HK skyscraper sold to BVI company in US$5.2mln deal

November 7th, 2017

Hong Kong tycoon’s company Li Ka-shing’s CK Asset Holdings has sold its stake in The Center, the fifth-tallest skyscraper in Hong Kong, for the amount of US$5.2 billion. Thus, the 73-story building was purchased for the record sum for a commercial property in HK. CK Asset Holdings said it expects to make a profit of US$1.9 billion (HK$40.2 billion).

The purchaser is C.H.M.T. Peaceful Development Asia Property Limited, an investment vehicle incorporated in the British Virgin Islands specially for this purpose. According to the market sources, the company’s largest shareholder is Beijing-based China Energy Reserve and Chemicals Group. Also, it is supposed that the purchaser will put on sale on the market each floor of the office tower after the purchase. The developer said the gain on disposal would be about HK$14.5 billion, adding that the proceeds of the disposal will be used for general working capital purposes of the group.

Bank of Asia (BVI) Limited chooses Avaloq digital solutions

October 30th, 2017

Bank of Asia, licensed in the British Virgin Islands, is planning to build its digital bank with the Avaloq Banking Suite, which will provide complete digital banking solutions through its Singapore based service centre Avaloq Sourcing (Asia Pacific).

The new bank, which was established in 2015 by its Founder and Chairman, Hong Kong based businessman and lawyer Carson Wen, is expected to start full operations by the end of 2017. It is primarily a digital bank focusing on lowering operational costs.

The Founder and Chairman of the bank Mr. Wen commented: “We want to start a bank that has cutting-edge technology as its foundation. We aim to utilise fintech and regulatory technology to enable us to undertake these processes with a much higher degree of efficiency and lower costs that will give us a huge competitive advantage over legacy banks.”

BVI company announced co-hosting of Taoping Alliance Strategic Summit 2017

October 24th, 2017

China Information Technology, Inc. (CNIT), the company incorporated in the British Virgin Islands, providing internet-based and distribution and ad display terminal sharing systems in China, announced that it will be co-hosting Taoping Alliance Strategic Summit 2017 with an advertising agency Shenzhen Taoping New-media Technology Limited, to expand business partnership. The summit will be held on October 26, 2017.

Taoping Alliance is a new media operating organization founded by CNIT and Shenzhen Taoping New-Media Technology Limited. The company is building up a nationwide advertising resource sharing platform.

Taoping Alliance Strategic Summit 2017 will include Taoping Alliance Strategic Summit conferring ceremony, technology highlights, business model introduction, symposium forum and dinner banquet.

Premier African Minerals completes successful fundraising

October 4th, 2017

Premier African Minerals Limited, BVI-based and AIM-traded mining and resource development company working in Southern and Western Africa, announced an underwritten offer to raise approximately £3.5mln before expenses, at 0.3 pence per new ordinary share. The offer, which is available only through on a “first come, first served” basis, received a strong response from private and institutional investors. Having been opened on 29 September 2017, it was closed on 1 October with £3,500,000 gross proceeds raised.

Premier African Minerals will issue additional 654,761,906 new Ordinary Shares at 0.3p each, above the shares already issued in regard to the swap agreement. The shares already issued in regard to the agreement will be repurchased by the company and re-issued to subscribers under the offer. Following the issue of the new shares, the BVI company will have 6,248,216,350 ordinary shares in issue.

The application will be made for the new shares to be admitted to trading on AIM and admission is expected to be received on or around 6 October 2017.