Archive for the ‘BVI company investments’ Category

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London-listed BVI company AsianLogic Ltd purchases 27.87 million new shares of publicly listed gaming firm

Tuesday, July 15th, 2008

A London-listed company AsianLogic Limited registered in the British Virgin Islands has made a purchase of 27.87 million new shares of a publicly listed gaming firm.

AsianLogic Limited has announced its plans to form a joint venture with Leisure & Resorts World Corporation (LRWC). A newly formed company will be dealing with land-based sports book and sports betting operation.

LRWC is a Philippines-based company that manages the leisure business in the Philippines as well as operates various bingo parlors through AB Leisure Exponent, Inc. its wholly owned subsidiary. The subsidiary offers various bingo games that include Quick Shot, Instant Bingo Bonanza, Circle 8,  Player’s Choice, X Game and provides Video Link Bingo that allows bingo players to play the same game simultaneously in different parlors. LRWC was incorporated in 1957.

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HK-BVI knitwear company investing $3.1 mln to set up manufacturing in Bangladesh

Sunday, June 29th, 2008

Hong Kong- and British Virgin Islands-based company, Messrs Rosita Knitwears (Pvt) Limited is planning to establish a sweater manufacturing industry at Ishwardi Export Processing Zone (Bangladesh). The company will invest US$ 3.192 mln in setting up the plant to produce 1.75 million pieces of sweater annually, and thus will create work places for 2,047 Bangladeshi and 30 foreign nationals.

The HK-BVI company signed an agreement on this matter with the Bangladesh Export Processing Zones Authority (BEPZA) on June 16. Md Farhad Uddin, Member of BEPZA and Che, Chit Meng, General Manager of Messrs Rosita Knitwears (Pvt) Limited signed the agreement on behalf of their organizations.

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BVI-based Ascendium agrees on purchase price for China Medstar

Sunday, June 22nd, 2008

On Wednesday last week, PRC-based China Medstar Ltd. and British Virgin Islands company Ascendium Group Ltd. reached an agreement concerning the terms of Ascendium’s recommended offer to purchase Medstar for 62 pence per share in cash. The price represents a premium of about 96.8% to Medstar stock’s closing price on May 1, and its value is about 17 mln pounds. It was also said that the BVI company has acceptances for 79.35% of China Medstar.

The BVI-based Ascendum is held by Concord Medical Services Holding Ltd., for purposes of making acquisitions and investments in the Chinese medical equipment market.

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BVI-domiciled company markets $100M turnaround fund to invest in Egyptian enterprises

Sunday, May 25th, 2008

British Virgin Islands private equity firm shop Sphinx Capital Corp. is currently marketing a US$100 mln turnaround buyout fund Sphinx Turnaround Fund, to invest in small and medium enterprises in Egypt. The fund is planning to invest $10 million to $15 million, to acquire majority or controlling stakes in distressed or defaulting companies. The first closing is targeted to occur in July, with committed capital of $75 million. The International Finance Corp is making an equity commitment of up to $20 million in the fund.

Major part of BVI-registered Sphinx Capital Corp. is owned by Citadel Capital, an Egyptian firm founded in 2003 by Ahmed Heikal and Hisham El-Khazindar.

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