People's Food resumes Sars-halted operations Mainboard-listed People's Food Holdings, China's largest meat processor, on Saturday resumed purchasing pigs from suppliers in Sichuan and Inner Mongolia provinces. It also restarted a reduced pig-slaughtering operation in its Meishan and Tongliao plants, which account for 35.5 per cent of its total pork production. Due to the Sars outbreak, the company had earlier suspended these operations. Competition, higher costs trim Zheda Lande's profit Growth Enterprise Market-listed telecommunications software and hardware provider Zheda Lande Scitech's net profit for the first three months fell 6.5 per cent year on year to 2.73 million yuan (HK$2.56 million) despite turnover rising 24.64 per cent to 22.1 million yuan. The company attributed the decline to fierce competition and higher operating expenses. Fushan agrees to form coal production venture Mainboard-listed jewellery seller Fushan Holdings has agreed to form a fine-coking coal production joint venture with Shanxi Jin Ye Coal and Coking Group. Fushan will have a 45 per cent stake, Shanxi 40 per cent and Golden Oak Development 15 per cent. The total cost of the venture will be 114.03 million yuan (HK$107 million). Multifield offers to buy out Oriental Mainboard-listed property investor Multifield International Holdings, which owns 29.76 per cent of mainboard-listed steel trader Oriental Explorer Holdings, has offered to buy all the shares it does not already own at 4.5 HK cents each, a 36.4 per cent premium to Oriental's last closing price of 3.3 cents. The offer values Oriental at $81 million. New Universe nets $9m from sale of data centre Growth Enterprise Market-listed industrial mould-maker New Universe International Group sold Internet data-centre operator SkyDatamann to an independent third party for HK$1, two years after it bought it for $140 million. The disposal resulted in a $9.3 million gain for New Universe as SkyDatamann was excluded from its books. ICBC eyes Chekiang Bank Industrial and Commercial Bank of China (Asia) (ICBC) said it had began preliminary discussions on the possible acquisition of Chekiang First Bank from Mizuho Group, but no agreement has been made. Nor has any price been agreed.