Carabella backs bid from China Kingho QUEENSLAND coal junior Carabella Resources has backed an improved bid by China Kingho Energy, which plans to use the Australian developer to create a global resources business outside of the economic powerhouse. The little-known private Chinese company had moved on Carabella earlier this month in a $66 million bid, offering 42c a share, which the target's board had advised shareholders to take no action on.