Archive for the ‘BVI company holdings’ Category

BVI-registered holding company announced financial results for the third quarter of 2010

Monday, March 8th, 2010
The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. (http://bvi-companies.blogspot.com/2009/03/global-tech-advanced-innovations-inc.html) reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.
In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009 (http://bvi-company-financials.bviincorporation.com/103/bvi-registered-holding-global-tech-advanced-innovations-reports-fiscal-results-for-q3-2009/). Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.
Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.
By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.

In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009. Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.

Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.

By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

Posted in BVI company holdings, Financial results of BVI Company Holdings, Unaudited financial results | No Comments »

Aubleauctions.com to close share exchange transaction with BVI-registered holding

Friday, February 5th, 2010

Ableauctions.com Inc., a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.

Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.

The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.

Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.
Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.
Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.
The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.

Posted in BVI company contracts, BVI company holdings, Share Exchange agreements | No Comments »

BVI holding FGX reported third quarter financial results

Tuesday, December 1st, 2009

British Virgin Islands-incorporated holding FGX International Holdings Ltd. announced financial results for the third quarter of 2009, where reported that its earnings from continuing operations more than doubled during this period. Company’s profit made $6.83 million, or 30 cents a share, up from $4.01 million, or 18 cents a share, in the same quarter previous year. BVI company’s revenue rose 14% and made $60.58 million.

The reason for increase in earnings was that company’s acquisition of Dioptics Medical Products continued to raise sales. The Dioptics products sales gave growth to company’s sunglasses business. An increase in revenue from both sunglasses and prescription frames was 70%, and from overseas markets it was 67% – covering the 12% decline in sales of reading glasses. However, international segment of the company benefited from the expansion of a reading-glasses program at a major Canadian chain, and the total drop in sales was attributed to a “shift in the timing of two large program updates.”

In the third-quarter of 2009, FGX International reported the increase of gross profit of 59.3% from 58% in the previous year, due to good product mix, lower product costs and reduced freight fees. Earnings from continuing operations of the company rose 113%, while total operating expenses fell 3%.

The BVI holding company expects sales to grow by 4% or 8% and earnings to increase 20% to 30% next year. It also plans to get a greater benefit from the second year of advertising reading glasses.

Posted in BVI company holdings, BVI company interim financial results, Unaudited financial results | No Comments »

BVI-controlled whisky producing company reports double profits

Sunday, May 24th, 2009

Inver House Distillers, the UK-based whisky producer, owned since 2001 by Pacific Spirits (UK), which is part of the British Virgin Islands-based Great Oriole Group and controlled by Thai businessman, announced the double pre-tax profits for 2008 calendar year – £7.5m compared with £3.8m in 2007.

The BVI-controlled Inver House Distillers commented the financial results saying that they “show pre-tax profit increasing by 96% in what has been another excellent year for the business”. At the same time, company’s turnover dropped to £51.5m last year, compared with £57.8m last time – on which the company blamed its “reduction in bulk trading”.

Last year, the company announced a £15m investment plan worked out by its BVI-owned parent company with the purpose to centralise its global marketing operations in Scotland. By words of Graham Stevenson, managing director of Inver House, their task is to sustain this success in “what will be a less favourable market in 2009”.

Posted in BVI company acquisitions, BVI company holdings, BVI company investments | No Comments »