Archive for January, 2008

BVI-formed Greenford Trading makes licensing deal with Genesis Worldwide

Thursday, January 31st, 2008

Greenford Trading, a newly-incorporated British Virgin Islands company belonging to the Russian investment and development company ArianaInterProject, has concluded a deal with Genesis Worldwide Inc.

According to the deal, Genesis Worldwide received license to build three light steel panel manufacturing plants in Russia over the next two-and-a-half years. Genesis said it will produce steel paneled structures using the Genesis Solution, which includes leading-edge software, industrial equipment, hardware, processes and engineering services.

The initial revenue of Genesis Worldwide will be 4 million USD from licensing its technology, the sale of industrial equipment and hardware, various training and consulting services required for the commissioning of the first plant. The licensed company will earn similar revenue from the commissioning of each of the two additional plants, which are projected to be commissioned by July 1, 2009, and July 1, 2010, with the revenue recognized at such time. Also, over the next five years, Genesis will earn minimum of 4.1 mln USD in royalty fees.

BVI- and Vietnam-based corporations receive the award “Gold Cup – High Tech Product”

Saturday, January 26th, 2008

Diamon-Fusion International, Inc. (DFI), the company globally developing and exclusively licensing patented hydrophobic nanotechnologies, announced that its exclusive licensee in Vietnam, British Virgin Islands-registered Paradigm Network, Ltd., and Vietnam-based corporation GmG Co, LTD, received the prestigious Gold Cup Award, at the 2008 Home Tech Show of High Tech Architecture and Enduring Urban Design.

The Tech show where the BVI and Vietnam companies received the award, was held in Ho Chi Minh City, Vietnam, from December 28 2007 to January 2, 2008.

The award “Gold Cup – High Tech Product” is a manifestation of value of DFI’s patented nano-coating technologies, and the immediate impact of its recently signed exclusive agreement in Vietnam, managed by GmG, Ltd.

Michael Gailey of Paradigm Network, Ltd, and Ngo To Giao, CEO of GmG Co, LTD, said: “It’s truly amazing how such small things as Diamon-Fusion nano-technology can make such a big difference in daily life. Glass, granite, ceramics and porcelain are our natural building materials, strong, attractive and plentiful in Vietnam. Diamon-Fusion allows us to transform these basic building materials into high-tech wonders of enduring, sparkling beauty, easy to maintain, and best friends’ with the environment.”

Fil-Estate to issue $12.5 Million bonds through BVI-registered professional fund

Thursday, January 17th, 2008

On January 18, 2008, property firm Fil-Estate Land Inc. will issue $12.5 million worth of 5-year convertible bonds that represent the balance of its $25-million bond facility.

Fil-Estate informed the stock exchange that it signed an agreement on the bonds with a professional British Virgin Islands-registered fund Lim Asia Special Situation Master Fund Ltd.

The bonds issued by Fil-Estate can be converted into company shares of stock at a rate of P1.50 per share within 5 years. They carry a coupon rate of 4%, with an intended yield-to-maturity of 14% in case the notes are not converted by holders within 5 years.

According to Fil-Estate, proceeds from the bond issue will be used for funding the development of its projects. The projects to be funded include phases 5 and 6 of Manila Southwoods in Metro Manila; Boracay Villas, Forest Hills in Antipolo City; Sto. Domingo Residential Tower and Thomas Residences in Quezon City; Sta. Barbara Heights in Iloilo province; as well as Newport Hills and Nasugbu Harbortown in Batangas province.

High net worth magnates invest in QPR football club

Tuesday, January 15th, 2008

Probably, good times have started for football club Queens Park Rangers (QPR), with such investors as Formula One tycoons Bernie Ecclestone (worth £2.25 billion) and Flavio Briatore (worth £110 million). There is one more new investor of the club – a well-known Indian steel magnate Lakshmi Mittal.

It is known that Briatore and Ecclestone have pledged to return the club into a Premier League force within the next three years. They completed their £14 million takeover in November, and spent £690,000 to acquire their 69% majority stake in the club. Ecclestone bought 15% for £150,000, while Briatore, through his British Virgin Islands-registered company Sarita Capital, bought 54% for £540,000. However, since the time of this deal with BVI company he has sold on 20% of his stake to Lakshmi Mittal. Mittal, who is the richest resident of Great Britain worth about £19.25 billion, has spent only £200,000 to purchase this stake.

However, Mittal is not likely to spend so much money and probably will remain a silent investor in the project, leaving Briatore and Ecclestone to push the non-successful club to the Premier League.

Also, Briatore and Ecclestone have made no attempt to pay off a £10 million loan to the ABC Corporation which carries a punitive  £1 million annual interest charge – that is a massive burden on a team with an annual turnover of £10-£15 million a year. Another £2 million is owed to former director and major shareholder Antonio Caliendo who waived £4.5 million of loans he was owed when he sold out to Briatore and Ecclestone.

Now it is the question whether Mittal, Ecclestone and Briatore are prepared to highten their investment and to put the club on the highest level.