Archive for the ‘BVI Company Joint Ventures’ Category

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BVI-based ASM opened new Indian branch

Friday, May 27th, 2011

Aviation Services Management (ASM), the company incorporated in the British Virgin Islands and based in Dubai, announced that it had opened a new branch in India, Mumbai. The BVI company has the purpose to accommodate an increasing number of high-net-worth individuals.

This is the second ASM’s branch in India, the first one was opened in Goa in 2006. In December 2010, Aviation Services management and Abu Dhabi-based international luxury flight services company Royal Jet formed a joint venture to target the Indian market. Currently, the BVI company provides charter sales and marketing in India for Royal Jet, and Royal Jet operates six Boeing Business Jets as well as Gulfstream G300 and GIV, Embraer Lineage 1000 and Learjet 60 aircraft.

ASM is also looking into many other areas to improve its service to the clients, such as logistics and operations support. Company’s expansion in India anticipates further growth in the business aviation sector. According to ASM, country’s corporate jet fleet currently stands at 450 (136 of them being registered in India), and is projected to rise to 1,200 aircraft by 2020.

The BVI company, founded in 1998, specializes in flight support services, operations consultancy, charter brokerage, aircraft management, flight planning and government and regulatory compliance. Almost half of its business is reselling fuel.

ASM reported US$165 million in turnover last year, this is a 20-percent increase in its business over 2009. The BVI company now employs 40 people in Dubai and the nearby emirate of Sharjah, as well as in the UK, Goa and Mumbai.

Posted in BVI company investments, BVI Company Joint Ventures, BVI IBC Business News | No Comments »

BVI corporation purchases stake in Pan American Energy from BP

Monday, November 29th, 2010

Yesterday, British Petroleum (BP) has agreed to sell its 60 percent stake in Pan American Energy, which is the second largest producer of oil and gas in Argentina, to Bridas Corporation, a British Virgin Islands-incorporated joint venture engaged in oil and gas exploration in Argentina. After the sale, Bridas will have total ownership of Pan American.

The sale which will cost 7.06 billion dollar is expected to be completed next year. According to the statement of British Petroleum, the deal was part of its plan to divest up to 30 billion dollars of assets by the end of 2011 to cover costs incurred during the Gulf of Mexico oil spill at BP drilling rig. So far, BP raised 14 billion dollars from asset sales.

The BVI-registered Bridas Corporation is 50%-owned by Cnooc International, the international subsidiary of China National Offshore Oil Company, and 50% by Bridas Energy Holdings.

Posted in Agreements and Contracts concluded, BVI Company Contracts, BVI Company Joint Ventures, BVI Company Mergers & Acquisitions, BVI IBC Business News | No Comments »

Exploration company signed JV agreement with BVI-registered International Diamond Consultants Ltd

Thursday, November 11th, 2010

Paragon Diamonds Ltd., a majority-owned subsidiary of Guernsey-registered company Obtala Resources Ltd., focused on mining and mineral exploration, entered into heads of terms to form a joint venture with a private British Virgin Islands-registered company International Diamond Consultants Ltd (IDC). The joint venture between Paragon Diamonds and BVI company is in respect of 85% owned subsidiary of IDC, Meso Diamond (Pty) Ltd., which is the holder of 100% interest over the Lemphane prospecting licence in the Kingdom of Lesotho. JV is expected to be established within 30 days.

By terms of the agreement, Paragon will acquire an interest of 10% of Meso following the expenditure of US$2,000,000 on Lemphane. Initial cash payment of US$500 thousand is payable immediately to start the exploration work, further US$500 thousand will be paid to advance its second phase, payable in cash six months following the completion of the JV agreement. A final payment of US$1 million payable in cash or shares in Paragon twelve months after signing of the joint venture agreement.

International Diamond Consultants Ltd is focused on evaluating and developing diamond projects in sub Saharan Africa. 44.3% of the BVI company is owned by Grandinex International Corp.

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Pansoft forms JV with Japanese companies

Wednesday, September 1st, 2010

British Virgin Islands-registered Pansoft Company Limited made an announcement that it has signed the agreement with two Japanese companies, Management Information Center Co., Ltd. and Seven Colors Corporation, to form a joint venture under the name Pansoft (Japan) Company Limited. The newly formed JV will merge the related divisions from the Japanese companies to engage in a contractual relationship with Sharp Business Software Development Center (SBC), a unit of Sharp Corporation, to conduct outsourced testing of mobile-phone software.

Under the terms of the agreement, the BVI corporation will invest US$2.7 million for 80% stake in Pansoft (Japan) Company Limited, which will have two subsidiaries. One of them will be based in Osaka, Japan, and will be comprised of the two departments merged from the JV Partners, and the second one will consist of a software development and testing center based in Jinan, China.

Management Information Center Co., Ltd. and Seven Colors Corporation will be responsible for sourcing business orders and maintaining the relationship with SBC.

Chairman of the BVI company Hugh Wang said that joint venture with Japanese entities is the starting point of company’s entry into the Japanese outsourcing market, and they are optimistic about the market demand for overseas software outsourcing services. By his words, the mobile-phone software market is also expected “to experience dramatic growth” in the near term. In two years, Pansoft is expected to reach more than JPY 1 billion in annual revenue.

Posted in Agreements and Contracts concluded, BVI Company Contracts, BVI Company Joint Ventures, BVI IBC Business News, NASDAQ listed BVI Companies | No Comments »

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