Water affairs group joins forces with china water China Water Affairs Group, which engages in water supply and water treatment services, said it has entered into a non-binding agreement with state-owned China Water Investment Corp to set up a 50-50 joint venture. The firm plans to contribute 75 million yuan for its 50 per cent stake in the venture, which will provide water supply and manage water-related environmental projects. sun man tai buys out shanghai minhang Property investment firm Sun Man Tai Holdings said it has agreed to buy out mainland-based investment holding firm Shanghai Minhang Weixing Horticultural Land for 85.98 million yuan, of which its main asset is an uncompleted 2,417 square metre resort project in Shanghai. Rexcapital raises HK$250m in top-up share placement Rexcapital Financial Holdings, a locally based financial services and asset management firm, has raised HK$250 million in a top-up share placement to fund its working capital and business acquisition. Majority shareholder Kingly Profits Corp has successfully placed 730 million shares at 35 HK cents each.