ASF Group Limited
ASX:AFA ISIN:AU000000AFA2
ASF Group Limited (ASF) is engaged in property services and development, including property project marketing of developments in Australia and China, partnering and facilitating projects in areas, such as resource, mining and related technology, travel services and educational services. The Company is also involved in the research and development of an internal combustion engine using the Scotch Yoke Technology, and the marketing of the technology. On June 28, 2006, ASF acquired 40% of a joint venture company, ASF Macau Multinational Limited. On April 19, 2006, the Company acquired ASF Properties Pty Ltd. On September 9, 2005, the Company disposed its wholly owned entity, CMC Power Technologies Pty Ltd. Some of ASF's subsidiaries include ASF Corporate Pty Ltd, Aria Power Products Inc. and PRD Nationwide China Pty Ltd. In January 2007, FY Holdings Limited purchased a 57.51% stake in the Company.
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News
ASF Group Limited (ASX:AFA) said today that its wholly owned entity ASF Energy has entered into an agreement with Shanghai Time Shipping Co Ltd for the supply of coal for shipment to China. Shanghai Time is an associate company of China Huaneng Group Ltd, one of China's largest power conglomerates.
Australian shares fell significantly this morning after the US and European markets shed on concerns over the euro zone's ability to contain its debt crisis. The S&P/ASX 200 index lost nearly 2 per cent shortly after the market opened. On economic news front, today Australian Industry Group releases performance of service index for April, while Australian Bureau of Statistics publishes building approvals data for March.
ABN Newswire stocks to watch today include: AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF), Rex Minerals Limited (ASX:RXM), ASF Group Limited (ASX:AFA) (PINK:ASFTF), Legend Mining Limited (ASX:LEG) (PINK:LGDMF) and Otto Energy Limited (ASX:OEL) (PINK:OTTEF).
ASF Group Limited (ASX:AFA) (PINK:ASFTF) announce further to the Company's ASX announcement on 16 September 2009 concerning its strategic co-operation with Fujian Materials (Group) Co., Ltd ("FMGC"), a Fujian state-owned enterprise, the Company is pleased to announce that, through its wholly-owned subsidiary ASF Energy Pty Limited, it has entered into a Coal Sales Agreement with FMGC for the immediate sale and export of coal to China.
ASF Group Limited (ASX:AFA)(PINK:ASFTF) is pleased to announce that the Board of Directors has approved the issuance of up to 18 million new shares in the Company at not less than market price to a small number of sophisticated investors.
ASF Group Limited (ASX:AFA) Quarterly Activities Report to Dec 31, 2008
ASF Group Limited (ASX: AFA) is pleased to announce that it has signed a Co-operation Framework Agreement with Tianjin Binhai High-Tech Industrial Park where ASF has the right to invest and develop an Australian Science and Technology Park within the Tianjin Binhai High-Tech Industrial Park.
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