StanChart names Tsang as chairman

Standard Chartered Plc named Katherine Tsang as chairman for Hong Kong operations to replace Chow Chung-kong from January 1.

Tsang, sister of Hong Kong Chief Executive Donald Tsang, has been the bank's chairman for Greater China operations since July 2009, according to an emailed statement Monday.

Henderson enters $1.3b term loan

Henderson Land Development has entered into a HK$10 billion ($1.3 billion) term loan and revolving credit agreement with a syndicate of banks, it said Monday.

The company did not give further details on the banks involved in the statment to the Hong Kong bourse.

Sa Sa says Q3 sales up 17%

Hong Kong-based cosmetics retailer and wholesaler Sa Sa International Holdings Ltd said Monday that turnover in the fiscal third quarter ended December rose 16.8 percent from a year earlier.

In a filing to the Hong Kong stock exchange, Sa Sa said same-store sales for the period grew 6.8 percent and average sales per transaction rose 8.4 percent.

In other markets, including the mainland, Singapore, Malaysia and Taiwan, the company recorded 33.5 percent year-on-year growth in retail and wholesale turnover.

Shenhua sells coal for $142 a metric ton

China Shenhua Energy Co sold February-loading thermal coal to a South Korean buyer for $142 a metric ton on a free-on-board basis, Reuters reported Monday, citing two unidentified people familiar with the matter.

The price is about $10 a ton higher than the market rate on global COAL's Newcastle swaps index, Reuters said, citing the people.

Sinopec to start Maoming project

China Petrochemical Corp will invest 7.3 billion yuan in the Guangdong Maoming Petrochemical's upgrading project, Xinhua News Agency reported Monday.

Cathay revenue ahead of target

Cathay Pacific Airways Ltd's December revenue was more than 20 percent ahead of target, according to an internal document seen by Dow Jones Newswires Monday, underscoring solid demand for air travel as the Hong Kong-based carrier is set to report record 2010 earnings.

In a weekly business report sent to Cathay Pacific staff Friday, Cathay Pacific Chief Executive Tony Tyler said the airline ended 2010 with solid growth from a year earlier, though he didn't provide further details.

The load factor for the airline's cargo operations was more than 75 percent in 2010, well above the average of recent years, Tyler said in the document.

Fairholme Capital buys CPIC shares

Fairholme Capital Management LLC bought more than $600 million of China Pacific Insurance (Group) Co common shares listed on the Hong Kong stock exchange, it said in a statement Monday distributed through Business Wire. Fairholme Capital bought the shares on behalf of a series of Fairholme funds and certain institutional accounts, according to the statement.

IRC's production meets forecast

IRC Ltd said iron ore concentrate production at its Kuranakh mine in Russia met revised 2010 production targets, according to a statement from the company to the Hong Kong stock exchange Monday.

Sales of iron ore are "ongoing" to a steel producer in Helongjiang province under a long-term agreement, the statement said.

Bloomberg - Reuters

(HK Edition 01/11/2011 page2)