Asia Fresh News

Asia Fresh Stories

Archive for December 31st, 2015

Mongolia Holdings And Monroad Enter Into Agreement To Merge Operations

leave a comment »

ULAANBAATAR, Mongolia /PRNewswire/ — Mongolia Holdings, Inc. (OTCQB: “MNHD“) and Monroad, LLC are pleased to announce that they have entered into a Contribution and Exchange Agreement. Upon completion, Monroad will become a wholly owned subsidiary of Mongolia Holdings (the “Company”). In exchange, Monroad will receive preferred shares of Mongolia Holdings convertible into an amount equal to approximately 49% of the outstanding shares of Mongolia Holdings at time of the Closing. Some of the conditions precedent to closing include the conversion of certain debt obligations to equity, a $2.00 per share trading price and capital sufficient to execute the new business strategy of the combined companies.  Additional details are available in the MNHD Form 8-K filed with the SEC on December 29, 2015.

Founded in 2001, Monroad is recognized as one of the largest road construction and earth moving companies inMongolia. Monroad offers a full range of construction services including the construction and maintenance of roads, bridges, railroad lines, drainage work, earthwork, flood protection dams, and heavy equipment rental. Monroad counts the Mongolian government and Oyu Tolgoi LLC (Rio Tinto’s Turquoise Hill Mine), as two of its largest completed-project customers. Monroad’s most recent audited financial statements report revenue of 36,286,005,641 Mongolian Tugriks, or $19,214,805 USD as of December 31, 2014. Audited results for the year ending 2015 will be disclosed in a subsequent Form 8-K to be prepared and filed by Mongolia Holdings.

The Company’s President, Brad Siniscalchi, a 23-year veteran of Hertz Equipment Rental, commented: “This transaction marks a significant breakthrough for our 2016 business strategy. Monroad’s existing facilities, capabilities and staff should significantly streamline and expedite the deployment of our Hertz Equipment Rental franchise operation in Ulaanbaatar, while potentially saving significant hard and soft launch costs. Mongolia Holdings will now possess a much wider array of capabilities necessary to meet growing demands for equipment and construction services, driven in part by international infrastructure development initiatives like ‘One Belt, One Road’ and mega-mining industry projects like Oyu Tolgoi.”

Tengis Garamgaibaatar, CEO of Monroad, stated: “Although it has not previously been our core focus, Monroad has operated an equipment rental business in Mongolia for many years. We plan to bring Monroad’s facilities, equipment, highly-trained staff, equipment maintenance capabilities, logistics, market knowledge, reputation and enthusiasm to the deployment and build-out of Hertz Equipment Rental operations throughout Mongolia. The expanded platform makes us better prepared to tackle larger projects and to more aggressively execute the growth strategy of our existing road building and earth moving operations. We believe that the systems and efficiencies of Hertz and the talent and experience of the combined management team will create many advantages for Mongolia Holdings for years to come.”

Chairman of Mongolia Holdings, Former US Ambassador Michael Ussery, said: “In addition to all the obvious benefits of this transaction, the consolidation of Monroad into Mongolia Holdings facilitates the assimilation of 15 years of market knowledge, experience and relationships, which cannot be easily replicated by other market participants. In addition, with the recent $4.4 billion financing announcement of Rio Tinto’s expansion of the Oyu Tolgoi mega-mine, it’s not unreasonable to expect greater economic growth for this exciting market, which, in turn could measurably increase demand for Monroad’s road construction and earth moving services.”

About the Company:

Mongolia Holdings, Inc., through its wholly-owned subsidiary Mongolia Equipment Rental Corporation, is the Hertz Equipment Rental franchisee for Mongolia. This exclusive franchise allows the Company to operate a business of renting, selling, and maintaining equipment for use in construction, mining, materials-handling, commercial, and industrial activities in Mongolia under the unique plan and system of Hertz Equipment Rental Corporation and Hertz Equipment Rental System. In 2014, the Company formed two wholly-owned operating subsidiaries in Mongoliacalled HERC, LLC and Equipment Rental, LLC. When qualifications are met, Mongolia Holdings intends to apply for an up-listing to the NYSE Markets, NASDAQ, or another US national securities exchange. While the Company is confident in its plans, it can offer no assurances that it will be successful in listing on an exchange of its choice. Upon closing with Monroad, it will also be one of the largest road construction companies, and best-known brands inMongolia.

About Mongolia:

Mongolia has recently been one of the fastest growing economies in the world, led by the extraction of vast deposits of copper, gold, uranium, iron ore, coal and other commodities. Its proximity to four of the largest economies in the world — China, Russia, Japan, and South Korea — creates trade and cross-border investment opportunities that are distinct from those available to competing resource-rich countries. Management believes that these natural advantages, along with recent pro-business changes in foreign investment rules, securities laws, and mining regulations, have the nation poised for sustained growth of construction, infrastructure development and industrialization. Mongolia is an independent democracy of approximately three million people dedicated to becoming an important economic hub and transportation corridor of Eurasia.

For more information, please visit MNHD.mn and monroad.mn.

Forward Looking Statement:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. Without limiting the foregoing, the words “believe,” “anticipate,” “plan,” “expect,” “seek,” “potential,” “estimate,” and similar expressions are intended to identify forward-looking statements. These statements relate to future events, including the Company’s expectations regarding Mongolia’s economy, development, and potential growth, and the Company’s and its subsidiaries’ business and operations in Mongolia or to the Company’s or its subsidiaries’ future financial performance, and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.

Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. Such risks, uncertainties, and other factors which could impact the Company and its subsidiaries and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

CONTACT: Gary Kucher, 702-530-4645, info@mongoliaholdings.com

Logo – http://photos.prnewswire.com/prnh/20151226/318136LOGO

Source: Mongolia Holdings, Inc.

Related stocks: OTC-PINK:MNHD OTC-QB:MNHD

Written by asiafreshnews

December 31, 2015 at 2:12 pm

Posted in Uncategorized

Teikoku Pharma USA, Inc. Announces FDA Approval of Docetaxel Injection, Non-Alcohol Formula

leave a comment »

-First Non-Alcohol Formulation Approved in the U.S.

SAN JOSE, California /PRNewswire/ — Teikoku Pharma USA, Inc. (“Teikoku” or “the Company”) announced today that the U.S. Food and Drug Administration (“FDA”) has approved Docetaxel Injection, Non-Alcohol Formula (“Docetaxel Injection”) for the treatment of breast cancer, non-small cell lung cancer, prostate cancer, gastric adenocarcinoma, and head and neck cancer.  Teikoku entered into an exclusive licensing agreement with Eagle Pharmaceuticals Inc. (“Eagle Pharmaceuticals”)  in October 2015 to market, sell and distribute Docetaxel Injection in the U.S.

The main difference, compared to other docetaxel formulations, is that Docetaxel Injection is the first non-alcohol formulation approved in the U.S.  Further differentiating it from some of the currently marketed docetaxel formulations is that Teikoku’s Docetaxel Injection:

  • Requires no prior dilution with a diluent and is ready to add to the infusion solution; and
  • Is available in three presentations:  20mg/ml in single-dose vials, and 80 mg/4 mL or 160 mg/8 mL in multiple-dose vials.

The need for non-alcohol docetaxel gained visibility in June 2014 when the FDA issued a Drug Safety Communication warning patients that docetaxel may cause symptoms of alcohol intoxication after treatment.  Manufacturers of docetaxel formulations for domestic use were subsequently required to revise their product labels to warn about this risk.  Some U.S. hospitals and clinics require patients to wait two or more hours after treatment with docetaxel before they can be released.  The Company’s formulation of docetaxel was specifically developed to address these concerns.

“Docetaxel Injection addresses a compelling need in the docetaxel market. As the first alcohol-free formulation approved in the U.S., we believe the benefits of this novel formulation will provide an  option for patients with alcohol sensitivity or a preference for an alcohol-free treatment.  We are excited to add alcohol-free docetaxel to our growing portfolio of differentiated injectable products and believe it has the potential to improve the lives of patients, resolve concerns among health care professionals at hospitals and infusion centers, and ultimately drive value for Eagle stakeholders,” said Scott Tarriff, President and Chief Executive Officer of Eagle Pharmaceuticals.

“The approval of Docetaxel Injection, our first oncology product, is a significant milestone in Teikoku’s history, and Docetaxel Injection marks our second FDA approved product as New Drug Application (NDA).  In addition, Eagle Pharmaceuticals’ strong presence in the oncology space makes Eagle an excellent partner for our product,” saidPaul Mori, President and CEO of Teikoku.

About Docetaxel

Docetaxel is a taxane product indicated for the treatment of breast cancer, non-small cell lung cancer, prostate cancer, gastric adenocarcinoma, and head and neck cancer.

Taxotere® (docetaxel) is marketed by sanofi-aventis U.S. LLC.  Since its patent expiration in 2011, several generics have entered into the market.  The alcohol content of these docetaxel formulations, including Taxotere, ranges from 2.0 to 6.4 grams in a 200 mg dose.

About Teikoku Pharma USA, Inc.

Teikoku Pharma USA Inc., located in San Jose, California, a wholly-owned subsidiary of Teikoku Seiyaku Co., Ltd. of Japan, is an international specialty pharmaceutical company that develops and manufactures pharmaceutical products based on our delivery platform technologies.  Teikoku’s main product is Lidoderm® (Lidocaine 5% Patch) for post-herpetic neuralgia developed by Teikoku and distributed by Endo Pharmaceuticals in the U.S and Grunenthal GmbH in Europe and Latin America as Versatis® and by Mundipharma in Asia.  Teikoku’s therapeutic focus is in Pain Management, CNS, and Oncology.

About Eagle Pharmaceuticals, Inc.

Eagle is a specialty pharmaceutical company focused on developing and commercializing injectable products that address the shortcomings, as identified by physicians, pharmacists and other stakeholders, of existing commercially successful injectable products.  Eagle’s strategy is to utilize the FDA’s 505(b)(2) regulatory pathway.  Additional information is available on the company’s website at www.eagleus.com.

CONTACT:
Francisco Bejar
Sr. Director, Business Development, Teikoku Pharma USA
Address: 1718 Ringwood Ave.
San Jose, CA 95131
P: 408-501-1804
Email: FBejar@TeikokuUSA.com

Source: Teikoku Pharma USA, Inc.

Written by asiafreshnews

December 31, 2015 at 12:37 pm

Posted in Uncategorized

To Declare Related Matters of Advanced Semiconductor Engineering, Inc. to Propose a Tender Offer for SPIL’s Common Shares and ADRs

leave a comment »

TAICHUNG, Taiwan /PRNewswire/ — Siliconware Precision Industries Co., Ltd. (Taiwan Stock Exchange: 2325.TT, NASDAQ: SPIL) (the “Company”) announced today that it has formally received the Public Tender Offer Prospectus and relevant documents from Advanced Semiconductor Engineering, Inc. (Taiwan Stock Exchange: 2311.TT, NASDAQ: ASX) (“ASE”) to acquire up to 24.71% of the common shares and/or American depositary shares of the Company.

In accordance with Articles 14, paragraph 1 and 14-1 of the Regulations Governing Public Tender Offers for Securities of Public Companies, the Company will, within ten (10) days after its receipt of the copy of the Public Tender Offer Report Form, the Public Tender Offer Prospectus, and other relevant documents, hold meetings of the Review Committee and the Board of Directors, and have the prescribed particulars publicly announced.

For more details, please refer to the Public Tender Offer Prospectus.

Contact:
Siliconware Precision Industries Co., Ltd.
No.45, Jieh Show Rd.
Hsinchu Science Park, Hsinchu
Taiwan, 30056
www.spil.com.tw

Janet Chen, IR Director
janet@spil.com.tw
+886-3-5795678#3675

Mike Ma, Spokesperson
mikema@spil.com.tw
+886-4-25341525#7890

Source: Siliconware Precision Industries Co., Ltd.

Related stocks: NASDAQ-NMS:SPIL Taiwan:2325

Related Links:

Written by asiafreshnews

December 31, 2015 at 10:19 am

Posted in Uncategorized