Archive for July, 2011

Indian companies invest into Mauritius, BVI and other offshore centres

Monday, July 25th, 2011

According to the release of Reserve Bank of India on overseas direct investment, almost one-third of money invested abroad by Indian companies as outbound investment have been in tax havens. More than 80 Indian companies invested in countries like British Virgin Islands, Mauritius and Cyprus.

In June 2011, investments by Indian companies in overseas markets made over US$5 billion, of them US$3.9 are in the form of guaranteed issues. More than US$600 million are in equities, and US$900 million is in the form of debt. Most of investments are in wholly-owned subsidiaries and joint ventures.

To name the leaders, the major investor in the overseas companies was Mundra Port with US$2.2-billion investment as credit guarantee in Australia; the second one was Biocon with US$350-million investment in its Malaysian subsidiary, followed by Sun Pharma with US$300-million investment in the British Virgin Islands.

Actually, 60% of equity investments by Indian companies come to Mauritius. The British Virgin Islands and other offshore tax havens are used by companies to save on tax in the United States.

China Technology makes changes in Board and management and announces Non-Deal Roadshow

Tuesday, July 19th, 2011

China Technology Development Group Corporation, the clean energy company which is registered in the BVI jurisdiction, headquartered in Hong Kong and has sales offices in Milan and Munich, made an announcement about the number of changes to its board and key management positions. The removals and appointments by the decision of the Board concerned the positions of Executive Director, Chief Financial Officer, and Chief Communications Officer.

Also, between 11 July and 14 September of 2011 CTDC will conduct a non-deal roadshow in some cities of the USA, including San Francisco (CA), Los Angeles (CA), New York (NY), and Boston (MA).

Tongxin International to make presentation at Global Hunter Securities Conference

Thursday, July 14th, 2011

British Virgin Islands-registered company Tongxin International Ltd., which is the largest independent supplier of engineered vehicle body structures (EVBS) in China, announced that company’s CEO William Zielke will present at the Global Hunter Securities Conference a full overview of Tongxin’s achievements, market position, new business initiatives and plans for growth. The Conference will be held at the Intercontinental Hotel in San Francisco, July 17-19, 2011.

BVI company’s CEO stated in his comments: “I am very pleased to discuss the recent achievements of Tongxin International and our plans to maintain our vigorous growth with Global Hunter’s audience of top institutional investors who are focused on China-based companies. I look forward to sharing with them Tongxin’s 20-year history of growth and our most recent initiatives for the future. I’m confident they will recognize our achievements and the opportunity to participate in our growth over the next few years.”

Global Hunter Securities, LLC is a full service investment bank focused on middle market corporate and institutional clients. Global Hunter has offices in San Francisco, New York, Houston, Ft. Worth, New Orleans, and Newport Beach, it has also presence in mainland China.

China Technology enters into strategic development agreement

Friday, July 1st, 2011

China Technology Development Group Corporation, a British Virgin Islands company specializing on solar energy products and solutions and headquartered in Hong Kong, announced during the Intersolar Europe 2011 in Munich that CTDC has entered into a strategic cooperation framework agreement with two other listed companies from China and Hong Kong – TBEA SunOasis Co., Ltd. and Goldpoly New Energy Holdings Limited. TBEA SunOasis Co., Ltd. , which is a subsidiary of Tebian Electric Apparatus Stock Co., Ltd. a professional hi-tech enterprise engaged in the research and manufacture of photovoltaic products and system integration technology. Goldpoly New Energy Holdings Limited is one of the largest solar silicon cell producers in southern China.

The BVI company and two other companies have formally announced their newly-formed PV investment consortium, aiming to improve efficiency and bring comprehensive solutions to solar park construction in Europe. Their consortium has already attracted the attention of leaders from political and business circles.

Subject to the agreement, the three parties will cooperate in all dimensions within the vertically integrated solar value chain, using their own advantages so to increase market share. Basing on CTDC’s established sales channels in China, US and Europe, the parties to the investment consortium will be able to effectively speed up module sales, installations on integrated systems, solar plant development.

The consortium also plans to start with a project company to jointly invest in and construct small-size solar plant, among other things it will cooperate over CTDC’s initiatives. By words of Mr. Jianxin Zhang, CEO of TBEA SunOasis, the PV investment consortium has strong financial support from China Development Bank and China Billion credit facilities.