Archive for May, 2009

BVI-registered Talon Metals acquires exploration projects in Brazil

Thursday, May 28th, 2009

BVI-registered mineral exploration company Talon Metals Corporation announced that it has concluded an agreement with a private company Kmine Holdings Ltd., to acquire full interest in its Brazilian subsidiary Bancor Mineracao Ltd. Bancor which is to be purchased by BVI company has eight areas in the Sergipe and Alagoas States of Brazil, comprising a total of 36,402 hectares, for which it already holds or has applied for potash exploration licenses.

The existing exploration data, concerning the acquired project, will be reviewed as part of Talon’s exploration program. Under the terms of the agreement with Kmine, the BVI company has acquired a 100% interest in Bancor for cash payments of US$20 million, payable over 10 years, of which US$375,000 was payable on closing of the agreement. By terms of the agreement, Talon may withdraw from it at any time and return the shares of the Brazilian company to Kmine.

Mr. Stuart Comline, President and CEO of Talon, has commented that the acquisition of the potash exploration licences in Brazil answers company’s strategy to acquire interests in holdings that have the potential to become substantial projects.

Also, Talon was recently awarded the exploration rights from the Departamento Nacional de Produçao Mineral (“DNPM”) to the Juruena Gold Project in Brazil. Now the BVI company undertakes more detailed assessment of previous mining and exploration at Juruena, to formulate a strategy to maximize the value of the project for Talon.

In this press release, the company also published an update on its agreement with the BVI company Saber Energy Corp., and informed that it continues due diligence review on the Saber CBM projects in Botswana.

London Town took three short-term loans from BVI company

Thursday, May 21st, 2009

An AIM-listed group London Town that operates 266 pubs because of some financial problems had to take three short-term working capital loans over the past 13 months. The company received three loans, totalling £6m, from the British Virgin Islands-registered Burac Invest and Trade, and it has been paying 10-15 per cent interest rates on these loans. On behalf of the Horizon Charitable Trust, this BVI company holds 48.4 per cent of the issued share capital of London Town.

London Town was established as a residential property developer. It came into the sphere of pub trade just in 2006 when it purchased 167 pubs for £94.7m from retired property investor.

The deal which was known as the first step in building London Town into a significant player in the pub industry, was funded through a £72.8m loan from Anglo Irish Bank, a £14m discounted bond issue and a £14.3m share placing. However, there is a drop in the pub industry now, so the acquisition along with three other smaller deals of London Town with the BVI company that followed in the next months, seems to be not in time.

BVI-registered Pansoft signs Solution Provider Agreement with Microsoft

Sunday, May 17th, 2009

BVI-registered Pansoft Company Ltd announced that it has signed a Solution Provider Agreement with Microsoft China, Co., Ltd, with the purpose to develop centralized financial and accounting solution for Microsoft’s Dynamics AX, a comprehensive Enterprise Resource Planning (ERP) software on May 11, 2009. Both companies will jointly announce the co-operation and promote the new solution together in the vast ERP market in China.

Pansoft BVI is the first and only Chinese company selected by Microsoft Business Solutions group as a Solution Partner for Dynamics AX. In addition, the business relationship with Microsoft helped the BVI company gain visibility; it designed and developed the first centralized financial and accounting application for PetroChina, which successfully brought PetroChina’s multiple branches and legal entities that had been using different accounting principles and calculated in various foreign currencies into one system and one platform.

Pansoft is going to create the new centralized financial and accounting application that will be major part of Microsoft’s Dynamics AX total solution. Pansoft’s centralized financial and accounting solutions will offer various distinctive features including consolidations, financial analysis, financial reporting and budgeting, which can significantly enhance operating efficiency and simplify financial and accounting procedures. The application is also highly scalable and can be used for a medium Chinese firm with a single organization, as well as large business with various subsidiaries and overseas offices.

Yucheng Technologies establishes new credit card call center for the Chinese bank

Friday, May 15th, 2009

In the end of April Yucheng Technologies Limited, a BVI-registered  provider of IT solutions and services to China’s banking industry, announced that it will deploy a stand-alone credit card call center for China Minsheng Bank – national joint-stock commercial bank of China, listed on the Shanghai Stock exchange and having a network of more than 25 branches covering major cities in China.

The credit card call center with brand new systems designed to track and avert fraud will utilize BVI corporation’s leading software to decrease wait-time and increase risk control. Also, Yucheng’s technology will help to lower bank’s credit card risk exposure.

CEO of Yucheng Technologies Mr. Weidong Hong commented, “As China’s number one provider of Channel Solutions, including call center and online banking, we are pleased to offer innovative solutions that add a competitive advantage, while lowering operating risk. We look forward to further developing our relationship with Minsheng and our presence in this market.”

The newly implemented system will enable cardholders to review multiple accounts seamlessly, and will streamline many business practices. Yucheng is the number one provider of call center solutions, which enable banks to better communicate with customers, to the banking industry in China.