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Archive for December 2010

Online Marketplace Expanding Globally

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2010-12-27 09:00 


Asia Pacific GM Promoted to President

SHANGHAI, Dec. 27, 2010 /PRNewswire-Asia/ —, the largest global online marketplace for the manufacturing industry, today announced the promotion of James Jin to the position of President of MFG.comAsia Pacific ( APAC). In this role, Mr. Jin will be responsible for the development and execution‘s business strategy and operations in APAC. Previously, Mr. Jin was Vice President and GM APAC.

In its 10 year history, has built a solid community of buyers and suppliers from North America and Europe, and is presently expanding into Eastern European, Latin America and Asia. The Asia-Pacific market has proven itself a critical strategic region in global sourcing, and the promotion of Mr. Jin shows‘s commitment to APAC manufacturing.

“ APAC has made a huge contribution to our global marketplace in 4 short years,” said Mitch Free, founder and CEO of “To build a great business takes a lot of hard work coupled with a lot of good luck. Meeting James is one of those moments that will forever stick in my mind as one of the defining good luck moments for I count him as one of my best friends and I’m extremely proud of him.”

A graduate of Thunderbird, Mr. Jin is accomplished in several areas such as international trade, factory management, marketing development, operations management, international procurement, and other areas. Having joined in 2006, Mr. Jin has been responsible for developing the APAC market for In that time, the performance of the APAC office of has significantly grown in staff and in revenue, and became an important part of the global marketplace.

Mr. Jin has been instrumental in building a world class operation for in APAC, by not only introducing business opportunities from the online marketplace to Asia manufacturers, but also through tailored events throughout the region for manufacturing companies in the area. Events such as Sourcing Fairs, China Sourcing Leadership clubs, and online training have grown in popularity with manufacturers in the industry under Mr. Jin’s direction.

About is the largest global sourcing marketplace for the manufacturing industry.‘s platform enables companies to intelligently connect, source, collaborate and perform due diligence with transparency and intellectual property protection. It supports virtually all manufacturing process and industrial components, is in seven major languages, more than 50 currencies and has more than 200,000 members on five continents. is based in Atlanta and has offices in Shanghai, Paris, and Bangalore. For more information:

Media contact

Tel: +86-21-3203-9588 x6210




Written by asiafreshnews

December 29, 2010 at 2:49 pm

Posted in Business & Finance

Avnet, Inc. Celebrates 50 Years on the NYSE

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One of only 350 companies in NYSE history to achieve the 50-year milestone

HONG KONG, Dec. 28, 2010 /PRNewswire-Asia/ — Avnet, Inc.( ) (NYSE: AVT), a leading global technology distributor, commemorated its 50th anniversary as a public company on the New York Stock Exchange (NYSE) by ringing the Closing Bell( ) on Wednesday, December 15, 2010.﹛An archived video of the Closing Bell is now available for viewing on Avnet’s website( ). 2010 is also a year that Avnet Electronics Marketing, an operating group of Avnet, Inc., celebrates the 15th anniversary of its business entering the Asia market.

(Photo: )﹛
(Logo: )

“We think our founders would be proud of the fact that we are now one of only 350 companies that have been listed on the New York Stock Exchange for 50 years,” said Roy Vallee, Avnet Chairman and CEO.

“This milestone distinguishes Avnet as a premier company — one with demonstrated adaptability, a strong culture and conservative financial discipline. These positive attributes have allowed us to grow steadily and profitably over time and become the global leader in technology distribution.

“We sincerely thank each of our talented employees who make our company so great, our innovative customers and technology suppliers who have placed their trust in us to accelerate their success, our shareholders who invest in us, as well as our business and community partners who join with us to help make the world a better place to live and work.

“We are proud of this milestone and our accomplishments thus far, and look forward with excitement to building on our leadership position to achieve far more in the next 50 years than anyone can possibly imagine today,” he concluded.

Award-winning film and Broadway producer Jon Avnet, grandson of Avnet founder Charles Avnet, added: “Almost 50 years ago, a prominent New York paper scoffed when my father Lester Avnet, said, ‘We, Avnet Inc., are going to the top, to 100 million in sales, maybe even a billion.’ Roy Vallee and his talented executive team have taken Avnet, Inc. to almost 20 billion dollars in sales, fifty years later. Congratulations to all who have made this possible.”

At the time the company was initially listed on the NYSE, Avnet’s market capitalization was US$37 million and today Avnet’s market capitalization is approx. US$5 billion. “Avnet’s ability to sustain its performance and transform itself to meet the changing demands of the market over the past 50 years is remarkable,” said Larry Leibowitz, Chief Operating Officer, NYSE Euronext. “The company’s staying power, adaptability and growth are accomplishments that deserve great admiration, and we are grateful for our long-lasting partnership.”

Additional background information on Avnet’s 50th Anniversary on the NYSE can be found on the company’s website under Highlights(,6948,RID%253D46799%2526CID%253D62291%2526SCR%253DN%2526CCD%253DUSA%2526SID%253D9358%2526DID%253DDF3%2526LID%253D16679%2526BID%253DDF3%2526CTP%253DSTA,00.html ). The micro site includes video interviews with Vallee, photos of the Closing Bell and interview transcripts.﹛A video of Avnet’s history can be found on . For more interesting facts about Avnet and its history, visit Avnet’s 50th Anniversary on the New York Stock Exchange micro site.(,6948,RID%253D46799%2526CID%253D62291%2526SCR%253DN%2526CCD%253DUSA%2526SID%253D9358%2526DID%253DDF3%2526LID%253D16679%2526BID%253DDF3%2526CTP%253DSTA,00.html )

While Avnet is celebrating 50 years since it was first listed on the NYSE, Avnet Electronics Marketing is also celebrating the 15th anniversary of its business in Asia market. The company entered the Asia market in 1995 and is now one of the leading electronics component distributors in the region. It has 2,500 employees in the region and extensive coverage across more than 40 cities, providing customers with a line card that includes more than 150 franchises.

Photos/Multimedia Gallery Available:﹛

About Avnet

Avnet, Inc. (NYSE:AVT), a Fortune 500 company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners’ success by connecting the world’s leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions.﹛For the fiscal year ended July 3, 2010, Avnet generated revenue of US$19.16 billion. For more information, visit . (AVT_IR)

About Avnet Electronics Marketing Asia

Avnet Electronics Marketing, an operating group of Avnet, Inc. (NYSE: AVT), has a significant presence in Asia. With its regional headquarters in Singapore, the company has offices in more than 40 locations in Asia. Avnet Electronics Marketing Asia distributes semiconductors, interconnect, passive and electromechanical components to serve a wide range of customers including original equipment manufacturers (OEMs), electronic manufacturing services (EMS) providers, and small- to medium-sized businesses, and provides associated design-chain and supply-chain services. More information is available at .

All company and product names may be trademarks of the respective companies with which they are associated.

Media contacts:
Sonia Bovio
Brodeur Partners
Tel:﹛ +1-602-224-4048

Michelle Gorel
Vice President, Public Relations
Avnet, Inc.
Tel:﹛ +1-480-643-7653

Jaime Chan
Senior Marketing Communications Manager
Avnet Electronics Marketing
Tel:﹛ +852-2410-2735

SOURCE Avnet, Inc.

Written by asiafreshnews

December 28, 2010 at 5:38 pm

Posted in Uncategorized

PayPal and Chongqing Municipal Government Partner to Develop International Ecommerce and Help Chinese Merchants Conduct Faster, Easier Cross-Border Trade

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2010-12-28 10:04
CHONGQING, China, Dec. 28, 2010 /PRNewswire-Asia/ — PayPal today signed an exclusive agreement with the Chongqing municipal government to jointly develop an international ecommerce hub in Chongqing. According to the agreement, the Chongqing municipal government and PayPal will partner to jointly setup a foreign exchange settlement solution and five international ecommerce centers over the next few months, including a verification center, investment promotion center, national telesales center, merchant training center and regional business development center.

Today, Mr. Huang Qifan, mayor of Chongqing, Ms. Tong Xiaoping, vice mayor of Chongqing, and Mr. Liao Yixuan, deputy director-general of Chongqing municipal government participated in a signing ceremony along with Mr. Chris Yao, PayPal’s vice president of Greater China to commemorate this new partnership. Also at the ceremony, the Chongqing Economic and Information Industry Committee signed an agreement with the government of Yuzhong District on the joint development of the Ecommerce Valley. Mayor Huang Qifan granted the name plate to Chongqing International Ecommerce Verification Center.

Mayor Huang Qifan said, “We recognize this strategic partnership with PayPal supports the goals of Chongqing to develop its ecommerce industry, and will help Chongqing become China’s settlement center for international ecommerce. It will also contribute to the development of Chongqing into the financial services center of west China.”

Mr. Yao, vice president of PayPal Greater China, expressed his sincere thanks for the professional support of the Chongqing municipal government to promote international ecommerce. “We are excited to partner with the Chongqing municipal government to grow ecommerce and support cross-border trade for all Chinese merchants. We know that overseas buyers shop online for great deals and a wide range of products – exactly what millions of Chinese merchants can provide via international ecommerce. Our goal is to unleash the full potential of Chinese small businesses and entrepreneurs to sell to the world.”

Mr. Mu Huaping, director-general of Chongqing Economic and Informative Committee said, “PayPal and Chongqing municipal government share the same view on the importance of developing the ecommerce industry in China, and both sides have common goals to building the right environment to allow international ecommerce to thrive. The implementation of the mutual agreement will increase the efficient supervision of international ecommerce by enabling more foreign exchange payments to return to China and be included in China’s national statistics for international trade.”

In his speech at the signing ceremony, mayor Huang Qifan expressed that Chongqing, following the experience of Singapore, will develop itself into the financial center for west China. Chongqing will:-

Attract all types of financial institutions, to promote the development of the banking, securities and insurance industries
Encourage the development of non-banking financial institutions
Develop the trading platform for various commodities
Develop various types of settlement platforms such as off-shore financial processing, international ecommerce, electronic commercial paper and other kinds of inter-bank and clearing transactions
Develop a suitable legal environment, sufficient manpower resources and professional services support for financial institutions.
About Chongqing municipal government
Chongqing is the only municipality directly under the central government in western China. Located on the upper reaches of the Yangtze River, Chongqing is southwest China’s biggest industrial and commercial center, communication hub and inland port.

About PayPal
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or debit cards (varies by country). PayPal is an eBay company and enables global ecommerce with more than 90 million active accounts in 190 markets and supporting payments in over 24 currencies around the world.

Media contact information:

For PayPal China:
David Ye
Head of Marketing
Tel: +86-21-2308 8209

Chen Chen
BlueBay Consulting
Tel: +86-21-3503 1069

For PayPal Asia Pacific:
Dickson Seow
Director of Corporate Communications
Tel: +65-6510-6463

Jeremy Seow / Jolin Tan
Text 100 Public Relations (for PayPal)
Tel: +65-6603-9000

For Chongqing municipal government:
Mr. Ju Yan
Division Director
Chongqing Economic and Information Industry Committee
Tel: +86-139-0830-5833


Written by asiafreshnews

December 28, 2010 at 4:34 pm

Posted in Uncategorized

Ubitus Demonstrates its Cloud Gaming Technology on DOCOMO’s LTE Network

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TAIPEI, Dec. 24, 2010 /PRNewswire-Asia/ — Ubitus Inc. today demonstrated its GameCloud solution on the LTE network during the launch event of NTT DOCOMO’s LTE network. The GameCloud solution enables any major terminal devices with video streaming capability to play with any games, including PC games, online 3D games and social network games, etc. The bandwidth and network capability of the LTE network enhances the user experience with a dynamically adjustable streaming rate and seamless user interaction that has brought cloud gaming technology to the next level.

“The mobile gaming revenue is estimated to skyrocket to US$11.4 billion worldwide by 2014, according to Gartner.﹛With the demonstration today, we are set for a strong start to becoming a key player in this blooming market by working hand in hand with major service operators in developed countries to introduce the most exciting services and impeccable customer experience to the market,” said Wesley Kuo, CEO of Ubitus.

The GameCloud technology specializes in rendering games that require heavy graphic computing on the server cloud and processes the game media into streaming video.﹛The enhanced streaming protocol allows mobile devices with a thin client to interactively control the application/game remotely through a dynamically-rendered control User Interface.﹛Under the LTE network, the Ubitus GameCloud can work smoothly with minimum latency by reducing server multimedia and device processing time and increasing the concurrency rate on each serve, and therefore, reduce the operational cost significantly to achieve economy of scope. The scalable architecture allows easy deployment on wired and wireless networks and effortless integration with any billing systems.

About Ubitus:

Ubitus, Inc. was founded in 2007 and has 100 employees with offices in Taipei, Beijing, Guangzhou, Tokyo, and Seoul. As an outstanding provider of software platforms for fixed-mobile convergence (FMC) applications, the company offers next-generation services, making use of cloud computing solutions, for device manufacturers, wireless/wireline communication service providers, telecommunication network operators, and digital content providers. These services allow rich media to be enjoyed and shared on all kinds of devices, including PCs, IPTV, and mobile phones.

For more information, please visit or contact:

Sylvia Chou / Taipei
Ubitus Inc.
Tel: +886-2-2717-6123

Shinya Kasuga / Tokyo
Ubitus Inc.
Tel: +81-3-5211-8267

Tony Ahn / Seoul
Ubitus Inc.
Tel: +82-2-563-5170

SOURCE Ubitus, Inc.

Written by asiafreshnews

December 28, 2010 at 11:49 am

Posted in Uncategorized

Crowne Plaza Debuts in Inner-City Bangkok

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Crowne Plaza Bangkok Lumpini Park: Sweeping views from Crowne Plaza Bangkok Lumpini Park's Panorama Deck Bar

The property is a short distance from the prestigious Siam Paragon Mall, Bangkok Convention Centre, Chulalongkorn University and a vast variety of retail, dining and entertainment options in the Silom area. And next door to the property are two key public transport options – the Sala Daeng sky train and the Silom subway – both providing quick, easy access to the rest of the city.

A feature of the Crowne Plaza Bangkok Lumpini Park is the dedicated meetings spaces on the 21st floor of the hotel, offering natural daylight and flexible set-up options together with the Crowne Meetings team offering personalised services.

Guests can also enjoy a range of upscale dining and leisure options within the hotel, including five food-and-beverage outlets, extensive banqueting facilities, a resort-style pool and a spa.

“This hotel provides the perfect launch pad for the Crowne Plaza brand in Thailand,” said General Manager, Mark Winterton.

“The location and business-oriented services and facilities – promising a great night’s sleep and intuitive business solutions – make it an ideal choice for the corporate traveller and meetings market. The hotel also showcases all the hallmarks of the Crowne Plaza brand,” he said.

Part of the InterContinental Hotels Group (IHG), Crowne Plaza is one of the fastest growing brands in Asia and currently has close to 80 hotels and resorts in the development pipeline in the Asia Pacific region alone. Globally, it is the fast growing upscale brand with 376 hotels in 62 countries worldwide.

The Crowne Plaza Bangkok Lumpini Park is the Group’s fourth hotel in Bangkok and the tenth IHG hotel in Thailand — joining hotels in Hua Hin, Pattaya, Phuket, Cha-am, Phi Phi and Chiangmai.

Media Contacts:

Siam PR. Consultant Co., Ltd.
Kwanpat Tungjerdjarad

Teerarat Pipatchatdecha
Tel: +02-693-7835-8 ext 23 or 25

Beth Kennedy
Tel: +65-6421-0320

SOURCE Crowne Plaza Hotels & Resorts

Written by asiafreshnews

December 22, 2010 at 11:14 am

Posted in Uncategorized

Omnicom Agencies Take Top Honors in Campaign’s Asia Pacific Awards

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2010-12-17 23:00 


Creative Juice, DDB, Tribal DDB, Mudra Max, PHD, RAPP, TBWA\Hakuhodo and TEQUILA\ Win Agency of the Year

SINGAPORE, Dec. 17, 2010 /PRNewswire-Asia/ — Omnicom Group (NYSE: OMC) agencies picked up top honors, including three network of the year titles, at Campaign Asia’s Agency of the Year Awards in Singapore.

Omnicom Group Agencies Take Top Honors in Campaign’s Asia Pacific Awards

Omnicom Group agencies swept up six of the eight regional awards. John Zeigler, Chairman and CEO of DDB Group Asia-Pacific, received the coveted Agency Head of the Year award for the region, while Mark Holden, recently promoted to Global Strategy Director of PHD Network, was named Asia-Pacific Media Planner/Buyer of the Year.

DDB Group Asia-Pacific clinched the Creative Network of the Year title. Tribal DDB Asia-Pacific won Digital Agency Network of the Year and PHD Asia-Pacific received the Media Agency Network of the Year award.  RAPP Asia-Pacific was the runner up for Specialist Agency Network of the Year.

Procter & Gamble’s Gillette Brand, a BBDO India client, was named Brand of the Year, for its award-winning marketing program in India, called “Women Against Lazy Stubble.” Pierre Berard of Pernod Ricard China, a TBWA client, won Client Marketer of the Year.

Based on cumulative results, Omnicom Group was named 2010 Parent Company of the Year.

In sub-regional awards, Omnicom agencies in Greater China received accolades with Michael Dee, Chief Creative Officer of DDB China Group, receiving Creative of the Year and Anna Chitty, Managing Partner of PHD Shanghai, winning Media Planner/Buyer of the Year.

PHD Shanghai took the Media Agency of the Year award, Tribal DDB Shanghai won Digital Agency of the Year and DDB China Group Shanghai was named Creative Agency of the Year.

In North Asia, TBWA\Hakuhodo\Japan scooped Creative Agency of the Year with TBWA\Korea as the runner up in the same category.

For Southeast Asia, the Creative of the Year title went to Thirasak Tanapatanakul, Chief Creative Officer of Creative Juice\Bangkok (TBWA) and RAPP Singapore was awarded Specialist Agency of the Year.  DDB Singapore was the runner up for Creative Agency of the Year, and Proximity Singapore was the runner up for Digital Agency of the Year.

In Australia and New Zealand, Chris Howatson of Clemenger BBDO Proximity, Melbourne was named Account Person of the Year.  Media Agency of the Year went to PHD Network Australia and Digital Agency of the Year to TEQUILA\Sydney.  DDB Group New Zealand was the runner up for Creative Agency of the Year, and AIM Proximity Auckland was the runner up for Digital Agency of the Year.

In India and the Sub-Continent, Mudra Max won Specialist Agency of the Year and OMD was runner up for Media Agency and Digital Agency of the Year.

Tim Love, CEO, Omnicom Group, Asia-Pacific, India, Middle East and Africa (APIMA), said, “We are delighted with these awards for creative innovation and leadership across disciplines in each of our networks and we are especially proud of the talent behind this well-deserved recognition.”

The Campaign Agency of the Year Awards follow a number of other regional awards shows where Omnicom agencies predominated. At this month’s Eurobest Awards, DDB captured both Network of the Year and Interactive Agency of the Year while BBDO and TBWA each captured a Grand Prix and TBWA was runner up for Agency of the Year. Prior to Eurobest, DDB took Network of the Year and Agency of the Year at the Golden Drum Awards and the Spikes Asia Festival where BBDO also captured Media Agency of the Year.

The complete list of awards won by Omnicom agencies at the 2010 Agency of the Year Awards in Singapore can be found at

Campaign Asia’s Agency of the Year Awards recognize the advertising industry’s top achievers and rewards companies and individuals that have not only contributed to raising industry standards but also excelled in business performance and management.

Now in its 17th year, 2010 marks a watershed in the awards’ history with the most significant changes made since its inception. The changes reflect the importance of local market performance throughout the Asia-Pacific region by recognising achievements in sub-regional markets across five key regions — Southeast Asia, North Asia, Greater China, India and the Subcontinent, and Australia/New Zealand.

Local offices and individuals now compete within their sub-regions and in another major change to the judging process, shortlisted agencies in the Media Agency Network of the Year and Creative Network of the Year categories participated in 20-minute live presentations and five-minute Q&As to judges in Singapore.

About Omnicom Group Inc.

Omnicom Group Inc. (NYSE: OMC) is a leading global marketing and communications company. Omnicom’s branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.

For further information on Omnicom and its brands, please visit


Pat Sloan
Omnicom Group
Tel: +1-212-415-2109

Clara So
Omnicom Group, APIMA
Tel: +65-6671-4416


SOURCE Omnicom Group Inc.


Written by asiafreshnews

December 21, 2010 at 5:13 pm

Posted in Uncategorized

AECOM Shines at the Singapore Institute of Planners Awards

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SINGAPORE, Dec. 17, 2010 /PRNewswire-Asia/ — AECOM Technology Corporation, a leading provider of professional technical and management support services for government and commercial clients around the world, announced today that it recently won three Awards of Merit in the Singapore Institute of Planners Awards competition.

(Photo: )

From Top: Tanjung Rhu Resort, Langkawi, Malaysia; Subic Neocove Resort, Subic Bay, Philippines; and Gadeokdo Modalopolis, Busan, South Korea. All three projects have won Awards of Merit in the Singapore Institute of Planners Awards competition.
Presented every two years, the competition recognizes urban planners and consultancy firms in Singapore for their excellence in both local as well as overseas projects.

AECOM’s work on the Tanjung Rhu Resort received an Award of Merit in the Best Urban Design project category. For this project, the team envisioned a sanctuary of nature and authenticity that not only promotes sustainability, but also positions Tanjung Rhu as the first comprehensive and integrated resort for Langkawi, an archipelago located off the coast of Malaysia.

A second project, Subic Neocove Resort Masterplan, for the resort in Subic Bay, Philippines, won an Award of Merit for Best Overseas Planning project. The vision for this project was to create an environmentally sustainable resort destination that captures the scenic beauty of the site but also incorporates well-balanced programs, activities and developments.

Originally developed for an International Urban Ideas Competition for the Sustainable Development of Gadeokdo, Busan in South Korea, AECOM’s Modalopolis — which came in first for the competition — also won an Award of Merit in the Best Overseas Planning category. The innovative concept frames Gadeokdo as a “major hub of global trading” for Northeast Asia, integrating urban development, business and tourism with nature.

“This is a great acknowledgment from the Singapore Institute of Planners of AECOM’s growing masterplanning capabilities, innovation and thought leadership in Southeast Asia. Underling each award were visionary clients with a strong environmental and social commitment for developing the right mix of use that will create exceptional places for each site,” said Scott Dunn, AECOM’s regional managing director, Planning, Design + Development, for Southeast Asia.

Founded in 1971, the Singapore Institute of Planners (SIP) is a professional body dedicated to the advancement of urban planning and the promotion of the planning practice as a profession. The Institute promotes design excellence through its biannual design awards whereby a sovereign panel of highly-qualified judges evaluates all entries on the basis of originality, innovation, quality of presentation, planning approach and sustainability. This is AECOM’s first participation to this awards competition.


AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government. With approximately 52,000 employees around the world, AECOM is a leader in all of the key markets that it serves.  AECOM provides a blend of global reach, local knowledge, innovation, and technical excellence in delivering solutions that enhance and sustain the world’s built, natural, and social environments.  A Fortune 500 company, AECOM serves clients in more than 100 countries and had revenue of US$6.5 billion during its fiscal year 2010. More information on AECOM and its services can be found at


Ng Hui Hui
Marketing & Communications
Southeast Asia
Tel: +65-6394-0350
SOURCE AECOM Technology Corporation

Written by asiafreshnews

December 21, 2010 at 3:29 pm

Posted in Business & Finance

EQT Greater China II Acquires 65% of Qinyuan Bakery, a Leading Chinese Bakery Chain

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﹛﹛– EQT Greater China acquires 65% of Qinyuan Bakery, one of the
﹛﹛﹛ leading bakery chains in Southwest China
﹛﹛– EQT Greater China and founders teaming up to boost further growth

HONG KONG, Dec. 20, 2010 /PRNewswire-Asia/ — EQT Greater China II (“EQT Greater China”) acquires a majority stake in Qinyuan Bakery (“Qinyuan” or the “Company”). Qinyuan is the leading retail bakery chain in Southwest China with a market share of approximately 40% in its two main markets, namely Chongqing and Guiyang. The Company’s product offering, including pastries, cakes, cookies, beverages, mooncakes and rice dumplings, is supported by its long-established brand, customer loyalty and strong value proposition. As of November 2010, Qinyuan had a network of 223 stores, four bakery plants and approximately 2,100 employees across four markets with over 35 million directly accessible consumer population.

(Logo: )

EQT Greater China will, over a two-year period and subject to certain conditions, acquire a total of 65% of the Company while the founding entrepreneurs will retain the remaining 35%. The founders, Ms. Congmei Liu and Mr. Zexiang Chen, established Qinyuan in 1989 and have since developed the bakery chain into a successful retail business and a high growth festive products business. Qinyuan’s store network covers Chongqing (headquarter), Guizhou, Chengdu and Shanghai. Qinyuan’s offering has a modern, healthy and family oriented concept targeting the mainstream mid-end consumers. The stores are strategically located and profiled to cater to the needs of a broad customer base — from home breakfast consumers in residential areas, to city dwellers such as students and businessmen, to lifestyle seekers enjoying a cup of coffee with pastries.

“Qinyuan is a leading and trusted Chinese bakery brand in a fast-growing industry and this fits well into EQT Greater China’s investment strategy. The founders have, over the 21 years in operation, built a very good business both in terms of growth and profitability. When entering the next development phase, EQT Greater China will contribute its industry knowledge from the retail sector but also from the European bakery sector in which EQT has significant experience,” says Martin Mok, Partner at EQT Partners in Hong Kong.

“We look forward to working together with EQT Greater China. Their strong global industrial experience plus their understanding of the local markets will be extremely valuable to Qinyuan when taking the business to the next level,” says Ms. Congmei Liu, Qinyuan’s co-founder and General Manager.

The bakery market in China is forecasted to exhibit significant growth prospects for the coming years and the Chinese consumption behavior for bakery products is tracking well the historical patterns observed in other more mature markets in Asia. The growth of Southwest China has also received ample attention recently. EQT Greater China will initially focus on expanding Qinyuan’s store footprint in current geographies, leveraging on the current strong market positions. Other strategic initiatives include enhancing store productivity, expanding the festive products business and entering new markets.

About EQT

EQT is the leading private equity group in Northern Europe with around Euro 13bn in raised capital and multiple investment strategies. Together with a superior network of Industrial Advisors, EQT implements its business concept by acquiring or financing good medium-sized to large companies in Northern and Eastern Europe, Asia and the United States, developing them into great companies. Development is achieved by applying an industrial strategy with focus on growth. Since inception, EQT has invested in more than 80 companies (equivalent to Euro 8.9bn) and exited around 40. EQT-owned companies have more than 500,000 employees.

EQT Greater China makes control or co-control investments in high-quality market leading, medium-sized companies in attractive industries in Asia with a potential for top-line growth.

EQT Partners, acting as investment advisor to all EQT funds, has more than 100 investment professionals with an extensive industrial and financial competence. EQT Partners has offices in Copenhagen, Frankfurt, Helsinki, Hong Kong, Oslo, London, Munich, New York, Shanghai, Singapore, Stockholm, Warsaw and Zurich.

More information can be found on


EQT Partners

Martin Mok
EQT Partners Asia

Johan Hahnel
EQT Partners Communications & PR

SOURCE EQT Greater China II Limited

Written by asiafreshnews

December 21, 2010 at 2:53 pm

Posted in Uncategorized

Symantec Announces MessageLabs Intelligence 2010 Annual Security Report

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2010-12-17 15:45
Botnets prove resilient another year on; Email-borne malware increases one hundred fold

MOUNTAIN VIEW, Calif., Dec. 17, 2010 /PRNewswire-Asia/ — Symantec Corp. (Nasdaq: SYMC) today announced the launch of its MessageLabs Intelligence 2010 Security Report. The annual report details how cyber criminals have diversified their attack tactics to sustain spam and malware at high levels throughout 2010.

The report highlights fluctuating spam levels throughout the year driven by changes in botnet activity. Spam rates peaked in August 2010 at 92.2 percent when the Rustock botnet was being aggressively seeded by new malware variants and quickly put to use, lending to an overall increase in spam activity for the year, with average spam levels reaching 89.1 percent, an increase of 1.4 percent compared with 2009. For most of 2010 spam from botnets accounted for 88.2 percent of all spam. The end of 2010 saw a reduction in the contribution of botnets to spam, to 77% of spam, resulting from the closure of spam affiliate, Spamit, in early October 2010. By the end of 2010, the total number of active bots had returned to roughly the same number as at the end of 2009, increasing by approximately 6 percent in the latter half of 2010. The total number of botnets worldwide is between 3.5 and 5.4 million.

It is predicted that in 2011 botnet controllers will resort to employing steganography techniques to control their computers. This means hiding their commands in plain view – perhaps within images or music files distributed through file sharing or social networking web sites. This approach will allow criminals to surreptitiously issue instructions to their botnets without relying on an ISP to host their infrastructure thus minimizing the chances of discovery.

Although 2010 has experienced fluctuation in the number of botnets and their associated output, the top three botnets have not changed in the latter half of 2010. Rustock remains the most dominant botnet, with its spam output more than doubled since last year to more than 44 billion spam emails per day and more than one million bots under its control while Grum and Cutwail are the second and third largest respectively. Cutwail and Grum have also been responsible for an increase in the volume of malware being sent in spam from botnets.

“With successful and resilient botnet operations established in prior years, the cyber criminals experimented with many tactics to keep spam campaigns active and fresh this year,” said Paul Wood, MessageLabs Intelligence Senior Analyst, Symantec Hosted Services. “From leveraging newsworthy events like the FIFA World Cup to taking advantage of the widespread popularity of URL shortening services and social networks, the spammers deployed a variety of tricks to bypass spam filters and lure potential victims.”

One noteworthy security threat this year was the ‘Here You Have’ virus which on September 9, 2010 used old mass-mailer techniques to send malicious emails, peaking at 2,000 emails blocked per minute. In total, MessageLabs AntiVirus service blocked more than 100,000 copies of the virus before it reached any client networks. The heuristic rule that triggered the detection of the virus was added in May 2008, more than two years earlier. The same rule was again instrumental in stopping a run of attacks spoofing the US Internal Revenue Service in early November.

In 2010, there were more than 339,600 different malware strains identified in malicious emails blocked, representing over a hundred-fold increase since 2009. This massive increase is largely due to the growth in polymorphic malware variants, typically generated from toolkits that allow a new version of the code to be generated quickly and easily. An example of this includes the Bredolab family of Trojans, a general-purpose botnet commonly distributed via the Cutwail botnet, which accounted for approximately 7.4 percent of all email-borne malware in 2010. Bredolab represents an approach from attackers referred to as “pay per install” (PPI). Although flexible in nature, the malware is designed to seize control of the victim’s computer so that the computer can be used by the Bredolab operators or rented or sold to another attacker. Bredolab is an example of malware contained in a compressed archive and over time has evolved from a simple piece of encrypted malware packed with polymorphic code to a protected version with an updated polymorphic engine designed to behave the same yet evade detection as Bredolab. The final version is an aggressive polymorphic packer released at the end of 2010 which was mass-mailed with hundreds of variants of it to maximize infection.

While Bredolab was being sent en masse, targeted attacks, characterized by their low-volume distribution, have also been on the rise. When targeted attacks, or advanced persistent attacks, first emerged five years ago, MessageLabs Intelligence tracked one to two per week and over the course of the following year, this number rose to between one and two attacks per day. Subsequently, targeted attacks increased from ten per day to approximately 60 per day in 2010 and by the end of the year, MessageLabs Intelligence blocked 77 targeted attacks each day.

“With the rise of targeted attacks come variations in the execution and attack complexity,” Wood said. “Typically, between 200 and 300 organizations are targeted each month but the industry sector varies and high seniority job roles are most frequently targeted yet often by way of a general or assistant’s mailbox. While five years ago large and well-known organizations were often targeted, today the scope of targeted organizations has expanded and now no organization is safe from attack.”

Finally, MessageLabs Intelligence examined the web browsing habits of an increasingly distributed workforce comprised of workers who are on the road or work from home compared to those of office-based workers. The findings revealed that mobile users behave similarly to office-based users and therefore pose little additional threat to an organization whereas workers who have mixed locations, those that work both in and out of the office, appear to relax their browsing habits considerably when out of the office, posing considerably higher risk to the organization. Based on the findings, organizations must determine to what extent they will manage employee online behavior with web policy controls. Recognizing a need for more flexible web access, businesses in 2010 are opting for a more granular approach to control with an increased use of “allow-lists” replacing the blanket “block list” approach from previous years. The number of allow policies has grown at an average rate of 0.8 percent per month in 2010, compared with 0.6 percent per month in 2009.

Top Trends in 2010

Web Security: For 2010, the average number of new malicious websites blocked each day rose to 3,066 compared to 2,465 for 2009, an increase of 24.3 percent. MessageLabs Intelligence identified malicious web threats on 42,926 distinct domains, the majority of which were compromised legitimate domains.

Spam: In 2010 the annual average global spam rate was 89.1 percent, an increase of 1.4 percent on the 2009. In August, the global spam rate peaked at 92.2 percent when the proportion of spam sent from botnets rose to 95 percent as a new variant of the Rustock botnet was seeded and quickly put to use.

Viruses: In 2010, the average rate for malware contained in email traffic was 1 in 284.2 emails (0.352 percent) almost unchanged when compared with 1 in 286.4 (0.349%) for 2009. In 2010, over 115.6 million emails were blocked by Skeptic™ representing an increase of 58.1 percent compared with 2009. There were 339.673 different malware strains identified in the malicious emails blocked. This represents more than a hundred fold increase over 2009 and is due to growth in polymorphic malware variants.

Phishing: In 2010, the average ratio of email traffic blocked as phishing attacks was 1 in 444.5 (0.23 percent), compared with 1 in 325.2 (0.31 percent) in 2009. Approximately 95.1 billion phishing emails were projected to be in circulation in 2010.

The annual MessageLabs Intelligence Report provides greater detail on all the trends and figures noted above, as well as more detailed trends for 2010. The full report is available at:

About Symantec

Symantec is a global leader in providing security, storage and systems management solutions to help consumers and organizations secure and manage their information-driven world. Our software and services protect against more risks at more points, more completely and efficiently, enabling confidence wherever information is used or stored. More information is available at

NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at All prices noted are in U.S. dollars and are valid only in the United States.

Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

For more information, please contact:

May Cheok
Symantec Hosted Services
Tel: +65 6413 4012

Adrian Lee
XPR for Symantec Hosted Services
Tel: +65 6323 5766/ +65 9423 0109

SOURCE Symantec Corp.

Written by asiafreshnews

December 20, 2010 at 4:50 pm

Posted in Uncategorized


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NEW YORK and BEIJING, Dec. 16, 2010 /PRNewswire-Asia/ — KKR today (15 Dec. – USA / 16 Dec. – Asia) announced its investment, through its funds, in VATS Liquor Store (“VATS” or “the Company”), the largest nationwide liquor store chain operator in China.

“KKR is a world-class institutional investment firm and a pioneer in the global private equity industry, with an outstanding investment track record globally and within China,” said Mr. Xiangdong Wu, Chairman of VATS.  “We are proud to have KKR as our shareholder, which validates VATS’ long-term growth potential and proven business model. We truly appreciate KKR’s investment philosophy of partnering with management to add value for portfolio companies. KKR’s extensive expertise in the global consumer and retail space will bring tremendous value to VATS both in advancing our operational capability and maintaining sustained and rapid growth.”

According to China’s National Bureau of Statistics, annual sales of China’s white liquor market are approximately $27 billion and the consumption of bottled white liquor has grown at 20% CAGR in the past five years. The partnership between VATS and KKR marks a collective effort to seize the growth opportunity in China’s liquor industry, and to promote healthy development of the market.

“We are excited to be partnering with VATS, the leading franchise in China’s liquor distribution industry,” Xiang Li, Managing Director of KKR Greater China, said.  “We look forward to fully utilizing our global resource and expertise, working closely with the outstanding management team at VATS to support the future development of the Company.”

About VATS

Founded in May, 2005, VATS operates more than 270 liquor stores covering all provinces in mainland China. The Company thrives on providing customers with high quality authentic liquor products through its extensive nationwide retail network. The Company holds sole distribution rights to a diversified and valuable portfolio of leading premium Chinese liquor brands, including Wuliangye Vintage Series, Guyuelongshan Vintage Series, Zhenjiu and Xiangjiao. The Company also distributes local premium wine brand Shangri-la wine, top French wines such as “Petrus”, “Lafite”,” Latour” and scotch whiskey “Laphroaig”.

About KKR

Founded in 1976, KKR is a leading global investment firm with $55.5 billion in assets under management as of September 30, 2010. With over 14 offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. Since inception, KKR has completed multiple private equity investments with a total transaction value in excess of $430 billion and the portfolio companies in the firm’s private equity funds have over $200 billion of annual revenues and more than 900,000 employees.  KKR seeks to create value in its private equity investments by working as a partner with management and bringing global resources and operational expertise to its portfolio companies. KKR invests in high-quality franchises across multiple industries and geographies, including Asian investments such as International Far Eastern Leasing, China Modern Dairy, and Oriental Brewery, among many others, and current and previous retail and consumer product investments such as Del Monte, Sealy, Dollar General, Pets at Home, WILD, Duracell, Gillette, RJR Nabisco and Safeway. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For additional information, please visit KKR’s website at

KKR Media Contacts


Peter McKillop or Kristi Huller
Phone: +1-212-750-8300
Hong Kong

Susannah Geary, Kreab Gavin Anderson
Tel:   +852-2218-9919
Mob:   +852-9162-9423

Written by asiafreshnews

December 20, 2010 at 10:04 am

Posted in Business & Finance