Capital Asia delay

Capital Asia has applied to the stock exchange to delay from today the despatch of a circular about the proposed sale of director Alex Wong Ching-ping's 25 per cent stake to Emperor International by February 27. The delay could allow the company to include the result of negotiation with creditor banks in the despatch. The company would meet creditor banks to discuss a standstill agreement on Monday after it was asked to repay $63.77 million immediately.