Archive for the ‘BVI IBC Investment Sales’ Category

CTDC completes disposal of non-core business to focus on solar industry projects

Tuesday, March 3rd, 2009

British Virgin Islands-registered China Technology Development Group Corporation (CTDC), working in the solar energy business in China and providing renewable energy solutions, has announced in the end of February that it completed the disposal of its non-core business of network security on February 16.

In the end of December 2008, the BVI company entered into a sale and purchase agreement in order to sell its wholly-owned subsidiary Jingle Technology Co, Ltd, including two companies wholly owned by Jingle – BHL Networks Technology Co., Ltd. (Cayman Islands) and Beijing BHL Networks Technology Co., Ltd. The companies will be sold for HK$200,000 in cash. Jingle and its subsidiaries are providing network security solutions and distribution channels in China.

CFO of CTDC, Mr. Gary Leung, said that now the company is going to concentrate its resources and management in the solar power plant and large scale application arena, and now will concentrate on its solar energy projects.