Key Developments: Honghua Group Ltd (0196.HK)

0196.HK on Hong Kong Stock

0.89HKD
27 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Honghua Group Ltd gives FY 2014 profit outlook
Wednesday, 19 Nov 2014 04:37am EST 

Honghua Group Ltd:Says based on the unaudited consolidated management accounts and the information currently available.Expects the profit attributable to the shareholders of the company for FY 2014 will decrease significantly as compared to that for FY 2013.Such decrease is primarily due to the change in exchange rate and the influence of oil and gas service market environment.  Full Article

Honghua Group Ltd 's Honghua Offshore and Jas Marine's subsidiary entered into contract
Friday, 31 Oct 2014 06:10am EDT 

Honghua Group Ltd:Says Honghua Offshore and subsidiary of Jas Marine entered into contract.For construction of semi-submersible mobile offshore drilling unit (Construction Contract).Major contents in the Construction Contract are the same as those in leeter of agreement.Says purchaser has an option to purchase from Honghua Offshore 3 additional units with same specifications of semi-submersible mobile offshore drilling unit within 20 months from date of effectiveness of construction contract.  Full Article

Honghua Group Ltd announces issue of $200 mln 7.45 pct. senior notes due 2019
Friday, 19 Sep 2014 12:07am EDT 

Honghua Group Ltd:On Sept. 18, the company, subsidiary guarantors, HSBC, Citi, Morgan Stanley and BofA Merrill Lynch entered into purchase agreement in relation to issue of $200 mln 7.45 pct. senior notes due 2019.Estimated net proceeds of notes Issue, after deducting underwriting discounts and other estimated expenses, will amount to about $195 mln.Intends to use net proceeds of notes issue primarily to refinance certain of its existing indebtedness, including all outstanding amounts under term loan facility agreement, and to a lesser extent, for general corporate purposes.Says that it may adjust the foregoing plans in response to changing market conditions, and thus, reallocate use of proceeds in future.  Full Article

Honghua Group Ltd's indirect subsidiary enters into sale and purchase agreement with Kuwait Drilling Company K.S.C
Thursday, 11 Sep 2014 05:58am EDT 

Honghua Group Ltd:Says Honghua Golden Coast Equipment FZE (GCE), an indirect subsidiary of the company, and Kuwait Drilling Company K.S.C (KDC) entered into a sale and purchase agreement.Pursuant to which GCE shall sell to KDC and KDC shall purchase from GCE 4 units of land drilling rigs with certain specifications in accordance with the terms and conditions of the sale and purchase agreement.Consideration in relation to the transaction contemplated under the Sale and Purchase Agreement amounts to an aggregate of about $54 mln.  Full Article

Moody's assigns first-time B1 ratings to Honghua Group Ltd
Wednesday, 10 Sep 2014 03:22am EDT 

Honghua Group Ltd:Moody's Investors Service has assigned a first-time B1 corporate family rating to Honghua Group Ltd.The ratings outlook is stable.  Full Article

Honghua Group Ltd does not recommend dividend
Thursday, 21 Aug 2014 10:52am EDT 

Honghua Group Ltd:Does not recommend payment of interim dividend for the six months ended June 30, 2014.  Full Article

Honghua Group Ltd's indirect subsidiary enters into legally binding letter of award
Sunday, 17 Aug 2014 07:23am EDT 

Honghua Group Ltd:Honghua Offshore Oil & Gas Equipment (Jiangsu) Co., Ltd., an indirect wholly-owned subsidiary and Orion Engineering and Management Limited enters into legally binding Letter of Award for construction of one European-designed semi-submersible drilling rig by Honghua Offshore.Says according to the terms and provisions of the LOA, Orion plans to purchase Rig from Honghua Offshore for total consideration of about $320 mln.  Full Article

Honghua Group Ltd announces entering into shipbuilding contracts
Thursday, 14 Aug 2014 10:14am EDT 

Honghua Group Ltd:Says that Honghua Offshore and UDIN entered into several shipbuilding contracts pursuant to which Honghua Offshore shall build and sell to UDIN and UDIN shall purchase from Honghua Offshore six vessels.With certain specifications in accordance with the terms and conditions of shipbuilding contracts.Aggregate consideration in relation to transaction contemplated under shipbuilding contracts exceeds $200 mln.  Full Article

Honghua Group Ltd's indirect subsidiary enters into sale and purchase agreement
Monday, 30 Jun 2014 05:58am EDT 

Honghua Group Ltd:Says Honghua Golden Coast Equipment FZE (GCE), an indirect subsidiary of the company, and Gillard Middle East FZE entered into a sale and purchase agreement.Pursuant to which GCE shall sell to GILLARD and GILLARD shall purchase from GCE 20 sets of certain model top drives.Consideration $31 mln.  Full Article

Honghua Group Ltd recommend final dividend
Wednesday, 19 Mar 2014 09:00pm EDT 

Honghua Group Ltd:Says it has recommend a final dividend of HK$6 cents per share.The final dividend will be payable on or around June 18, 2014.Payable to the shareholders whose names appear in the register of members on June 4, 2014.  Full Article

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