China Baoan chases damages

China Baoan Enterprises (Group) Co said it had filed a legal claim for 363.7 million yuan (about HK$338.53 million) from Yantian Port Group for failure to fulfil a contract to deliver a 250,000 square metre site. China Baoan is asking Yantian Port to return 185 million yuan and pay 129.25 million yuan in interest, 10 million yuan in compensation, and a fine of 39.5 million yuan for delayed allocation of the land. China Baoan Enterprises filed the suit with the Guangdong High Court on May 6, the company said.