Zhongfu Straits Pingtan Development (SHE:000592) filed for the bankruptcy liquidation of its subsidiary, Zhongfu Straits (Pingtan) Real Estate, according to a Shenzhen bourse filing on Wednesday.
The application was made at the People's Court of Pingtan County, Fujian Province, China.
The company is a creditor of Zhongfu Straits Real Estate.
The forest product manufacturer's shares fell 2% at the close.
Ningbo Fuda's (SHA:600724) subsidiary, Xinping Yingzhou Cement, plans to dispose of the capacity quota of one of its cement clinker production lines through public listing, according to a Wednesday disclosure on the Shanghai bourse.The proposed capacity quota for the transfer is 2,000 tons per day or 600,000 tons per year.After the transfer, Xinping Yingzhou will shut down and dismantle the rotary kiln and other major production equipment.The plastic products producer's shares rose 2% at the close.
Mongolia Energy (HKG:0276) expects a pre-tax net loss of up to HK$362 million for the year ended March 31, compared with HK$172.5 million a year prior, according to a Wednesday Hong Kong bourse filing.The coal producer also expects a decline in revenue and gross profit.The forecast comes about amid a drop in sales volume, as well as the average selling price of clean coking coal.
Singapore shares remained in the green zone on Wednesday, gaining nearly 1% at the close, despite the US and Iran conducting strikes against each other, fueling an uncertain economic outlook to the region.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,112.86 and 5,150.69 throughout the day. It ended the session at 5,138.24, up 40.82 points or 0.8% compared to Tuesday's close.On the corporate front, shares of Vin's Holdings (SGX:VIN) closed over 7% lower after the company concluded its special investigation audit over irregular transactions linked to a former senior employee and confirmed fraud risk indicators.JustCo's (SGX:JCO) shares were down over 5% at the close as its stabilizing manager, DBS Bank, purchased 642,8000 shares in the company on June 2 between the price range of SG$0.685 and SG$0.765 per share.Meanwhile, Emerging Towns & Cities Singapore (SGX:1C0) secured a key regulatory waiver from the Singapore Exchange Regulation (SGX RegCo) regarding earlier undertakings in connection with a convertible loan agreement with Luo Shandong.