Hong Kong Resources Holdings Co. Ltd. (02882.HK) plans to expand into post-production services for movie and television programs, via its 70-percent indirectly-owned subsidiary A Stars Entertainment Group Ltd.
The group is currently in negotiations for cooperation with a firm that has expertise in the business, the Hong Kong Economic Journal reported Thursday.
No definitive agreement has been reached yet between the parties, the company was quoted as saying in a stock-exchange filing.
Chairman Kennedy Wong Ying-ho said earlier this week that his group is looking at collaboration with Post Production Office Ltd., an entity founded by Hong Kong actor and singer Nicholas Tse.
Tse’s firm provides post-production services for Hollywood movies.
The remarks propelled Hong Kong Resources’ shares by as much as 27 percent to 31 Hong Kong cents (4 US cents), before the company sought a trading suspension. The shares resumed trade Thursday.
Separately, Universe International Holdings Ltd. (01046.HK) said its wholly-owned subsidiary has entered into a letter of intent with Jade Sparkle Holdings Ltd. and Wong Chun-loong, the veteran comics artist, in relation to a proposed acquisition of up to 78.64 percent interest in Jade Dynasty Multi-Media Ltd.
The company did not give details, including the possible acquisition price, in its announcement.
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