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HONG KONG, Aug 10, 2009 - (ACN Newswire) - CCT Resources Holdings Limited ("CCT Resources"/"the Company")(SEHK: 8163) is pleased to announce that Company has formed an Advisory Committee to advise the Board of the Company ("the Board") on its resources business in the fields of forestry business, oil palm plantation and the production of palm oil. The Advisory Committee will introduce business and government contacts and will provide advice to the Board for the establishment, development and expansion of the Company's resources business. The Advisory Committee is chaired by Mr. Wang Jun ("Mr. Wang"), and two members include Mr. Xu Dingming ("Mr. Xu") and Mr. Li Changwei ("Mr. Li"), who are the deputy chairmen of the Advisory Committee. The formation and the appointment are effective from 7 August 2009.
The Company has acquired a forestry project which consists of concession with an area of 313,500 hectares of natural forests in Papua, Indonesia. The forestry business will be developed into vertically integrated resources business including harvesting of trees and production of timber and wood products, plantation of oil palm and the production of palm oil for use as bio-fuel which is a kind of renewable green energy. The global demand of palm oil as alternative source of energy to fossil fuels has been increasing. The target market of the Company's resources business will be the People's Republic of China (the "PRC").
Mr. Mak Shiu Tong, Clement, Chairman of the Company said, "We are very excited to have the three experienced and prominent new members joining our Advisory Committee. All of them possess extensive business experience and excellent track record, and are well-connected with major companies and the PRC authorities in the resources and energy sector. In particular, each of Mr. Wang, Mr. Xu and Mr. Li is influential and highly respected in the PRC in the business, resources and energy community. We believe their advice and contribution will create value for and will strengthen our resources business in the long run, which will provide momentum to take our Company to the next level in its growth strategy."
Mr. Wang, Chairman of the Advisory Committee, possesses extensive experience in a wide range of businesses and is well-connected with major companies and government authorities in the PRC as well as overseas. Mr. Wang worked in the CITIC Group for 27 years since the founding of the CITIC Group, and worked with Mr. Rong Yiren, the former Vice President of the PRC in the establishment of the CITIC Group. Mr. Wang was the chairman of the CITIC Group from 1995 to 2006. Mr. Wang has devoted himself to and made significant contributions in expanding the CITIC Group into a huge and reputable transnational conglomerate which has achieved remarkable success in many business industries, ranging from banking and financial, resources and energy, industrial investment to service industries. Mr. Wang was a delegate of the 16th National Congress of the Communist Party of the PRC. He is presently a member of the 11th National Committee of the Chinese People's Political Consultative Conference.
Mr. Xu has devoted himself to and has undertaken a leading role in the planning, management and development of technology in relation to the energy sector of the PRC, and has made important contributions to the development of the energy strategy and energy industry of the PRC. Mr. Xu graduated from the Beijing College of Petroleum where he studied exploration of petroleum. He served in the oil industry for many years and during the past 40 years, worked in China National Offshore Oil Corporation, China National Petroleum Corporation, the Department of Energy, the State Development Planning Commission of the PRC and the State Development and Reform Commission of the PRC. He was Director of the Energy Office of the State Development and Reform Commission and Deputy Chairman of the National Energy Leading Group. Mr. Xu is presently the Counsellor of the State Council of the PRC and the Chairman of the National Energy Expert Consulting Committee of the PRC.
Mr. Li has over 30 years of experience in the areas of international trade and economic and technological cooperation, and he has made significant contributions to the advancement of technology of the state and military forces of the PRC. Mr. Li graduated from China Science and Technology University where he studied space physics. He served in various senior positions including serving as the vice president of China High Tech Industrialisation Association and the general manager of China Xiao Feng Technology & Equipment Corp., a state-owned military industry enterprise which is engaged in the import and export of technology equipment. Mr. Li was the special assistant to Mr. Rong Yiren from 1978 to 1980, during which time he gained valuable experience and established connections in the international trade and economic cooperation.
The timber business of the Company has been developed in accordance with the business plans of the Company and is expected to generate revenue to the Company in the second half of 2009. Because of the huge size of the forests covered by the concession, the forestry resources business will be developed over many years and is therefore a long-term business of the Company.
Contact:
JOVIAN Financial Communications Ltd.
Angel YY Yeung/Jacqueline Fong
Tel: +852 2581 0168
Fax: +852 2854 2012
Email: angel@joviancomm.com/
Email: jacqueline.fong@joviancomm.com
Topic: Corporate Announcement
Source: CCT Resources Holdings Limited
Sectors: Print & Package
https://www.acnnewswire.com
From the Asia Corporate News Network
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