Tagged: FNC

President Clinton to participate in First World Coffee Producers Forum in Colombia

In a panel with President Juan Manuel Santos on ‘Economic Sustainability and Rural Development to promote Global Stability and Democracy’ BOGOTA, Colombia, June 29, 2017 (GLOBE NEWSWIRE) — Today, the Colombian Coffee Growers Federation (FNC) announced that President Bill Clinton, the Founder of the Clinton Foundation & 42nd President of the United States, will address […]

Jeffrey Sachs to Open 1st World Coffee Producers Forum in Colombia

Coffee farmers and industry stakeholders from over 40 countries will address sustainability challenges of the coffee value chain under a co-responsibility approach. The ICO Executive Director, the President of Colombia and the CEO of the Colombian Coffee Growers Federation (FNC) will also take part in the opening ceremony, along with representatives of African, Asian and […]

Air Seychelles and Hong Kong Airlines Sign Codeshare Agreement

HONG KONG, Aug. 28, 2014 /PRNewswire/ — Air Seychelles, the national airline of the Republic of Seychelles, and Hong Kong Airlines, an internationally-acclaimed SKYTRAX 4-star airline, have signed a codeshare agreement to provide travellers with enhanced connections in Asia, Africa and the Middle East.

Under the codeshare agreement, Air Seychelles will place its ‘HM’ code on Hong Kong Airlines’ flights between Hong Kong and the capital of Thailand, Bangkok. In return, Hong Kong Airlines will place its ‘HX’ code on Air Seychelles’ flights between the Seychelles and Hong Kong, as well as between Hong Kong and Abu Dhabi, capital of the United Arab Emirates#.

The agreement was signed this week by Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines.

Manoj Papa said: “We are delighted to expand our network of codeshare partners with the addition of Hong Kong Airlines. As a leading international tourism destination, the Seychelles attracts a large number of travellers from across Asia, and through our codeshare agreement with Hong Kong Airlines, we are confident these volumes will continue to flourish. At the same time, residents of the Seychelles will benefit from direct access to the global finance and tourism hub of Hong Kong.”

Li Dianchun said: “This codeshare agreement is part of a comprehensive strategy to open up new markets and offer more choices to Hong Kong Airlines’ passengers. Our partner Air Seychelles is a well-respected airline that will successfully broaden our reach to the Seychelles and Abu Dhabi, two of the world’s fastest-growing and most exciting travel destinations. The agreement enables passengers to book any Hong Kong Airlines flight originating from China, Japan and Southeast Asia to Abu Dhabi and the Seychelles connecting through the Hong Kong hub. We anticipate strong demand on these routes and look forward to building our cooperation with Air Seychelles in the future.”

Tickets under the codeshare agreement can be purchased from 12 September 2014 for travel commencing on the same day# on the airseychelles.com or hkairlines.com websites. Bookings can also be completed through a travel agent, the airlines’ sales offices, or by calling the Air Seychelles’ Call Centre on +248 439 1000 or the Hong Kong Airlines Call Centre at +852 3151 1888 (Hong Kong) or +86 898 950715 (mainland China).

Details of the codeshare flights are as follows:

Routes

Flight No.

Departure*

Arrival*

Days of Operations

HKG – BKK

HX765/ HM5680

1810

1925

Daily

HX767/ HM5682

0055

0235

HX771/ HM5684

0750

0945

HX773/ HM5686

2315

0015+1

HX775/ HM5688

1215

1405

BKK – HKG

HX766/ HM5681

2025

0055+1

HX768/  HM5683

0825

1210

HX772/ HM5685

1125

1530

HX774/ HM5687

0210

0555

HX776/ HM5689

1505

1850

Routes

Flight No.

Departure*

Arrival*

Days of Operations

HKG – AUH

HX 1087/ HM 087

1910

2340

Mon/ Wed/ Fri

HKG – SEZ

HX 1087/ HM 087

1910

0635+1

Mon/ Wed/ Fri

SEZ – HKG

HX 1086/ HM 086

1555

0955+1

Tue/ Thu/ Sun

AUH – HKG

HX 1086/ HM 086

2155

0955+1

Tue/ Thu/ Sun

* All local time

#Subject to regulatory approvals.

Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines, sign a codeshare agreement between the two airlines

Manoj Papa, Chief Executive Officer of Air Seychelles, and Li Dianchun, Commercial Director of Hong Kong Airlines, sign a codeshare agreement between the two airlines

– Ends –

About Air Seychelles

Air Seychelles was established in 1978 and began long-haul service in 1983. The airline currently offers international flights to Abu Dhabi, Hong Kong, Johannesburg and Mauritius. Air Seychelles also offers more than 200 domestic scheduled flights a week throughout the archipelago, as well as domestic charter services.  As the national airline of the Republic of Seychelles, Air Seychelles is a pillar of tourism, the island nation’s strongest and growing economic sector. The airline maintains a strategic partnership with Etihad Airways, the national airline of the United Arab Emirates and 40 per cent stakeholder. For more information, please visit: www.airseychelles.com.

About Hong Kong Airlines

Established in 2006, Hong Kong Airlines has since grown to become an internationally-acclaimed carrier. Recognizing the warmth of its service and the quality of its onboard offering, Hong Kong Airlines has been awarded the highly-esteemed 4-star rating from SKYTRAX for three consecutive years. Based in Hong Kong, Hong Kong Airlines’ network currently covers almost 30 cities regionally, including Beijing, Shanghai, Sanya, Bangkok, Bali and Okinawa. Our current fleet has 23 aircraft, which includes three Airbus A330-300s, nine Airbus A330-200s and six A320s, with up-to-date inflight entertainment system and an average age of just one year as of 2013. And our cargo fleet consists of five Airbus A330-200Fs. Adhering to the concept of “Fresh and Very Hong Kong”, Hong Kong Airlines is committed to “Bringing Greater Journeys Sky High”, and is dedicated to providing an extraordinary flight experience to the passengers. For more information, please visit: www.hkairlines.com.

Photo – http://photos.prnasia.com/prnh/20140828/0861406173 
Logo – http://photos.prnasia.com/prnh/20140317/0861401583-b

China Cord Blood Corporation Receives Notice of Transaction Regarding its 7% Senior Convertible Note Due 2017 Held by Golden Meditech

HONG KONG, Aug. 25, 2014 /PRNewswire/ — China Cord Blood Corporation (NYSE: CO) (“CCBC” or the “Company”), China’s leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that the Company has been informed that Magnum Opus International Holdings Limited (“Magnum”), a private vehicle that is controlled by CCBC Chairman Mr. Yuen KAM and involves the CCBC management team, together with Cordlife Group Limited (“Cordlife”), a Singapore listed company and substantial shareholder of the Company, have agreed to purchase the Company’s outstanding 7% senior convertible note due 2017 (the “Note”) held by Golden Meditech Holdings Limited (“Golden Meditech”), CCBC’s parent company, for a total consideration of approximately $88.1 million.

The Note was originally issued by the Company to Golden Meditech in 2012 with an aggregate principal amount of $50 million. Magnum and Cordlife are each obligated to purchase 50% of the Note, subject to customary closing conditions and satisfaction of all relevant approvals and consents, including but not limited to the approval of Golden Meditech’s independent shareholders.

About China Cord Blood Corporation

China Cord Blood Corporation is the first and largest umbilical cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses.  Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today.  China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services.  For more information, please visit our website at http://www.chinacordbloodcorp.com.        

About Magnum Opus International Holdings Limited

Magnum Opus International Holdings Limited is incorporated in the British Virgin Islands. It is controlled by Mr. Yuen KAM, CCBC’s chairman of the Board, and involves the CCBC management team. Mr. Yuen KAM is also the Chairman and Chief Executive Officer of Golden Meditech.

About Cordlife Group Limited (Bloomberg stock code: CLGL SP)

Incorporated in May 2001, Cordlife Group Limited is a multi-product healthcare company catering to the mother and child segment and a leading cord blood and umbilical cord lining banking services provider. Today, Cordlife operates the largest[1] private cord blood banks in each of Singapore, the Philippines and Indonesia, and is amongst the top three market leaders in Hong Kong and India. Cordlife also holds approximately 10.02% and 31.81% stakes in China Cord Blood Corporation and StemLife Berhad respectively, both of which are their countries’ largest cord blood bank operators. For more information, please visit www.cordlife.com.

[1] Source : Deloitte & Touche Financial Advisory Services Limited report, 10 April 2013

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, performance and results of operations, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in statements filed from time to time with the U.S. Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com

ICR, Inc.
Mr. Bill Zima
Tel: (+86) 10-6583-7511 (China) or (+1) 646-405-5185 (U.S.)
Email: william.zima@icrinc.com

Maybank PE Leads Series D Financing For YPX Cayman Holdings

Looking to capitalize on the strong growth opportunities in China’s food & beverage industry, Maybank PE, the private equity arm of Maybank, made its maiden investment in China by investing in YPX

SHANGHAI, Aug. 22, 2014 /PRNewswire/ — YPX Cayman Holdings Co. (“the Company” or “YPX”), a leading quick service restaurant company headquartered in Shanghai, announced today the closing of its series D financing round of USD 25M. MAM PE Asia Fund I (Labuan) LLP, a fund managed by Maybank Private Equity Sdn Bhd (“Maybank PE”), is the lead investor in the latest financing round, with follow-on investments from existing investors such as LionRock Capital, Ignition Capital, as well as renowned individual investors such as Mr. Koh Boon Hwee, former DBS Bank and Singapore Airlines Chairman, and Mr. Peter Tan, former President of McDonalds Greater China and ex-CEO of Burger King for Asia Pacific. Series D financing proceeds will be utilized to grow YPX directly-owned stores and to expand YPX’s franchising system.

Cloud 9 Store

Cloud 9 Store

 

Three-cup Chicken

Three-cup Chicken

“We are truly excited to have an investment from a fund seeded by Malayan Banking Berhad, or better known as Maybank. Maybank is one of South East Asia’s largest banks, and the largest in Malaysia by market capitalisation. Named one of the Top 20 strongest banks in the world consecutively in 2013 & 2014 (by Bloomberg Markets Magazine July / August 2014), Maybank through its private equity arm has a very rigorous due diligence process, and we are honored to have passed their stringent test on our business and management. It is a very significant event for me and the Company to have the fund investing in us. Maybank PE brings a wealth of experience to help us grow our business,” says Chris Tay, CEO and founder of YPX Cayman Holdings.

Mr. Pneh Tee Keong, CEO of Maybank PE, says, “We are very pleased with this outcome. The upside for this segment in China is enormous, given the increasing middle class population. We are also comforted by the fact that we are investing in a sound business, and backing an experienced management team to help us navigate through the intricacies of operating in this market. We are very excited to be a part of what I believe will be a successful partnership with Chris, his team and all the other shareholders.”

With this fresh funding, YPX will be able to grow more stores via direct-owned operations as well as franchisees across China. The company will also allocate some proceeds for R&D to diversify its menu offering, brand awareness and information technology to support its future growth. “Serving good quality, value for money food has been the hallmark of YPX since its inception. This year, we have continued to focus on improving our food quality and safety standards; we see this as an ongoing pursuit that will continue to underpin all that we do at YPX. 2014 is also our inaugural year for franchising, and we are very committed to being a responsible franchisor. We will set up a robust system to support and train our franchisees as they are in all ways business people and want a good return on their investments,” says Tay.

“In the past, franchising had an undesirable reputation in China, due to a laggard monitoring system and a mismatch of values between franchisors and franchisees. The industry was further tarnished by unethical practices by franchisors who emphasized short-term gains over creating a sustainable brand name. However things are changing, albeit slowly, and the market is maturing for the better; franchisees are more informed and educated than before. We want to be the first one to stand out as the most sought after and most responsible franchisor in China. Needless to say, this will not slow down our own corporate-owned stores. Not only will this positively add to our revenue growth, it will also provide support to our franchised stores. In addition to this, we are true believers in the use of information technology in the F&B industry, when often times IT takes a back seat in our kind of business. So we will invest heavily on IT in the coming years. The hottest potential is that China is still urbanizing rapidly and its consumer market is going to be the largest in the world in the next few years, if it isn’t already,” adds Tay.

YPX’s first brand is Cloud9, a Taiwanese Fast Casual Restaurant chain, which currently has more than 40 stores in 12 cities. Founded in late 2010, Cloud9 was seed-funded by Qiming Venture Partners, well known for its highly successful investment in Xiaomi. Over the next year, YPX hopes to add two more brands, be it from the USA or another country that has good brand equity amongst Chinese consumers. Tay says, “We will not add another brand for the sake of adding a brand. It has to have the same core values as the first brand: serving a majority of the Chinese customers with the best food at the most affordable pricing. We have strict principles that we adhere to when developing and nurturing a brand. We do not want to segregate any spectrum of the customers. We want brands that can understand the Chinese consumers’ needs and always staying relevant. And it has to be scalable at the same time. We have a solid management team and our reputation of being professional, reliable and accountable attracts many brands from overseas to want to work with us to expand in China.”

On the topic of food safety, Tay adds, “food safety is of paramount concern in China. YPX will not compromise on food safety for the sake of growth as these two important objectives are not contradicting. We can do both. A high moral standard and superior transparent management culture are held in very high esteem in YPX.”

Mr. Daniel Tseung, MD of LionRock Capital, says, “We are delighted to have a Maybank associated fund as the lead investor in the latest Series D round and look forward to working with Maybank PE, other YPX shareholders, and the company management team in strengthening YPX leading position in the Quick Service Restaurant industry in China.”

Mr. Rich Tong of Ignition Partners says, “This latest investment shows that YPX is one of the best teams in the highly competitive food and beverage market. We congratulate them on this great milestone.”

About YPX www.ypxfood.com

Founded in Shanghai in 2010, YPX Cayman focuses on the management of casual F&B chains in China. CLOUD 9, the Company’s first brand, mainly focuses on the Taiwanese casual F&B and snacks segment. The brand now has more than 40 stores across China including Shanghai, Beijing, Tianjin, Hangzhou, Nanjing, Changzhou, and Hefei. The Company’s management team has a combined F&B chain management experience of over 80 years, having worked in brands like KFC, McDonald’s, Burger King, Dicos, Dairy Queen and Yoshinoya. The Company aims to be a leading casual F&B platform in China.

About Maybank PE www.maybank-am.com

Maybank PE is a wholly owned subsidiary of Maybank Asset Management Group Berhad (“MAMG”), which in turn is a wholly owned subsidiary of Malaysian Banking Berhad (Maybank). Maybank PE targets minority investments in the consumer and consumer related segments across the Asian region.

Its parent, MAMG, is Maybank’s asset management business unit and offers investors a diverse range of investment solutions. MAMG has in-depth experience in managing investments ranging from equity, fixed income to money market instruments mainly on behalf of and for corporations, institutions, insurance and takaful companies and individual clients. In addition to that, MAMG also offers unit trust and wholesale funds. It has regional footprint and on-the-ground presence in key markets of the region – Malaysia, Singapore, Thailand and Indonesia.

About LionRock Capital http://www.lionrockcapitalhk.com

LionRock Capital provides strategic, financial, and corporate governance support for growth stage companies in Greater China. It is supported by some of the world’s most successful entrepreneurs and family organizations, who also serve as valuable resources for LionRock’s investee companies and investment partners. LionRock seeks to build active, value-added, long-term relationships with company management teams and investors; its Managing Directors & Senior Advisors are internationally recognized leaders in business, investment, and corporate governance. The firm’s team of seasoned Asian professionals has a demonstrated track record of successfully helping management teams build & develop their businesses in Greater China and beyond.

About Ignition Capital http://www.igncap.com

Ignition Capital is the growth equity arm of a $3 billion global fund group which provides emerging industry leaders the investment and operations support to help them reach their long-term potential, in the technology, communications, consumer and healthcare sectors. Over the last 14 years, they’ve been working with a broad array of companies that have become market leaders in technology, telecommunications, consumer services and healthcare. They have seen their companies deal with difficult economic situations while still growing dramatically to either become public companies, or be sold to larger market leaders.

Photo: http://photos.prnasia.com/prnh/20140822/0861406013-a
Photo: http://photos.prnasia.com/prnh/20140822/0861406013-b

Secoo.com Announces the Completion of Around 100M in New Financing: Brings Fifth Avenue to China

BEIJING, July 28, 2014 /PRNewswire/ — Secoo.com, China’s largest luxury and high-end fashion e-commerce company, recently announced the completion of a new round of financing that has raised around US$100 million. The event represents the largest amount of financing raised in one round across the Chinese luxury and high-end fashion e-commerce sector to date.

The financing was led by CMC Capital Partners, with the participation of IDG Capital Partners, Ventech China, Crehol Capital (Mulliez Family Fund), and Vangoo Capital. Silicon Valley Bank also provided a credit line valued at several tens of millions dollars to the company.

According to China Luxury Market Study 2013 released by Bain & Company, Chinese consumers spend 350 billion yuan (approx US$55 billion) buying luxury products annually, about two thirds of which are spent in overseas purchases. As the leading luxury and high-end fashion e-commerce firm in China, Secoo responded to this market trend, providing Chinese high-end consumers with “one-stop” professional luxury services, from the identification, appraisal and sale of luxury products to after-sales maintenance and auction sale of luxury goods. As a result of years of dedicated operations, Secoo now has more than 3 million high-end members and has received acclaim and recognition from the capital market.

Secoo now sells products from hundreds of top international brands. After having formed strategic alliances with several European, American and Japanese name-brand luxury retailers, as well as making available a collection of the most comprehensive and newest limited luxury products worldwide, Secoo.com is already the largest online sales platform of luxury products and high-end fashion products in China. The firm has also established the largest luxury identification, appraisal and maintenance service center in the country, with off-line clubs dotted across mainland China, Hong Kong and Tokyo. Secoo is in the midst of opening more off-line experience clubs in Milan, New York and Paris.

Secoo CEO Li Rixue said, “The funds will mainly be used in our global strategic layout and overseas business expansions, as well as higher budget in marketing, developing its information technology infrastructure. In the future, we will try our best to meet the demands of high-end clients, both in mainland China and abroad, providing them with authentic, seasonal, and desirable luxury products.”

www.secoo.com 
zhuxiaoxuan@secoo.com