Royal Bank of Scotland Group plc
Aconex Limited (ASX:ACX), provider of the #1 global platform connecting teams on construction and engineering projects, today announced the appointment of Craig Fulton as chief technology officer (CTO). Reporting to Rob Phillpot, senior vice president of product and engineering and co-founder, Mr. Fulton will be responsible for all Aconex product engineering and cloud hosting functions.
Global Finance launched the awards in recognition of the growing significance of the supply chain and the various financing solutions that are now available to enhance working capital and optimize DSO and DPO for buyers and suppliers. Global Finance selected winners across sixteen global and eight regional categories.
The Chairman of Australian iron ore company Australasian Resources Limited (ASX:ARH) Mr Domenic Martino announced today in Brisbane that ARH has finally agreed a structure for its massive iron ore deposit in Western Australia.
The Royal Bank of Scotland N.V. (LON:RBS) (NYSE:RBS) Hong Kong Branch is pleased to release Fufeng Group research report.
Fufeng Group Limited (HKG:0546) (PINK:FFNGY) earnings grew 30% yoy in 1H10 to Rmb460m, in line with both our forecasts and Bloomberg consensus. We have fine-tuned our earnings forecasts for FY10-12. Maintain Buy, HK$7.10 target price.
Fufeng Group (HKG:0546) Research Report Conducted By Royal Bank of Scotland (RBS) (NYSE:RBS). Fufeng is China's largest glutamic acid and second-largest MSG producer. We forecast an earnings CAGR of 20% for FY10-12, driven by capacity expansion and increasing cost savings. We initiate with a Buy rating and a HK$7.10 target price.
Fufeng Group Limited (HKG:0546) (PINK:FFNGY), a leading vertically integrated manufacturer of corn-based biochemical products in China, has today announced the Joint Lead Managers have exercised the Option in full for RMB 205 million (equivalent to approximately US$30 million) in principal amount of Option Bond, bringing the total issue size to RMB 1,025 million (equivalent to approximately US$150 million) in aggregate principal amount of Bonds when the Option Bonds are issued.
The Australian stock market opened in negative territory this morning following Wall Street's plunge on Friday. Asian markets also fell sharply Friday. Japan's Nikkei lost 1.5 per cent on stronger yen, while China's Shanghai Composite and Hong Kong's Hang Seng Index lost 1.1 per cent and 1.3 per cent respectively, due to Chinese government's further move to restrict speculative property investments.
Fufeng Group Limited (HKG:0546), a leading vertically integrated manufacturer of corn-based biochemical products in China, has today announced the issue of convertible bonds with an aggregate principal amount of RMB 820.0 million (the "Bonds") to international investors ("Purchasers"). Citigroup Global Markets Limited and ABN AMRO Bank N.V., Hong Kong Branch (to be renamed The Royal Bank of Scotland N.V., Hong Kong Branch in due course) acted as joint lead managers in the transaction.
Asian shares are set for a weak start on Monday after US markets fell on lower commodities prices and Greek debt concerns. Japanese market today is closed for Vernal Equinox Day. Most Asian markets gained on Friday. Japan's Nikkei index rose 0.8 per cent while weakness in yen boosted exporters. China's Shanghai Composite was also higher, with Alunimium Corp of China surged 10 per cent on Friday. Hong Kong's Hang Seng Index was up 0.2 per cent and South Korea's Kospi climbed 0.7 per cent.