BRIEF-Asia Resources says unit entered into agreement in relation to acquisition
* Purchaser, a wholly-owned subsidiary of company, entered into agreement with vendor in relation to acquisition
April 11 China Fortune Land Development Co Ltd
* Says units win land auctions for a combined 827.0 million yuan ($119.86 million)
* Says it plans to invest about 440 million yuan to set up nine firms
* Says unit acquires property projects for a combined 1.26 billion yuan
Further company coverage: ($1 = 6.8995 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)
LONDON, May 23 Azerbaijan infuriated state-run bank IBA's creditors on Tuesday by saying they could swap its debt for sovereign bonds but some would suffer losses and have to wait longer to be repaid.