The sale by China Resources (Holdings) Company Limited of a 49% interest in Welltec Industries Equipment Limited to Cosmos Machinery Enterprises Limited

Reorganisation and recapitalisation

Placing

The sale of a 50% interest in Rafael Hotel Group by HKR International, price undisclosed

Capital reorganisation

Purchase by each of Hanny Holdings Limited and International Tak Cheung Holdings Limited of 500 million shares in Tung Fong Hung (Holdings) Limited

Capital reconstruction and sale negotiations

Adviser for the group

Investigation, bank negotiation and sale negotiations

Bank negotiations and recapitalisation proposals