Archive for December, 2009

A-Power Energy signed agreement to build biomass power plant in Thailand

Tuesday, December 29th, 2009

BVI-located company A-Power Energy Generation Systems Ltd. has made an announcement that last week it signed an agreement with Thailand company the provider of distributed power generation systems in China.

The deal, which is US$86 million worth, is for developing a 150-megawatt biomass power plant in Prachinburi, Thailand. The BVI company will design the power station, procure and install the three main engines and other auxiliary equipment. By terms of this agreement, A-Power will also be the general contractor for the five main power station systems. The work over the plant project has already started this month and is to be completed in two years and three months.  , through its Chinese operating subsidiaries, is the leading provider of distributed power generation systems in China. This year, it started several power generation projects in China and Thailand.

A-Power, through its Chinese operating subsidiaries, is the leading provider of distributed power generation systems in China. This year, it started several power generation projects in China and Thailand.

Last week on Tuesday, BVI company’s shares rose 5 per cent and made $20.51. In the past year, company’s shares have traded as low as $3.

CNC Development’s original trading symbols restored

Thursday, December 24th, 2009

British Virgin Islands-registered company CNC Development Ltd., which has recently announced the conclusion of the exchange offer with BVI holding Sing Kung Ltd. and became the owner of the full stock of Sing Kung, informed that the trading symbols for its securities have been restored to their original symbols.

In November 2009, the Financial Industry Regulatory Authority incorrectly determined that CNC Development did not comply with its reporting requirements, and initiated the change of symbols for BVI company’s securities. CNC Development, in its turn, demonstrated to the authority its full compliance with SEC filing requirements, and the trading symbols for its securities have been restored as follows: CDLVF for common shares, CDLKF for Class A Preferred shares, and CDLWF for warrants.

CNC also informed that it was never out of compliance with its reporting requirements because it had changed it status to become a foreign private issuer.

BVI-registered CIC Energy defers some activities on the Mmamabula Energy Project

Friday, December 18th, 2009

BVI-registered CIC Energy Corp., engaged in the exploration, development and operation of two coal properties in the Mmamabula Coalfields in Southern Africa, provided an update concerning regulatory developments in South Africa which resulted in company’s decision to defer certain financial, legal and engineering activities related to the Mmamabula Energy Project.

In the beginning of December, the Minister of Energy of South Africa provided information regarded the integrated resource plan under the Electricity Regulations on New Generation Capacity. In connection to this, the Company has revised and re-evaluated its current program of project development activities for the Mmamabula Energy Project. This program was designed to facilitate a rapid achievement of financial close and commencement of construction once a regulatory approval had been received. Now the company has determined that it would be reasonable to defer the project development activities unrelated to the regulatory approval process in South Africa, by deferring activities that are being performed by the financial consultants, legal consultants and engineering consultants who are assisting the BVI company in the development of the Mmamabula Energy Project.

This determination does not affect CIC Energy’s program of project development activities for the Export Coal Project and the Coal-to-Hydrocarbons Project, which are intended to be continued as previously planned.

Newly formed BVI company will be delisted from NYSE Amex

Tuesday, December 15th, 2009

The British Virgin Islands-registered company China Ceramics Co., Ltd., engaged in manufacturing of exterior ceramic tiles for commercial and residential properties in China, announced that it has received a notice from NYSE Amex. The BVI company was informed that it failed to comply with the NYSE Amex’s listing standards and therefore is subject to being delisted.

Generally, China Ceramics did not comply with the NYSE Amex’s standards from the very beginning, immediately after the business combination with Success Winner Limited which was completed in the end of November, when China Holdings Acquisition Corp., a special purpose acquisition company, merged into its wholly owned subsidiary and changed its name into China Ceramics Co., Ltd.

The BVI company has not yet determined whether to appeal the delisting of its securities. In case that China Ceramics is delisted from NYSE Amex, its securities are expected to be quoted on the OTCBB.