postpone an acquisition deal with Brilliance China Machinery Holdings Ltd.

BCAH, incorporated in Bermuda, said that current adverse market conditions, particularly for emerging market companies, were not favourable for an equity financing and that it was not in the best interest of shareholders to proceed at this time, according to Bloomberg business news service.

BCMH holds a 51 percent controlling interest in three equity joint ventures in China which manufacture and sell construction machinery products like road rollers, excavators, ad crawler tractor/bulldozers, as well as medium and heavy duty trucks.

BCAH expects to proceed with the acquisition when market conditions are more positive for the company to raise the funds required to complete the deal and for additional capital for the joint ventures.

BCAH was established in 1992 to own a 51 percent interest in Shenyang JinBei Passenger Vehicle Manufacturing Company Ltd., which was established in 1991.

Shenyang, located in Northeast China, manufactures and distributes minibuses in China. The company was the first with operations solely in China to list on the New York Stock Exchange.