Two subsidiaries of China International (SGX:BEH), CIHL (Tainjin) City Development and Yichang Zhongjia Xinye Asset Management, received first instance judgment from a Chinese court, ordering them to bear joint and several liability for debts owed to Beijing Annaige Decoration Engineering.
The court has ordered CIHL liable for up to 11 million yuan and Yichang Zhongjia liable for up to 739,074 yuan for obligations arising from unpaid debts to Yichang Zeyou Real Estate Development.
Helens International (HKG:9869) said a Beijing court invalidated three Chinese trademarks owned by an indirect wholly owned subsidiary after overturning a lower court ruling in the company's favor, according to a Thursday Hong Kong bourse filing.The court ruled that the trademarks were similar to earlier-registered trademarks owned by third parties and, therefore, invalid under China's trademark law.Helens said it is seeking legal advice and will consider all available measures to protect its interests. The company added that the dispute has no material impact on its business, operations, or financial position.Hong Kong-listed shares of the bar operator were down over 5% in Friday morning trade.
Zhongguancun Science-Tech Leasing (HKG:1601) said it entered into two sale and leaseback agreements with Shandong Xuguo Energy, according to a Hong Kong bourse filing Thursday.In both deals, the company will separately acquire power generation facilities for 45 million yuan and lease them back to Shandong Xuguo Energy for 47 million yuan.The lease agreements will last for a year.
Serial Achieva (SGX:XHV) secured a co-location services contract in Malaysia, to provide data center capacity and related facilities to a local cloud services provider, according to a Thursday filing with the Singapore Exchange.The contract is valued at around 17.8 million ringgit and has a three-year initial term.Shares of the consumer and enterprise IT products company were up nearly 2% in Friday trading.