Briefs

Grande Holdings placed in provisional liquidation

Grande Holdings, the Hong Kong-listed electronics company implicated in the collapse of Akai Holdings in 2000, has fallen into provisional liquidation. Just before Akai folded, in what remains Hong Kong's biggest insolvency, disgraced founder James Ting transferred his company's electronics brands, including Sansui and Akai, to Grande. The company's Hong Kong Stock Exchange announcement confirmed an earlier report by the Post. Staff reporter

Mongolian Mining buys Quincunx coal mine

Mongolian Mining has bought the Baruun Naran coking coal mine from Quincunx for US$464.5 million. The mine is estimated to have 193 million tonnes of mineable coal. If Baruun Naran's total proven reserves exceed 150 million tonnes, Mongolian Mining will have to pay the seller US$3 for every additional tonne. Mongolian Mining said US$744 million of investment is needed to increase annual output capacity up to 10 million tonnes. Quincunx is 90 per cent-owned by Kerry Mining (Mongolia), an associated company of Kerry Group, the majority shareholder of SCMP Group, which publishes the South China Morning Post. Eric Ng

Soho China in 1.5b yuan Shanghai site deal

Soho China has bought a commercial site in Shanghai for 1.5 billion yuan (HK$1.78 billion), its eighth acquisition in the city. The 16,427-square-metre site on Hainan Road is close to the Sichuan North Road Station in the Hongkou district. Soho China said it could develop a retail and office project with an area of 66,833 square metres. It includes an office floor area of 60,194 square metres and a retail space of 6,639 square metres. Soho plans to spend 15 billion yuan on land acquisition for the 12 months to March next year. Including the latest acquisition, the firm has bought four sites for 8.8 billion yuan since April. Yvonne Liu