Electronic gaming solutions provider Paradise Entertainment Ltd. announced yesterday that it has been selected to join several stock indexes that are managed by the Hang Seng group from March 9.
“This important recognition from Hang Seng is a vote of confidence for the company’s health and growth, and highlights our expanding presence in the Asia-Pacific gaming marketplace as players embrace our innovative electronic gaming solutions, such as the Live Multi-Game terminal,” said chairman and managing director of Paradise Entertainment, Jay Chun, in a statement.
Mr Chun added, “We believe our inclusion in several of Hang Seng’s key indexes will create more awareness of the company’s equity, and potentially improve the liquidity of trading in Paradise shares.”
On March 9, Paradise joins several Hang Seng indexes, such as the Hang Seng Broad Consumption Index, which reflects the performance of Hong Kong-listed stocks whose companies provide goods and services to consumers. The group also joins the Hang Seng Global Composite Index, which serves as a benchmark for the overall performances of all companies listed on the Hong Kong Stock Exchange. Finally, it also joins the Hang Seng Composite Index, which offers a comprehensive benchmark that covers the top 95 percent of the total market capitalization of companies that are listed on the Hong Kong Stock Exchange’s main board.
Each of the indexes managed by Hang Seng uses a free-float-adjusted (FAF) market capitalization weighted methodology, and each constituent has an estimated free-float-adjust factor, which is reviewed quarterly. Paradise Entertainment will enter with a FAF of 45 percent, the company revealed in a statement.
‘The Man From Macau 2’ tops China’s box office
Directed by Wong Jing, “The Man From Macau 2” trumped competing Chinese movies last week at the mainland Chinese box office, hauling in USD70.6 million over the second half of the Chinese New Year holiday, the Los Angeles Times reported.
Also known as “From Vegas to Macau 2,” the Hong Kong-Chinese crime comedy film stars Chow Yun Fat, Nick Cheung, Carina Lau and Shawn Yue Man-Iok. Its cumulative gross sales amounted to over USD115 million, according to the LA Times.
Shawn Yue Man-Iok plays Vincent, an Interpol agent who is seeking the help of Ken (played by Chow Yun Fat) to bust the mastermind of an international crime ring.
“A good deal of explosive action takes place in The Land of Smiles. There are also farcical scenes aplenty, notably one in which Mark (played by Nick Cheung) pretends to be Chow’s ‘God of Gamblers’ chocolate-chomping character – in a rare departure from [Cheung’s] general straight-man role here – and those that have Ken going a few rounds in the ring with a champion Muay Thai fighter (Ken Lo Wai-kwong),” wrote Yvonne The in a film review for the South China Morning Post.
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