Archive for July, 2012

BVI-based ASM enters into Joint Venture with Chinese Aviation Company

Monday, July 30th, 2012

Aviation Services Management, incorporated in the BVI and headquartered in the UAE, and operating global network of aviation services, has formed a strategic alliance with Asia Trip Support (ATS) – an aviation services provider in China, having offices in various locations of the country. According to this agreement, ATS becomes the exclusive representative of Aviation Services Management in China. ATS will take responsibility for providing services such as ground handling, permits, operations, etc.

ASM has extensive presence in USA, Europe, Africa and Middle East, and this joint venture provides for further expansion. Vito Gomes, Managing Director of ASM commented on the agreement: , “As we have been growing in the Middle East, Asia & Africa we expect South East Asia, China in particular, to be our forte in the years to come as we know that the Chinese market holds a promising potential. We would like to partner in as many regions as possible if it would benefit the industry as well as serve our clients. We feel that China is a dynamic market and can foresee tremendous untapped potential.”

BVI company and its subsidiary successfully conclude negotiations with Tanzania Government

Tuesday, July 17th, 2012

Orca Exploration Group Inc., BVI-domiciled exploration company focused on operations in East Africa, and its operating subsidiary PanAfrican Energy Tanzania Limited, based in Jersey, jointly announced their commitment to successfully conclude ongoing discussions with the Tanzania Government Negotiating Team.

On 9th July 2012, Chairman and CEO of the BVI company W. David Lyons met with Mr. Eliakim Maswi, Permanent Secretary of the Ministry of Energy and Minerals of the Republic of Tanzania, to review discussions between the Government Negotiating Team and BVI company’s subsidiary on a number of monetary issues and proposed amendments to the company’s Songo Songo Production Sharing Agreement, which was signed in 2001.

CEO of Orca Exploration Mr. Lyons said: “As the first commercial developer of Tanzania’s natural gas resources PanAfrican Energy has been involved in developing Tanzania’s gas resources for almost 20 years. On a broader basis we are also available to play a very supportive role to the Tanzania Petroleum Development Corporation (“TDPC”) as it works to implement a very large gas infrastructure program to better meet Tanzania’s urgent power and energy needs.”

BVI company issues project update

Monday, July 9th, 2012

Nam Tai Electronics, Inc. published an update on its acquisition of land in Wuxi, Jiangsu Province of China. Recently, the BVI corporation signed an agreement with the authorities in this region to purchase approximately 470,000 square feet for the expansion of its Wuxi manufacturing facility.

The construction of the new sections of the facilities will be commenced on July 13, 2012.

Nam Tai Electronics is still undergoing the approval process for the expansion project in its Shenzhen manufacturing facility. Although the company fully paid for the land use rights and additional compensations to farmers on the land, it is still waiting the release of the land by the local governmental authorities.