, up 16.1% YoY on revenue of 8.77B yuan, up 21.8% on the year. "During the Period, piped gas sales revenue reached 5.11B yuan, representing an increase of 32.2% over the corresponding period last year and accounting for 58.2% of the total revenue".
China Eastern Airlines (670) aims to accelerate its 2H capacity growth to 10% through boosting international services.
Sands China (1928), Wynn Macau (1128), Galaxy Entertainment Group (27): Macau 's August gambling revenue rose 5.5% YoY to MOP26.14B, up from MOP24.77B in the same month last year. "In the first eight months of the year, revenue rose 15.2% from the same period in 2011 to MOP199.44B," according to Macau 's Gaming Inspection and Coordination Bureau.
Tingyi ( Cayman Islands ) Holding Corp (322) sold appx. 11.61% of the issued share capital in Weichuan to Ting Hsin for an aggregate consideration of around NT$1.86B.
Datong Coal Industry (601001): 3Q results expected.
Henderson Land Development (12): ex-div HK$0.32 Hutchison Whampoa (13): ex-div HK$0.55
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