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China Env Res (01130) may buy stake in metal recycle firm
China Environmental Resources (01130) said it entered into memorandum of understanding in
relationto the proposed subscription for70% of the enlarged issued share capital of acompany.
  A refundable deposit in the amount of HK$5 million has been paid by China Environmental
Resources.
  The issuer together with its related companies are principally engaged in metal recycle
business in Hong Kong and the PRC and are in the course of acquiring several related 
businesses for horizontal/vertical expansion

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