Air cargo throughput falls 14.4 percent in June

Air cargo throughput via Hong Kong fell 14.4 percent in June, the smallest monthly decline since October but still dampened by weak global demand, particularly in Europe and the United States, data from Hong Kong Air Cargo Terminals Ltd (Hactl) showed on Friday.

"Whilst the first half of 2009 has in general been difficult, it is delightful to observe the relatively stabilized tonnage performance over the past few months," Hactl said in a statement.

Beijing on Friday announced that its exports fell 21.4 percent in June from a year earlier, the smallest decline since March, and rose 7.5 percent from May.

Air cargo volumes through Hong Kong in June totaled 187,955 tons.

CNOOC may join CNPC in $14.5b bid for Spain's YPF

The country's top offshore oil and gas producer CNOOC is in discussions to support China National Petroleum Corp's (CNPC) expected $14.5 billion bid for Spanish oil major Repsol's Argentine unit YPF, a source with direct knowledge of the matter said.

CNOOC is eying 25 percent of YPF, the source told Reuters on Friday. The source was not authorized to speak publicly about the matter and declined to be identified.

CNPC, parent of top Asian oil and gas company PetroChina, is in talks to buy 75 percent of YPF, sources said earlier this week.

BYD eyes bus making company in Hunan

Mainland battery and electric car maker BYD Co is seeking to buy a bus making company in Hunan, Central China, to increase production of alternative fuel vehicles, according to the Hunan Economic Committee's website.

BYD, part owned by Warren Buffett's Berkshire Hathaway, would pay at least 2 billion yuan ($293 million) to acquire Hunan Sanxiang Bus Group from the Midea Group, the committee said on its website.

The facilities, located in Changsha, Hunan province, will become BYD's third manufacturing base on the mainland and eventually produce BYD's sedans, small vans and components, it added.

BYD would not comment on the announcement.

China Overseas Land says H1 unit sales rise 66%

Top mainland property developer China Overseas Land said its apartment sales for the first half of 2009 jumped 66.1 percent year-on-year to HK$26.3 billion ($3.4 billion) as demand for homes remained strong.

The developer said it sold 2.83 million square meters of apartments during the six-month period, up 92.4 percent from a year earlier.

Apartment sales for June rose 31.6 percent year-on-year to HK$6 billion with total gross floor area sold rising 32.5 percent to 665,900 square meters, the company said.

It said no new land was acquired in June and total land reserve of 24.8 million square meters was sufficient to meet its needs in the next 4-5 years.

China Aoyuan to raise funds for acquisitions

Mainland real estate developer China Aoyuan Property Group Ltd aims to sell up to HK$644 million ($83 million) worth of new shares, raising capital to fund property acquisitions, according to a term sheet on Friday.

The developer will sell 360 million new shares to its chairman at a price between HK$1.73 and HK$1.79 each, with an option to issue a further 90.5 million shares, the term sheet said.

The issue price represents a discount of 9.1-12.2 percent to the closing price of HK$1.97 on Thursday. The shares were suspended on Friday.

The chairman will buy the new shares on completion of sales of the same amount of existing shares at the same price. Morgan Stanley is handling the deal.

China Daily - Reuters

(HK Edition 07/11/2009 page5)