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Asia Plantation Capital Sponsors Global Sustainable Cosmetics Summit in Hong Kong and Paris

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SINGAPORE, Nov. 18, 2014 /PRNewswire/ — With its sponsorship of this year’s Sustainable Cosmetics Summit, held recently in Hong Kong (with the Paris event coming up in two weeks’ time), Asia Plantation Capital (APC) continued its commitment and ongoing efforts towards driving sustainable development throughout the world.

Dr. Pakamas of Asia Plantation Capital's Scientific Advisory Board delivering a paper on Oud at the Summit
Dr. Pakamas of Asia Plantation Capital’s Scientific Advisory Board delivering a paper on Oud at the Summit

Industry professionals learning more about Asia Plantation Capital
Industry professionals learning more about Asia Plantation Capital

Sizing up Agarwood and the multitude of benefits it brings to the world
Sizing up Agarwood and the multitude of benefits it brings to the world

The summit in Hong Kong was attended by more than 100 industry professionals at various stages of involvement and interest in all aspects of sustainability.

Associate Professor Dr Pakamas Chetpattananondh, from Thailand’s Prince of Songkla University, and a key member of APC’s Scientific Advisory Board, presented her current research paper on the growth, harvesting, and sustainability of the Aquilaria tree. She focused in particular on the trees’ end product – Oud – and its properties that not only benefit society but also have a number of commercial applications.

The benefits of Oud, Dr Pakamas went on to highlight, range from extensive use in Traditional Chinese Medicine (with potential Western medicine applications in the near future), through to it becoming an integral part of an ever expanding range of cosmetic and lifestyle products.

“Even as we continue to deliver strong financial performance for our investors and shareholders,” said Mr Barry Rawlinson – Chief Executive Officer, Asia Plantation Capital, “We are also focused on driving sustainability for society. It is a vital part of our company’s core values, and central to our company’s stated mission. Asia Plantation Capital’s participation at the Sustainable Cosmetics Summit, in both Hong Kong and Paris, is a clear demonstration of our continuing commitment to spreading the message of how important sustainability is for corporations.”

He continued, “We want to encourage more companies to start or expand on their efforts to incorporate a sustainability focus in their everyday operations. Simply being environmentally aware is not enough. Companies also need to engage with communities to build up society as a whole, for a more holistic approach to sustainability.”

Established officially in 2008 (although operating privately since 2002), Asia Plantation Capital owns and/or operates diverse plantations and agricultural projects on four continents with operations at various stages inThailand, Malaysia, China, Laos, India, Cambodia, Sri Lanka, Myanmar, North America and Europe.

Dr. Pakamas of Asia Plantation Capital’s Scientific Advisory Board delivering a paper on Oud at the Summit

Part of the Asia Plantation Capital Group, APC also serves as plantation and agricultural managers and advisors to several Private Equity Funds that focus on the forestry, farming, and renewable energy investment sectors.

To date, in excess of US$600 million worth of plantations and biological assets are currently owned and/or under management on behalf of private clients, and this is expected to rise over the next decade, with a near horizon forecast of US$1 billion.

At the heart of Asia Plantation Capital’s mission statement is the intention to become the world’s leading operator of sustainably managed forestry and agricultural plantations. These operations range from project evaluation and plantation management, through to forestry product distribution. APC strongly regards corporate responsibility as not simply being about securing profits for shareholders and investors, but also about contributing positively to society and the environment.

“We are very pleased to welcome Asia Plantation Capital to participate in the Asia-Pacific and European editions of the Sustainable Cosmetics Summit, taking place in Hong Kong and Paris this November,” said Amarjit Sahota, President of Organic Monitor, organiser of the Sustainable Cosmetics Summit.

“In recognition of their pioneering approach to plantations, we are proud to announce that Asia Plantation Capital is a finalist in the Sustainability Pioneer award at the Sustainable Beauty Awards, hosted in Paris on 24th November. They have been selected not just because their plantations are grown and harvested in a sustainable manner, but also because the company actively works with local communities to raise educational and living standards; this is important to discourage deforestation and other environmentally harmful activities.”

Notes for Editors:

For further information, please contact:

Adrian Heng
Group Marketing Director
Office: +65 6222 3386
Mobile: +65 9750 7440

About Asia Plantation Capital

Quick facts:

  • US$ 600 million – combined value of assets owned and under management
  • US$ 53.5 million – turnover in the last financial year
  • US$ 100 million – turnover forecast for current financial year
  • 2,000,000 – Aquilaria trees today, on Agarwood plantations.

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

Promoting the use of sustainable and certified wood is the best way of preventing deforestation, protecting biodiversity, and combatting poverty in the tropical rainforest regions. For the yachting sector (a major user of teak) which strives for excellence and which is already involved in environmental efforts, this is also a way of ensuring that no wood from illegal logging is used.

About the Sustainable Cosmetics Summit

The Asia-Pacific edition of the Sustainable Cosmetics Summit will tackle some of the major marketing and technical issues associated with green cosmetics. Topics on the summit agenda include formulating paraben-free cosmetics, potential of organic baby care market, building regional distribution, developing halal-certified cosmetics, green emulsifiers & surfactants, ingredient authenticity and mislabelling, the power of nutri-cosmetics, and insights into the green Asian consumer.

Sustainable Cosmetics Summit Asia-Pacific will be once again hosted in Hong Kong on 10-11 November.

Organised by Organic Monitor, the aim of the Sustainable Cosmetics Summit is to encourage sustainability in the beauty industry by bringing together key stake-holders and debate key issues in a high-level forum.

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Source: Asia Plantation Capital

Written by asiafreshnews

November 19, 2014 at 6:01 pm

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Globe Telecom Launches Philippines’ First-ever Virtual Video Store on Mobile

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Over 40 million prepaid customers get access to over 200,000 videos on their mobile phones for as low as US$0.02 each

MANILA, Philippines  /PRNewswire/ — Globe Telecom, one of the leading telecommunications networks in the Philippines, is bringing its over 40 million prepaid customers a richer mobile data experience on the back of increasing affordability and availability of smartphones with the launch of the country’s first-ever one-stop shop virtual video store.

Globe recently launched Piso Mall, a mobile video store which enables Globe prepaid and TM customers to watch videos on their mobile phones from a selection of over 200,000 videos, with each video available for as low as P1 or US$0.02.

With Piso Mall, customers can enjoy their favorite TV shows, movie trailers and clips, music videos and video tutorials at a pocket-friendly price, anytime, anywhere via their mobile phones. Videos can be chosen from over 12 channels including Hollywood and News, Music, Kids, For Men, Lifestyle, Sports, Extreme, Technology, Cooking and Web Series.

There is no maintaining prepaid load balance required to access Piso Mall and no additional data charges are applied when browsing through videos.

“Strengthening our content play, Globe is bringing mobile entertainment to prepaid customers with the country’s first-ever virtual video store Piso Mall, giving them access to hundreds of thousands of videos of various genres and categories. For as low as one peso (US$0.02), prepaid and TM customers can use their smartphones and its features fully, going beyond the usual calls and texts. With Piso Mall, we are changing the prepaid landscape once again by providing our customers easy, affordable and hassle-free access to video content, enabling them to live their digital lifestyle,” says Issa Cabreira, Senior Vice President, Globe Consumer Mobile Marketing.

Globe is a trailblazer in the Philippine mobile prepaid market as it pioneered GoSAKTO, a service that allowed prepaid customers to create and customize their own prepaid promos based on their budget, needs, and lifestyle. The telecom company also bundled its core call and text promos with the world’s top messaging apps such as Viber, FB Messenger, KakaoTalk, WeChat, WhatsApp, and Line, enabling customers to connect with their contacts from around the world. Proving its global impact, GoSAKTO was adjudged Best Network-based Solution for Serving Customers Award in the 19th Annual Global Mobile Awards by the GSMA in Barcelona, Spain for delivering innovative pricing features to the prepaid market that have previously been confined to the postpaid market — giving many more customers the ability to personalize their services and tailor them to their needs.

During the third quarter of the year, Globe Telecom’s prepaid business remained in full swing after its customer base breached the 40-million mark amidst intense competition and aggressive switching in the prepaid market.

As of end-September 2014, total prepaid base has grown to 40.7 million, up 18% from the 34.5 million customers as of the same period last year. The telco’s digital brand for the youth Globe Prepaid grew its customer base to 18.9 million customers, a 12% increase from last year’s customer base of 17 million, while TM, the company’s value prepaid brand, increased its customer base to 21.8 million, a solid 24% growth from last year’s 17.6 million customers.

Globe Prepaid gross acquisitions for the first nine months of the year grew to 11.6 million or 23% higher than the acquisition level in the same period last year of 9.4 million. Coming from strong gross acquisitions, net incremental subscribers likewise improved by 109% to 1.1 million from 523,797 in the same period last year.

TM, on the other hand, generated a total of 5 million new SIMs in the third quarter of 2014, bringing total gross acquisitions as of the end of September this year to 15.5 million, up 27% against the same period in 2013.

Globe Press Room:

Twitter: @talk2GLOBE  Facebook:

Source: Globe Corporate Communications Team

Written by asiafreshnews

November 19, 2014 at 5:59 pm

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First Dynamic DDoS Mitigation Service Launched by ISP

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ISP Vibe Communication Selects NSFOCUS to Deliver DDoS Protection as a Service

SINGAPORE /PRNewswire/ — As attack vectors increase, many ISPs and hosting providers are finding they need to ramp up their security offerings, essentially becoming a security-as-a-service organization. NSFOCUS today announced that Internet Service Provider (ISP) Vibe Communications selected its anti-DDoS solution to deliver New Zealand’s first dynamic DDoS mitigation service for carriers and ISPs.

IDCs, ISPs, and hosting service providers are prime targets for attack, causing many to consider new business models that include DDoS mitigation.

  • Robust solution beats competition: As a highly technical service provider, Vibe’s criteria and expectations are stringent. The NSFOCUS Anti-DDoS system (ADS) not only delivers technically, but also provides rich features and mitigates attacks better than any of the other vendors it evaluated. To learn more, visit ADS Data Sheet.pdf.
  • NSFOCUS provides best-in-class protection performance: The NSFOCUS ADS solution provides granular and precise DDoS mitigation. Continuous software upgrades defend against newly discovered threats and provide integrated protection for both software and hardware. Coupled with the support of NSFOCUS’s 24/7 rapid-response security teams, providers are able to deliver continuous service availability to end users.
  • Vibe Communications delivers world-class services: As a full-service telco and network services provider, Vibe incorporated the ADS solution to expand its services to include DDoS mitigation.
  • Carrier-grade DDoS mitigation: Vibe incorporated the NSFOCUS solution to extend DDoS mitigation capabilities to its International IP Transit network. The company now offers the service through its FlexProtect product portfolio, providing a number of service options including threshold preferences, volume of protection and more. The service is available through its San Jose offices in the U.S., with plans to extend the service to other key international nodes as demand increases.

Rudi Hefer, chief executive officer, Vibe Communications, said: “With the substantial increase of both scale and frequency of DDoS attacks, it was a natural progression for us to incorporate DDoS mitigation solutions into our portfolio. Protecting ourselves and our customers from crippling attacks simply was not a luxury anymore, but a necessity. NSFOCUS demonstrated the most robust mitigation solution available and we look forward to offering this level of protection to our customers.”

Yonggang Han, chief operating officer of global business, NSFOCUS, said: “Internet service providers (ISPs) need to be able to conduct business without worrying about network disruption. If implemented and managed properly, adding security-as-a-service has the potential to generate new revenue streams for many ISPs, IDCs and hosting centers. Our optimized Anti-DDoS solution designs apply the behavioral statistics and reputation mechanisms needed to defend against more sophisticated DDoS attacks, enabling a secure ecosystem for providers.”


NSFOCUS is a global provider of distributed denial of service (DDoS) mitigation solutions. Founded in 2000, the company provides enterprise-level, carrier-grade solutions for DDoS mitigation, Web security and enterprise-level network security. With more than a decade of experience in DDoS research and development and mitigation, NSFOCUS has helped customers around the world maintain high levels of Internet security, website uptime and business operations to ensure that their online systems remain available. For more information, visit

About Vibe Communications

Established in 2008, Vibe is a full service Telco, network services wholesaler and carrier services provider with core capability in IP transit, DDoS mitigation, international managed data, Layer 2 Ethernet transport, VoIP, fibre access and access aggregation, collocation, wholesale automation and ISP build and consulting services. Vibe operates its own international data network with presence in New Zealand, Australia, USA and UK. For more information visit


Written by asiafreshnews

November 19, 2014 at 5:58 pm

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Mobile Security Provider V-Key Receives US$12M in Series B Funding from Ant Financial Services Group Investment

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SINGAPORE, Nov. 18, 2014 /PRNewswire/ — V-Key Inc (V-Key), a pioneering mobile security and cryptographic technology company, announced that Ant Financial Services Group (Ant Financial), the operating company of Alipay, and existing investor venture capital firm, IPV Capital, are making a USD12 million Series B investment for a minority stake in V-Key.

V-Key is the inventor of the V-OS, a multi-layered Secure Element technology that provides hardened security for mobile solutions while simplifying mobile identity, data and e-commerce transactions. Since its launch, the company has won multiple awards and secured the interest and strategic partnership of many global players in the financial payments space.

V-Key’s first-of-its kind V-OS and V-Guard solutions align well with Ant Financial’ interests.  V-Key’s Secure Element Technology will provide the ease of convenience and hardened security that will be required as Ant Financial’s businesses, Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank (under formation), expand their reach into the global financial services markets. Alipay is currently the largest third-party online payment service provider in China by total payment volume.  Alipay handles over 80 million transactions daily, 45 million of which are through mobile payment accounts.

“V-Key’s all-in-one virtual secure element technology is in line with Alipay’s commitment too creating a safer, more convenient global transaction environment,” said Jason Zhu, Head of the Alipay investment team. “With global mobile payment transactions on the rise, mobile identity and data protection on numerous types of mobile devices and operating systems globally remains paramount, in addition to their ease-of-use and convenience.”

V-Key’s V-OS technology is currently deployed on millions of devices throughout the world. The Series B funding will go towards V-Key’s global expansion and further development to strengthen their Secure Element technology offerings. Currently, V-Key has offices in the US, and Singapore. V-Key and Ant Financial will make joint efforts to provide security technology to companies which need high level protection.

“We are pleased to join the Ant Financial investment portfolio, and are excited to be part of security technology providers to their various companies in powering mobile identity and securing transactions.  AliPay is one of the most dynamic players in the payments market today and we appreciate the confidence that Ant Financial and IPV Capital have in our solutions and strategic direction,” said Benjamin Mah, Co-Founder and CEO for V-Key. “This investment will allow V-Key to accelerate key strategic initiatives and cement our position as a mobile virtual secure element leader.”

About Ant Financial Services Group

Formally established in October 2014, Ant Financial Services Group is focused on serving small and micro enterprises as well as general consumers. With the vision of “to turn trust into wealth,” it is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Alipay Wallet, Yu’e Bao, Zhao Cai Bao, Ant Credit and MYbank (under formation).

About IPV Capital

IPV Capital is an early growth venture capital fund that invests in high-growth technology sectors including software, cleantech, technology services and semiconductor. With offices in Beijing, Shanghai and Silicon Valley, IPV Capital brings its wealth of management and technology development experience to mentor a new breed of entrepreneurs with global aspirations. The IPV Capital team has a solid track record in successfully growing technology startups in China and beyond, making it the ideal go-to partner for investment in the country. For more information, see

About V-Key Inc

V-Key a mobile security and cryptographic technology provider,is the pioneer and inventor of V-OS, a patent-pending virtual secure element for convenient and secure mobile identity, data, and transactions. Powered by its V-OS and V-Guard suite of products, V-Key secures the apps, not the device – making data, mobile transactions and apps secure. V-Key continually identifies and researches the latest mobile threats in a fast evolving mobile application and technology landscape, in order to deliver advanced, hardened protection for its users. V-Key’s offices are located in Singapore and USA.  For more information, please visit

For Media Enquiries:

Adele Soh
Account Executive
The Hoffman Agency

Source: V-Key

Written by asiafreshnews

November 19, 2014 at 5:19 pm

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Nopras Technologies Inc. Appoints Director Of Business Development – East Coast Operations

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NOVI, Mich.  /PRNewswire/ Nopras Technologies ( has announced the appointment of Stewart B. Rosenberg to the position of Director, Business Development – East Coast Operations. Mr. Rosenberg joins Nopras from Bio-Investigations Ltd., a specialized global venture capital and new business development consultancy he founded 27 years ago, focused in the fields of human, veterinary, and agricultural health care. With undergraduate and graduate degrees in biology, biochemistry, and business from TheUniversity of Connecticut, the University of Pennsylvania, and Wharton, Mr. Rosenberg’s corporate career began at Centocor (Malvern, PA), now a division of Johnson & Johnson, where he managed the In Vivo Business Unit, and at EMDS (Gibbstown, NJ), then the U.S. subsidiary of E. Merck (Darmstadt, Germany), where he managed Technology / New Ventures. Rosenberg will be geographically located for Nopras on the Eastern U.S. Coast, to particularly address the needs of biotechnology and biopharmaceutical companies heavily focused along the Boston-Washington Corridor. The position carries global responsibility.

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“We are pleased to welcome Stewart to this new position,” said Carla Glaze, Nopras Technologies’ Director of Strategic Accounts. “With a keen understanding of complex technical issues and an in-depth knowledge of statistical methods, both of which complement his business development experience in the CRO business segment, Stewart allows us to bring the highest level of sophistication, sensitivity, and timeliness to the needs of our Clients and future prospects, from the earliest stage of the new business development cycle. His unique background allows Nopras to further differentiate ourselves in the value proposition, as the CRO industry undergoes continual refinement geared to customer needs.” Rosenberg currently is completing 2014 academic appointments with the Department of Chemistry at The University of Connecticut, where he teaches chemistry, as well as an appointment at Central Connecticut State University, which he will continue in 2015, where he currently lectures in Inferential Statistics, addressing hypothesis testing, linear and multiple regression, ANOVA, and nonparametric methods.

“Stewart’s solid broad-based experience in new business development, as well as his innate grasp and continual assessment of the needs, opportunities and complexities facing global multinational companies, all of which he has nurtured over the past 35 years through project management, business development, licensing, and partnership relationships, allow Nopras to further execute on its mission,” said Ms. Glaze. “Nopras operates at the intersection of smaller CROs as well as larger consulting services, capitalizing on the strengths of each, by providing the advantage of flexibility and rapid decision-making seen in the former, as well as providing a focus on “high-end” complex global projects, more often seen in the latter. We are pleased to welcome Stewart to our team.”

Mr. Rosenberg has two sons and resides in Madison, CT with his wife Natalie, as well as with Bonnie, a one year rescued dachshund that was found abandoned on the streets of Hartford pregnant with two puppies, and which they adopted in February.

Nopras Technologies, Inc. is a global management consulting firm which specializes in CRO services to organizations in the pharmaceutical, biotechnology and biologics industries, as well as the medical device and diagnostics’ sectors. With core competencies in the life sciences’ technical services, process and organizational excellence, regulatory compliance, quality management, and product development, Nopras Technologies draws heavily upon the expertise and skills of uniquely qualified former FDA key personnel, as Nopras’ project Consultants, providing a tailored differentiation to Nopras’ operations and requests for services. Nopras Technologies has its headquarters in Novi, MI US and additional offices in Fort Washington, PA US; Singapore; and Shanghai.

Certain statements in this press release constitute forward-looking statements, are not historical facts, and involve risks and uncertainties that could cause actual results to differ from those expected and projected. Such risks and uncertainties include, but are not limited to (i) general economic conditions; (ii) conditions specific to the industry; (iii) the company’s’ ability to develop or acquire new technology or products through licensing, merger or acquisition and to obtain regulatory approval to commercialize diagnostic, therapeutic or preventative products; (iv) the effectiveness and ultimate market acceptance of any such products; (v) limitations on third party reimbursements with respect to any such products; and (vi) competition. The company does not undertake to update or revise any forward-looking statements contained herein whether as a result of new information, future events or otherwise.

Source: Nopras Technologies, Inc.

Written by asiafreshnews

November 19, 2014 at 3:53 pm

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Network Security Needs and Increasing Cloud Use Drive Global Communication Test Services Market

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— Adoption will continue rising as end users seek ways to determine impact of new technologies on their businesses, finds Frost & Sullivan

MOUNTAIN VIEW, Calif. /PRNewswire/ — The wireless industry – particularly the 4G/ long-term evolution (LTE) segment – offers immense opportunities for communication test service providers globally.Testing as a service, which is a more cost-effective option than purchasing test equipment, has gained momentum in Europe after the economic downturn. The communication test services markets in North Americaand Asia-Pacific have also witnessed significant traction.

End-users lack knowledge on communication test services, which has long hindered market growth.
End-users lack knowledge on communication test services, which has long hindered market growth.

New analysis from Frost & Sullivan, Global Communication Test Services Market, finds that the market earned revenues of $604.5 million in 2013 and estimates this to reach $993.6 million in 2020. The study coversapplication layer, broadband wireless, security and broadband wire line test services.

For complimentary access to more information on this research, please visit:

“The need to store huge amounts of data in the cloud is fueling demand for communication test services globally,” said Frost & Sullivan Measurement & Instrumentation Industry Manager Sujan Sami. “To gain market share, vendors must keep abreast of market dynamics and be able to perform testing services for all next-generation technologies including software-defined networks, network functions virtualization, cloud and big data.”

However, end-users lack knowledge on communication test services, which has long hindered market growth. While it is difficult for vendors to sell test equipment due to the lack of awareness, it is even more difficult to promote test services, as these require an understanding of the benefits of testing and an appreciation of its importance. To counter this, educating and training end users on the necessity to test communication devices should be a key focus for vendors.

“As end users expect quantifiable data to ascertain the impact new technologies will have on their business, the adoption of communication test services will pick up pace,” noted Sami. “Customers recognize that streamlining the communication process is important and, thus, vendors offering holistic solutions that can test and validate data will attract many customers. Another way to increase market presence would be to build intelligence into communication systems and make them more user-friendly so that experts will no longer be required to run tests.”

Global Communication Test Services Market is part of the Test & Measurement Growth Partnership Service program. Frost & Sullivan’s related studies include: Analysis of the Global LTE-Advanced Test Equipment Market, Global Wireless Protocol Analyzers, and Analysis of the Global Fiber Optic Test Equipment market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

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Global Communication Test Services Market


Ariel Brown
Corporate Communications – North America
P: +1-210-247.2481
F: +1-210-348.1003

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Source: Frost & Sullivan

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November 19, 2014 at 3:43 pm

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Mogul Power LLC Signs Binding Memorandum of Understanding with Chinese State Owned Enterprise SEPCOIII Electric Power Construction Corporation

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-Mogul Power LLC, backed by affiliates of New York-based investment manager Firebird Management LLC, signs binding Memorandum of Understanding with Chinese State Owned Enterprise SEPCOIII Electric Power Construction Corporation for the development and financing of the Tevshiin Gobi power plant project.

BEIJING  /PRNewswire/ — Today, Mogul Power LLC, a Mongolian company founded and financed by two funds managed by an affiliate of New York-based Firebird Management LLC (“Firebird”), is pleased to announce that it has signed a binding Memorandum of Understanding (MOU) with SEPCOIII Electric Power Construction Corporation (“SEPCOIII”), a Chinese state-owned enterprise, for the development and financing of the Tevshiin Gobi power plant project. The management teams of Mogul Power LLC, Firebird, and SEPCOIII attended the sigining ceremony at the Embassy of Mongolia to the People’s Republic of China in Beijing, and once again expressed their intention to work together to successfully develop the project.

The Mogul Power LLC, Firerbird and SepcoIII teams join the Ambassador of Mongolia, Mr. Sukhbaatar Ts., and the Senior Counsellor of Commercial and Economic affairs, Mr. Khurrenbaatar B at the signing of the MOU at the Embassy of Mongolia in Beijing.
The Mogul Power LLC, Firerbird and SepcoIII teams join the Ambassador of Mongolia, Mr. Sukhbaatar Ts., and the Senior Counsellor of Commercial and Economic affairs, Mr. Khurrenbaatar B at the signing of the MOU at the Embassy of Mongolia in Beijing.

The 600MW Tevshiin Gobi mine mouth power project, requiring an estimated $1 billion USD and owned by Mogul Power, will be constructed at the Tevshiin Gobi coal deposit in the Santsagaan Sum of the Dondgobi province. The power plant feasibility study was completed by an American energy engineering firm, Burns and Roe Enterprises Inc., and approved by the Mongolian Ministry of Energy in 2013. The project has received a permit to construct from the Mongolian Energy Regulatory Commission, and approval of its Environmental Impact Assessment from the Ministry of Environment.

SEPCOIII Electric Power Construction Corporation, founded in 1985 is an international EPC power contractor and a leading subsidiary of China’s energy services corporation, Power Construction Corporation of China (also known as PowerChina). SEPCOIII has broad experience in the international power sector – including gas and coal power plants, wind, solar, hydro, nuclear and biomass, as well as substations and transmission lines. With a long list of awards and nominations, SEPCOIII has completed high quality works worldwide on over 33,500 MW of capacity as of 2013, which brought in revenue of RMB 13.5 billion ($2.23 billion). Since 2013, SEPCOIII’s strategy has broadened to include the Independent Power Producer business sector, hence SEPCOIII is now actively seeking power project investment opportunities internationally, including within Mongolia in particular.

Based in New York, Firebird started investing in Mongolia in 2006 and is the largest foreign institutional investor operating on the Mongolian Stock Exchange.

James Passin, Principal at Firebird, stated, “I am excited to advance this important energy project in Mongoliafollowing the passage of the Investment Law in October 2013.”

Mr. Zhang Hongsong, Vice President of SEPOCOIII, reiterated, “This project underpins the importance of the recent discussions for more energy cooperation – during the recent APEC meetings in Beijing and also recently addressed between the top leaders of both countries.”

Mr. Sukhbaatar Tsedenjav, Ambassador of Mongolia to the People’s Republic of China, was a witness to the signing and expressed his support for the project. “The government of Mongolia supports this project,” he said, “which is the first mine-mouth IPP in the history of our country, and one of the first to pave the way for further cooperation between our two great countries.”

For more information, contact Erdembileg Jugdernamjil at

In the presence of Ambassador Sukhbaatar Ts., Mr. Zhang Hongsong, Vice President of SepcoIII (left) and Mr. Erdembileg J., CEO of Mogul Power LLC (right) celebrate the signing of the agreement.
In the presence of Ambassador Sukhbaatar Ts., Mr. Zhang Hongsong, Vice President of SepcoIII (left) and Mr. Erdembileg J., CEO of Mogul Power LLC (right) celebrate the signing of the agreement.

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Source: Mogul Power LLC

Written by asiafreshnews

November 19, 2014 at 3:39 pm

Posted in Uncategorized