Chinney Alliance Group (00385.HK) announced that, on 19 December 2011, it agreed to acquire 21.5% interest in Fineshade Investments Limited from LAOF IV Investments Pte. Ltd for US$4.945 million (HK$38.575 million).

The principal asset of Fineshade is its indirect 90% equity interest in Hui Gang (Hangzhou) Information Technology Development Co., Ltd., which owns Binjiang Intelligence Port, which consists of Buildings A1, A2 and B and located at 301 Binxing Road, Changhe Subdistrict, Binjiang District, Hangzhou, Zhejiang Province.

The business scope of Hui Gang as indicated in its business license includes property management and rental service of self-owned property.