Soundwill signs up for Fujian

PUBLISHED : Tuesday, 04 June, 2002, 12:00am
UPDATED : Tuesday, 04 June, 2002, 12:00am

Main board-listed property developer Soundwill Holdings has signed a memorandum of understanding to acquire debt-ridden, Hong Kong-listed property developer Fujian Group, a Fujian provincial government window company. Soundwill Holdings will inject a mainland-based telecommunications project into Fujian Group in exchange for a controlling stake in the latter.