Archive for March, 2013

Yoma and FMI set up new joint venture in BVI

Tuesday, March 26th, 2013

Yoma Strategic Holdings Ltd. (YSH), an investment holding company engaged in the development, management and sale of real estate properties in Myanmar and China, set up a Joint Venture with First Myanmar Investment Co Ltd (FMI) – a unit of Serge Pun & Associates (Myanmar) Ltd which is held by Yoma’s executive chairman, Serge Pun.

The new joint venture company was incorporated in the British Virgin Islands jurisdiction under the name of YSH Finance Ltd, with the purpose to hold Yoma’s and FMI’s joint investments in new investment opportunities in Myanmar.

Yoma will hold 80% of the joint venture, and FMI will be the owner of the remaining 20%.

The Chinese company also added that its current investment in the JV entity is less than 3% of its latest consolidated audited net tangible assets.

AIM-listed exploration company acquires plant from BVI-registered Sandi Hill Ltd

Saturday, March 16th, 2013

Arian Silver Corporation, a silver exploration, development and production company focused on projects in Mexico, has signed a provisional agreement with British Virgin Islands-incorporated company Sandi Hill Ltd, for the acquisition of a processing plant, known as El Bote Mill. Arian will pay an initial sum of US$100,000 to secure a 120 day due diligence period to confirm that the El Bote Mill is still suitable. Subject to the satisfactory results of Arian’s further due diligence, final purchase price for the plant is US$3.12 million.

After completion of the transaction, the plant would be disassembled and relocated to 24 hectare site on the eastern side of the San Jose Property. Arian’s CEO Jim Williams said in his comments that this relocation will allow the company to synchronise plant construction with increased mine capacity. He also stated: “I have commented previously on the obvious operating efficiencies and increased revenue potential from operating a Company-owned processing plant on site at San Jose and I am confident that our due diligence on the El Bote Mill will confirm this”.

Hollysys Automation Technologies receives certification of its proprietary HVC2000

Tuesday, March 5th, 2013

Hollysys Automation Technologies, Ltd., the company incorporated in the British Virgin Islands and providing automation and control equipment and systems in China, announced that its proprietary vital computer 2000, known as HVC2000, has been certified according to Safety Integrity Level 4 (SIL4) requirements of European safety standards.

HVC2000 is mainly used as a platform for on-board high-speed rail and subway signaling system development and it is one of the key products of the BVI company. HVC2000 has the characteristics of high reliability, scalability and safety. It is equipped with multiple rounds of safety protection and fault diagnosis methods, and follows all the safety design principals within European standards.

Certification of HVC2000 will accelerate the process of getting the certification of subway ATP and ATO and the completion of the whole subway signaling system. Subway ATS and CBI systems have already received certification.

Dr. Changli Wang, CEO and Chairman of Hollysys, said in his comments: “We are very pleased that we got the certification of HVC 2000 according to the most stringent European safety standards, which is marking another milestone towards the completion of our proprietary subway signaling system development and certification… we believe that our world class and newly developed subway signaling system will bring us special competitive advantages in propelling our subway business in both Chinese and international market leveraging our solid track record and brand-name recognition, and create value for our shareholders.”