SHENZHEN, China, August 29, 2014 /PRNewswire/ -- Wanda Group, Baidu and Tencent announced today at a signing ceremony held in Shenzhen, that they will establish the "Wanda E-commerce Company", a Hong Kong registered joint venture. The JV wil...Read More »
PHNOM PENH, Cambodia, Aug. 27, 2014 /PRNewswire/ -- Agriculture, manufacturing, banking and real estate will be among the key business sectors to be discussed at the upcoming International Business Chamber of Cambodia (IBC) Investment Conference.
The conference will bring together senior government ministers, top economists and business leaders in Phnom Penh on October 6th and 7th.
Cambodia's Prime Minister H.E. Samdech Akka Moha Sena Padei Techo Hun Sen will deliver the conference's opening address on the morning of October 6th.
The keynote speech will be delivered by Donald Kanak, the chairman of Prudential Corporation Asia -- which is a leading sponsor of the conference.
Two major panels will follow the opening address and the keynote speech, both moderated by the renowned Wall Street Journal columnist Andrew Browne.
The first panel will look at Cambodia's Economic Outlook and will feature Eric Sidgwick, senior country officer at the Asian Development bank (ADB), the International Monetary Fund's (IMF) Cambodia representative Ahmed Faisal and Dr. In Channy, CEO of ACLEDA Bank who is also the Vice Chairman of the IBC and the chairman of the conference's organising committee.
Another panel at the conference will discuss Cambodia's Economic Advantage.
"The speakers and moderators list for the conference is looking very exciting and I am delighted to see the calibre of those who will be present for these important discussions," says Dr. Channy.
"There are a number of government ministers already in attendance and we are expecting more to confirm in the coming days and weeks," says Dr. Channy.
Government ministers attending the event will include Cambodia's Minister of Commerce H.E Sun Chanthol, Education Minister H.E. Hang Chuon Naron and Minister of Posts & Telecommunication (MPTC) H.E. Prak Sokhonn.
IBC Chairman Bretton Sciaroni, senior partner at Sciaroni and Associates, will chair a break-out discussion on Cambodia's Legal Landscape for Investors which will feature Senior Minister H.E. Mr. Om Yentieng, Chairman of Cambodia's Anti-Corruption Unit.
"This will be one of the most important discussions at the conference -- with investors constantly monitoring the political and legal situation in Cambodia as they make their investment decisions. The recent political breakthrough will be a big boost for investors who want to see similar breakthroughs in the legal landscape," Mr. Sciaroni says.
Platinum sponsors for the IBC conference are Prudential Cambodia, Jardine Matheson Limited, Sciaroni and Associates, ACLEDA Bank and ANZ Royal. Gold sponsors include DFDL and Ezecom.
The South East Asia Globe and its sister publication Focus ASEAN are media partners of the event.
Those wishing to register for the IBC Investment conference should visit the IBC's website at www.ibccambodia.com.
Cash Balance of EVERGRANDE GROUP Reaches 64.03 Billion Yuan, Ranks No.1 in China; HuiKa Yan Announces Multiple Business Strategies
BEIJING, Aug. 26, 2014 /PRNewswire/ -- On August 26th, The 2014 Midyear Achievement Announcement of EVERGRANDE GROUP was held at the Shangri La Hotel on Hong Kong Island, Hong Kong. The Group Chairman HuiKa Yan made a public announcement to the world: the EVERGRANDE GROUP will stand firmly to implement its multiple businesses strategies. An original report by Sina Leju follows:
He said that EVERGRANDE GROUP will stand firm to implement its multiple business strategies, which are announced to the public for the first time after long term and prudent investigation and survey. "After special research, we found that most of the World Top 500 Giant Enterprises would select multiple businesses strategies after they have developed to a certain size. As far as the size, team and brand of the Group are concerned, we will lose lots of development opportunities if we fail to implement multiple business strategies. Now, the Group has formally entered the strategic stage of "Multi + Size + Brand."
What are the new industries which the Group will enter? When will the Group enter these industries? HuiKa Yan said that that depends on market potentials. They may be modern agriculture, dairy industry and stockbreeding, or maybe new products like EVERGRANDE grain and oil product, and EVERGRANDE baby milk powder will appear soon. For the first time, He revealed to the public, "the Group will take a seat in the World Top 500 Giant Enterprises next year. In terms of the main indexes such as sales amount (which are essential for appraisal of the World Top 500 Giant Enterprises), we are confident to reach that."
Behind the new strategies, the achievement of multiple businesses had a big growth when compared with the same period of the last year, taking a lead in the industry. The mid-year data shows that, in the upper half of 2014, sales amount of the Group reached 69.32 billion yuan, a growth of 55.4 percent when compared with the same period of last year; with a net profit of 9.49 billion yuan, nearly double that of 4.81 billion yuan of WANKE Group; its total assets reached 421.65 billion yuan, a growth of 53.6 percent when compared with the same period of last year; as of June 30, the cash balance reached 64.03 billion yuan, a growth of 52.6 percent when compared with the same period of last year.
In addition, the other core indexes of the Group also witnessed a big growth when compared with the same period of 2013. By the end of June, the Group has completed 110 billion yuan, i.e. 63 percent of the annual goal, ranking top among real estate enterprises in China. The industry generally predicted that the last half year will see a warmer market. The Group may become the first real estate enterprise which fulfills the annual goal.
The fair achievement of the Group is due a lot to its size. As of June 30, the Group has 303 large projects in 147 cities in China, boasting a giant taking a lead in the industry in China. With the rapid growth of city expansion in China, there are growing demands for houses, and the Group has strived to provide houses of high quality and moderate prices to meet such demands, thus winning a return of increasingly growing achievement.
In addition, the cash balance of the Group is more than 64 billion yuan; the accumulated paid-in land payment has reached 175.26 billion yuan, showing strong financial strength. Steady and prudent financial policies have laid a solid foundation for the Group's further development in the real estate industry, and give guarantee for expanding its multiple strategies.Read More »
Three prime commercial properties to undergo green redevelopment
Total investment budget over HK$ 2.8 billion
HONG KONG, Aug. 25, 2014 /PRNewswire/ -- Chinachem Group's third Biennial Conference on Sustainable Development ("the Conference") will be held on 10 October 2014. Mr Sunny Yeung, CEO of Chinachem Group, revealed at a press conference that three prime commercial properties belonging to Chinachem Group will undergo green redevelopment with a total investment budget of over HK$ 2.8 billion, total Construction Floor Area (CFA) 640,000 ft2.
The Conference, with the theme of "The Future of Sustainability: From Planning to Implementation", aims to address current environmental issues, outline feasible solutions, share a vision for the future with the built environment as a key focus, and then finally provide in-depth analysis and views into how professionals can stay ahead of the curve on a practical level.
The Conference will be split into 3 sessions. Industry experts will present their views, then come together to participate in a panel discussion at the end of the session where panel moderators will look to arrive at some meaningful conclusions to session's theme. Mr Wong Kam-sing, JP, Secretary for the Environment, HKSAR Government, is the Guest of Honour who will open the conference by discussing the future of sustainability and where Hong Kong stands. The first session, "Sustainability -- The real impact on humanity" looks to discuss how current issues impact people and what progress society has really made in long-discussed areas such as climate change, healthy living and limited resources. The second session "Transforming the Built Environment -- Plans for the future" brings professionals from urban planning, real estate, engineering, architecture and related industries together to share their thoughts on the future. Finally, the third session "Implementing our Visions -- How do we do it?" aims to discuss the "how" in sustainable development, and look to highlight practical, innovative ways to move forward.
Mr Sunny Yeung said: "We hope that through meaningful exchange from experts from academic, policy research, architecture, engineering, urban planning, retail and other related fields, the conference will serve as a platform to bring us further understanding in the area of sustainable development."
Currently, three of Chinachem Group's commercial properties -- Asian House, Chinachem Central I & II, have already received Pre-certification under the Leadership in Energy and Environmental Design (LEED) Certification System developed by the U. S. Green Building Council (USGBC). With a total investment budget of HK$ 2.8035 billion, redevelopment of Asian House is expected to be completed by the end of 2017, and both Chinachem Central I & II will be completed by the end of 2016.
Mr Sunny Yeung said: "The three projects are based in prime locations and are core rental properties to Chinachem. Due to singular ownership over the projects, there is a higher level of energy efficiency. All three projects are green buildings. We believe the focal point of each project is not the amount invested, but our priority is sustainable development practices. This is Chinachem Group's responsibility to society."
Mr Sunny Yeung also said: "Before the implementation of the Buildings Energy Efficiency Ordinance, Chinachem Group studied energy use of existing properties in 2010. We employed a consultant to conduct analysis on energy use and carbon emissions for L'Hotel Nina et Convention Centre to develop a long-term energy saving plan. The introduction of energy-efficient hotel operations and management reduced electricity consumption by 3% in the summer between 2012 and 2013. L'hotel Island South reduced electricity consumption by 4.5% between 2011 and 2013. Chinachem Group has also organized large-scale events that address environmental impact, such as the Chinachem Walkathon, which will be held on 9 November 2014 this year, in order to achieve carbon reduction and environmental protection goals".
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XI'AN, China, August 25, 2014 /PRNewswire/ -- China Housing & Land Development, Inc. ("China Housing" or the "Company," NASDAQ: CHLN), a leading developer of residential and commercial properties in northwest China, today announced that ...Read More »
BEIJING, August 22, 2014 /PRNewswire/ -- On August 22, 2014, a charity gala titled "Fulfilling People's Dreams and Providing Tailored Beautiful Life -- MXIS Night" was organized in the Hebei Conference Center in Shijiazhuang by MXIS -- a cu...Read More »
Sterling Financial launches New Providence Opportunity Fund, A Real Estate Investment Fund, and Announces Its First Real Estate Acquisition
-- "The New Providence Opportunity Fund, Ltd. presents an excellent opportunity to investors to capitalize on decades of property experience of its Sponsor and it drives significant synergies with the existing fixed income mortgage funds managed by Sterling Financial Group, Inc."
NASSAU, The Bahamas, Aug. 22, 2014 /PRNewswire/ -- Nassau, The Bahamas based Sterling Financial Group ("Sterling"), announces the launch of the New Providence Opportunity Fund, Ltd. (the "Fund"). The Fund is a closed-end equity investment fund consisting of high net worth and institutional investors, which targets diverse real estate investment and development opportunities in the United States, Canada and the Caribbean.
The Fund seeks to benefit from Sterling's access to fundamentally sound real estate investments including development opportunities that were financially challenged by the Recession. The Fund will be active in markets where Sterling has both extensive real estate experience and existing platforms. Leveraging its relationships with developers, real estate private equity firms, private family investors, entrepreneurs and financial institutions, the Sponsor will identify opportunities, and upon acquisition, provide value-add initiatives to maximize total returns.
"We are pleased to bring New Providence Opportunity Fund to the market," said Steve Tiller, President and COO of Sterling "We believe that the combination of our extensive real estate investment, development and management capability and a highly efficient funding structure, is a recipe for success for many investors in today's market," Tiller continued. David Kosoy, Sterling's Chairman and CEO added, "we are pleased to add this fund to our other real estate offerings available, and I believe it is a great complement to our platform."
Simultaneously with the first closing of the Fund, Sterling is also announcing the acquisition and further development of Ocean Terrace, an existing ocean front condominium project located in the West end of New Providence island. The acquisition includes additional green-field acreage for future development.
"Ocean Terrace is now under new ownership and we are revitalizing a project that has been idle for some time. It is a true sign of strong improvements currently experienced in the Nassau real estate market and especially in the highly sought after western district. The project is an excellent addition to the notable projects that Sterling is involved in and it is a terrific complement to our portfolio", added Tiller.
The Sterling platform focuses on providing access to alternative market opportunities without compromising the North American standard for risk management, operational efficiency and regulatory requirements. Sterling leverages a management team with interdisciplinary real estate experience, a strong internal infrastructure and partnerships with leading service providers in order to capitalize on unique real estate investments and structures.
Kosoy further noted, "We have seen an increased demand from investors for quality real estate projects and funds that would diversify their exposure to traditional investments as well as providing attractive returns. We are pleased that we can offer a proven strategy on a tried and tested platform to a wider base of offshore and onshore investors through a product that has a potential to significantly enhance and diversify their portfolios."
Sterling Financial Group, Inc., a fully integrated and diversified real estate investment, development, management and services company that has an established track record of successes in the real estate industry. Over the past 40 years, Sterling and its principals have acquired over 5.5 million square feet of commercial real estate at a combined purchase price of over $2 billion. Prior to founding Sterling, the principals had previously been part of the controlling group of a publicly traded real estate company, which acquired and managed a portfolio of more than 20 million square feet of real estate across North America. Sterling is headquartered in Nassau, Bahamas.
NPOF Launch Press Release
For further information please contact:
Sterling Financial Group
SageEden Media Group
Notes for Editors
ABOUT STERLING FINANCIAL GROUP INC.
Sterling Financial Group is a Nassau, Bahamas based, financial services business founded in 2006. The company is privately owned and is regulated by the Securities Exchange Commission under the Financial Service and Corporate Providers Act.
The series of real estate and mortgage funds managed by Sterling invest and profit from a portfolio of privately held real estate investments and mortgage loans. The business is administered by David Kosoy and Steve Tiller and other respected real estate professionals who collectively have significant experience in the real estate and mortgage lending markets. The principals of Sterling have a track record over the past 40 years of successfully and consistently generating profits in the real estate investments and mortgage lending sectors in Canada, the Bahamas, the U.S. and the U.K.Read More »