February 3rd, 2010
The Chinese high-tech industrial materials manufacturing company China Gengsheng Minerals Inc., making its business through its subsidiary Gengsheng International Corporation (BVI), entered into an exclusive sales agreement with Junfu Sheng Precision Co., Ltd. The agreement is effective January 10, 2010.
Under the terms of this agreement, Junfu Sheng will market and sell Gengsheng’s fine-precision abrasives products US$0.44mln worth in the eastern part of Guangdong Province within 12 months of the agreement.
By words of Gengsheng Chairman and CEO Mr. Shunqing Zhang, the agreement “represents the first sales contract of our channel strategy, which is to find more abrasives dealers in different areas in China and to focus our marketing onto large-scale customers in the solar industry.”
Products to be marketed and sold by Junfu Cheng include fine precision abrasives used for polishing solar panels and precision equipments and for wire-slicing silicon wafers in the solar industry.
China Gengsheng negotiates with other distributors in different regions of China, in order to expand its abrasives business. China Gengsheng started the commercial production of abrasives during the fourth quarter of 2009. The abrasives market in mainland China and Taiwan makes approximately US$2billion, and the market for the solar-related abrasive products in China is US$750mln.
Posted in Agreements and Contracts concluded | No Comments »
January 30th, 2010
Scientific Games Corp. (http://finance.yahoo.com/q?s=SGMS), manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited (http://bvi-companies.blogspot.com/2007/02/playtech-limited.html), a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.
Scientific Games and Playtech (http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=VGG7131X1078GBGBXAMSM) will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.
Scientific Games Corp., manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited, a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.
Scientific Games and Playtech will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.
Posted in BVI Company Joint Ventures, BVI IBC Business News, Investors' News | No Comments »
January 26th, 2010
The chain of health clubs, Zest, the ownership of which in 2008 was transferred to a new British Virgin Islands-registered holding company Feisty Ltd, has sold seven of its twelve clubs in Western Australia. The sale will make the purchaser Ardent Leisure, Sydney-based owner of the Goodlife chain, the biggest operator in the region.
By words of Ardent chief executive Greg Shaw, the company had negotiated over Zest’s clubs in Western Australia since it bought 10 of the chain’s outlets in South Australia and Queensland in April 2008. During the next 18 months, Ardent will rebrand the clubs under its Goodlife banner and spend US$2.1mln on upgrades.
The transaction totally amounting US$42mln includes US$1mln cash and the balance in Ardent stock.
The chain of health clubs, Zest, the ownership of which in 2008 was transferred to a new British Virgin Islands-registered holding company Feisty Ltd, has sold seven of its twelve clubs in Western Australia. The sale will make the purchaser Ardent Leisure, Sydney-based owner of the Goodlife chain, the biggest operator in the region.
By words of Ardent chief executive Greg Shaw, the company had negotiated over Zest’s clubs in Western Australia since it bought 10 of the chain’s outlets in South Australia and Queensland in April 2008. During the next 18 months, Ardent will rebrand the clubs under its Goodlife banner and spend US$2.1mln on upgrades.
The transaction totally amounting US$42mln includes US$1mln cash and the balance in Ardent stock.
Posted in Agreements and Contracts concluded | No Comments »
January 22nd, 2010
Play LA Inc., a British Virgin Islands-registered advertising and publishing company to the online and mobile gaming industry, announced its plan to launch a Securities Awareness Campaign. The purpose of the awareness campaign, which will last from January 19 to August 15, 2010, is to assist in promotion of BVI company’s image and recognition amongst private investors. For this, the company will inform about its current and future objectives and potential with the intent to attract investors and stakeholders.
According to the information provided by the company, this campaign is similar to an advertising campaign, presenting a series of advertisements sharing a single idea and theme. It may also include the launch of a new web based investor relations platform, hiring of investor relations specialists, sponsoring research reports, placing ads on websites, interacting on message boards, etc.
Play LA also noted that its representatives, including the CEO of the company David Hallonquist, will attend the International Gaming Expo 2010, which will take place from 26-28 January at Earls Court Exhibition Centre in London, and actually is the world’s premier showcase in gaming and betting industry.
Currently, Play LA owns and operates 11 websites providing the unique sports news, advice and tournament information for the Sports, Casino Games and the Poker industry.
Posted in BVI IBC Business News, Investors' News, NASDAQ listed BVI Companies | No Comments »