BRIEF-Hong Kong Resources says unit entered into S&P agreement

May 2 (Reuters) - Hong Kong Resources Holdings Co Ltd

:

* Perfect Ace Investments Limited and Limin Corporation have

entered into a sale and purchase agreement

* After completion of agreement Weltrade will be

representing approximately 27.83 pct of entire issued share

capital of co

* Perfect Ace Investments agreed to sell and Weltrade agreed

to purchase 980.2 million ordinary shares in company

* Parties entered into sale and purchase agreement with

Weltrade Limited

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