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Archive for April 25th, 2012

TutorGroup Raises US$15 million from Qiming Venture Partners to Fund Expansion in China

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SHANGHAI, April 25, 2012 /PRNewswire-Asia/ — Online language live tutoring company TutorGroup (the parent company of VIPABC.com( http://www.vipabc.com ) and TutorABC.com( http://www.tutorabc.com/aspx/mvc )), a premier provider of live synchronous e-Learning services, announced today that it has raised US$15 million in growth financing from Qiming Venture Partners. This investment will fund the rapid expansion and broad delivery of TutorGroup services throughout China.

The fast growth of China’s private education market is being driven by globalization, and the English tutoring segment that TutorGroup primarily targets has an addressable market of over US$17 billion by 2015, which is growing at 25% annually. Mr. JP Gan, Managing Partner of Qiming Venture Partners, said: “We value the tremendous potential of TutorGroup’s scalability, augmented by worldwide teaching resources via internet; TutorGroup’s tutors and customers are all situated all around the world, a true practice of globally operating business model.” He added, “We look forward to building a great company together and becoming the world’s largest online education platform.”

Dr. Eric Yang, TutorGroup’s CEO, said: “Our partnership with QiMing Venture Partners represents another significant milestone for TutorGroup. It demonstrates a strong acknowledgement of our achievement and viability of our business model.”

Since 2004, TutorGroup has been a leader in the development of a scalable e-Learning platform for 24/7/365 non-stop live tutoring. TutorGroup is currently one of the world’s largest online live language training companies to provide its customers self booking and customized learning solution with its proprietary software for dynamic learning experience. Synchronous interaction between teachers and students during online classes has swept the market of professional clienteles and major corporate. To date, with VIPABC.com( http://www.vipabc.com ) and TutorABC.com( http://www.tutorabc.com ) in mainland China and Taiwan respectively, TutorGroup has conducted over 5 million classes for their student and clients accessing in 14 countries.

To address and maintain teacher quality, TutorGroup as a leading brand employs the industry’s most rigorous training program; and TutorGroup was the first to introduce a merit pay program where student review of teacher performance sets teacher pay, creating a self-sustaining ecosystem of top quality instructors.

TutorGroup has established a cloud computing architecture for personalized language training. This proprietary architecture is today complimented by a network of over 1,000 certified tutors in 60 cities worldwide, providing students 24/7 access to quality English language consulting in 14 countries. TutorGroup offers online classes from conversational and business English to preparation for standardized language tests. With its suite of proprietary software modules to monitor and enhance the live learning experience and patented fuzzy-coupling mechanism that smart-selects lesson plans and teachers based on the student’s background, preferences, proficiency level and needs, TutorGroup has redefined the concept of customized learning solutions.

TutorGroup’s launch of its browser-based TutorMobile(R) classroom on the Android platform in 2011 marked the world’s first synchronous application of its kind; and the much anticipated release of TutorMobile(R) on the iOS for both iPads and iPhones in the second quarter of 2012 will again raise the bar in classroom delivery, making learning truly mobile and universally accessible.

Dr. Eric Yang, TutorGroup’s CEO, said: “Teaching is noble and virtually still a service business. TutorGroup embraces e-learning 2.0 and strives for each customer to take control of and maximize the use of their time in learning. The internet has flattened the world, and it has changed the fundamental landscape of education. We will continue to bring disruptive innovation into this evolving frontier. TutorGroup’s quality of education is built upon our ‘Education as a Service’ philosophy.”

TutorGroup’s initial focus on the language learning needs of working professionals and major corporate has quickly expanded into multiple brands and products to service different markets. Of particular importance is the addition of TutorABCJr.com( http://www.tutorabcjr.com ) for students from grades 6 to 12 and Mandarin language training under the TutorMing.com( http://www.tutorming.com ) brand, a premium segment showing promising growth. Notably the number of AP Chinese language exam test takers and those studying Mandarin in US colleges have doubled in recent years, making Mandarin the fastest growing second language in the U.S. On a worldwide scale, learners of Mandarin have reportedly reached 40 million. This trend signals an enormous market opportunity for accelerating TutorGroup’s expansion into diverse geographic and language markets.

About Qiming Venture Partners

Qiming Venture Partners is a leading venture capital firm in China with offices in Shanghai, Beijing, Hong Kong, and Seattle. Founded in February 2006, Qiming currently manages five funds with US$1.1 Billion in assets and focuses on early to growth stage investments in Information Technology, Internet and Consumer, Healthcare, and Cleantech. Qiming’s over 20 partners and investment professionals who all have strong operational experience and successful investment track records add a great deal of value to the portfolio companies. Qiming has invested in over 60 companies and many of them have gone IPO or mergers and acquisitions. Qiming has established a great reputation and strives to be the top investment partner by the Chinese entrepreneurs. Visit http://www.qimingventures.com for more information.

About TutorGroup

Founded in 2004, TutorGroup is a leading, online language institute specializing in English training in Asia and Mandarin Chinese training for global business professionals. TutorGroup created the first commercially available synchronous learning portal in the world and developed four prominent service product businesses including VIPABC.com( http://www.vipabc.com ), TutorABC.com( http://www.tutorabc.com/aspx/mvc ), TutorABCJr.com( http://www.tutorabcjr.com ) for English training and TutorMing.com( http://www.tutorming.com ) for Mandarin Chinese. To date TutorGroup has conducted over 5 million classes in 14 countries. Visit http://www.tutor-group.com for more information.

Contactsㄩ

TutorGroup Inc.
+86-4006303022
Investor Relations: ir@tutor-group.com
Press Inquiry: press@tutor-group.com

SOURCE﹛TutorGroup Inc.

Written by asiafreshnews

April 25, 2012 at 3:25 pm

Posted in Uncategorized

Notore Set to Increase Fertiliser Production Through Joint Development With Mitsubishi Corporation

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LAGOS, Nigeria, April 24, 2012/PRNewswire-Asia/ —

Notore Chemical Industries Limited (Notore), owner of the only urea fertiliser plant in sub-Saharan Africa, has just signed a Joint Venture Agreement with Mitsubishi Corporation at Mitsubishi’s corporate headquarters in Tokyo, Japan to develop an ammonia, urea and other petrochemicals plant at its existing facility at Onne, Rivers State, Nigeria.

Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods and environmental business.

The project will involve the construction of an integrated plant complex with production capacities of 1,700 metric tonnes per day (MT/day) of ammonia, 3,000 MT/day of urea and 1,500 MT/day of other petrochemicals.

An agreement was also signed with Mitsubishi Heavy Industries (MHI) in Japan to carry out the pre-FEED for the project. It is expected that early works, (including FEED) should be concluded in the first quarter of 2013. The early works phase will be followed by 36 months of Engineering, Procurement and Construction (EPC). The new plant, owing to its advantage of being built on a “brown-field” site with existing gas facilities and other infrastructure, is expected to come on-stream by 2016.

Notore commenced production of commercial quantities of ammonia in January 2010 and granular urea in April 2010 at its 300,000 Metric Tonnes (MT)/annum ammonia and 500,000 MT/annum urea capacity plant. Today, the company has achieved its plant’s nameplate capacity through a refurbishment and operational excellence programme that it embarked upon. A debottlenecking exercise is planned for Q4, 2013 which will further increase annual output to 430,000MT of ammonia and 750,000MT of urea.

Proven world class technologies will be deployed for the ammonia, other petrochemicals, urea synthesis and urea granulation processes. The project has tremendous environmental benefits. Natural gas, which is currently being flared in Nigeria, will be utilized as the raw material for the production of these chemicals. The combined urea and petrochemicals plant project will have the additional advantage of being more environmentally friendly as excess carbon dioxide from the process would be further utilized for the petrochemicals production. The plant will create about 1,000 direct jobs and provide 10,500 indirect jobs nationwide. Over 2 million farmers would have access to the fertilisers which could mean a ten-fold increase of their harvest with a rippling contribution to Nigeria’s GDP to over N300billion.

SOURCE﹛Notore Chemical Industries Limited

Written by asiafreshnews

April 25, 2012 at 1:57 pm

Posted in Uncategorized

Notore Set to Increase Fertiliser Production Through Joint Development With Mitsubishi Corporation

leave a comment »

LAGOS, Nigeria, April 24, 2012/PRNewswire-Asia/ —

Notore Chemical Industries Limited (Notore), owner of the only urea fertiliser plant in sub-Saharan Africa, has just signed a Joint Venture Agreement with Mitsubishi Corporation at Mitsubishi’s corporate headquarters in Tokyo, Japan to develop an ammonia, urea and other petrochemicals plant at its existing facility at Onne, Rivers State, Nigeria.

Mitsubishi Corporation is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods and environmental business.

The project will involve the construction of an integrated plant complex with production capacities of 1,700 metric tonnes per day (MT/day) of ammonia, 3,000 MT/day of urea and 1,500 MT/day of other petrochemicals.

An agreement was also signed with Mitsubishi Heavy Industries (MHI) in Japan to carry out the pre-FEED for the project. It is expected that early works, (including FEED) should be concluded in the first quarter of 2013. The early works phase will be followed by 36 months of Engineering, Procurement and Construction (EPC). The new plant, owing to its advantage of being built on a “brown-field” site with existing gas facilities and other infrastructure, is expected to come on-stream by 2016.

Notore commenced production of commercial quantities of ammonia in January 2010 and granular urea in April 2010 at its 300,000 Metric Tonnes (MT)/annum ammonia and 500,000 MT/annum urea capacity plant. Today, the company has achieved its plant’s nameplate capacity through a refurbishment and operational excellence programme that it embarked upon. A debottlenecking exercise is planned for Q4, 2013 which will further increase annual output to 430,000MT of ammonia and 750,000MT of urea.

Proven world class technologies will be deployed for the ammonia, other petrochemicals, urea synthesis and urea granulation processes. The project has tremendous environmental benefits. Natural gas, which is currently being flared in Nigeria, will be utilized as the raw material for the production of these chemicals. The combined urea and petrochemicals plant project will have the additional advantage of being more environmentally friendly as excess carbon dioxide from the process would be further utilized for the petrochemicals production. The plant will create about 1,000 direct jobs and provide 10,500 indirect jobs nationwide. Over 2 million farmers would have access to the fertilisers which could mean a ten-fold increase of their harvest with a rippling contribution to Nigeria’s GDP to over N300billion.

SOURCE﹛Notore Chemical Industries Limited

Written by asiafreshnews

April 25, 2012 at 1:56 pm

Posted in Uncategorized

Tellabs and NEC Networks & System Integration Sign Agreement for the Resale of Tellabs(R) 7100 Packet Optical Transport System in Japanese market

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TOKYO, April 24, 2012 /PRNewswire-Asia/ — Tellabs, a leading vendor of optical networking solutions, and NEC Networks & System Integration Corporation (NEC Networks & SI), a leading Japanese network systems integrator have signed an agreement for the resale of Tellabs(R) 7100 Packet Optical Transport System into the Japanese marketplace.

Under the agreement, NEC Networks & SI will be the appointed channel partner for the Tellabs 7100 next-generation packet optical transport system, and will provide sales, system integration, and maintenance support throughout Japan. Under the terms of the agreement, Tellabs-trained NEC Networks & SI engineers will install the Tellabs 7100 system. The Tellabs 7100 is currently undergoing trials in the network of a key Japanese data center operator, and NEC Networks & SI has also performed their own evaluation tests.

The Tellabs 7100 P-OTS (Packet Optical Transport System), by combining ROADM-based DWDM, SDH, OTN and Ethernet switching functionality on a single platform, optimizes packet transport by reducing the number of nodes per layer, lowers bit cost, and simplifies operational monitoring, with low latency and high reliability. Based on data from companies that are operating the Tellabs 7100 system, customers can expect to save as much as 50% in ongoing operational costs.

“The Japanese market is an important market for cloud services and other data center applications,” said Tomohiro Furuya, managing director of Tellabs Japan. “For companies and operators providing these applications, there are significant benefits to having technology support from a partner like NEC Networks & SI, who has many years of experience in the ICT field and has become a trusted leader. It is an honor that NEC Networks & SI has chosen the Tellabs 7100 system as part of its advanced technology portfolio.”

Under the terms of the sales agreement, Tellabs and NEC Networks & SI will provide comprehensive support for the Tellabs 7100 system, the Tellabs(R) 8000 Intelligent Network Manager and Tellabs(R) 7300 Metro Ethernet Switching Series for the Japanese market for optimized mobile backhaul, cloud, and data center applications.

About NEC Networks & System Integration Corporation (NEC Networks & SI, Tokyo Stock Exchange: 1973) — NEC Networks & SI was established in 1953 and is, today, a leading Japanese network systems integrator. The Company provides integrated services from ICT consultation to design, systems integration, operation and maintenance. The organization has more than 50 sales locations and more than 300 service locations throughout Japan, providing 24-hour service 365 days a year.

About Tellabs — Tellabs innovations advance the smart mobile Internet and help our customers succeed. That’s why 80% of the world’s top communications service providers choose our mobile backhaul, packet optical, business and services solutions and applications. We help them get ahead by adding revenue, reducing expenses and optimizing networks.

Tellabs (Nasdaq: TLAB) is part of the NASDAQ Global Select Market, Ocean Tomo 300(R)Patent Index, the S&P 500 and several corporate responsibility indexes including the Maplecroft Climate Innovation Index, FTSE4Good and eight FTSE KLD indexes. http://www.tellabs.com

Tellabs(R) and Tellabs logo(R) are trademarks of Tellabs or its affiliates in the United States and/or other countries. Any other company or product names mentioned herein may be trademarks of their respective companies.

SOURCE﹛Tellabs Asia Pacific

Written by asiafreshnews

April 25, 2012 at 12:01 pm

Posted in Uncategorized

Life Technologies to Build Additional $20 Million State of the Art Cell Culture Facility in Scotland

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GLASGOW, Scotland, April 24, 2012 /PRNewswire-Asia / —

Scottish Government support attracts investment over US and Asia competition

Life Technologies( http://www.lifetechnologies.com/us/en/home.html ) (NASDAQ: LIFE) announced a major expansion of the existing manufacturing facilities at its European, Middle East and Africa headquarters at Inchinnan near Glasgow.

The $20 million investment will increase the company’s capabilities to support the rising demand of its GIBCO(R) cell culture products used for biological drug research, development and production, and secures the supply chain for Europe, Americas and Asia – further establishing Life Technologies’ Bioproduction leadership position as a partner to pharmaceutical companies developing biological therapies.

This investment is linked to ongoing support from Scottish Enterprise to assist the venture to enlarge Life Technologies’ global manufacturing network for proprietary Advanced Granulated Technology (AGT[TM]) and dry powder media under the GIBCO(R) brand, which is celebrating its 50th anniversary.

The company currently employs 500 people at the Inchinnan site, many in the manufacture of cell culture products used in biological drug production. AGT[TM] media is the fastest growing segment in the GIBCO(R) cell culture portfolio and is used in a large number of commercial and late-phase drugs. This offering provides biopharmaceutical customers and contract manufacturing organization (CMO) partners with a ready-to-use media format that eliminates time consuming steps in media preparation and uses only animal origin free (AOF) components.

“We are pleased to be partnering with the Scottish Government on this important project and are grateful for its support,” said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies.

“Our investment in this facility now provides a secure, complementary supply chain source for media used in life saving therapeutics while also addressing the growing global demand for our cell culture media products, specifically AGT[TM].”

“We have a skilled workforce in Scotland whose commitment gives us a competitive advantage and allows us to serve our customers with high quality products.”

Scotland’s Deputy First Minister, Nicola Sturgeon, said: “This investment is a welcome boost for Scotland’s economy and I’m delighted that Life Technologies have decided to expand their facility at Inchinnan.”

“Scotland’s life sciences research is rightly regarded as among the very best in the world and developments like this help to continue to build on that enviable reputation for the future.”

Anne MacColl, chief executive of Scottish Development International, said: “Scottish Enterprise and Scottish Development International have worked closely with Life Technologies to provide an integrated package of support towards this expansion of its manufacturing facilities at Inchinnan.”

“The fact that Life Technologies views Scotland as the ideal place to grow its business is testament to Scotland’s growing reputation as a key player on an international level.” “We very much welcome this announcement and look forward to continuing to work with the company and in doing so, we can help generate long-term sustainable growth for the Scottish economy.”

Life Technologies expects to break ground at the Inchinnan site in 2013 and start to ship product from the facility in 2014.

About Life Technologies

Life Technologies Corporation (NASDAQ: LIFE) is a global biotechnology company with customers in more than 160 countries using its innovative solutions to solve some of today’s most difficult scientific challenges. Quality and innovation are accessible to every lab with its reliable and easy-to-use solutions spanning the biological spectrum with more than 50,000 products for translational research, molecular medicine and diagnostics, stem cell-based therapies, forensics, food safety and animal health. Its systems, reagents and consumables represent some of the most cited brands in scientific research including: Ion Torrent(TM), Applied Biosystems(R), Invitrogen(TM), GIBCO(R), Ambion, Molecular Probes(R), Novex(R), and TaqMan(R). Life Technologies employs approximately 10,400 people and upholds its ongoing commitment to innovation with more than 4,000 patents and exclusive licenses. LIFE had sales of $3.7 billion in 2011. Visit us at our website: http://www.lifetechnologies.com.

Life Technologies’ Safe Harbor Statement

This press release includes forward-looking statements about our anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and Life Technologies’ plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect” and the like, and/or future tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.

Media Contact:

David Robertson
Life Technologies Leader, External Communications, Europe Middle East & Africa
Email: david.robertson@lifetech.com
Tel: +44-141-814-5889

SOURCE﹛Life Technologies

Written by asiafreshnews

April 25, 2012 at 11:28 am

Posted in Uncategorized

AirAsia X CEO Tells Hult Students “Innovate and Embrace Your Mistakes”

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SHANGHAI, April 24, 2012 /PRNewswire-Asia/ — Speaking at Hult International Business School( http://www.hult.edu ), Azran Osman-Rani, CEO of AirAsia X, told students to learn “the art of making mistakes”. An art which helped AirAsia X to annual revenues of US$600 million just four years after the company began. The 40-year-old CEO spoke at Hult’s Executive Speaker Series in Shanghai, where he revealed his plan to make AirAsia X a US$1 billion business within the next five years.

Experts had dismissed AirAsia X’s dream of a low-cost long-haul airline as impossible, but this did not put off Osman-Rani – “Just because everyone else says it cannot be done doesn’t mean that they’re all right”. Emphasizing the need for innovation to an audience of MBA students, he explained how being an industry outsider helped him spot what the experts had missed – that most modern air travelers are more concerned with flight prices than flight times.

AirAsia X successfully competed against the world’s major airlines by flying aircrafts 40% more often and removing the Executive Class to make room for 30% more standard class seats. It was now “simple maths”, said Osman-Rani modestly. Beginning with a single aircraft and a unique insight, AirAsia X demonstrated to multinational companies that flying low-cost long-haul at a profit was not “impossible”.

The CEO explained how innovation was key to AirAsia X’s success and that there was an art to making mistakes which was vital in facilitating that. “People and organizations tend to be risk-averse,” he explained. “The key difference […] is how you deal with […] things that you do wrong. [We] accept it, embrace it, and move on.”

About Hult International Business School

Hult is the world’s most international business school with campuses in Boston, San Francisco, London, Dubai, and Shanghai. The School offers a range of business-focused programs including MBA, Executive MBA, Master and Undergraduate degrees. Hult’s one-year MBA program is ranked in the top 30 in the world by The Economist and among the top 100 by the Financial Times. www.hult.edu.

SOURCE Hult International Business School

Written by asiafreshnews

April 25, 2012 at 11:00 am

Posted in Business & Finance