North Asia Resources  announced that it has received redemption letters from Business Ally Investments Limited and Grandwin Enterprises Limited respectively on 30 November 2011, requesting for the redemption of convertible bonds (CBs).

North Asia Resources has redeemed the US$3M CBs and the US$10M CBs plus accrued unpaid interest. The board is in the course of negotiations with Business Ally in relation to the US$30M CBs.