Armada: Considering acq of co in China. Details not revealed but target is expected to add to existing operations of grp in IT and communications. Negotiations are expected to conclude before Chinese New Year in 2011. The deal is likely to require approval from both sh/h and regulators and co is looking at financing options…
Co has earlier acquired China RFID remaining 25% for S$4.1m which has exclusive rights to procure and sell radio freq identification (RFID) chip modules. Co has been loss-making since late 2008 and saw a loss of HK$61.12m (S$10.2) in Sept 3Q2010…
Armada jumped 14.3% yday, to close at $0.04 before mkt closed. Unlikely to have impact on price today unless further details are revealed.
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