Category: JVN

CPP Entered into Agreement with Beijing Financial Inter-connection of Electronic Platforms to Provide Multiple Services

HONG KONG, Aug. 27, 2014 /PRNewswire/ — The board of directors of China Public Procurement Limited (HKEx stock code: 1094, the “Company” or “CPP”) is pleased to announce that CPP’s subsidiary Guocai (Beijing) Technology Company Limited (the “EJV”) has entered into a framework cooperation agreement with Shenzhou Yiqiao (Beijing) Finance and Tax Technology Company Limited (“Beijing Financial”) in relation to the inter-connection between their electronic platforms to provide various services.

Beijing Financial is a developer and operator of software in relation to financial, tax and payment management matters for small and medium-sized enterprises. It operates the Beijing Financial Management System, which is a software application system developed for finance and accounting practitioners, which integrates a financial information platform with various software programs in relations to financial, tax and payment management matters.

According to the agreement, Gongcai Tong (an online public procurement information platform run by CPP) and Beijing Financial Management System will be inter-connected to integrate various services, including credit investigation services, electronic receipt services, third party payment services and financial and factoring services. Both parties agreed to promote sales of Gongcai Tong and the the Beijing Financial Management System through various marketing channels, including internet, mobile applications or exhibition.

Credit Investigation Services

Subject to the relevant authorisation of the users of the Beijing Financial Management System being obtained, Beijing Financial agreed to provide financial data of such users to the EJV for the purpose of supplementing the supplier credit investigation and credit rating services of the China Public Procurement Platform.

Electronic Receipt Services

The EJV and Beijing Financial agreed to increase their cooperation in the research and promotion of the use of electronic receipts and the application of electronic receipts in pilot development areas and in electronic public procurement platforms.

Third Party Payment Services

The EJV, the Company and a third party payment service provider entered into a cooperation agreement in relation to the provision of third party payment services on the China Public Procurement Platform. The said third party service payment service provider shall be engaged for the provision of third party payment services, including but not limited to online payment services and electronic reconciliation services, to customers of Beijing Financial. Beijing Financial agreed to incorporate such services into the Beijing Financial Management System.

Financial and Factoring Services

Both parties agreed to jointly develop factoring services regarding export tax rebate and other financial services for exporters.

Mr. Cheng Yuanzhong, Chairman of the Company, said “We welcome the framework cooperation agreement with Beijing Financial. We will be able to utilize our respective strength to enhance operation efficiency and lower operating costs through the integration of certain products and services. CPP will be benefited in the long term.”

About China Public Procurement Limited

China Public Procurement Limited is listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 1094). The Group is principally engaged in the development of the public procurement services which involves the provision of procurement services to general public and government in the PRC, and the development of EMC service.

Jebsen tedrive Joint Venture Established to Bring tedrive Steering’s Advanced Steering Gear Technologies to China

SHANGHAI, Aug. 26, 2014 /PRNewswire/ — Jebsen Automotive Technik (JAT) and tedrive Steering are pleased to announce today plans to establish a 50:50 joint venture “Jebsen tedrive Steering Systems”. The joint venture aims to bring tedrive Steering’s advanced steering technologies to China. The new company will be formally registered by year-end in Shanghai, from where it will spearhead the localization of tedrive Steering’s full product range.

Top executives from Jebsen & tedrive Steering celebrating the creation of Jebsen tedrive Steering Systems at the signing ceremony in Germany.

Top executives from Jebsen & tedrive Steering celebrating the creation of Jebsen tedrive Steering Systems at the signing ceremony in Germany.

The new joint venture will draw on the operational knowledge and China-wide sales and service network of JAT and the technological expertise of tedrive Steering to satisfy the growing demand for high-quality automotive components in China. Jebsen tedrive Steering Systems will focus on supplying German-engineered steering systems, with plans to localize the manufacturing in China.

“As an established provider of advanced steering technologies to the global vehicle market, at tedrive Steering we are pleased to combine our strengths with those of Jebsen Automotive Technik in order to grow our business in China. With the support of JAT, we will develop the market for our innovative steering technologies in China and help the local automotive sector better serve its domestic and international customers,” said Pavel Gilman, Director, Corporate Strategy and in charge of founding the new joint venture with Jebsen.

tedrive Steering and JAT are confident of the continuing growth of China’s auto sector. Already the world’s largest automotive market, it grew almost 14% in 2013 according to the China Association of Automobile Manufacturers (CAAM), with 21.98 million vehicles sold. Sales for 2014 are expected to show a further 8 to 10% growth.*

With more than 60 years of experience, tedrive Steering is a global leader in the development, engineering and production of steering systems and components. Its product portfolio includes advanced steering technologies for all vehicle segments: from mechanical, hydraulic and electronic rack-and-pinion steering systems for passenger cars and light commercial vehicles to state-of-the-art recirculating ball steering gear technology for commercial vehicles and buses.

“Jebsen Automotive Technik and tedrive Steering are committed to ensuring that Jebsen tedrive Steering Systems develops into the high-quality leader in steering systems for China. By making full use of the nationwide Jebsen Automotive Technik sales and service network and leveraging synergies with our other market-leading joint ventures, we will be able to help tedrive Steering localize its innovative technology and support our OEM and Tier One customers with competitive system and component solutions at the same time,” Arnie Jensen, Director and General Manager of Jebsen Automotive Technik, also the board of director of the new joint venture said.

Jebsen Automotive Technik supports this market with three JVs: Mitec-Jebsen, which provides high-end engine balance shafts and gear set solutions; Jebsen-TCG Automotive Systems (Dalian), which manufactures high-performance variable oil and water pumps; and MSR-Jebsen Technologies, which produces precision machined components for powertrain customers in China.

About Jebsen tedrive Steering Systems

To be established in Shanghai in the fourth quarter of 2014, “Jebsen tedrive Steering Systems Co. Ltd.” will supply advanced steering technologies in China. It is a joint venture of tedrive Steering, managed by its holding company “Steering Systems Beteiligungsgesellschaft mbH” of Germany, a global leader in the development and production of advanced steering systems, and “Jebsen Automotive Technik Co. Ltd.”, a subsidiary of Jebsen Industrial.

About tedrive Steering

tedrive Steering is a specialised development partner and manufacturer of steering systems for the global vehicle market. The company with headquarters in Germany operates three plants in Wuelfrath and Chemnitz (Germany), and further production, sales and technical facilities in Istanbul (Turkey), Nabereznyje Chelny (Tatarstan, Russia) and Howell (Michigan, USA). tedrive Steering is a full-service provider in the field of steering technologies. The product portfolio encompasses rack-and-pinion steering and recirculating ball steering gear systems for all vehicle segments from small passenger cars to large trucks and buses. tedrive Steering sets the course, developing competitive high-performance steering technology for passenger cars and commercial vehicles, with its award winning iHSA® technology and lightweight steering solutions. For more information, visit http://www.td-steering.com.

About Jebsen Automotive Technik

Jebsen Automotive Technik Co. Ltd. (JAT), a subsidiary of Jebsen Industrial under the Jebsen Group, supports overseas component suppliers to localize their operations and business in China. It oversees Mitec-Jebsen as well as Jebsen-TCG Automotive Systems, which produces high-performance variable oil and water pumps, and MSR-Jebsen Technologies, which manufactures high precision components for powertrain system. The company continues Jebsen’s history as a leader in Greater China’s aftermarket spare parts and services since 1921. For more information, visit http://www.jebsenindustrial.com/JAT.

*[Source: http://www.reuters.com/article/2014/02/13/us-china-auto-sales-idUSBREA1C0DR20140213]

Photo – http://photos.prnasia.com/prnh/20140822/8521404727

Yongda Auto Announced the Grand Opening of Yongda Morgan

The First Dealership Company of Morgan Motor in Eastern China

HONG KONG, Aug. 25, 2014 /PRNewswire/ — China Yongda Automobiles Services Holdings Limited (“Yongda Auto” or the “Company” and, together with its subsidiaries, the “Group”, stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, is pleased to announce the grand opening of Yongda Morgan. Yongda is the first automobile dealership store in Shanghai and Eastern China authorized by Morgan, meanwhile, it symbolizes the extension of network of Morgan in Eastern China.

Yongda is China’s leading professional luxury and ultra-luxury automobile dealership group. The Company is the first in the industry to form a complete car sales chain of “driving learning, car buying, car selling, car rental, car repair and car maintenance”. It has become the largest domestic dealership group in the industry with the largest number of agency brands, the most complete services, and the most extensive operating network.

The Britain Morgan Motor Company is a motor brand with more than 100 years of history. Designed with personality and style in mind, the Morgan sports car is made from light-weight materials matched with modern high performance engines for a truly exhilarating driving experience. In the past 100 years, Morgan has been striving to produce the first-class sports cars, in order to provide customers with sheer driving pleasure, as well as high investment value. As the general agent in Eastern region, Yongda Morgan has launched the first showroom and service center in Shanghai, providing the unique classic sports car experience and choice for collection to high-end car owners. The person in charge of Yongda Morgan remarked, “Morgan, a car brand with profound British cultural heritage, will show its charm in this prosperous city — Shanghai, and Morgan’s products will be loved by the consumers in Shanghai and surrounding areas.” The opening of Yongda Morgan this time, not only provides the vast of car consumers with much convenience in choosing the top-class Morgan models, but also offers world-renowned excellent services and meticulous care for customers to the existing car owners.

About China Yongda Automobiles Services Holdings Limited

Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China focused on luxury and ultra-luxury brands. Yongda Auto has a strong brand portfolio of luxury and ultra-luxury brands including Bentley, Porsche, BMW, Audi, Jaguar Land Rover, Audi, Volvo, Cadillac, Lincoln, Infiniti and Morgan. As of June 30, 2014, it has obtained manufacturers’ authorizations to open and operate more a total of 152 outlets. Its network has a strong presence in East China, including Shanghai, and has expanded into other regions in China. In addition to new passenger vehicle sales business, Yongda Auto also provides customers with a comprehensive range of automobile-related services through its “one-stop shop” approach. These include after-sales services, automobile rental services, as well as a wide array of services that it offers in connection with pre-owned vehicles, automobile insurance products, credit products and automobile financing and leasing.

For further information, please contact:

Porda Havas International Finance Communications Group

Kelly Fung

+852-3150-6763

kelly.fung@pordahavas.com

Angie An

+852-3150-6736

angie.an@pordahavas.com

Kit Ng

+852-3150-6705

kit.ng@pordahavas.com

Victoria Huang

+852-3150-6731

victoria.huang@pordahavas.com  

Fax: +852-3150-6728

ACE Life Partners with AEON to Offer Life Insurance Through Telesales Channel

BANGKOK, Aug. 22, 2014 /PRNewswire/ — ACE Life, the global life insurance division of ACE Group, today announced a partnership with AEON Insurance Service (Thailand) Company Limited to jointly offer a range of life, personal accident and health insurance products to AEON Thana Sinsap (Thailand) PLC’s customers countrywide via telemarketing.  With the opening of ACE Life Telemarketing Call Center at Ted’s House Building, customers can conveniently purchase life insurance on the phone. 

To provide innovative products via this newly launched distribution channel, ACE Life has launched the ‘Two in One Protector’ plan specifically for this new segment of customers.  It provides death coverage from sickness and accident, dismemberment and total permanent disability from accident.  Premiums start from  as low as seven baht per day with medical expense benefit of 15,000 baht per accident.

Kevin Goulding, Regional President of ACE Life in Asia Pacific said, “Thailand is one of the core markets for ACE Life in Asia Pacific and our partnership with AEON signifies a milestone in our company’s strategy to  expand our  distribution channels.  Committed to strive for better service to our customers, we aim to deliver value added financial protection solutions to our Thai customers.”

Sally O’Hara, Country President of ACE Life Assurance Public Company Limited commented, “We are delighted to be partnering with AEON Insurance Service (Thailand) to provide innovative life insurance products to AEON Thana Sinsap (Thailand) PLC’s customer base.  Our partnership leverages ACE Life’s multi-channel business and service model in Thailand and we look forward to building a long and rewarding relationship with AEON.” 

Kevin Goulding, Regional President of ACE Life in Asia Pacific (center) and Sally O'Hara, Country President of ACE Life in Thailand (left) together with Sakarabhop Dhivarakara, Managing Director of AEON Insurance Service (Thailand) Company Limited (right) presided over the grand opening ceremony of the "ACE Life Telemarketing Call Center" at Ted's House Building on August 6, 2014

Kevin Goulding, Regional President of ACE Life in Asia Pacific (center) and Sally O’Hara, Country President of ACE Life in Thailand (left) together with Sakarabhop Dhivarakara, Managing Director of AEON Insurance Service (Thailand) Company Limited (right) presided over the grand opening ceremony of the “ACE Life Telemarketing Call Center” at Ted’s House Building on August 6, 2014

ABOUT ACE LIFE IN THAILAND

ACE Life Assurance Public Company Limited (ACE Life) is part of the ACE Group, one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, the ACE Group provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. The ACE Group’s core operating insurance companies are rated AA for financial strength by Standard & Poor’s and A++ by A.M. Best.

Specifically to meet the needs of financial protection and security of its broad range of customers, ACE Life in Thailand (ACE Life Assurance Public Company Limited) offers a comprehensive range of quality life insurance products and services.  The company partners with financial institutions and other companies to tailor individual policies for their clients and employees while ACE Life’s team of over 2,500 agents service and support customers throughout the nation.  

More information can be found at www.acelife.co.th.

ACE Life, ACE Group of Companies and ACE Limited are registered trademarks of ACE Limited.

Photo – http://photos.prnasia.com/prnh/20140821/8521404707

UK University and ACCA Offer Free Business Course to People of Hong Kong

Innovative study concept means anyone can study business without leaving Hong Kong

HONG KONG, Aug. 19, 2014 /PRNewswire/ — A new initiative, due to launch in September, will allow anyone in Hong Kong or anywhere in the world to study business for free at a renowned UK university, thanks to a collaboration between global accountancy body ACCA (the Association of Chartered Certified Accountants), the University of Exeter Business School and online learning platform FutureLearn.

Together, they are launching a Massive Open Online Course (MOOC) — Discovering Business in Society — which is free to study and open to anyone in the world with access to the internet. The aim of the eightweek course is to give anyone interested in learning the principles of business, including prospective undergraduate students, working professionals without a background in business, people looking to return to work after an absence, or anyone seeking to further educate themselves. And for those interested in entering the finance profession and seeking a route to ACCA membership, the MOOC can be a starting point.

Jane Cheng, head of ACCA Hong Kong, said: “The whole point of this MOOC is that it is all encompassing. Yes, it can be a way for someone looking to begin their journey into the finance profession with ACCA, but equally it could be useful to anyone in Hong Kong or any other country seeking to start a business to get a better understanding of what’s involved, or a parent looking to return to work with a new set of skills. It’s not unusual today for those people already in work to look to change career, and this gives them a taster of what it might be like in a business environment. It’s open to anyone, anywhere, of any age who wants to do it. 

“Because it is entirely online, anyone in the world with access to the internet can study it, even though it is delivered by a prestigious UK university. Even if those who study it choose not to use it to further their careers or become entrepreneurs they will have a deeper understanding of how business is relevant in society.”

The Discovering Business in Society MOOC will cover a range of topics, including:

  • Purpose and types of business organisation
  • The changing world of business
  • Environmental and regulatory factors
  • Economic factors
  • Internal organisation and governance

First steps to accountancy

For those who complete the course and choose to take the optional assessment at the end of the course, which does have a fee attached to it, it could be the first step on the ladder to becoming a qualified ACCA accountant.

Those who are successful in completing the optional examinations can claim exemption from the ACCA F1 paper, Accountant in Business.

Clare Minchington, ACCA Executive Director, said: “The option is there to get that first part of the ACCA qualification under your belt should you decide a career in accountancy is for you. However, we didn’t launch the MOOC just to give people the opportunity to study our globally recognised qualification. Those who study it are under no obligation to take the examination at the end. When we say it is open to all, we don’t just mean those looking to become ACCA accountants. Our ethos has always been open access and this MOOC is testament to that thinking.”

Register for the ACCA-sponsored MOOC at Discovering Business in Society

Notes to Editors

  1. ACCA (the Association of Chartered Certified Accountants) is the global body for professional accountants. We aim to offer business-relevant, first-choice qualifications to people of application, ability and ambition around the world who seek a rewarding career in accountancy, finance and management.
  2. We support our 170,000 members and 436,000 students in 180 countries, helping them to develop successful careers in accounting and business, with the skills required by employers. We work through a network of 91 offices and centres and more than 8,500 Approved Employers worldwide, who provide high standards of employee learning and development. Through our public interest remit, we promote appropriate regulation of accounting and conduct relevant research to ensure accountancy continues to grow in reputation and influence.  
  3. As the first global accountancy body entering into China, ACCA now has over 23,000 members and 48,000 students, with 8 offices in Beijing, Shanghai, Chengdu, Guangzhou, Shenzhen, Shenyang, Hong Kong SAR, and Macau SAR.
  4. Founded in 1904, ACCA has consistently held unique core values: opportunity, diversity, innovation, integrity and accountability. We believe that accounting professionals bring value to economies in all stages of development and seek to develop capacity in the profession and encourage the adoption of global standards. Our values are aligned to the needs of employers in all sectors and we ensure that through our qualifications, we prepare accountants for business. We seek to open up the profession to people of all backgrounds and remove artificial barriers, innovating our qualifications and delivery to meet the diverse needs of trainee professionals and their employers.
  5. For more information, please visit:
    www.accaglobal.com | www.facebook.com/ACCA.HongKong

Arcadia Signs First Digital Partnership in China with ShangPin for TOPSHOP and Miss Selfridge

— ShangPin.com, China’s online pioneer in fashion retailing, has signed an agreement with Arcadia Group Ltd to bring both TOPSHOP and Miss Selfridge into China.

BEIJING and LONDON, Aug. 13, 2014 /PRNewswire/ — ShangPin.com, China’s first online multi-brand retailer of designer and contemporary fashion, has signed an agreement with Arcadia Group Ltd to be their first online partner in China. Both the TOPSHOP and Miss Selfridge brands will launch on the ShangPin.com site from September 2014.

David Zhao, CEO of ShangPin commented, “In the last 2 years, we have been building China’s most ‘fashionable’ online customer database and being online means we have our finger on the pulse of what the consumer needs. China’s new fashion consumers are in their 20s-30s and are moving away from big logos to being fashion forward and wanting to express their individuality through mixing and matching styles and brands.”

The Arcadia Group Ltd’s portfolio of fashion brands is perfectly suited to ShangPin’s customer base and we are thrilled to be bringing both TOPSHOP and Miss Selfridge into China with their respective brand DNAs. They are already successful international retailers who have made their mark on the British high street as well as with partners around the globe and I am confident they will do well in China. We plan to deliver the most current fashion trends into 400 cities across China to dress a new generation of fashion lovers.”

Sir Philip Green remarked, “We decided to partner with ShangPin in China because they demonstrated to us their capacity to operate brands and understand marketing and brand building.  As we continue to grow our global expansion, this will be a step forward using the power of China’s online reach and therefore selling into one of the world’s most exciting consumer markets.”

ShangPin’s New Styling and Social Marketing Platform

China’s generation born in the 80s and 90s can spend up to 30% of their day online or on mobile and the influence of social media in China is unmatched anywhere in the world.

In September, ShangPin will be unveiling a new Styling & Social Marketing Platform on its website as a value added service offered to brands.

M. Claire Chung, Vice President of International Business Development comments, “We plan to style up to 1000 looks per month using all brands. These ‘looks’ can then be shared across all Chinese social media including Weibo, WeChat, and QQ. With TOPSHOP and Miss Selfridge, we will be able to show the customer how to mix and match the styles alongside designer brands.  We launched our mobile app last year and have already seen 40% of sales transacted on mobile. ShangPin’s investment in the Styling Platform shows our commitment to our brand partners not only to drive sales but to utilize ShangPin as a branding platform where customers can connect and share! This is the digital savvy new generation all brands must target for their next 20 years of growth along with the rise of the ‘fashion aware’ middle class in China. It is an exciting moment for fashion in China.”

About ShangPin
SHANGPIN – is the first full-price fashion retailer in China to offer current season designer and contemporary fashion brands to Chinese consumers throughout mainland China.  Since its founding in 2010, ShangPin has become the trusted online retailer for more than 5 million Chinese customers, offering an exceptional shopping experience and access to many brands from Lanvin to TOPSHOP. ShangPin prides itself on being an extraordinary brand partner, providing the branding, marketing services and local knowledge that foreign brands need to succeed in the Chinese market.  ShangPin’s principal investors include Chengwei Capital, Disney’s Steamboat Ventures, Morningside Ventures and Hillhouse Capital.  For more information, please visit us at www.shangpin.com.

About Arcadia Group Ltd
ARCADIA is the UK’s largest privately held fashion retail group. It is a fast-moving business comprising nine of the high street’s best known and most exciting fashion brands, including TOPSHOP and Miss Selfridge. Each of the Arcadia brands operates online with an ever-growing roster of concessions and international franchise outlets spanning Europe, the Far East and Middle East.

November 2014 sees the launch of a 40 000 sq ft TOPSHOP TOPMAN flagship on 5th Avenue in New York City, second only in size to the Oxford Circus home of the brands in central London.

Further information please contact Lillian Lee
lilin@shangpin.com or +86 186 4680 7779

For US media enquiries: Monique Krasniqi, KWITTKEN, mkrasniqi@kwittken, +1 646 747 0097

For UK media enquiries: Lydia Eden, KWITTKEN, leden@kwittken, +44 (0) 207 401 8001

Citi Commercial Bank and The Hong Kong Polytechnic University Jointly Launch Fourth Youth Leadership Program

Paving the way for the next generation of business leaders and entrepreneurs

HONG KONG, Aug. 4, 2014 /PRNewswire/ — Citi Commercial Bank and The Hong Kong Polytechnic University (PolyU) jointly announced today the launch of the fourth Youth Leadership Program, which will run from August 4 to August 9, 2014.  The week-long summer training program is developed exclusively for the children of Citi Commercial Bank’s clients with the objective of introducing participants to the key leadership qualities and skills of successful entrepreneurs, and important trends that are shaping the global business world today.

This year, 25 participants aged 16 to 19 will take part in the Youth  Leadership Program, which consists of lectures and workshops on leadership and entrepreneurship, a leadership training camp, and company visits in Hong Kong and Mainland China.  In line with the evolving business environment, two new modules were added to this year’s program on global e-commerce and retail management. Participants will have the opportunity to apply the newly-acquired skills and knowledge through a virtual business retailing competition, whereby students will be divided into groups to devise a business plan and compete for the highest profit against other groups.

Anson Kwok, Head of Citi Commercial Bank, Citi Hong Kong, said, “Given the importance of local enterprises to the future growth of the Hong Kong economy, it is crucial that business leaders are able to continue their entrepreneurial and innovative spirit through generations.  Citi has been advising Hong Kong businesses on, and helping them meet their banking needs for decades.  As their trusted banking partner, we understand the complex business environment in which our clients operate and we are well positioned to help their next generation seize opportunities and navigate through challenges to ensure the continuous success of the business. We hope that the Youth Leadership Program will serve as a good starting point for participants to understand the business world, and equip them with the positive mindset and leadership skills, which will benefit them for life.”

Mr. Raymond Chu, Assistant Director of Institute for Entrepreneurship (IfE), The Hong Kong Polytechnic University, said, “It is PolyU as well as IfE’s mission to foster and promote innovation and the ‘Do Well Do Good’ entrepreneurial culture in the University and the community. Given the success and encouraging feedback in the last three years, we are very happy to partner with Citi again this year to witness another batch of young people joining the program. The program will not only teach them the concepts and theories of entrepreneurship, but also foster the entrepreneurial spirit among the youths, paving the way for their development into the future leaders of Hong Kong.”

The 2014 Youth Leadership Program will run from August 4 to August 9, 2014.   This year’s program will cover:

Lectures/ Workshops

Activities

Global Leadership

Leadership Training Day Camp

Global e-commerce

– Company Visit  Mainland China

Innovation

Company Visit Hong Kong

Communication in a Diverse Work Environment

Virtual Business Retailing Competition

Business Sustainability

Dialogue with the CEO

Student Presentation

All participants who complete the course will be awarded with a Certificate of Attainment.

Asia Plantation Capital announces commercial collaboration in India

SINGAPORE, July 21, 2014 /PRNewswire/ — Singapore-based Asia Plantation Capital is proud to announce Phase 1 of a commercial collaboration in India with the country’s largest, public sector, agarwood plantation group – a community based project, extending across the whole of Southern India.

Vanadurgi Agarwood India was established around 10 years ago as a cooperative-shareholder business model – providing local farmers and landowners with planting stocks, and support to cultivate agarwood and other cash crops. The company has grown, and has now established over 5,000 grower plantations across South India; accounting for about 99% of agarwood trees currently in South India. In the prime plantation zone at Sringeri, in Karnataka, the company has established an old-model plantation system, an agriculture research station, an artificial-inoculum multiplying unit, warehousing and a packing and forwarding centre. In addition, a standard, resinous wood extraction facility with a large scale, primary processing unit is being planned here. Also, fully-fledged, primary processing units are planned at: Madikeri, Sakaleshpur, Shimoga, Sirsi, Puttur and Kollur (in Karnataka) with collection centres at Coimbatore (in Tamil Nadu) and at Kalpetta (in Kerala).

After visits by Dharmendra Kumar – the founder of Vanadurgi – to Thailand, and to other countries in South East Asia, to study and establish relationships with other commercial agarwood plantations, Asia Plantation Capital is proud that the group have chosen Asia Plantation Capital to work with them on developing inoculation solutions and the end-processing of agarwood into all the various (and increasing) products it can offer.

During early July, a team from Asia Plantation Capital’s Specialist Inoculation and Research Department carried out field trials in India to assess the best inoculation systems – based on our experience in perfecting a system in Thailand and Malaysia which has a 100% success rate in stimulating the production of agarwood resin, and which is 100% organic; comparable to oud oils produced in nature. Jack Sirichai, who headed the team from Asia Plantation Capital’s Thailand office (based in Bangkok) said, “It was an amazing experience to meet Dharmendra and his group of farmers when we arrived. Over 500 of them had travelled, for many hours, to meet and greet us with an official reception, held in our honour. We were overwhelmed to find so many people who share our passion for developing the agarwood industry and for employing the best husbandry and socially responsible management practices to advance this massive plantation industry in a sustainable manner. Providing and nurturing community support is a cornerstone of our own policies at Asia Plantation Capital; to share this with such a passionate group is key to our continued growth and success.”

The Asia Plantation Capital team will now be working closely with Vanadurgi to monitor and assess our inoculation processes. All countries (and even regions) have differing climatic and biodiversity conditions – all of which have a major effect on the performance of these systems – and it is important that we tailor and research our methods to provide the maximum yield and quality of the end oud that is produced in all the regions.

Phase 2 of the collaboration will see Asia Plantation Capital and Vanadurgi working on end-processing solutions, distillation, and developing consumer products which we can jointly market – creating the world’s largest, combined producer and supplier of agarwood – with the ability to offer long term, sustainable supplies of consistent quality to the global market place.

Asia Plantation Capital chooses, very carefully, whom it works with and with whom it shares its technologies. The benefits for the largest agarwood plantation group in India – gained by jointly working with Asia Plantation Capital – are the potential to create the largest, single supplier and grower in the world and to increase the market share for both companies. This offers both companies the opportunity to benefit from joint research and technologies; helping to further secure the future market and sustainable supplies of agarwood, for both companies and the industry.

About Asia Plantation Capital

Asia Plantation Capital is an owner and operator of a diverse range of commercial plantation and farming businesses across the Asia-Pacific region – and globally, part of the Asia Plantation Capital Group of associated companies. Their focus is on multicultural and diverse plantation projects, geared to the domestic and commercial demands of the countries in which they operate. Working closely with, and supporting local communities is an underlying core principle of the APC business – providing social and cultural support (as well as investment) to move these communities away from deforestation and illegal logging activities which were previously seen as a main source of income in some regions of Asia. Established officially in 2008, although operating privately since 2002, the group now has plantation and agricultural projects on four continents – with operational projects at various stages in: Thailand, Malaysia, China, Laos, India, Cambodia, Sri Lanka, Mozambique, The Gambia, North America and Europe.

Promoting the use of certified wood is the best way of preventing deforestation, protecting biodiversity and combatting poverty in the Tropical Rainforest regions. For the Yachting Sector, which strives for excellence and which is already involved in environmental efforts, this is also a way of ensuring that no wood from illegal logging is used.

About Vanadurgi Agarwood

The Vanadurgi Agarwood India Limited is a public sector company that is exclusively engaged in the cultivation, production and marketing of agarwood. The company has enormous experience, expertise and establishments in each and every segment of the agarwood industry. The company has established over 5,000 agarwood plantations and is emerging as one of the world’s largest agarwood plantation companies. Our goal is to become a one-stop-shop for agarwood raw materials, with no parallels elsewhere in the world. We plan to meet that goal through a combination of experience and partnerships with leading experts from around the world.

The company has established over 5,000 plantations across South India, accounting to about 99% of trees currently in South India. In the prime plantation zone at Sringeri in Karnataka, the company has established an old model plantation, an agriculture research station, an artificial inoculum multiplying unit, warehousing, and a packing and forwarding centre. Further, a standard resinous wood extraction facility with a large scale primary processing unit is also being planned here. Also, full-fledged primary processing units are planned at Madikeri, Sakaleshpur, Shimoga, Sirsi, Puttur and Kollur in Karnataka, and collection centres at Coimbatore in Tamil Nadu and at Kalpetta in Kerala.