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The Group is engaged in a diversified range of businesses in Hong Kong and the PRC, including the manufacturing of special steel, property development and investment, basic infrastructure (such as power generation, aviation, tunnels and communications) and distribution of motor vehicles and consumer products.
MCC is an international construction company which has undertaken similar construction works for large scale iron ore projects in various countries including China, Brazil, Iran and Venezuela. MCC is chosen for the Projects for its ability to (i) undertake, complete and manage the Works up to world-class standards in terms of construction and safety management, and (ii) comply with the relevant legal and technical requirements in Australia and the applicable industry standards for similar types of construction works in Australia.
Catak is an indirect wholly-owned subsidiary of the Company and an investment holding company.
The principal business of Sino-Iron is the mining, extraction and processing of magnetite ore in the Mining Area.
The principal business of Sino-Iron Holdings is investment holding and its sole asset is its interest in Sino-Iron, which amount to 80% following the Disposal.
The principal business of Balmoral is the mining, extraction and processing of magnetite ore in the Mining Area.
The principal business of Balmoral Holdings is investment holding and its sole asset is its interest in Balmoral, which amount to 100% as at the date of the announcement.
A composite circular containing details of the Supplemented General Construction Contract, a letter from the independent board committee in relation to the Supplemented General Construction Contract, and a letter from the independent financial adviser in relation to the Supplemented General Construction Contract, will be despatched to the shareholders of the Company as soon as practicable.