It seems that China Security & Fire is planning to spend A$157.5 million ($120.3 million) to purchase security related assets owned by Securecorp Australia Pty Ltd and eWitness Nominees Pty Ltd - this is according to a filing at the Shanghai stock exchange on Friday last week.

China Security & Fire has a Hong Kong subsidiary, and reportedly it will be through this company that the group will purchase Impact Success Limited and United Premier International Limited for 1.3 billion Thai baht ($37.3 million).

An additional result of this deal will be that China Security & Fire will be allowed to indirectly own stakes in Guardforce Security Services (Thailand) Co Ltd, Guardforce Aviation Services Co Ltd, Guardforce Aviation Security Services Co Ltd and Guardforce Holdings (Thailand) Ltd.

According to Reuters, China Security & Fire also plans to raise up to 5 billion yuan ($770 million) in a private placement of shares to help fund the acquisitions, which was reported from a separate filing.

The rest of the proceeds would be used for security-related products and repaying bankloans. The reports also say that trading in the company's Shanghai-listed shares is still to remain suspended as they have been since mid-December when they were halted pending an announcement from the company.

Amongst other activities, China Security & Fire Co., Ltd provides integrated security systems and is also involved in the computer systems integration, technological development, and technology transfer activities, and provision of technical consultancy and services in the field of computer software and data processing.  It has operations in China, South America, Asia, Europe, and Africa. The company was formerly known as Shanghai Feilo Co., Ltd. and changed its name to China Security & Fire Co., Ltd in March 2015. China Security & Fire Co., Ltd is headquartered in Shanghai, China.