Archive for the ‘Agreements and Contracts concluded’ Category

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

Tuesday, 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

Monday, 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.”

Origin and Arcadia Biosciences entered into collaboration agreement

Wednesday, March 15th, 2017

Origin Agritech, LLC, a subsidiary of BVI-incorporated agricultural biotechnology company Origin Agritech Ltd., and Arcadia Biosciences, Inc., a California-based company focused on developing and commercializing agricultural productivity traits and products, announced their collaboration to achieve the export to the US of key corn biotechnology product developed in China, to complete global regulatory trials. The exported corn seed contains an insect resistance/herbicide tolerance trait discovered and developed in China.

The collaboration is a key milestone in BVI corporation’s strategic business plan of achieving global regulatory approvals for cultivation and international grain movement. This first-ever export of this kind strengthens Origin’s leading positions in China biotech market. Under the agreement signed between Origin and Arcadia, the US company will provide assistance to Origin in developing information for submission to regulatory authorities in the United States, China and other countries, to receive approval of their traits in corn. The project includes production of inbred and hybrid seed lines under quarantine conditions in Arcadia greenhouses.

Luxoft Holding announces partnership with ArrivalGuides

Wednesday, March 8th, 2017

Luxoft Holding, Inc. has become partners with ArrivalGuides, the world leader in supplying destination content to the travel industry, to make ArrivalGuides content available to BVI company’s clients. The head of the travel practice at Luxoft said that ArrivalGuides destination content will help provide higher value and solutions for travel industry clients. Luxoft has a unique position to help its clients to be in pace with the dynamic travel industry and leverage the latest technologies to maximize business outcomes.

The director of Strategic Partnerships and ArrivalGuides said in his comments: “Use of destination content in the travel industry is becoming more and more technologically advanced, making it harder for travel operators to get the best value without integration of the content in the current flow. Our partnership with Luxoft will give travel operators better options to drive their business in all phases of the traveler’s journey.”

ArrivalGuides is the global leader in distributing destination content having over 300 distribution partners; company’s distribution network consists of major brands that are using ArrivalGuides destination content to drive their travel business across all platforms and digital communications. Head office of the company is in Gothenburg, Sweden.