Oriental Ginza Holdings (HKG:0996) has agreed to sell Virtue Link Investments Limited and the sale loan to China Hua Rui International Petroleum Limited for HK$380 million. Oriental Ginza intends to use the estimated net proceeds of HK$379.5 million as its general working capital. Oriental Ginza expects to record a gain of HK$5.7 million from the disposal.

Virtue Link indirectly holds The Yangtze River Delta Petro Technology Company Limited and Yancheng Saifu Petroleum & Chemical Company Limited, principally engaged in the research and development, manufacturing and the sale of high clean unleaded gasoline and diesel.

Oriental Ginza said that while it remains optimistic to the high clean unleaded gasoline and diesel business in the long run, the management time and effort required had been much more demanding than expected. On 23 September 2011, Oriental Ginza entered into an agreement to acquire Easy Linkage Development Limited, which is indirectly holding a large property development project in the PRC. With the acquisition of Easy Linkage Development Limited, in order to consolidate Oriental Ginza's existing resources and improve its profitability as a whole, the board of Oriental Ginza intends to reallocate its existing resources and focus on the development of the corresponding project accordingly.