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Archive for May 22nd, 2012

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry

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SHANGHAI, May 21, 2012 /PRNewswire-Asia/ — Sunrain Solar Energy Co., Ltd (stock code: 603366SH) issues A-share official listing shares on the Shanghai Stock Exchange main board May 21, 2012. As the worldwide leader in the solar thermal industry, Sunrain aims to build a world famous brand.

(Photo: http://www.prnasia.com/sa/2012/05/21/20120521145200446154.html )

Being the first listed company in China’s solar thermal industry, Sunrain will gain attention when it comes to energy conservation and the capital market. Through this, Sunrain will lead the revolution and push forward the development of China’s solar thermal industry.

Specializing in technical research manufacturing and market promotion of solar thermal energy, and application products of other new energies, Sunrain Solar Energy has provided solar hot water system solutions for thousands of families worldwide.

Talents advantage: Setting up products, talent and value systems, and establishment of a solar technique research center that benefits top universities and colleges. Sunrain focuses on employee improvement which contributes to Sunrain and eventually the whole industry.

Scale advantage: With the growth of the economy and the development of the solar thermal industry, Sunrain has achieved fast avenue growth and increased market share. From 2008 to 2011, Sunrain’s market share was 3.6%, 5.7%, 7.3%, and 8.2% respectively, ranking first in the industry. In 2011, Sunrain’s turnover exceeded 3 billion.

Industry integration witnessed a remarkable leap. During this process, the Lianyungang, Yanzhou and Luoyang bases were built successively. Sunrain is the first company in the industry to manufacture rough tubes, vacuum tubes, and solar water heater systems in one factory. Sunrain has the advantages of high quality, low cost, and great efficiency and is the only enterprise that can develop and manufacture all-glass vacuum tubes, all-glass heat pipes, glass-metal sealing heat pipes, and flat plate solar collectors at the same time.

Sunrain has intensified productivity, marketing, research and other working capital programs. When put into motion, sales are estimated to have increased to 3.36 billion Yuan with a net profit of 0.355 billion Yuan.

Upholding the Management Philosophy “Creating a world famous brand, building a century-long enterprise”,” and Development Idea “Forging value and interest in the community and between the company and dealers”,” Sunrain builds products, talents, and values which in turn form competitive advantages in technology and high-efficient management for sustainable development.

http://www.sunrain.com/Global/Global.html

SOURCE﹛Sunrain Solar Energy Co., Ltd

Shanghai-Listed Sunrain Leads the New Development of the Solar Thermal Industry
2012/05/21 15:50
SHANGHAI, May 21, 2012 /PRNewswire-Asia/ — Sunrain Solar Energy Co., Ltd (stock code: 603366SH) issues A-share official listing shares on the Shanghai Stock Exchange main board May 21, 2012. As the worldwide leader in the solar thermal industry, Sunrain aims to build a world famous brand.

(Photo: http://www.prnasia.com/sa/2012/05/21/20120521145200446154.html )

Being the first listed company in China’s solar thermal industry, Sunrain will gain attention when it comes to energy conservation and the capital market. Through this, Sunrain will lead the revolution and push forward the development of China’s solar thermal industry.

Specializing in technical research manufacturing and market promotion of solar thermal energy, and application products of other new energies, Sunrain Solar Energy has provided solar hot water system solutions for thousands of families worldwide.

Talents advantage: Setting up products, talent and value systems, and establishment of a solar technique research center that benefits top universities and colleges. Sunrain focuses on employee improvement which contributes to Sunrain and eventually the whole industry.

Scale advantage: With the growth of the economy and the development of the solar thermal industry, Sunrain has achieved fast avenue growth and increased market share. From 2008 to 2011, Sunrain’s market share was 3.6%, 5.7%, 7.3%, and 8.2% respectively, ranking first in the industry. In 2011, Sunrain’s turnover exceeded 3 billion.

Industry integration witnessed a remarkable leap. During this process, the Lianyungang, Yanzhou and Luoyang bases were built successively. Sunrain is the first company in the industry to manufacture rough tubes, vacuum tubes, and solar water heater systems in one factory. Sunrain has the advantages of high quality, low cost, and great efficiency and is the only enterprise that can develop and manufacture all-glass vacuum tubes, all-glass heat pipes, glass-metal sealing heat pipes, and flat plate solar collectors at the same time.

Sunrain has intensified productivity, marketing, research and other working capital programs. When put into motion, sales are estimated to have increased to 3.36 billion Yuan with a net profit of 0.355 billion Yuan.

Upholding the Management Philosophy “Creating a world famous brand, building a century-long enterprise”,” and Development Idea “Forging value and interest in the community and between the company and dealers”,” Sunrain builds products, talents, and values which in turn form competitive advantages in technology and high-efficient management for sustainable development.

http://www.sunrain.com/Global/Global.html

SOURCE﹛Sunrain Solar Energy Co., Ltd

Written by asiafreshnews

May 22, 2012 at 4:39 pm

Posted in Uncategorized

Dah Sing Life Assurance Launches eBaoTech(R) LifeSystem

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Hong Kong insurance company improves operational efficiency with eBaoTech’s modern policy administration system

SHANGHAI, May 22, 2012 /PRNewswire-Asia/ — eBaoTech,a leading provider of new generation software and services for the insurance industry, is pleased to announce that Dah Sing Life Assurance, a Hong Kong insurer, has completed the Phase 1 launch of eBaoTech LifeSystemto support its traditional life and unit-linked businesses.

Dah Sing Life Assurance (DSLA) operates its life insurance business in Hong Kong under the Dah Sing Financial Group. In January 2011, DSLA selected eBaoTech LifeSystem to replace its legacy systems running its traditional life and unit-linked businesses. Dah Sing chose eBaoTech’s modern, standards-based solution to enhance operational efficiency, launch new products faster, and provide both back-end operators and front-end users with a better user experience.

The project will be done in two phases. Phase 1 was completed to high quality standards and within budget, and consisted of the replacement of several legacy systems, as well as the implementation of standardized and automated processes to replace formerly manual procedures.  During the Phase 1 project, the teams from DSLA and eBaoTech migrated over 200 active products from DSLA’s legacy system to LifeSystem, which now supports all new business.

Phase 2 is now underway, and is focused on existing customer data migration, integration with Dah Sing Life’s CRM solution, and the addition of direct marketing and telemarketing channels. It is expected to be completed in 12 months.

Woody Mo, CEO of eBaoTech, commented, “We are very pleased that Dah Sing Life Assurance selected eBaoTech’s modern platform solution to support its growth strategy. This is a strategic step for both Dah Sing Life Assurance and eBaoTech, and we look forward to continued success in the Hong Kong market.”

About eBaoTech

eBaoTech delivers standards-based, highly configurable insurance software suites to both property and casualty (P&C) and life insurers. Its product offerings enable insurers to realize cost-effective, scalable, flexible and highly automated insurance operations in an ever-changing environment. With offices in ten countries across Europe, Asia and the Americas, and installations in more than 20 countries, eBaoTech has extensive global presence to serve leading insurance companies. For more information, visit www.ebaotech.com.

Media contact:

eBaoTech
Ms. Fiona Zhang
Fiona.zhang@ebaotech.com

Source: eBaoTech

Written by asiafreshnews

May 22, 2012 at 4:13 pm

Posted in Uncategorized

Recording Artist/Songwriter Sir Ivan Releases New Single And Video “La La Land”

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NEW YORK, May 21, 2012 /PRNewswire-Asia/ — Electro-pop recording artist Sir Ivan hasofficially released his new single and video La La Land on May 21st on his Peaceman Music label. The song was produced by the LA based team of Russell Ali and Jason Evigan, who also created the melody, while Josh Skinner and Sir Ivan are credited with writing the lyrics. The new single features mixes by Grammy nominated Midi Mafia (50 Cent, Justin Bieber, John Legend, Nelly, etc.), Grammy nominated Rosabel (Jennifer Lopez, Gloria Estefan, etc.) and the hot new re-mixer duo Papercha$er (Rihanna, Kelly Clarkson, etc.).

To view the multimedia assets associated with this release, please click: http://www.multivu.com/mnr/56309-sir-ivan-la-la-land-new-release-peaceman-music

(Photo: http://photos.prnewswire.com/prnh/20120521/MM09613 )

La La Land is Sir Ivan’s first single release following his highly acclaimed 2009 debut album I Am Peaceman, which primarily consisted of remakes of iconic anti-war songs from the 1960’s. True to his “Peaceman” persona, the words to La La Land depict a perfect world where there is actually peace on earth.

The release of La La Land comes on the heels of Sir Ivan’s last two single releases, which were back-to-back Top Ten global hits. His Hare Krishna single went to # 10 on Billboard Magazine’s Dance Club Songs Chart in the U.S. in April 2011. His Live For Today single went to # 7 on Music Week Magazine’s Upfront Club Chart in October 2011 and made it to #10 on Music Week Magazine’s Commercial Pop Club Chart in February 2012. This latter chart marked a milestone in Sir Ivan’s career, being the first time he went Top Ten on radio.

The La La Land video, directed by Dylan Trussel and David Dinetz, was filmed in Los Angeles. The video creates a colorful, artistic world where all problems are solved, all types are tolerated and all differences celebrated……a world where everyone sings, dances and loves together in paradise. The La La Land video will be viewable on YouTube and other prominent music video sites.

La La Land, Sir Ivan’s I Am Peaceman album and his entire music portfolio are distributed digitally through TuneCore, which includes iTunes, physically/digitally through Amazon.com, with exclusive mixes available through Beatport and Traxsource. For more information visit http://www.SirIvan.com

CONTACT : James Sliman, jamessliman@optonline.net

SOURCE﹛Sir Ivan

Name of Printer:Finet Holdings Ltd.
Address of Printer:Room C, 11/F., Bank of East Asia Harbour View Centre, 56 Gloucester Road, Wanchai, Hong Kong

Written by asiafreshnews

May 22, 2012 at 4:06 pm

Posted in Uncategorized

It’s More Than Shopping…It’s Shopping With A Story — The New Barneys.com

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NEW YORK, May 18, 2012 /PRNewswire-Asia/ — Barneys New York, the luxury specialty retailer, announced today that its website, Barneys.com (www.Barneys.com) has been redesigned to establish the most personalized and socially-engaging e-commerce site in the luxury market. Fusing Barneys’ unparalleled product offering with a best-in-class digital experience, the redesign allows customers to engage with the visually sophisticated site in a unique and effective way.

Barneys has revamped its site with new architecture and product categorization, making navigation and shopping faster and more streamlined. Registered users are now able to purchase products with as few as two clicks, and the site will highlight, in a dynamic way, products that are exclusive to Barneys throughout the shopping experience. Customers are also able to use unique filters such as New Arrivals and Most Loved.

Working with digital agency Huge, this set of new and unique features has been created to make the new Barneys.com a more personal and social shopping experience and sets it apart from other e-commerce websites.

Favorites and My List:
The new Favorites tool is a way for customers to keep track of fashion they like on Barneys.com. Customers can “Favorite” individual items, entire product categories, designers, or size and color choices and add these selections to their “List.” Barneys.com is then able to update these “Lists” by suggesting new products that may be of interest to the customer — providing users with a personalized shopping experience every time they return. Additionally, customers have the ability to share their “List” across multiple social media platforms such as Facebook, Twitter, The Fancy, and Pinterest.

The Favorites tool allows users to browse, follow, and be inspired by “Lists” that have been created by Fashion Influencers and featured on the Barneys.com homepage. As part of the site’s launch, several fashion influencers have created and shared their own “Lists”. Among them:

— Fashion Designers Mary-Kate Olsen & Ashley Olsen
— Actor and Author Julianne Moore and her stylist Leslie Fremar
— Blogger Jane Aldridge from Sea of Shoes
— Stylist Keegan Singh
— Photographer Rachael Chandler Guinness & her husband, Creative Director Tom Guinness
— Fashion Designers Katie Holmes & Jeanne Yang
— Chefs Melia Marden from The Smile & Michael Chernow from Meatball Shop

Most Loved:
When multiple users select an item as one of their Favorites, it becomes designated as a Most Loved or “trending” item on Barneys.com.

Exclusively Ours:
The new Barneys.com offers a unique perspective on style, culture, and lifestyle throughout the online shopping experience by providing its customers with specially-curated products and designer goods that are Exclusively Ours. All exclusive merchandise is tagged with the Exclusively Ours icon, making it easy to filter and locate exclusive designs when sorting by collection or by the curated look books featured within Barneys.com.

The Window:
Barneys’ luxury content site, The Window, provides users with relevant and exclusive information about art, lifestyle, culture, and of course fashion. The new Barneys.com now features designer pages as a home for each brand available to its customers. By highlighting editorial content from The Window and linking to each designer’s newest products, users receive insider fashion access to all designers/brands available on Barneys.com.

Barneys.com features enhanced product photography and detailed editorial stories highlighting the unique characteristics of each item available. The majority of products on Barneys.com are now featured as part of a styled outfit in a curated look book, allowing users to “Complete the Look.” Content from The Window is also integrated into the new product pages to tell each product’s story.

To learn more about the new Barneys.com and experience this one of a kind online shopping destination, please visit http://www.Barneys.com

About Barneys New York
BARNEYS NEW YORK (Barneys) is a luxury specialty retailer with flagship stores in New York City, Beverly Hills, Chicago, Seattle, Boston, Dallas, San Francisco, Las Vegas, and Scottsdale. The Company also operates a highly successful online business at Barneys.com. Founded as a men’s retailer in 1923 in downtown Manhattan it turned into an international arbiter of high style for both women and men in the 1970s and became renowned for discovering and developing new and innovative design talent. Barneys is famous for selling the most intriguing edit from the world’s top designers including women’s and men’s ready-to-wear, accessories, shoes, jewelry, cosmetics, fragrances, and gifts for the home. Barneys’ signature sense of wit and style is manifested in its creative advertising campaigns, original holiday themes, and celebrated window displays. Barneys’ innovative CO-OP, a mecca for young and emerging designers, was launched in 1985 and has since expanded into a freestanding store concept. Barneys operates more than a dozen CO-OP stores in eight states across the U.S. For more information about Barneys New York please visit http://www.Barneys.com.

About Huge
Recognized by Advertising Age as one of the ten leading agencies across all marketing disciplines in 2012, Huge is responsible for core digital strategy, marketing and implementation for some of the largest companies and brands in the world. Founded in 1999, Huge has evolved a methodology and a culture that combines the most powerful aspects of research, user-centered design, technology and marketing to transform brands and grow businesses. Huge’s 500 employees operate out of offices in New York, Los Angeles, London and Rio de Janeiro. Learn more about us at hugeinc.com/about.

SOURCE﹛Barneys New York

Written by asiafreshnews

May 22, 2012 at 2:43 pm

Posted in Uncategorized

IFC, ADM Capital Launch Innovative Financing to Turn Around Asian Midsize Companies, Save Jobs

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HONG KONG, May 22, 2012 /PRNewswire-Asia/ — IFC, a member of the World Bank Group, and ADM Capital, a leading investor in stressed companies in Asia and Europe, have launched an innovative lending facility that provides a safety net for sound, but financially stressed, Asian midsize companies to save jobs as financing from European banks has dried up in the wake of the sovereign debt crisis.

 

(Photo: http://www.prnasia.com/sa/2012/05/22/20120522094126799800.html )

(Photo: http://www.prnasia.com/sa/2012/05/22/2012052209431194057.html )

(Photo: http://www.prnasia.com/sa/2012/05/22/20120522094445903574.html )

 

The Asia Secured Lending Facility fills a financing gap for midsize companies such as cement manufacturers, solar-cell producers, and textile makers in Asia, which are left with few financing options at affordable interest rates given their comparatively small size and sharply reduced investor risk appetite.

 

Prior to the crisis, many midsize enterprises had access to finance from non-traditional funding sources such as mezzanine funds, proprietary desks of investment banks, and special funds.

 

“With the recent financial crises, such lending has collapsed, leaving many companies financially stressed or constrained with limited or no access to emergency financing,” said Christopher Botsford, CEO of ADM Capital. “IFC and ADM Capital will help such companies by making loan financing available when they need it most.”

 

The financial crises have resulted in a funding gap particularly in the eight to 20 percent lending rate bracket.

 

IFC and Arch Reinsurance Ltd., a subsidiary of Arch Capital Group Ltd. which provides insurance and reinsurance on a worldwide basis through its subsidiaries, have each committed seed capital of US$50 million to the facility. ADM Capital manages the facility by making emergency loans to companies to complete stalled projects, bridge temporary liquidity shortages, make critical investments, or to restructure balance sheets.

 

The facility focuses on companies inChina,India,Indonesia, thePhilippines,Sri Lanka,Thailand, andVietnamwith the aim of positioning them for a healthy recovery. Individual loans are expected to range from US$10 to US$15 million with maturities of up to three years. ADM Capital brings a set of environmental, social, and governance principles to its lending that reflect IFC’s Performance Standards for Environmental and Social Sustainability.

 

“While Asia has been somewhat less affected by the recent financial crises, midsize companies critical toAsia’s economies suffer the most from a dearth of financing,” said Serge Devieux IFC Director for Financial Markets Asia. “Through this facility, IFC and ADM Capital will support viable businesses to save jobs, protect employees, and increase the welfare among communities.”

 

The Asia Secured Lending Facility has an innovative structure in which investor participation is structured in the form of a syndicated loan facility with a revolving senior tranche plus a junior tranche and principal repayment to investors after eight years. It targets an eventual size of up to US$300 million.

 

About IFC

 

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities — all while driving our investments to an all-time high of nearly US$19 billion. For more information, visit www.ifc.org.

 

About ADM Capital

 

ADM Capital is a global investment manager with US$1.7 billion assets under management as of April 30, 2012.  ADM Capital was founded in 1998 in the aftermath of the Asian Financial Crisis and the firm has over 14 years of emerging market investment experience.  ADM Capital has seven offices in Hong Kong, Mumbai,Beijing,Istanbul,London, Almaty andKiev.

 

ADM Capital has invested US$2.7 billion across 99 private transactions since inception, of which 64 have been fully exited. ADM Capital seeks to achieve long-term capital appreciation by focusing on rehabilitating operationally strong but financially stressed companies via restructuring, rescheduling, refinancing, debt-equity swaps, and liquidity management, and will also fund growth opportunities where alternative sources of capital are not available.

 

Stay Connected

 

www.ifc.org/eastasia
www.twitter.com/IFC_EAP
www.facebook.com/IFCindonesia
www.facebook.com/IFCwbg
www.youtube.com/IFCvideocasts

 

CONTACTS:

 

FLEISHMAN HILLARD Hong Kong
Alice Li / Florence Chan
+852-2513-0466 / +852-2513-0339
alice.li@fleishman.com / florence.chan@fleishman.com

 

SOURCE  ADM Capital; IFC

Written by asiafreshnews

May 22, 2012 at 2:20 pm

Posted in Business & Finance

Extell Development Company Announces $1 Billion in Sales at ONE57

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RECORD-BREAKING SALE AT PENTHOUSE

NEW YORK, May 21, 2012 /PRNewswire-Asia/ — Extell Development Company( http://www.extelldev.com/extell_development.html ) announced today that ONE57( http://one57.com ), slated to be the tallest residential building in New York City, has reached a record milestone of $1 billion in sales and is 50% sold since launching just six months ago. The 90-story glass tower, which is expected to top off this July, also announced a record-breaking penthouse sale.

(Photo: http://photos.prnewswire.com/prnh/20120518/NY10152)

“Our buyers are visionaries who recognize the building’s value, and are confident enough to buy off of floor plans at premium prices,” said Gary Barnett, President of Extell Development Company( http://www.extelldev.com ). “We’re seeing buyers from as far as Hong Kong to as near as Fifth Avenue.”

Rising over 1,000 feet on West 57th Street, the Christian de Portzamparc( http://www.chdeportzamparc.com )-designed building will feature 92 ultra-luxury condominium residences above a five-star Park Hyatt( http://www.park.hyatt.com ) hotel. Envisioned by a team of world-class talent, this architectural masterpiece will provide residents with breathtaking, unobstructed views of Central Park to the North, the famed Manhattan skyline to the South, and both Hudson and East Rivers. Interiors have been meticulously designed by New York-based Danish designer Thomas Juul-Hansen( http://www.thomasjuulhansen.com ).

“This is an iconic building that has set the bar for luxury living in New York City,” added Barnett.

The ONE57 Sales Gallery located at the historic Fuller Building at 41 East 57th Street and Madison Avenue has been designed to represent the exquisite space and quality materials available within the 90-story mixed-use hotel and condominium tower. Homes start at $16.75 million. Occupancy is slated for 2013. For more information, visit http://www.one57.com or contact sales@one57.com.

About Extell:

Founded and headed by Gary Barnett, Extell Development Company is a nationally acclaimed real estate developer of residential, commercial, retail, hospitality and mixed-use properties, operating primarily in Manhattan and other premier cities across the nation. For more information, visit http://www.extelldev.com.

About ONE57:

ONE57 is located at 157 W 57th Street in the heart of New York’s famed Plaza District across from Carnegie Hall. Homes at ONE57 will feature gracious dimensions and soaring ceiling heights, along with numerous custom details and materials of the highest quality. ONE57 will offer the “Extell Choice,” a unique value proposition allowing buyers to choose from a fine selection of finishes, design and layout packages to tailor homes to individual tastes.

Poised above a five-star Park Hyatt hotel, ONE57 residents will have full access to Park Hyatt’s exclusive amenities and hotel services. Additional residential amenities will include a 24-hour doorman and concierge, screening and performance space, on-site parking, triple-height indoor swimming pool and custom Jacuzzi, library, catering kitchen, and private fitness center.

SOURCE﹛Extell Development Company

Written by asiafreshnews

May 22, 2012 at 2:17 pm

Posted in Uncategorized

Positive First Quarter 2012 Performance For HSH

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HONG KONG, May 21, 2012 /PRNewswire-Asia/ — The Hongkong and Shanghai Hotels, Limited (HSH) announced today that its business divisions continued their positive performance in the first quarter of 2012.

(Logo: http://www.prnasia.com/sa/200804301910.jpg )

Commenting on the year-to-date results, HSH’s Chief Executive Officer and Managing Director Mr. Clement K.M. Kwok said, “We are pleased to see a further strengthening of occupancies and average yields across our businesses, which continue to provide very high quality of products and services for our customers. Although there is some earnings disruption from the major renovation projects underway at two of our most important assets, The Peninsula Hong Kong and The Repulse Bay, we are confident that these projects will add value to these assets and further increase their competitiveness upon completion.”

Hotels

In Asia, the five Peninsula hotels outside of Hong Kong recorded a 7% increase in occupancy and an 8% increase in revenue per available room (RevPAR) for the first quarter of 2012, compared to the same period in 2011. The Peninsula Hong Kong is in the first phase of its 15-month guestroom renovation, with 135 of its 300 guestrooms having been closed as from mid January 2012. Nevertheless, we achieved good results for the rooms which remained in operation, achieving an effective increase in RevPAR over last year. The Peninsula Tokyo, which was severely impacted by the Japan earthquake in March 2011, had a positive quarter, with occupancies in January and February recovering nearly to pre-earthquake levels.

In the USA, the three Peninsula hotels performed satisfactorily with occupancy improving by 2%, although the average room rate (ARR) and RevPAR fell by 4% and 1% respectively. Winter is traditionally the low season for our hotels in New York and Chicago.

Commercial Properties

The three-year, phased renovation programme of the Repulse Bay’s residential towers is continuing, with the total renovation of the de Ricou serviced apartment tower commencing in February 2012. This has affected occupancy, which fell 3% year-on-year, although the average yield improved by 5%.

The shopping arcades in the Peninsula hotels, the Repulse Bay and the Peak Tower all recorded improved occupancy and average yield, reflecting the health of the retail sector and demand from premier brands for space. Both the Repulse Bay Arcade and the Peak Tower were fully tenanted during the period.

For The Peninsula Hong Kong Office Tower and St. John’s Building, occupancy recorded a slight 2% drop but the average yield improved by 5% compared to the same period in 2011.

Clubs and Services

Revenue from Clubs and Services showed strong growth, rising 9% over the same period in 2011. Patronage for the Peak Tram also rose 9% year-on-year.

Outlook

In addition to the renovation projects at The Peninsula Hong Kong and the Repulse Bay, steady progress is being made on the construction of The Peninsula Paris, HSH’s first hotel in continental Europe. The hotel is scheduled to be completed in the second half of 2013.

The first phase of The Peninsula Hong Kong guestroom renovation programme, which encompasses all the guestrooms in the Tower, will be completed in late summer of 2012. The second phase, comprising the guestrooms in the original building, will commence thereafter with scheduled completion in mid 2013.

About The Hongkong and Shanghai Hotels, Limited (HSH)

Incorporated in 1866 and listed on The Stock Exchange of Hong Kong (00045), HSH is the holding company of a Group which is engaged in the ownership, development and management of prestigious hotel, commercial and residential properties in key locations in Asia, the United States and Europe, as well as the provision of transport, club management and other services. The hotel portfolio of the Group comprises The Peninsula Hotels in Hong Kong, Shanghai, Beijing, New York, Chicago, Beverly Hills, Tokyo, Bangkok, Manila and Paris (opening in late 2013). The property portfolio of the Group includes The Repulse Bay Complex, The Peak Tower and The Peak Tramways, St. John’s Building, The Landmark in Ho Chi Minh City, Vietnam and the Thai Country Club in Bangkok, Thailand.

For further information on this release, please contact:

Irene Lau Senior Manager, Corporate Affairs The Hongkong and Shanghai Hotels, Limited Tel: +852-2840-7788 Fax: +852-2840-7567 Email: irenelau@peninsula.com Websites: www.hshgroup.com, www.peninsula.com

SOURCE The Hongkong and Shanghai Hotels, Limited

Written by asiafreshnews

May 22, 2012 at 10:25 am

PneumRx, Inc. Acquires Key Assets From Broncus

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Acquisition bolsters PneumRx’s position as a leader in interventional pulmonology

MOUNTAIN VIEW, Calif., May 21, 2012 /PRNewswire-Asia/ — PneumRx, Inc. (www.pneumrx.com), a medical device company dedicated to bringing innovation and improvements to the treatment of lung disease, today announced that it has expanded its intellectual property portfolio by acquiring key patents and domain names from Broncus Technologies.

(Logo: http://photos.prnewswire.com/prnh/20120514/SF06703LOGO)

As a result of the acquisition, PneumRx now owns numerous domain names, including emphysema.com, as well as several foundational patents in the emphysema/interventional pulmonology space.

The newly-acquired Intellectual Property is a valuable complement to PneumRx’s extensive IP portfolio. It will allow the company to further strengthen its IP position, block competing technologies, and take additional segments of the pulmonary disease market.

PneumRx currently manufactures the RePneu LVRC System, a minimally invasive device intended to improve lung function in emphysema patients by bronchoscopically implanting Nitinol coils into the lungs to compress diseased tissue (lung volume reduction), restore elastic recoil, and adjust lung compliance. This treatment offers a minimally invasive alternative to lung volume reduction surgery to a broad range of emphysema patients.

The RePneu LVRC has been approved for a 30-site IDE pivotal clinical trial in the United States. The device is offered commercially in Europe, where it received the CE Mark in 2010.

“We are most pleased with the Broncus IP acquisition, which will bolster PneumRx’s position as a leader in interventional pulmonology,” said Erin McGurk, PneumRx’s President and CEO. “PneumRx looks forward to leveraging the newly-acquired IP in pursuit of our mission to provide solutions for the millions of people suffering from pulmonary disease.”

About PneumRx, Inc.

PneumRx, Inc. is a rapidly growing medical device company focused on the development and commercialization of innovative products to treat emphysema using minimally-invasive techniques. It is a privately held company located in Mountain View, California.

SOURCE﹛PneumRx, Inc.

Written by asiafreshnews

May 22, 2012 at 10:05 am

Posted in Uncategorized