Asian Activities Report for December 6, 2011: DunAn (SHE:002011) Won Greatest Growth Potential Award in China
Honghua Group Limited (HKG:0196) says that its wholly-owned subsidiary Sichuan Honghua Petroleum Equipment Corporation Ltd. will form a joint venture company with Gansu Huateng Petroleum Machinery Manufacturing Co., Ltd.. Sichuan Honghua will purchase some assets from Gansu Huateng for RMB 39 million, and own 70% of the equity interest in the joint venture, with the rest 30% to be owned by Gansu Huateng. The joint venture company will be principally engaged in manufacturing and marketing of special vehicles, fabrication and marketing of pressure pumps, oil exploration and production, mining and metallurgy, and other business.
Seven Bank, Ltd. (JSD:8410), an Osaka Securities Exchange listed company, has received approval to list its shares on the Tokyo Stock Exchange on Monday, December 26, 2011. Seven Bank is a subsidiary of Seven & I Holdings Co. (TYO:3382), with its core business in ATM operations. The Bank has started to install third-generation ATMs in the fiscal year 2011, and as of the end of February 2011, it had 15,356 installed ATMs. The Bank's net income in the fiscal year ended March 31, 2011 was 16,008 million yen.
Seven Bank Limited
Seven & i Holdings Co., Ltd.
Honghua Group Limited