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HONG KONG, June 18, 2010 - (ACN Newswire) - China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK), the company focuses on energy management contract (CEM) business, is delighted to announce that, the Company entered into a cooperative framework agreement with New Times Global Investment Limited("New Times Global Investment") and Ningbo Sunbay Development Company Limited ("Ningbo Sunbay") to establish a cooperation on Sunbay Marina (Low Carbon Tourism) Project. By doing so, China Trends' CEM business can further extend to low-carbon tourism development plan, while shareholders of the Company may qualify for preferential scheme when purchasing any property available for sale in Sunbay Marina (Low Carbon Tourism) Project, details of which (if any) will be announced later.
China Trends, New Times Global Investment and Ningbo Sunbay established a cooperative relationship today. Pursuant to the agreement, China Trends will provide integrated system of solar photovoltaic/LED lighting/new insulation plate/energy saving media terminal for the Sunbay Marina (Low Carbon Tourism) Project. The RMB $15 billion investment is conducted by Ningbo Sunbay with approximate area of 21.7 km2 in Ningbo Xiangshan Harbor. China Trends will also provide energy-saving solutions and infrastructure under CEM basis for the Project.
With experience in capital market, the Company and New Times Global Investment will assist the Sunbay Marina (Low Carbon Tourism) Project in the project financing through fund raising or initial public offer in the capital market in Hong Kong;. Besides, China Trends' shareholders may qualify for a preferential scheme when purchasing any property available for sale in the Sunbay Marina (Low Carbon Tourism) Project. The scheme, if any, will be construed in compliance with the GEM Listing Rules.
As the Company is planning to provide energy-saving 3C electronics products and solutions to customers by mean of CEM under BOT model and to promote them in different aspects of the society, while the strong support from the PRC government would promote the implementation of CEM to facilitate the energy-saving service sector in the economy. Apart for the proposed acquisition on the reward redemption, distribution and advertisement broadcasting platform and remote education platform earlier, the Company also expects through the possible cooperation with New Times Global Investment and Ningbo Sunbay, to further extend the business of CEM to the low-carbon tourism development plan and increase the source of turnover.
The Sunbay Marina (Low Carbon Tourism) Project, being developed and invested by Ningbo Sunbay, is located in an area of approximate 21.7 km2 in Ningbo Xiangshan Harbor, the coastline of the Ningbo City in the PRC. The project is developed to be a low carbon leisure resort featuring leisure, sports and health, conference tourism, recreation and health-care.
Ningbo Sunbay and New Times Global Investment will invest and develop each of the sub-projects named "Sports and Leisure Park", "Sunbay Waterfront Resort", "Sunbay Marina International Hotel Management", "Sunbay Marina Yacht Club" and "Sunbay Marina Theme Park", "Sunbay Marina Resort Town" under the Sunbay Marina (Low Carbon Tourism) Project with promotion to international potential investors. It is expected that the first international promotion campaign will be held by late 2010.
New Times Global Investment will set up "Sunbay Marina Development Fund" to participate in the development of Sunbay Marina (Low Carbon Tourism) Project. The initial preliminary fund would be in the scale of approximate US$ 500 million. New Times Global Investment, together with other international investment funds is expected to invest approximate US$ 200 million directly in Ningbo Sunbay or its immediate holding company.
Contact:
Carmen Lee
Investor Relationship Department
China Trends Holdings Limited
Email: carmen.lee@8171.com.hk
Tel: 2111 9988
Direct: 2155 6275
Mobile: 6301 6611
Fax: 2111 9989
Topic: Press release summary
Source: China Trends
Sectors: Energy, Alternatives, Environment, ESG
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From the Asia Corporate News Network
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