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SCMP Reporter

Maersk to acquire 20pc interest in nansha port

AP Moller-Maersk Group, the largest container shipping company, has reached an agreement with Cosco Pacific to buy a 20 per cent stake in the second phase of Nansha Port, located at the mouth of the Pearl River Delta.

Total investment in the port, in which Cosco originally owned 59 per cent,  will be 4.01 billion yuan and the capital commitment of Maersk will be equal to 800 million yuan.

Cosco's shareholding in the six berths  will drop  to 39 per cent. All the berths will come on stream by the end of  next year with total annual capacity  of about 4.2 million 20-foot equivalent units.

Charlotte So

Sim technology profit up 84pc on robust sales

SIM Technology Group, a mobile handset design house, said first-half net profit rose 84 per cent to HK$201.53 million or 13.4 HK cents per share from HK$109.53 million or 9.7 HK cents a year ago on strong demand for handset design service. Turnover  jumped 87 per cent to HK$1.73 billion.

Vice-president Raymond Tsang expects  volume growth to  be stronger in the second half.  The first-half gross profit margin was 16.2 per cent, down from 18.6 per cent a year ago.

This year, the company has budgeted capital expenditure  of HK$200 million, of which it spent HK$108 million in the first half.

Georgina Lee

Cosco international to raise stake in sino ocean

Cosco International Holdings plans to raise its stake in its mainland property unit Sino Ocean Real Estate Development to 44 per cent from 20 per cent for 395.28 million yuan.

Sino Ocean's  after-tax profit last year rose 85 per cent year on year to 207.9 million yuan.

Foster Wong

small players lift market share despite failures

Repeated failures of small brokerages have not driven investors away from  them.  The 400 smallest players have  increased their share to 12.13 per cent of the total market turnover of HK$492.49 billion last month, from 11.02 per cent of total market turnover of HK$659.61 billion in June, according to  statistics  released by Hong Kong Exchanges and Clearing yesterday.

This was the first  increase for the small players since February.

Trades executed  by the 14 largest brokers, meanwhile,  dropped to 51.82 per cent of   total market turnover  from 54.64 per cent in June.Enoch Yiu

Swire properties wins nod to redevelop project

Swire Properties has secured government approval to redevelop Sai Wan Terrace in Quarry Bay  into three 17-storey residential blocks over three basement levels.

Swire Properties has declined to comment.

Meanwhile, Sun Hung Kai Properties will rebuild Southside Villas at Shouson Hill Road into 35 townhouses, which will be its largest low-density residential development in an urban area.

Yvonne Liu

xinyu hengdeli posts 41pc rise in first-half earnings

Xinyu Hengdeli Holdings, a mainland watch distributor partly owned by Swatch, said yesterday first-half net profit rose 41 per cent to  64.95 million yuan on  a 38 per cent growth in turnover to 907.67 million yuan.

The  firm, which will complete its acquisition of Hong Kong watch retail chain Elegant International this month, expects a net profit contribution of not less than HK$20 million from the chain in  the second half.  It also plans to open at least three more stores in the mainland to add to its 87 at the end of June.Andy Cheng



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