Archive for June, 2016

TechFaith launches new 4G smartphone model

Thursday, June 9th, 2016

China TechFaith Wireless Communication Technology Limited announced the launch of the new 4G, Intrinsically Safe Smartphone model, based on company’s popular model A-12. Shipping is expected to commence in June, 2016, targeting higher volumes in the global Oil and Gas Industry. This is the Android 5.1 based model with a 4.5 inch HD LCD screen with 3rd generation Gorilla Glass, dual cameras, push to talk functionality, a quad core processor and a number of outdoor applications.

By words of company’s CEO, Mr. Deyou Dong, “This is the latest example of TechFaith leveraging its design expertise to provide a tailored smartphone solution to an underserved market… We think that by providing a safety compliant smartphone device that does not sacrifice the features people rely upon, with an attractive design, we will have another commercially successful product, with opportunities in both the Domestic China and International markets.”

BVI company entered into investment deal with Universal Coal Resources

Friday, June 3rd, 2016

Polo Resources Limited, an international investment company focused on natural resources and domiciled in the British Virgin Islands, announced that its subsidiary, Polo Investments Limited, entered into a secured US$5,000,000 nominal value 15% redeemable convertible note with Universal Coal Resources Pte Ltd. In its turn, Universal, which is a Singapore-incorporated company, entered into a conditional agreement with Pan Asia Corporation Ltd. subsidiary to acquire an indirect 75% interest in PT Transcoal Minergy Coal Project, incorporated in Indonesia.

Universal Coal Resources is targeting a Singapore Stock Exchange Catalist Board listing, and the convertible note entitles the BVI company to convert the principal outstanding plus any accrued interest into not less than 20% of the share capital of Universal. Also, the funding under the convertible note will allow the Singapore company to undertake value adds to the TCM Coal Project. The note is repayable 18 months from draw-down, unless previously converted.