Business Digest, December 19, 2012

The Securities and Futures Commission fined Deutsche Securities Asia HK$2.5 million for regulatory breaches and internal control failings relating to position limits. It found the firm's holding, on behalf of a client, of 57,403 contracts in China Construction Bank stock options on September 1 last year was in breach of the limit of 50,000 contracts. Toh Han Shih

China Petrochemical Corp, parent of listed Sinopec, agreed to buy a 49 per cent stake in the British subsidiary of Canada's Talisman Energy for US$1.5 billion. The unit has stakes in 51 oil and gas fields in the North Sea, with proven and probable recoverable oil and gas reserves of 489 million barrels of oil equivalent. Eric Ng