Yunfu Vista Chemical Industry Co., Ltd. in Guangdong province consists of Yun’an Shengda Pine Oleoresin Chemical Co., Ltd. (shared 50%), Guangdong Agribusiness Group I/E Co., Ltd. (shared 25%) and Yueken International (HK) Co., Ltd. (shared 25%). On 24 Aug. Yunfu Vista listed total 50% shares transfer on South Joint Property Trading Center, priced at RMB14.02 million (USD2.06 million).
Yunfu Vista in 2009 had general assets USD4.96 million, among which net assets take nearly USD2.61 million and annual prime business income around USD4.22 million, net margin deficit USD334.55 thousand. It is estimated current general assets of Yunfu Vista valued USD6.1 million while USD2.43 in debt.
Transferee to the 50% shares is required to be favorable in financial position and commercial credit status, promise not to transfer shares or not to take significant recombination within the first three years, and keep working on gum rosin series products operation and production.
Yunfu Vista once signed three-party purchase agreement with Eastman Chemical and Guangdong Agribusiness I/E Co., Ltd. on 15 May, 2010, transferee have to obey all the items that agreement required and bear responsibilities accordingly. For any financial loss result from violating the agreement, transferee and Yunfu Vista will share responsibility.