Archive for the ‘NASDAQ listed BVI Companies’ Category

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BVI-registered company signed high-speed rail ATP contract

Wednesday, December 21st, 2011

Hollysys Automation Technologies, Ltd., the leading provider of automation and control technologies and applications in China, registered in the British Virgin Islands, announced that it has signed a contract of approximately US$4.2 million for supplying of 200-250km/h high-speed rail ATP equipment to Ministry of Railways of China, which will be finished delivering by December 31, 2011.

CEO and Chairman of the BVI company said in his comments: “We are pleased of signing this 200-250km/h high-speed rail ATP contract for the works we’ve already completed largely. With approximately 17,000 km of high-speed rail tracks currently in construction in China , we are still seeing a huge market potential in high-speed rail signaling market for leading players like Hollysys to realize and capture. Given the whole product suite of our proprietary high-speed rail signaling systems completed and received European Safety Standard certification, Hollysys is poised to explore the vast international railway market to further create value for our shareholders.”

Posted in BVI Company Contracts, BVI IBC Business News, NASDAQ listed BVI Companies | No Comments »

BVI company’s subsidiary suspends mining operations for safety reasons

Thursday, December 8th, 2011

British Virgin Islands-incorporated telecommunications company Qiao Xing Universal Resources, Inc. announced that its wholly-owned subsidiary, Chifeng Haozhou Mining Co., Ltd., has suspended mining operations at its copper-molybdenum poly-metallic mine, located in Inner Mongolia, China. This was decided after the receipt of safety-inspection report from the inspection team based at the open-pit mining area. In the course of preliminary investigation, it was stated that the structural integrity of the mining-waste containment dam may have been compromised because of massive rainfall and flooding in this region of China in July-August 2011.

For the safety of company’s employees as well as for environmental protection concerns, the BVI company has ordered an immediate suspension of the molybdenum mining operation in order to further investigate the situation.

At the current moment, Qiao Xing Universal Resources is actively monitoring the mining-waste containment reservoir, and also is evaluating possible remedial options to fix the containment dam and resume mining operation as soon as possible.

Posted in BVI IBC Business News, Investors' News, NASDAQ listed BVI Companies | No Comments »

BVI company published results of Independent Technical Report

Tuesday, November 1st, 2011

British Virgin Islands-registered and Hong Kong-based company China Natural Resources Inc. released the results of an Independent Technical Report. The ITR relates to the coal resources and reserves contained at the coal mines located in Guizhou Province, China, at which the BVI company is the holder of mining rights. It is prepared by Behre Dolbear Asia, Inc., which is an affiliate of Behre Dolbear Group Inc., a mineral industry advisory and consulting group represented internationally in 11 cities, and specializing in performing mineral industry studies for mining companies, financial institutions and natural resource firms.

The Chairman and CEO of China Natural Resources, Mr. Feilie Li, in his comments said the following: “The results of the independent technical report prepared by Behre Dolbear are encouraging. The Company is committed to providing useful, transparent and internationally comparable coal reserve information to our shareholders and the investment community. The progress of the mine construction and/or upgraded mine development projects of the coal mines is satisfactory. Both Baiping and Gouchang coal mines are currently operating while Linjiaao coal mine is in trial run. The mine construction of Yongsheng mine, which has been granted a mining right permit to mine 600,000 tonnes per annum in its first phase of development, is expected to be completed next year and its trial run will be commenced thereafter. We remain positive about the prospects for the coal mining industry in the PRC and we will continue to pursue growth through acquisition and consolidation of small to medium sized coal mines.”

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BVI-registered Global Tech appoints new chairman

Monday, October 10th, 2011

Global-Tech Advanced Innovations Inc., British Virgin Islands-incorporated holding company operating in the business segments of home appliances and electronic components, announced that the company’s Board of Directors has appointed John C.K. Sham as Chairman of the Board. Mr. Sham uis the current President and Chief Executive Officer of the BVI company, also he has been a member of the Board of Directors since July 1991.

The new appointment is effective immediately. Mr. Sham is appointed to fill the vacancy resulting from the passing of Kwong Ho Sham, who had been the Chairman of the Board of Directors of the BVI company since its inception.

Posted in BVI Company management, BVI Holding Companies, NASDAQ listed BVI Companies | No Comments »

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