BEIJING, March 1 /CNW/ - Melco China Resorts (Holding) Limited (TSXV: MCG) ("Melco China Resorts" or the "Company"), is pleased to announce that it has entered into a strategic relationship agreement with the China Entrepreneurs Forum ("CEF") under which the CEF has agreed to hold all of its future Annual Forums on a permanent basis at the Sun Mountain Yabuli Resort ("Yabuli"). In addition, both Parties also agreed to establish a "CEF Founders Club" that actively promotes Sun Mountain Yabuli's resort vacation homes for purchase by CEF members, as well as work with its 5,000 member companies to select Yabuli as the site for their corporate meetings and retreats.
From February 26th to 28th, 2010 the CEF held its 10th Anniversary of its annual forum at Sun Mountain Yabuli prompting the formal extension of Yabuli as the permanent venue for the annual meeting. Over 500 of China's leading entrepreneurs and business leaders attended the annual conference including Mr. Shuning Tian, Chairman of the Board of China Broadband Industry Foundation and the Forum's Chairman-in-office for 2010; Mr. Yuanqing Yang, CEO of Lenovo Group; Mr. Yun (Jack) Ma, founder and Chairman of Alibaba; Mr. Yanhong (Robin) Li, founder and Chairman of Baidu; and Mr. Shi Wang, Chairman of Vanke (China's largest publicly traded real estate company). The execution of the agreement took place in a formal signing ceremony during the conference presided over by Mr. Yao Sun, Vice Governor of Heilongjiang Provincial Government, Mr. Dongsheng Chen, Chairman of Taikang Group (China's leading insurance group and Chairman of the China Entrepreneurs Forum Council), and Mr. Zhenhua Mao, Chairman of Wisecord Holdings and Chairman of China Chengxin Credit Management Co., Limited (China's largest credit rating agency).
The theme for this year's conference was focused on the recent economic downturn and China's role in the emergence of positive economic growth worldwide with speakers from government agencies and leading businesses together with research scholars and national economists. Distinguished guest speakers included Mr. William Kirby, Harvard University Distinguished Service Professor, a director of the Fairbank Center for Chinese Studies, and Chairman of the Harvard China Fund; Mr. Claude Zimmer, a member of the board of directors of the Luxembourg Central Bank; Mr. Mingkang Liu, the Chairman of China Banking Regulatory Commission; and Mr. Yingwei Zhang, Chief Economist to CEF.
"In early 2009 we successfully hosted the CEF at Sun Mountain Yabuli and are delighted that the amenities and services we provide have more than satisfied the discerning criteria for this event," stated Mr. Graham Kwan, Chief Executive Officer of Melco China Resorts. "We are extremely proud to confirm that Sun Mountain Yabuli will be the permanent venue of the CEF's annual conference. The support of the CEF through its distinguished member network adds tremendous value to the Company and sets us apart from all other resorts in China."
"Sun Mountain Yabuli in many ways is a symbol of the pursuit of excellence our members are seeking in each of their businesses and for China," stated Mr. Dongsheng Chen, Chairman of Taikang Group (China's leading insurance group) and Chairman of the China Entrepreneurs Forum Council. "This is a quality resort that has succeeded through its commitment to excellence and to becoming the leading business of its kind in the country. As the benchmark for all other resorts to follow, our intention is to continue to support this resort through our community of Chinese and international business leaders."
About the China Entrepreneurs Forum
The China Entrepreneurs' Forum ("CEF") is the leading and most influential community of China's most distinguished and successful entrepreneurs and business leaders with over 5,000 members from across a variety of key industries in China from finance and banking, real estate, investment, manufacturing, advanced technology, and internet. The CEF has successfully held nine CEF annual conferences and five Summer Summits since 2001. Today, both the annual conferences and the summer summits have become two of the most important events which attract great attention, participation and enormous interest from mainland-based entrepreneurs, as well as those from Hong Kong, Macau and Taiwan. The influence of CEF events continue to be headlined in all the main financial media across China.
About Melco China Resorts
Melco China Resorts is the premier developer of four season destination ski resorts in China. Melco China Resorts is transforming existing China ski properties into world-class, four seasons luxury mountain resorts with excellent real estate investment opportunities for discerning buyers. In February 2009 the Company's Yabuli Resort was awarded Best Resort Makeover in Asia by TIME Magazine. Melco China Resorts' leadership team boasts a proven record of resort development success both internationally and in China. www.melcochinaresorts.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, and actual results may vary from the forward-looking information. Implicit in this information are assumptions regarding future operations, plans, expectations, anticipations, estimates and intentions, such as the plans to develop the ski resorts in China. These assumptions, although considered reasonable by Melco China Resorts at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of Melco China Resorts are subject to a number of risks and uncertainties, including general economic, market and business conditions, uncertainty relating to land use rights, adverse industry events for the ski and real estate industries, Melco China Resorts ability to make and integrate acquisitions, the requirements of recent Chinese regulations relating to cross-border mergers and acquisitions, the inability to obtain required approvals or approvals may be subject to conditions that are unacceptable to the parties, changing industry and government regulation, as well as Melco China Resorts ability to implement its business strategies, dispose of assets or raise sufficient capital, seasonality, weather conditions, competition, currency fluctuations and other risks, and could differ materially from what is currently expected as set out above.
Forward-looking information contained in this press release is based on current estimates, expectations and projections, which Melco China Resorts believes are reasonable as of the date of this press release. Melco China Resorts uses forward-looking statements because it believes such statements provide useful information with respect to the operation and financial performance of Melco China Resorts, and cautions readers that the information may not be appropriate for other purposes. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While Melco China Resorts may elect to, it does not undertake to update this information at any particular time.
SOURCE MELCO CHINA RESORTS (HOLDING) LIMITED
For further information: For further information: Melco China Resorts, Investor Relations, Kevin O'Connor or Ali Mahdavi, Tel: (416) 962-3300, Fax: (416) 962-3301, Email: email@example.com