Monthly Archives: July 2008

BVI-registered Euro Tech Holdings Company Ltd reports awarded 1.4 million contract

On July 10, 2008, a BVI-incorporated company Euro Tech Holdings Company Limited announced that its subsidiary, Yixing PACT Environmental Technology Company Limited has recently been awarded a contract.

The contract was awarded by an international engineering company, and it is worth about USD 1.4 million for a Guinea alumina project. This contract awarded to the BVI company’s subsidiary covers design, supply, installation and commissioning of a sewage treatment plant in Guinea.

Yixing PACT Environmental Technology Company, a global provider of environmental solutions for industrial and municipal clients, has big prospects to get further contracts from this Guinea alumina project, which is worth about USD 2.5 million around the end of 2008.

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

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.

Chinese-BVI company affirms its profit guidance for 2Q and full year following the earthquake

China-based designer of precious metal jewelry Fuqi International Inc. affirmed its 2nd quarter and full year profit guidance and said that decrease of demand related to last month’s earthquake in China will not affect its sales in the long term.

Fuqi International, which is operating through its BVI-registered subsidiary Fuqi International Holdings Co., Ltd. (Fuqi BVI), and China-based wholly owned subsidiary, Shenzhen Fuqi Jewelry Co., Ltd. (Fuqi China), is expecting to earn US$0.2-0.21 per share for the quarter, and between US$0.98 and US$1.04 per share for the year.

Wholesale demand for company’s products has slowed in Sichuan province, which received worst damages from the earthquake which happened on May 12. The region represents 5% of its wholesale jewelry sales. However, the company said it does not expect any long-term slowdown in sales from this region.

Having published its preliminary financial results for the first quarter, the company gave raised financial forecast for the fiscal year 2008, with total wholesale revenue expected at the level of approximately US$290-$300 mln. Now the BVI company said it still expects wholesale revenue between US$62 mln and US$64 mln for the second quarter, and US$305 mln for the year period.