Kingway Brewery (Hong Kong stock code 00124) said the Board has established a committee to conduct strategic review of the Group in view of the significant challenges and the uncertainty in the global and regional economical conditions. As part of the strategic review process, Kingway Brewery is considering the efficiency and potential of the Group’s business and assets and, to this end, plans to commence discussions with certain independent third parties principally engaged in the manufacture and distribution of beer products, and it is expected that such third parties will be invited to submit proposals and indicative offers for possible acquisition of certain of the Group’s brewery business and assets, as well as proposals for production facility leasing arrangements with the Group, with a view to enabling Kingway Brewery to evaluate such business and assets. Kingway Brewery will also require that the proposals to be submitted should include measures to maintain stability of the workforce at such entities to be transferred. The scope of the strategic review encompasses, among other things, assessing the environment in which the Group operates, looking at ways to improve profitability and create new income streams as well as evaluating the utilization and potential of the Group’s assets with a view to formulating the Group’s long term business objectives. The stock is up 2% to HK$2.51 at midday and it hit HK$2.65 in early morning.