Jade Technologies Holdings has posted revenue of $251,000 for the first quarter ended December 31, 2009 (1QFY2010). This is the group’s first operating revenue since 4QFY2008.

Last Sept, Jade acquired the rights to trade, market and distribute titanium dioxide manufactured by Daqing XinLong Chemical Company, a titanium dioxide manufacturer in Heilongjiang, China. It also incorporated subsidiary Daqing Xinde Chemical Marketing & Distribution to trade, market and distribute titanium dioxide-related products manufactured by XinLong.

Says Sam Chong Keen, Jade’s Group President: “The acquisition of XinLong and XinDe concluded our extensive search for a new business with the potential to be Jade’s new growth driver. The titanium dioxide industry presents the Group with an opportunity for renewed growth and a sustained stream of revenue from a business with attractive fundamentals. Though modest, this operating revenue signals the beginning of a turnaround for the Group. We would like to thank our loyal shareholders for their patience and confidence in Jade.”

The group had divested its loss-making operating subsidiary, Jade Precision Engineering, unwound its other investments and discontinued its coal-mining operations at Mount Galugua, West Sumatra Province, Indonesia.