TORONTO, March 10, 2014 /CNW/ - Sunwah International Limited,TSX: SWH (the "Company" or "Sunwah International"), an Asian based financial services firm, today announced that it has been retained as an agent to Ningbo Hangzhou Bay New Zone ("NHB New Zone") to secure new business opportunities, particularly related to the aviation industry. NHB New Zone is a massive industrial development currently underway in the center of the economic triangle between Shanghai, Hangzhou and Ningbo in Eastern China, encompassing an area of 235 km2.
Under the terms of the mandate, Sunwah International will promote investment and development in the NHB New Zone's proposed general aviation airport and business park, relying on the Company's global network and expertise in investment sourcing and linking international companies with Asian opportunities.
"We are very excited by this mandate and the opportunity to use our expertise to promote investment in an active development as significant as Ningbo Hangzhou Bay New Zone," said Douglas Betts, President and Chief Executive Officer of Sunwah International. "Further, we are at the dawn of a burgeoning era for China's general aviation market with the loosening regulations on general aviation flights and control over low-altitude airspace, which makes this a particularly distinctive opportunity."
The 12 km2 general aviation business park is designed to host an integrated cluster of business aviation-related activities, which include: (1) Manufacturers/assemblers of aircraft, aircraft engines and components; (2) Maintenance, repair and overhaul; (3) General aviation-oriented flight schools and pilot trainings; (4) Fixed-base operators, providing support services to general aviation activities; and (5) Training and research and development.
According to the NHB New Zone Investment Cooperation Bureau, the NHB New Zone enjoys excellent connectivity and preferential business policies and tax incentives and is already home to twelve Fortune 500 Enterprises. A total investment of US$11 billion has been made in the NHB New Zone to date with industrial output value topping US$11 billion in 2012. The NHB New Zone has estimated that industrial output will reach US$25 billion by the end of 2015. The NHB New Zone is under active development across several industries, including general aviation, automotive, manufacturing, high-end equipment, smart appliances, new materials and biomedicine. The district is also set to host numerous ecological, real estate and recreational projects, including Asia's largest wetland and a major resort and theme park, which was recently announced and expected for completion in 2017.
NHB New Zone is located in the northern part of Ningbo and at the southern foot of the Hangzhou Bay Bridge along the east coastline of China, strategically situated within 1.5-hour driving distance from Shanghai, Hangzhou and Ningbo. A second Hangzhou Bay bridge with a high-speed rail link to Shanghai is also under consideration. (Ningbo Hangzhou Bay New Zone website: http://www.hzwxq.com/cat/cat158/index.html).
About Sunwah International
Sunwah International Limited (TSX: SWH) is a strategically positioned asset-based financial services provider, linking the global investment community with China's high growth economy. Founded in 1990 and representing the financial services division of prominent Hong Kong based conglomerate, Sunwah Group, the Company is positioned to capitalize on solid, long-term growth anticipated in the industries affected most by China's development where it offers unique and targeted expertise as well as an extensive joint venture partner sourcing and strategic investor network. Sunwah International is also focused on the development potential of key Southeast Asian nations, including but not limited to Malaysia, Vietnam and the Philippines, countries that are increasing in strength in addition to being abundant in the resources China needs most. Sunwah International operates from six offices located in Hong Kong, Beijing, Shanghai, Shenzhen, Macau and Toronto.
The organization's primary Hong Kong based subsidiary, Sunwah Kingsway Capital Holdings Limited, is listed on the Stock Exchange of Hong Kong under the stock code 188. Sunwah Kingsway is licensed to provide a range of financial solutions in Hong Kong and abroad that include award-winning brokerage services and innovative corporate finance offerings.
This press release contains "forward-looking statements" as defined under applicable Canadian securities laws. These statements include, but are not limited to, statements made concerning our 2014 objectives, our strategies to achieve those objectives, as well as statements with respect to management's beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plan" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking information. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.
Except as required by applicable law, management and the board of directors of the Company (the "Board of Directors") undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: Sunwah International Limited
For further information:
Kristen Humphrey, Sunwah International Limited, (416) 888-2323, [email protected] .