Public company info - Bel Global Resources Holdings Ltd. , 00761.HK
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Bel Global Resources Holdings Ltd., 00761.HK - Company Profile
Chairman Cai Dubing
Share Issued (share) 3,626,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Coal
Corporate Profile Business Summary: The principal activities are trading of mineral resources, and trading of tanned leather and fur pelts; manufacture and sale of leather garments, fur garments and fabric garments. Performance for the year: During the year under review, the Group focus on developing its coal trading business. Business relationships were built up with various customers and the Group’s revenue increased by 86% to HK$217,169,000 as compared with HK$116,926,000 in the previous year. Loss attributed to the equity holders of the Company amounted to HK$734,417,000 (2009: HK$130,029,000).The loss per share attributable to equity holders of the Company is 28.59HK cents Business Review: Notwithstanding the growth in coal trading business, the hardship of business environment for base metal production continued throughout the year and lead to weak demand of nickel ore. In view of sluggish market condition, the Group recognised further impairment loss of HK$659,626,000 on its nickel ore exclusive purchase right. Due to the prolonged economic downturn in Europe, revenue from apparel operation decreased by 15% to HK$74,454,000 as compared with HK$88,085,000 in prior year. Prospects: As part of the Group’s strategy to broaden its business scope and revenue base, the Group entered into an agreement, pursuant to which the Group has conditionally agreed to acquire 99.9% interests in certain coal mines in Indonesia at a consideration of, subject to adjustment, HK$498 million. Completion of the acquisition is conditional upon fulfilment of a number of conditions including approval by the Company’s shareholders. The details of the proposed acquisition were disclosed in the announcement of the Company dated 28 July 2009. As at the date of this report, the said acquisition has not been completed. A circular in relation to the acquisition will be dispatched to shareholders as soon as practicable. The board is confident that the completion of the acquisition will produce fruitful return to the Group.

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