BVI-registered company signed high-speed rail ATP contract

December 21st, 2011

Hollysys Automation Technologies, Ltd., the leading provider of automation and control technologies and applications in China, registered in the British Virgin Islands, announced that it has signed a contract of approximately US$4.2 million for supplying of 200-250km/h high-speed rail ATP equipment to Ministry of Railways of China, which will be finished delivering by December 31, 2011.

CEO and Chairman of the BVI company said in his comments: “We are pleased of signing this 200-250km/h high-speed rail ATP contract for the works we’ve already completed largely. With approximately 17,000 km of high-speed rail tracks currently in construction in China , we are still seeing a huge market potential in high-speed rail signaling market for leading players like Hollysys to realize and capture. Given the whole product suite of our proprietary high-speed rail signaling systems completed and received European Safety Standard certification, Hollysys is poised to explore the vast international railway market to further create value for our shareholders.”

Posted in BVI Company Contracts, BVI IBC Business News, NASDAQ listed BVI Companies | No Comments »

BVI company’s subsidiary suspends mining operations for safety reasons

December 8th, 2011

British Virgin Islands-incorporated telecommunications company Qiao Xing Universal Resources, Inc. announced that its wholly-owned subsidiary, Chifeng Haozhou Mining Co., Ltd., has suspended mining operations at its copper-molybdenum poly-metallic mine, located in Inner Mongolia, China. This was decided after the receipt of safety-inspection report from the inspection team based at the open-pit mining area. In the course of preliminary investigation, it was stated that the structural integrity of the mining-waste containment dam may have been compromised because of massive rainfall and flooding in this region of China in July-August 2011.

For the safety of company’s employees as well as for environmental protection concerns, the BVI company has ordered an immediate suspension of the molybdenum mining operation in order to further investigate the situation.

At the current moment, Qiao Xing Universal Resources is actively monitoring the mining-waste containment reservoir, and also is evaluating possible remedial options to fix the containment dam and resume mining operation as soon as possible.

Posted in BVI IBC Business News, Investors' News, NASDAQ listed BVI Companies | No Comments »

BVI-registered aviation services company expands its headquarters office

November 25th, 2011

British Virgin Islands-incorporated company Aviation Services Management (ASM), having its headquarters in the United Arab Emirates, officially announced the expansion of its headquarters in Dubai. After the lease agreement is signed, ASM’s offices occupy adjoining office space in the prestigious DAFZA office complex.

New office of the BVI company supports current and future planned capacity growth in product development, business development, marketing and customer relationship management.

Mr Vito Gomes, Founder and Managing Director of the company, has commented on the event: “ASMs extended Dubai office space along with our international office locations, will allow us to increase our capabilities that align with our current and future growth plans. The new space will allow us to expand our core teams to support the growth we are experiencing while giving us dedicated facilities to host customer briefings and other activities.”

Posted in BVI IBC Business News | No Comments »

Nam Tai Electronics signs major customer contract

November 14th, 2011

Nam Tai Electronics, the British Virgin Islands-domiciled company working in the spheres of electronics manufacturing and design, has signed a major customer contract for LCD modules. This agreement had already been mentioned in the press release on BVI company’s financial results for the third quarter of 2011.

Under the terms of the newly signed contract, the company expects to receive firm orders under the contract soon which will support high-volume production starting at the end of December 2011, with shipments beginning in early January.

Discussions with the second major customer to produce LCD module subassemblies for smart phone applications at the company’s Shenzhen site are in progress. The parties currently plan high-volume production of the modules to begin about June 2011.

Posted in Agreements and Contracts concluded, BVI Company Contracts, BVI IBC Business News | No Comments »

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