Asia Resources Holdings Ltd.
The Company and its subsidiaries are engaged in the manufacturing and selling of pharmaceutical products, and involves in properties investment in the People's Republic of China (PRC). The Company's subsidiaries include China Value Assets Limited, Merit Development Limited, Bestime Systems Limited, Billion Source Investments Limited, Bright Central Investments Limited, Man Lee Management Limited, Silver Epoch Investments Limited and Value Brilliant Investments Limited. In June 2009, the Company announced the completion of acquisition in relation to the Iron Mining Licence and the Existing Iron Company.
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Asia Resources starts due diligence on a second iron-ore mine
Asia Resources announced that it has entered into a memorandum of understanding with the owner of a 1,195 hectares iron -ore deposit in Indonesia, in which it intends to buy a 55 percent stake.
The owner, Mr Lam, has agreed not enter into negociations with any other parties while Asia Resources carries out due diligence on the site.
Asia Resources is principally engaged in manufacturing and sales of pharmaceutical products, but is moving into iron ore mining. It recently acquired its first iron mine in Mongolia in a transaction completed in June this year.
