Archive for the ‘BVI Company & Subsidiary Financials’ Category

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Euro Tech Holdings Company Ltd reports contract awarded to PACT

Tuesday, September 2nd, 2008

BVI-based Euro Tech Holdings Company Limited has announced that its subsidiary, Yixing PACT Environmental Technology Company Ltd. has recently been awarded a contract from an U.S. textiles company based in Nanjing. The contract which is worth about US$1.5 mln is to be completed by January 2009, and covers design, supply, installation and commissioning of a 400 m3/hr water softening and heat recovery system.

Yixing PACT, Shanghai-based subsidiary of the BVI company, is a global provider of environmental solutions for industrial and municipal clients, focusing on water and wastewater treatment. Company’s capabilities cover design, manufacturing, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.

Posted in Agreements and Contracts concluded, BVI Company & Subsidiary Financials | No Comments »

Diguang International announces the increase in manufacturing capacity

Monday, April 7th, 2008

Diguang International Development Co., Ltd., China leader in the manufacture and supply of CCFL and LED backlights for liquid crystal displays, has made an announcement on April 2 that the Mobile Phone Strategic Business Unit at its newly acquired Dongguan facility has achieved estimated manufacturing capacity of one million backlight units per month. By the end of the second quarter of 2008, the company is expected to manufacture two million backlight units per month.

Song Yi, Diguang’s Chairman and CEO, has said that company’s “2008 strategic growth plan calls for expanded manufacturing capacity in all product categories … Direct ownership of the acquired facilities at Dongguan Diguang Science and Technology increases our flexibility in production scheduling.”

Also, two days before this the Nevada-based Digunang, located in Shenzhen and having its sales and marketing subsidiary registered in the British Virgin Islands, announced the postponement of the fourth quarter and fiscal year 2007 conference call that is originally scheduled for March 31, 2008. The company filed for time extension to file its Form 10K for the fiscal year ended December 31, 2007.

Posted in BVI Company & Subsidiary Financials, BVI IBC Business News | No Comments »

Deloitte Touche Tohnmatsu appointed as independent auditor of BVI-based CTDC

Saturday, March 1st, 2008

China Technology Development Group Corporation, British Virgin Islands company that provides clean and renewable energy products and solutions for solar energy business in China, announced that it has appointed Deloitte Touche Tohmatsu CPA Ltd.. to act as its independent auditor for the fiscal year ended December 31, 2007.

This appointment followed the expiry of the service term of Friedman LLP, and was based on recommendation and approval of the audit committee and the Board of Directors of China Technology on February 14, 2008. The reason for the change of the auditor was not any kind of disagreement between CTDC and Friedman, on matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

CEO of the company Charlene Hua commented on the appointment of the new auditor: “Given our strategic focus in the solar energy business in China, we believe that Deloitte’s strong presence in China will provide us with audit services that are more efficient and suitable for a rapidly growing company like ours. We also wish to thank Friedman for the excellent work and professional services provided by their team.”

BVI-domiciled China Technology Development Group Corporation has also a number of BVI subsidiaries, one of which, China Natures Technology Inc., about a month ago was disposed to an independent party for HK$10,000,000, pursuant to the sale and purchase agreement dated December 18, 2007.

Posted in BVI Companies Acquired & Sold, BVI Company & Subsidiary Financials, BVI IBC Business News | No Comments »

BVI-registered A-Power Energy Generation to sign contracts worth a combined amount of $72.3 million

Saturday, February 23rd, 2008

A-Power Energy Generation Systems, Ltd., a company registered in the British Virgin Islands, announced that in the mid of February it had signed two domestic contracts to develop distributed power generation systems, for a combined amount of $72.3 million.

The first contract for construction of a 24 MW distributed power generation system for a new paper and pulp plant in Wuzhong, China, $44.5 million worth, is expected to be started in June 2008 and completed in one year.

The second contract to construct a 24 MW distributed power plant in Hailen, China, is $27.8 million worth. The project is expected to begin this month, and also will be completed in approximately 12 months.

Mr. Jinxiang Lu, Chairman and CEO of A-Power Generation Systems, in his comments noted that, as the distributed power generation business continues to accelerate, these new contracts are ‘a testament to the market recognition of the track record and the ability to quickly develop and construct quality systems that meet the specific power and heat needs of the customers’. He also said that, in addition to these new contracts announced, there are discussions with a number of other potential distributed power generation customers, which will be probably turned into contracts over the next months.

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