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FINWIRES

Leo Group to Sign Related-Party Construction Framework Agreement; Shares Down 5%

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Leo Group (SHE:002131) will sign a related-party transaction framework agreement with Chuangxing Resource, controlled by Chair and General Manager Wang Xiangrong, according to a Wednesday filing with the Shenzhen bourse.

Chuangxing Resource and its subsidiaries will undertake construction and supporting engineering for Leo Group's factories, including construction contracting, material procurement and installation services.

The agreement is valid for 12 months, with estimated construction contracts of up to 20 million yuan.

Shares of the mechanical manufacturing and digital marketing company were down 5% in recent trade.

What else is happening in Asia?

Asia

Shenzhen Megmeet Electrical Buys Out 46.3% Stake in Subsidiary

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SHE:002851
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Zhejiang Wanliyang Appoints CFO

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SHE:002434
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Carimin Petroleum Raises Stake in Sealink International to 25.3%

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KLSE:CARIMINKLSE:SEALINK