Bank of Asia (BVI) Limited appointed new President

March 19th, 2019

Bank of Asia (BVI) Limited, the first digital bank in the BVI and one of the first fully digital cross-border banks in the world, announced the appointment of senior banker Dr. Peter Reichenstein as President. He replaces Bank’s former Interim President Wayne Yang who has returned to Hong Kong to his post of Managing Director and Head of Wealth Management at BOA Financial Group. The appointment of the new President is effective 15 March 2019.

Dr. Peter Reichenstein will be based in Tortola, BVI, and will work with Carson Wen, Founder and Chairman of Bank of Asia, and the Board to execute the Bank’s strategy in providing core banking services to offshore companies, trusts and high net worth individuals.

For over 10 years Dr. Reichenstein was Managing Director and Chief Executive Officer at VP Bank and Trust Company (BVI) Limited; prior to this he worked at UBS Private Bank, Financial Planning & Wealth Management International. He is also a former President of the BVI Bankers’ Association and member of the Economic Advisory Committee to the Premier and Minister of Finance in the BVI. Originally from Switzerland, he has been domiciled and has been working in the British Virgin Islands since 2000.

Harneys’ BVI received top tier ranking from Chambers and Partners

February 25th, 2019

Harneys British Virgin Islands has received a top tier ranking from Chambers and Partners for its Corporate & Finance practice, and remains consistent for its Dispute Resolution practice. Andrew Thorp, the head of Harneys’ BVI Litigation and Insolvency practice group, has been ranked a Bank 1 lawyer. Harneys is also the only offshore law firm ranked by Chambers for its Anguilla expertise based abroad.

Tanya Cassie-Parker, a partner in Harneys’ Transactional practice group, commented: “We are delighted with these results which affirm our unmatched expertise and prevalent leadership in the BVI. Our lawyers continue to dominate the market in advising on the most complex and high profile transactions.”

BVI company resumed operations at San Andres gold mine

February 14th, 2019

Aura Minerals Inc. made an announcement that it has resumed limited mining operations at its San Andres gold mine in Honduras. By words of the President and CEO of the BVI company, they have been closely working with local and national authorities and community to resolve the situation of the illegal occupation of their private lands by a small number of individuals. For the near-term, Aura will continue limited operations and expects to return mining activities to normal level progressively as the rule of law is enforced.

Aura’s President also said: “We are pleased to resume limited operations as the local economies were very detrimentally affected by the suspension. The suspension of operations negatively affects a number of stakeholders including our shareholders, close to a thousand employees and contractors and thousands of other Hondurans as the mine directly and indirectly, through taxes and a number of Aura initiatives, supports hospitals, schools and road maintenance among others.

Aura is focused on mining in complete terms – the so called 360° Mining. BVI company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. The Company continues to explore options at Sao Francisco, and has two additional gold projects in Brazil and one gold project in Colombia.

Hutchison Port opens the most advanced deep-sea container terminal in Thailand

February 1st, 2019

Hutchison Ports Thailand, which is a member of Hutchison Ports Holdings Limited, the world’s leading port network operator incorporated in the British Virgin Islands, announced official opening of Terminal D at Laem Chabang port in Thailand. The company is planning to invest US$600 million in the terminal which will be the most advanced deep-sea container terminal in Thailand, attracting some of the world’s largest container vessels. It is also one of the world’s first container terminals fully equipped with remote control technology, which provides additional safety, efficiency and productivity for shipping lines and other port users.

On full completion, terminal D will increase port’s container handling capacity by approximately 40%. An initial phase of terminal D is now officially open for operations.

At Terminal D opening ceremony at Laem Chabang, Managing Director of Thailand & South East Asia of Hutchison Ports said: “Terminal D is now becoming a reality and is already receiving some of the world’s largest container vessels. It is a world-class facility and provides a significant boost to Hutchison Ports Thailand’s operational efficiency and productivity. The investments that have been made clearly demonstrate that Hutchison Ports continues to be a serious long-term investor in Thailand’s infrastructure.”