Business Digest, December 31, 2012

China's largest land-based oil and gas drilling rigs maker Honghua Group is aiming for sales of at least 10 billion yuan (HK$12.2 billion) next year. Sales hit 3.49 billion yuan last year and 1.97 billion yuan in the first half of this year. Uncompleted orders stand at 6.5 billion yuan, comprising 6 billion yuan of rigs and 500 million yuan of engineering services. Eric Ng

Hong Kong's residential property remains quiet, although sales of previously occupied homes rose to 17 deals over the weekend from 14 a week earlier, said Midland Realty director Sammy Po Siu-ming. Record prices were fetched in some small flats, as investors were drawn by their higher rental yields. New flat sales in the past two days were led by 10 deals at Henderson Land Development and New World Development's The Reach in Yuen Long. Eric Ng