HK Asia Aluminum Chmn To Buy Co At HK$1.30/Shr - Source-2
The chairman of Asia Aluminum Holdings Ltd. (0930.HK), the region’s largest aluminum extruder by output, is seeking to buy out the company at HK$1.30 a share, a person close to the situation said Wednesday.
Kwong Wui-chun, also the company’s major shareholder, said in February he may acquire the shares in the firm he doesn’t already own.
The proposed buyout price represents a 13% premium to the company’s closing share price Tuesday of HK$1.15.
The stock was suspended from trading Wednesday pending a disclosure by its major shareholder on plans to take the company private, the stock exchange said earlier.
The company’s shares have surged 49% in the past six months. Kwong’s offer values Asia Aluminum’s public float of 2.08 billion shares at HK$2.7 billion.
Merrill Lynch is handling the deal, another person familiar with the situation said.
More: sg.biz.yahoo.com
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Hong Leong Asia To Issue S$50M 1Y Bonds At 3.885% -Source
Hong Leong Asia To Issue S$50M 1Y Bonds At 3.885% -Source
SINGAPORE (Dow Jones)--Singapores Hong Leong Asia (H22.SG) plans to issue a S$50 million one-year fixed-rated bond at 3.885% next month, a source close to the deal said Monday.
Institutional investors have already taken up the bond issue, which will be issued May 16, the source said. Standard Chartered Singapore is the lead manager for the transaction.
Hong Leong Asia is the manufacturing arm of Hong Leong Group, a conglomerates with about 510 companies, including nine listed companies.
More: sg.biz.yahoo.com
Alcoa, SMW Automotive enter casting pact in Asia
Alcoa Inc. (AA.N: Quote, Profile, Research) said on Wednesday it agreed with SMW Automotive Hong Kong to form an alliance to produce cast aluminum chassis and suspension components and modules for the automotive industry in China, South Korea, Japan and the Asia Pacific region.
SMW Automotive Hong Kong is a subsidiary of Concord International, a privately held supplier of chassis, brake components and systems headquartered in Troy, Michigan, with operations in the United States, Canada, France, Brazil, and China.
Under the agreement, top aluminum producer Alcoa said, it will license its Vacuum Riserless and Pressure
Roos stars unavailable for cup
While Socceroos management is still holding on to a thread of hope that Mark Viduka, Tim Cahill, John Aloisi, Mark Schwarzer, Harry Kewell and Marco Bresciano will be available for their away game on February 22 and home game on March 1 against yet-to-be-determined opponents, the odds are heavily against them playing.
Despite some optimism a month ago that the Socceroos would be able to field a very strong line-up, an overseas source confirmed yesterday that the players will be forced to stay with their clubs when the cup qualifiers are being played.
"The players have
Abhishek voted sexiest man in Asia
Abhishek Bachchan tops a list of 50 Sexiest Asian Men in a survey conducted by Eastern Eye, an Asian newspaper in Britain.
Abhishek, who was spotted on number three in last years poll, was shocked to hear he had topped the ranking in Eastern Eyes Sexiest Asian Men of 2006.
Oh God really? Thats interesting. Shocking actually. Are people blind? But wow, I would like to thank everyone. I dont agree with them but it is sweet, said Abhishek in a statement.
Source : hindustantimes.com
PCB wants extra ODI as compensation for Asia cup postponement
Lahore: After acceding to the BCCI's request to postpone the Asia Cup, the Pakistan Cricket Board (PCB) now expects, as a quid pro quo, India to play six one-dayers as against scheduled five when they arrive here next month.
PCB chief Sharayar Khan has announced the postponement of the six-team Asia Cup, scheduled from February 16-18, citing the ''valid reasons'' put forward by the BCCI and said the tournament will be held later at a mutually convenient date.
The BCCI sought the postponement to allow Indian players rejuvenate before the England series
