FINWIRES · TerminalLIVE
FINWIRES

OFilm Denies Media Reports of Controller Draining Company Assets

By

OFilm (SHE:002456) denied media reports that actual controller Cai Rongjun emptied the company's assets using companies not listed in their balance sheets, according to a Monday filing with the Shenzhen bourse.

Media reports said Cai facilitated unauthorized technology transfers to his controlled companies, Xinfeiguang Communication Technology and Xinsikao Motor, without proper authorization, according to the company.

OFilm's research and business lines are independent of the two entities, the company said in its filing.

The optoelectronic products maker has issued notices to media to retract their articles and filed police reports, it said.

Related Articles

Asia

Sarawak Consolidated Unit, Inland World to Co-Develop MYR83 Million Residential Project

Sarawak Consolidated Industries (KLSE:SCIB) unit SCIB Ecobuild signed a deal with Inland World to jointly develop a residential project in Sabah, Malaysia, with an estimated gross development value of 83.2 million ringgit, according to a Friday Malaysian bourse filing.The project, known as Dimpoukon Residence, will comprise two nine-storey condominium blocks with a total of 144 residential units.Under the deal, SCIB Ecobuild will be responsible for the project's implementation, management and execution, while Inland World will remain the registered and licensed developer.SCIB Ecobuild will be entitled to 80% of the project's net development profit,with Inland World receiving the remaining 20%.SCIB said the project is expected to be completed by February 2029, subject to the fulfilment of conditions and receipt of required approvals.

KLSE:SCIB
Asia

Energy World Extends Asset Purchase Agreement Delivery Deadline With Hallador Energy; Shares Down 3%

Energy World (ASX:EWC) agreed with Hallador Energy to extend the scheduled delivery date under its asset purchase agreement announced on May 30, with the deadline for loading equipment for shipment to the US extended to Sept. 4 from Aug. 31, according to a Monday Australian bourse filing.The company's shares fell past 3% in recent Monday trade.

ASX:EWC
Asia

MN Holdings Arm's MoU with China State Construction Engineering Expires on Completion of Term

MN Holdings (KLSE:MNHLDG) said a memorandum of understanding between its wholly-owned subsidiary MN Power Transmission (MNPTSB) and China State Construction Engineering has expired upon completion of its term on Aug. 6, according to a Friday filing to the Malaysian stock exchange.The MoU, which came into effect on Aug. 7, 2024, for a term of two years, was aimed at collaboration in procuring, developing, and undertaking any proposed projects, especially in the power industry.Under the pact, the two companies would target customers in the data center, solar, and independent power plant sectors throughout Malaysia. The deal also aimed to expand the companies in other ASEAN countries.The company's shares were up nearly 1% in recent trade.

KLSE:MNHLDG