2007'02.01.Thu
Valeo Receives Quality Recognition From Toyota
March 31, 2006
PARIS, March 31 /Xinhua-PRNewswire/ -- Valeo today
announced that it has received two Superior Awards for
Quality from Toyota Motor Europe, the highest recognition
that Toyota can offer to a supplier. It is the first time
that Toyota Motor Europe is giving two Superior Awards for
Quality to one supplier. They respectively recognize the
performance of Valeo Lighting Systems and Valeo
Transmissions.
"The suppliers who receive these awards have
provided exceptional performance in Quality to our Toyota
plants in Europe," said Mark Adams, Toyota Motor
Europe's Senior General Manager Purchasing.
"It is an honor to receive these two Awards and to
be recognized for our performances in quality, delivery and
warranty by Toyota, one of the most quality-minded car
manufacturers in the world," said Valeo's Chairman and
CEO Thierry Morin who received the awards from Toyota Motor
Europe's President Shinichi Sasaki at a ceremony in
Brussels.
Mark Adams declared that he "was struck by the
degree of passion and belief with which the quality message
is delivered across the Valeo organisation."
"The close cooperation between Toyota and Valeo
has greatly influenced our spirit of quality. But it is
through the change of our culture by using the SanGen Shugi
attitude that we could improve step by step our
performance," added Thierry Morin.
Valeo is an independent industrial group fully focused
on the design, production and sale of components,
integrated systems and modules for cars and trucks. Valeo
ranks among the world's top automotive suppliers. The Group
has 134 plants, 68 R&D centers, nine distribution
centers and employs 70,400 people in 26 countries
worldwide.
For more information, please contact:
Alexandre Telinge,
Group Media Relations & PR Manager
Tel: +33-0-1-40-55-20-74
Matthieu de Crevoisier,
Group Media Relations Coordinator
Tel: +33-0-1-40-55-37-68
SOURCE Valeo
PR
2007'02.01.Thu
Meet Your Future Automotive Logistics Business Partners in China
March 31, 2006
LONDON, March 31 /Xinhua-PRNewswire/ -- Continuing on
the success of last year's conference, the 3rd Automotive
Logistics Asia conference will once again take place at The
Westin Hotel, Shanghai, China, between 15 - 16 May 2006. For
two days, global senior automotive executives will discuss
the latest developments in automotive logistics.
The event is being organised by Automotive Logistics
magazine, the creators of the Automotive Logistics Europe
and Automotive Logistics Global conferences, and will
provide unparalleled networking opportunities for logistics
professionals.
Automotive Logistics Asia 2006 will give delegates the
opportunity to find out what's what and who's who in China.
Furthermore, the conference will provide carmakers,
suppliers and LSPs with the opportunity to meet future
business partners targeting the region, and to tackle the
logistics issues of this dynamic automotive region.
The programme starts on 14 May with a pre-conference
cocktail reception in the exclusive Niche bar on the second
floor of The Westin Shanghai hotel.
The first conference day on 15 May will not only cover
the development of the automotive logistics network
throughout China but also implications of shipping goods to
and from the country. Another sector that will be examined
is finished vehicle logistics. Automotive Logistics Asia
2006 will include the renowned Finished Vehicle Logistics
forum. Carmakers and logistics service providers will
discuss the specific challenges and opportunities that
exist in Asia, with particular, but not exclusive, emphasis
on China.
The day ends with a drinks reception and a stylish
dinner cruise on the River Huangpu. Delegates can enjoy the
dramatic skyline of Shanghai at night, enjoy superb cuisine
and network with other delegates.
Sessions on the second conference day will address
packaging solutions, service parts logistics and the
supplier's supply chain, including its management.
The conference is supported by GEFCO and Sinotrans as
gold sponsors, Air France Cargo/KLM Cargo, Linpac Materials
Handling, UPS and APL Logistics as silver sponsors and
Automotive Production China as media supporter.
Further information can be found at:
http://www.automotivelogisticsasia.com
For more information, please contact:
Jeanine Leuckel, Marketing Manager,
Ultima Media Ltd
Email: Jeanine.Leuckel@Ultimamedia.org
SOURCE Automotive Logistics Asia
2007'02.01.Thu
The China Rally Championship 2006 Launched in Jinshan District, Shanghai
March 30, 2006
SHANGHAI, China, March 30 /Xinhua-PRNewswire/ --
Shanghai Jinshan District Government announces that the
"Volkswagen Cup" Shanghai Jinshan Rally
Championship, as part of the China Rally Championship
(CRC), was held between March 24-26 in Jinshan District,
with a grand opening ceremony on the afternoon of March 24.
The opening ceremony was held at the beautiful Jinshan
seashore, adjacent to Hangzhou Bay. Officials from the
Motorcycle Center of the General Administration of Sports,
the Shanghai Sports Bureau and Jinshan District waved flags
as a signal for drivers to start their engines. With the
roaring sound of the engines, 75 racing cars drove out of
the starting platform and the drivers waved at and greeted
spectators.
The China Rally Championship (CRC) is the highest level
of domestic car rally racing to be organized by the
Federation of Automobile Sports of China since 2000. The
entire length of the race is 436.01 kilometers.
The event was organized by the Federation of Automobile
Sports of China, the Shanghai Sports Bureau and the Jinshan
District Government of Shanghai. It was Jinshan's first
time to host a CRC sub-race. Delivery of such a grand
sports event is of great significance to showcase Jinshan's
image, advance its reputation, promote its economic
development and for accumulating more experience in hosting
large sporting events.
About Jinshan District
Jinshan, one of the 19 districts (counties) of
Shanghai, is located in the southwest of the city, north of
the Hangzhou Bay and west of Zhejiang Province. It is
situated at the hub of the economic region linking
Shanghai, Hangzhou and Ningbo, and is inside the geographic
ring of the Yangtze River Delta that is only a two hours
drive away.
Jinshan District has a total land area of 586 square
kilometers (about 226 square miles), equivalent to that of
Singapore, and a population of 550,000. It has rich
natural and cultural heritages, including beautiful beach
lines, famous traditional peasant paintings, black ceramic
arts and crafts, and a world-renowned petrochemical base.
For more information, please contact:
Wang Ren of Shanghai Jinshan District Government
Tel: +86-21-5792-1325
Fax: +86-21-5792-1100
Email: jsqzhk@sohu.com
SOURCE General Office of the People's Government of
Jinshan
2007'02.01.Thu
Corning Announces $15 Million Investment to Expand Emissions-Control Manufacturing Plant in China
March 30, 2006
Company Cites Growing Global Demand for Clean-air Products for Passenger Cars
CORNING, N.Y., March 30 /Xinhua-PRNewswire/ -- Corning
Incorporated (NYSE: GLW) announced today that its board of
directors recently approved a capital expenditure of
approximately $15 million to expand the manufacturing
capabilities for clean-air products at Corning Shanghai
Company, Ltd. (CSCL) in Shanghai, China.
This investment will increase the manufacturing
capability of the facility to meet anticipated demand for
Corning advanced ceramic substrates for light-duty vehicle
applications. Corning advanced ceramic substrates include
thin-wall products that deliver higher performance for
emission reductions. The expansion is expected to be fully
operational by mid-2007.
"The tightening of emissions standards in Asia and
around the world continues to drive demand for Corning
clean-air products," said Thomas Appelt, vice
president and general manager, Corning Automotive
Technologies. "Through the expansion of our facility
in China, we will be better able to supply clean-air
products to our global customers, while still maintaining a
strong presence in China."
"Corning is proud of its long history in
China," said Curt Weinstein, general manager, CSCL.
"We value our highly skilled, dedicated employees and
the many relationships we have developed over the years.
This additional investment in the facility is further proof
of our commitment to the region."
In China, demand for cleaner vehicles is being driven
by the Euro III and upcoming Euro IV regulations that will
require lower emissions. Tighter global regulations, along
with growth in the China economy, make China an attractive
market for Corning.
CSCL, which is wholly owned by Corning Incorporated, is
a state-of-the-art, high-tech emissions control substrate
facility, that first began shipping product in early 2001.
In addition to manufacturing advanced substrates, CSCL also
includes sales, marketing and engineering operations that
provide world-class service for Corning customers in China
and throughout Asia.
Corning is a leading supplier of advanced catalytic
converter substrates and particulate filters, supplying all
of the world's major manufacturers of gasoline and diesel
engines and vehicles. The company invented an economical,
high-performance cellular ceramic substrate in the early
1970s that is now the standard for catalytic converters
worldwide. Corning also developed the cellular ceramic
particulate filter to remove soot from diesel engine
emissions in 1978.
About Corning Incorporated
Corning Incorporated ( http://www.corning.com ) is a
diversified technology company that concentrates its
efforts on high-impact growth opportunities. Corning
combines its expertise in specialty glass, ceramic
materials, polymers and the manipulation of the properties
of light, with strong process and manufacturing
capabilities to develop, engineer and commercialize
significant innovative products for the telecommunications,
flat panel display, environmental, semiconductor, and life
sciences industries.
Forward-Looking and Cautionary Statements
This press release contains forward-looking statements
that involve a variety of business risks and other
uncertainties that could cause actual results to differ
materially. These risks and uncertainties include the
possibility of changes or fluctuations in global economic
and political conditions; tariffs, import duties and
currency fluctuations; product demand and industry
capacity; competitive products and pricing; manufacturing
efficiencies; cost reductions; availability and costs of
critical components and materials; new product development
and commercialization; order activity and demand from major
customers; capital spending by larger customers in the
liquid crystal display industry and other businesses;
changes in the mix of sales between premium and non-premium
products; facility expansions and new plant start-up costs;
possible disruption in commercial activities due to
terrorist activity, armed conflict, political instability
or major health concerns; ability to obtain financing and
capital on commercially reasonable terms; adequacy and
availability of insurance; capital resource and cash flow
activities; capital spending; equity company activities;
interest costs; acquisition and divestiture activities; the
level of excess or obsolete inventory; the rate of
technology change; the ability to enforce patents; product
and components performance issues; changes in key
personnel; stock price fluctuations; and adverse litigation
or regulatory developments. These and other risk factors
are identified in Corning's filings with the Securities and
Exchange Commission. Forward-looking statements speak only
as of the day that they are made, and Corning undertakes no
obligation to update them in light of new information or
future events.
For more information, please contact:
Media Relations Contacts:
Lydia Lu
Tel: +86-21-5467-4666 x1900
Email: lulr@corning.com
Lisa A. Burns
Tel: +1-607-974-4897
Email: burnsla@corning.com
Investor Relations Contact:
Kenneth C. Sofio
Tel: +1-607-974-7705
Email: sofiokc@corning.com
SOURCE Corning Incorporated
2007'02.01.Thu
Paragon Wireless Enables Manufacturers to Quickly Deliver Innovative
March 30, 2006
VoWLAN Features on Texas Instruments Residential Gateway Solutions
BEIJING, March 30 /Xinhua-PRNewswire/ -- Paragon
Wireless, a fast-growing, privately held IP-based broadband
wireless equipment company, today announced it will enable
manufacturers to deliver high-performance VoWLAN
residential gateway solutions as a member of the Texas
Instruments Incorporated (TI) [NYSE: TXN] DSP Third Party
Network.
As a member of TI's partner network, Paragon will add
innovative functionality to TI's AR7VW platform, including
soft PBX switching, voice-mail services and peer-to-peer
VoIP calling. Paragon has pending patents solving such
critical challenges in VoWLAN systems as talk time, handoff
latency, voice quality and SIP testing. In addition, Paragon
has developed a unique, scalable system and software
architecture that allows the company to add or remove
terminal functions easily to address different market
segments without costly hardware redesign.
"Future wireless communication systems, whether
they are cellular systems such as Super 3G and 4G or
nomadic systems such as Wi-Fi and WiMAX, will be IP-based,
and the final winner will be end users, who will enjoy a
better, less expensive and more convenient service,"
said Gang Wu, Paragon's founder and CEO. "Paragon's
software and integration expertise enables manufacturers to
deliver two of the hottest technology markets on the planet
-- wireless and VoIP -- in a single, comprehensive
solution."
"TI's third party network provides our customers
access to the software and systems expertise provided by
leading companies in their respective markets," said
Ben Sheppard, Customer and Partner Marketing Manager for
TI's Residential Gateway and Embedded Systems Group.
"Paragon has demonstrated exceptional software and
VoIP capabilities to enable our customers to quickly
differentiate their products and deliver new, innovative
services over their residential gateway."
Paragon designs and develops standards-compliant VoWLAN
equipment, including handsets and access points. For
example, the ParaAP, Paragon's AP product, integrates DSL
(ADSL2+), a WLAN AP (802.11g), a router, VoIP (SIP), and
IP-PBX together into one box for cost and space savings, as
well as useful features, such as voice mail.
For OEMs developing broadband communications solutions,
TI's advanced signal processing-based silicon and software
platforms deliver the optimal performance, lower power
consumption, and system-level integration required to
rapidly deploy differentiated next-generation products for
cable modems, digital subscriber line (xDSL) modems,
integrated access devices (IADs), VoIP gateways, carrier
infrastructure, and home and office wireless networking.
See http://www.ti.com/broadband .
About Paragon Wireless
Paragon Wireless is a fast-growing, privately held
IP-based broadband wireless equipment company founded in
October 2004. Led by a management team with extensive
experience in management, business development, research
and product development, Paragon designs and develops
standards-compliant VoWLAN equipment, including handsets
and access points. Paragon has a hybrid business model
that takes advantage of both licensing and OEM/ODM models
and has established the best customers and partners
worldwide.
About Texas Instruments
Texas Instruments Incorporated provides innovative DSP
and analog technologies to meet our customers' real world
signal processing requirements. In addition to
Semiconductor, the company's businesses include Sensors
& Controls, and Educational & Productivity
Solutions. TI is headquartered in Dallas, Texas, and has
manufacturing, design or sales operations in more than 25
countries.
Texas Instruments is traded on the New York Stock
Exchange under the symbol TXN. More information is located
on the World Wide Web at http://www.ti.com .
Trademarks
Telogy Software is a trademark of Texas Instruments.
All other trademarks and registered trademarks are the
property of their respective owners.
For more information, please contact:
Media Contacts:
Penni Chaloux,
Texas Instruments
Tel: +1-214-567-6967
Email: pchaloux@ti.com
Ilkka Pouttu,
Paragon Wireless
Tel: +1-972-523-2220
Email: ilkka@parawireless.com
SOURCE Texas Instruments Incorporated
2007'02.01.Thu
Aplix Deployed JBlend(TM) in Samsung's Mobile Phones for Japan Market
March 30, 2006
TOKYO, March 30 /Xinhua-PRNewswire/ -- Aplix
Corporation (TSE: 3727), the global leader in deploying
Java(TM) technology in mobile phones, announced today that
its JBlend(TM) Java platform has been deployed in Vodafone
K.K.'s Vodafone 804SS by Samsung.
The Vodafone 804SS is the world's thinnest* clamshell
3G handset, measuring just 14.9mm and weighing only 98g,
making it Vodafone K.K.'s lightest 3G model**. By
incorporating the JBlend platform and extended porting
layer, along with consultancy and integration services
provided by Aplix, Samsung was able to fulfill the
comprehensive 3G Java specifications required by Japanese
operators like Vodafone K.K.
* Among clamshell 3G handsets as of 23 March 2006
(according to Samsung
Electronics).
** As of 23 March 2006 (according to Vodafone K.K.).
The JBlend software deployed in the Vodafone 804SS
includes Connected Limited Device Configuration (CLDC) 1.1
[JSR-139], the Mobile Information Device Profile (MIDP) 2.0
[JSR-118], and some Vodafone K.K. market-specific Java
requirements, which include 2D sprite and 3D graphics Java
Class Library originated from JSCL (JPhone Specific Class
Library).
The incorporation of Aplix's JBlend technology enables
a variety of compelling content for mobile phone users to
enjoy, including games and multimedia applications.
As the first-to-market enabler, Aplix has been trusted
by global operators and handset manufacturers to fulfill
their desired Java specifications. The JBlend platform has
already been deployed on over 170 million mobile devices
around the world. Aplix continues its innovative efforts
to contribute to the development of consumer products that
are even more appealing and easier to use than those we
have today.
About Aplix Corporation
Aplix Corporation is the global leader in deploying
Java technology in mobile phones. Aplix was first
established in 1986 and has been a Sun Java licensee since
1996. Aplix was publicly listed on the Tokyo Stock
Exchange (Mothers) in 2003. On August 24, 2004 Aplix and
the Taiwan based company iaSolution finalized the
integration of the corporations.
Headquarters: Tokyo
Regional offices: San Francisco, Munich, Taipei,
Shanghai, Beijing,
and Korea (in progress)
For more information, please visit:
http://www.aplixcorp.com and http://www.iasolution.net .
About the JBlend Platform
The JBlend platform is the de facto solution for
running Java applications and services in consumer
electronics devices, including mobile phones. The platform
has been licensed by over 50 companies as of December 2005.
JBlend technology:
-- Sets the pace by maintaining market leadership
through innovation.
-- Has proven results, enabling first-to-market
deliveries for our
customers.
-- Over 170 million mobile phones and consumer
electronics devices
have been shipped with JBlend as of December 2005.
-- JBlend and all related trademarks thereto are
trademarks or
registered trademarks of Aplix Corporation in Japan
and other
countries.
-- Java and all other Java-based marks are trademarks
or registered
trademarks of Sun Microsystems, Inc. in the United
States and other
countries.
-- All other product or service names are the property
of their
respective owners.
For more information, please contact:
Akiko Sharp Doi,
Aplix Corporation
Tel: +1-415-558-8800
Email: pr@aplixcorp.com
Web: http://www.aplixcorp.com
SOURCE Aplix Corporation
2007'02.01.Thu
Top Global Companies Join With WBCSD to Make Energy Self-Sufficient Buildings a Reality
March 29, 2006
GENEVA, March 29 /Xinhua-PRNewswire/ -- The World
Business Council for Sustainable Development announced
today that it is forming an alliance of leading global
companies to determine how buildings can be designed and
constructed so that they use no energy from external power
grids, are carbon neutral, and can be built and operated at
fair market values.
The industry effort is led by United Technologies Corp.
(NYSE: UTX), the world's largest supplier of capital goods
including elevators, cooling/heating and on-site power
systems to the commercial building industry, and Lafarge
Group (NYSE: LR, Euronext: LG), the world leader in
building materials including cement, concrete, aggregates,
gypsum and roofing. The WBCSD and the two lead companies
are in discussions with many other leading global companies
that are expected to join the project and will be announced
shortly.
Buildings today account for 40 percent of energy
consumption in developed countries according to the OECD.
The effort announced today for transforming the way
buildings are conceived, constructed, operated and
dismantled has ambitious targets: By 2050 new buildings
will consume zero net energy from external power supplies
and produce zero net carbon dioxide emissions while being
economically viable to construct and operate.
Constructing buildings that use no net energy from
power grids will require a combination of onsite power
generation and ultra-efficient building materials and
equipment.
The project will comprise three phases, each producing
reports that together will form a roadmap to transform the
building industry. The first report will document existing
green building successes and setbacks, the second will
identify the full range of present and future
opportunities, and the third will present a unified
industry strategy for realizing those opportunities by
2050, specifically in China, India, Brazil, the U.S. and
the E.U.
Each report will take one year to complete and involve
hearings and conferences with building contractors and
suppliers, sustainability experts, government
representatives, regulators, utility officials and others.
"Green" buildings already are erected in
various parts of the world but current cost structure
prevents widespread adoption by general contractors. The
project will build on these examples, aligning costs and
benefits in the building equation and by working in close
collaboration with architects, builders, suppliers and
building owners to promote a more sustainable approach to
construction. Existing standards for energy efficiency in
buildings will be the starting point for the industry-led
alliance.
"Lafarge has been leading efforts in energy
efficiency and sustainable construction in the building
materials sector for a number of years, not only by
reducing greenhouse gas emissions during the production
process but also by developing materials that contribute to
making buildings more energy efficient," said Bertrand
Collomb, Chairman of Lafarge.
"In this context, Lafarge has been collaborating
with leading architects to promote sustainable construction
as illustrated by our partnership with French Architect
Jacques Ferrier, which led to the development of the
'Hypergreen' concept: This multi-use tower building,
designed for the world's mega-cities, is highly energy
self-sufficient thanks to the use of the latest
construction methods and technologies."
"Buildings of tomorrow should be self-sufficient
in energy and have carbon neutral emissions," said Jan
van Dokkum, president of UTC Power, a United Technologies
company.
"This can be done by incorporating renewable
energy sources into a building's design, optimizing energy
efficiency of support systems, and taking advantage of
geographic and culturally acceptable building practices.
Additionally, this aim is enhanced by using the 'cradle to
cradle' concept of producing, using and later re-using
building materials. This vision of energy and carbon
neutral designs is a necessary evolution we need to embrace
to achieve sustainability for buildings."
Bjorn Stigson, President of the WBCSD noted that
"being smarter and more efficient about how we use
energy in buildings will help us conserve energy, reduce
greenhouse gas emissions and address climate change. We
believe this initiative can provide extremely
cost-effective solutions. It will also set the course for
self-sufficient and environmentally sound buildings in
which future generations will live, work and be
entertained. Our partners are industry leaders with
technological expertise and presence that no single
existing organization or government could provide on its
own."
The World Business Council for Sustainable Development,
based in Geneva, is a coalition of some 190 international
companies united by a shared commitment to sustainable
development via the three pillars of economic growth,
ecological balance and social progress. Its members are
drawn from more than 35 countries and 20 major industrial
sectors.
United Technologies Corp., based in Hartford, Conn.,
USA, is a Dow Jones Industrial company that reported $43
billion in 2005 revenues. UTC employs approximately 220,000
people worldwide and provides high technology products and
services to the building and aerospace industries. It has
been recognized as Fortune magazine's "Most
Admired" aerospace company for six consecutive years
based on criteria including social responsibility and
innovation. The company is listed on the Dow Jones
Sustainability Indexes and was one of 20 U.S.-based
companies to be listed on the 2006 "100 Global Most
Sustainable Corporations in the World."
Lafarge, headquartered in Paris, is the world leader in
building materials and holds top-ranking positions in all
four of its businesses: Cement, Aggregates & Concrete,
Roofing and Gypsum. The company employs 80,000 people in 75
countries and posted sales of euro 16 billion in 2005.
Lafarge has been committed to sustainable development for
many years believing that long-term value is best created
when considering the interests of the community and
environment in which it operates. This strategy reflects
the Group's core values and combines industrial know-how,
performance, value creation, respect for employees and
local cultures, environmental protection and the
conservation of natural resources and energy. It is the
only construction materials company to be listed on the
2006 "100 Global Most Sustainable Corporations in the
World."
For more information, please contact:
WBCSD, Josephine Chennell
Tel: +41-79-346-52-03
Email: chennell@wbcsd.org
United Technologies, Paul Jackson
Tel: +1-860-728-7912
Lafarge, Louisa Pearce-Smith
Tel: +33-1-44-34-18-18
Email: louisa.pearce-smith@lafarge.com
SOURCE World Business Council for Sustainable Development
2007'02.01.Thu
Xinhua Far East Downgrades Haixin to BBB+ Credit Rating, Rating Outlook Remains Stable
March 29, 2006
HONG KONG, March 29 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded the domestic currency
issuer credit rating of Shanghai Haixin Group Co., Ltd.
("Haixin" or "the Company", SH A
600851, B 900917) to BBB+ from A-. The rating outlook
remains stable.
The rating action was prompted by Xinhua Far East's
concerns over the competitive nature of China's export
plush industry as well as high prices for upstream
petrochemical products£¬mounting pressures from increasing
overheads and the possibility of further RMB appreciation.
The rating also incorporates the risks incurred as the
Company tries to explore more value-added garment business
lines.
Xinhua Far East notes that most Chinese companies are
at the low end of the textile industry value chain, mainly
providing raw materials, semi-finished products and, at
best, OEM. These players are facing squeezing margins as
overheads in China continue to rise as a result of economic
development and the upward pressure on the foreign exchange
rate.
Margins in the plush industry are also negatively
impacted by high petrochemical product prices. As a result,
Haixin's gross margin fell to 19.5 pct in 2005, compared
with 22.9 pct in 2004. EBIT margins for the Company fell to
7.2 pct last year from 10.5 pct in 2004.
In order to counteract competition and thinning
margins, the Company set up its strategy to raise its
position in the value chain. Although such plans represent
a necessary evolution for the Company, the uncertainties of
such a migration are substantial, as it requires increased
investment and more managerial talent to build a successful
brand.
With its expansion in the garment business, Haixin's
requirement for working capital is increasing, thus pushing
up the Company's debt level. At the end of 3Q05, the
Company's gross debt to total capital increased to 33.2%,
the highest level seen over the past six years.
Nevertheless, the Company's leading position in the
plush industry, its relatively conservative financial
policy and abundant cash reserves of RMB 642.2 million as
of end-3Q05 have provided a cushion for solvency in the
medium term. Furthermore, the Company was awarded a
license to produce products related to "Fuwa"
(the five Beijing Olympic Mascots), which provides the
Company with an opportunity to boost revenues and improve
profit margins.
Haixin is a leader in China's plush industry. In the
first three quarters of 2005, Haixin realized turnover of
RMB1.52 billion. At the end of June 2005, Shanghai
Songjiang Dongjing Industrial Company was Haixin's largest
shareholder, with a 12.44% stake in the Company. Hong Kong
Shen Hai Company followed with an 11.81% stake.
Haixin is a mid cap company constituting the
Xinhua/FTSE China 200 and B35 Indices. As of March 28,
2006, its total A-share market cap equaled RMB2.1 billion,
with investable market cap of RMB1.1 billion. Its B-share
market cap totaled USD74 million, USD55 million of which is
investable.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
About Xinhua FTSE China 200 Index
Xinhua FTSE China 200 Index is the large cap index in
the Xinhua FTSE China A Share Index Series and includes the
top 200 companies in China by market cap. It is designed as
a tradable index and is calculated in real-time every 15
seconds. For daily data and further information, see
http://www.xinhuaftse.com .
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became a
Xinhua Finance partner company in 2003 and the first China
member of The Association of Credit Rating Agencies in Asia
in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market. For more
information, see http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 21 news bureaus
and offices in 18 locations across Asia, Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion. For more information, see
http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang, Corporate & Investor Communications
Director,
Xinhua Finance
Tel: +852-3196-3983, +86-21-6113-5999, or
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
David Leeney,
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
China to be Officially Designated Free of Lymphatic Filariasis
March 29, 2006
SUVA, Fiji, March 29 /Xinhua-PRNewswire/ -- China is
slated to be officially declared free of the debilitating
disease lymphatic filariasis, 15 years ahead of the global
elimination target of 2020.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20040610/CNTH001LOGO )
China submitted today its application for verification
of the elimination of the transmission of the disease to
the World Health Organization at the meeting in Suva, Fiji,
of the Global Alliance to Eliminate Lymphatic Filariasis.
China is the first country in the world to eliminate one of
the most debilitating and disfiguring diseases, and the
first ever to eliminate a parasitic disease.
Following China, the Republic of Korea is expected to
be the second country to achieve elimination of the
disease. Final compiling of data is underway, prior to the
submission of an application by the Korean Government to WHO
for verification of elimination.
"The success of China and soon that of the
Republic of Korea are proof that elimination of lymphatic
filariasis is possible if given the necessary levels of
political support, adequate funding and public
commitment," said Dr Shigeru Omi, WHO Regional
Director for the Western Pacific, speaking in Fiji.
In the Pacific, communities are working towards the
goal of elimination with 2010 as the target-10 years ahead
of the global mark. If that target is achieved, the
Pacific, covering 17 countries and areas, will be the first
subregion in the world to eliminate lymphatic filariasis.
Other countries in the Western Pacific Region --
Cambodia, Malaysia, the Philippines and Viet Nam -- have
active programmes of mass drug administration that should
enable them to reach the global elimination goal. However,
the lack of adequate funding is one of major obstacles
facing most countries engaged in filariasis elimination.
The disease, which causes severe and debilitating
swelling, particularly of the limbs, is caused by filarial
parasites. The parasites are transmitted to humans by
mosquitoes. The adult parasites lodge in the lymphatic
vessels where they cause inflammation, blocking the
vessels. This blocks drainage of fluid from the limb,
causing massive swelling which is usually progressive and
permanent. However, both chronic disease and transmission
can be prevented if infection is treated early.
About 1.1 billion people are at risk of infection, with
an estimated 120 million people infected, the majority of
which are in Asia and the Pacific.
For more information, please contact:
Dr Kevin Palmer, Regional Adviser in Malaria,
Vectorborne and Other Parasitic Diseases
Tel: +63-2-528-9725
Email: palmerk@wpro.who.int
SOURCE World Health Organization
2007'02.01.Thu
Xinhua Far East Downgrades Youngor Group to BBB Credit Rating, Outlook Remains Stable
March 29, 2006
HONG KONG, March 29 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded the domestic issuer
credit rating of Youngor Group Co., Ltd.
("Youngor" or "the Company", SH A
600177) from A- to BBB. The rating outlook remains
stable.
The downgrade reflects Xinhua Far East's concerns over
the slow growth of the Company's garment business,
traditionally its main sector, and the increasing
operational risks brought about by its real estate
operations. Moreover, sharply rising debt levels have
stretched the Company's financial flexibility. This is
expected to continue as the Company expands its
distribution channels in the garment sector and continues
its real estate operations.
Xinhua Far East attributes the slow growth of the
Company's garment business to the competitive nature of the
industry, both domestically and internationally. The
Company's market position in China faces greater pressure
as more Chinese firms and foreign brands enter the market.
Youngor's overseas sales have also been negatively affected
by the unfavorable textile trading environment and RMB
appreciation pressures.
Youngor's garment business is likely to encounter
long-term pressures despite recording a growth rate of
12.5% in 2005, compared with less than 3% in 2003 and
2004.
The Company's expansion into the real estate sector
inevitably brings more operating risks due to the cyclical
nature of the industry. Real estate now accounts for a
considerable part of the Company's business, contributing
to 28.8% of total turnover and 32.9% of gross profits in
2005.
Xinhua Far East is also concerned about Youngor's
rising financial leverage resulting from the large capital
expenditure involved in its business expansion. The
Company's gross debt and net debt increased almost
threefold from RMB 1.1 billion and RMB 0.9 billion at the
end of 2002 to RMB 4.1 billion and RMB 3.4 billion at
year-end 2005. The Company's gross debt to total capital
ratio reached 48.3% at the end of 2005. Most of the debt
was short-term in nature.
On the other hand, Xinhua Far East believes the
Company's rating outlook is stable, as its garment business
can still provide relatively consistent revenues and
profits, while it has gained some experience in the real
estate sector.
Youngor Group Co., Ltd. is one of China's leading
garment manufacturers. In fiscal year 2005, the Company
realized a turnover of RMB4.6 billion. At the end of 2005,
Ningbo Shengda Development Co was Youngor's largest
shareholder, with a 26.13% stake.
Youngor is a large cap company constituting the
Xinhua/FTSE China 200 Index. As of March 28, 2006, its
total A-share market cap equaled RMB 6.5 billion, with
investable market cap of RMB 2.6 billion.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
About Xinhua FTSE China 200 Index
Xinhua FTSE China 200 Index is the large cap index in
the Xinhua FTSE China A Share Index Series and includes the
top 200 companies in China by market cap. It is designed as
a tradable index and is calculated in real-time every 15
seconds. For daily data and further information, see
http://www.xinhuaftse.com .
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became a
Xinhua Finance partner company in 2003 and the first China
member of The Association of Credit Rating Agencies in Asia
in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market. For more
information, see http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 21 news bureaus
and offices in 18 locations across Asia, Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion. For more information, see
http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang, Corporate & Investor Communications
Director,
Xinhua Finance
Tel: +852-3196-3983, +86-21-6113-5999, or
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
David Leeney,
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
TOM Online and Titan Sports Join Forces on FIFA World Cup Coverage
March 29, 2006
Exclusive Cooperation to Deliver Sports as Another Major Mobile Media Application
BEIJING, March 29 /Xinhua-PRNewswire/ -- TOM Online Inc. (Nasdaq: TOMO; Hong Kong GEM: 8282), China's leading wireless Internet company, today announced its exclusive cooperation with Titan Sports Weekly, the country's top-selling sports newspaper, to provide joint coverage on this year's FIFA World Cup in addition to a range of other long-term initiatives, including the launch of a new sports channel, http://titan.tom.com , on its portal http://www.tom.com . In line with TOM Online's strategy to form unique alliances with key media organizations to broaden its reach to Chinese consumers and share revenue with partners, the strategic cooperation with Titan Sports includes the integration of sports content, wireless Internet technologies and marketing resources to deliver a more compelling sports experience to Chinese consumers. Wang Lei Lei, Chief Executive Officer and an Executive Director of TOM Online, said: "I believe that this cooperation between Titan Sports and TOM Online's forms an integral part of our long-term strategy to provide unparalleled sports content and applications to Chinese consumers, which can be delivered through both mobile devices and the PC, helping to differentiate our services from our competitors and fulfill the growing needs of sports fans in China." Qu Youyuan, President of Titan Sports said: "I'm very excited about this closer relationship between the two companies. Titan Sports and TOM Online have a successful history of working together on major events such as the Athens Olympic Games and UEFA soccer matches. As an official media organization in China for this year's soccer World Cup, Titan Sports is committed to providing soccer fans with the most in-depth, extensive and up-to-date reports on the field, particularly through its online coverage with TOM Online on titan.tom.com." Titan Sports is China's largest sports newspaper with a weekly circulation of over 4 million. As a part of the exclusive cooperation arrangement, Titan Sports will provide first hand stories, pictures and audio-visual material to TOM Online for online and wireless Internet users. In addition to the alliance with Titan Sports, TOM Online also is an exclusive wireless Internet services partner with China's most-watched sports TV channel CCTV5, which holds exclusive rights to broadcast World Cup matches in China. About TOM Online Inc. TOM Online Inc. (Nasdaq: TOMO; Hong Kong GEM stock code: 8282) is a leading mobile internet company in China, operating one of the most successful Internet portals in China ( http://www.tom.com ) and offering a wide variety of online and mobile services, including wireless internet and online advertising. In the wireless internet arena, TOM Online provides a diverse range of services such as SMS, MMS and WAP, and is the largest player of wireless internet voice business. As at December 31, 2005, TOM Online is the only portal in China that enjoyed a top three ranking in every wireless internet service segment. Forward Looking Statement The press release of TOM Online Inc. (the "Company") contains statements that may be viewed as "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. Such forward-looking statements are, by their nature, subject to significant risks and uncertainties that may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Such forward-looking statements include, without limitation, statements that are not historical fact relating to the financial performance and business operations of the Company, the continued growth of the telecommunications industry in China, the expected benefit of any strategic alliances with other companies and our ability to cooperate with our alliance partners, the development of the regulatory environment and the Company's latest product offerings, and the Company's ability to successfully execute its business strategies and plans, including its ability to expand its market share and revenue through strategic alliances. Such forward-looking statements reflect the current views of the Company with respect to future events and are not a guarantee of future performance. Actual results may differ materially from information contained in the forward-looking statements as a result of a number of factors, including, without limitation, any changes in our relationships with telecommunication operators in China, the effect of competition on the demand for the price of our services, changes in customer demand and usage preference for our products and services, changes in the regulatory policies of the Ministry of Information Industry and other relevant government authorities, any changes in telecommunications and related technology and applications based on such technology, and changes in political, economic, legal and social conditions in China, including the Chinese government's policies with respect to economic growth, foreign exchange, foreign investment and entry by foreign companies into China's telecommunications market. Please also see the "Item 3 - Key Information - Risk Factors" section of the Company's Annual Report for the Fiscal Year ended December 31, 2004 on Form 20-F (File No. 000-50631), as filed with the Securities and Exchange Commission. For more information, please contact: Rico Ngai TOM Online Inc. Tel: +86-10-6528-3399 x6940 Mobile: +86-139-118-95354 Skype: ricoinrio SOURCE TOM Online Inc.
2007'02.01.Thu
UNDP Joins Hands with Multinational Company Partnering for Sustainable Development
March 29, 2006
UNDP Teams up with Stora Enso to Promote Sustainable Development and Social Welfare in Local Communities in Guangxi
NANNING, Guangxi, China, March 29 /Xinhua-PRNewswire/
-- To strengthen Public-Private Partnerships and promote
the contributions of the private sector to sustainable
development in China, a Memorandum of Understanding (MOU)
was signed today in Nanning, Guangxi between the United
Nations Development Programme (UNDP) and Stora Enso, a
multinational company of paper products.
Through the MoU, a framework of cooperation (2006-2010)
will be established between UNDP and Stora Enso, focusing on
promoting sustainable development in local communities in
the following areas: conservation of biodiversity in
Guangxi, social engagement through rural communication and
information centers, and improving community social
well-being in areas of health, safe water, hygiene
practice, basic education and skills development.
This initiative is an immediate follow-up of an
Environmental and Social Impact Assessment (ESIA) conducted
by UNDP on Stora Enso's forest plantation project in Guangxi
Zhuang Autonomous Region. A multi-stakeholder dialogue was
also held following the signing in which the methodology,
process and key findings of the ESIA were presented to the
representatives from the local government, academic and
local community.
"UNDP's decision to undertake this ESIA was based
on our previous experience in ESIA analyses and on our
poverty alleviation and environmental experience in China
during the past 26 years," said Renaud Meyer, UNDP
Deputy Resident Representative in China. "We would
like to use this opportunity to demonstrate the potential
of these ESIAs to promote sustainable development and the
importance of public and private partnerships to China's
development."
He noted that environmental and social impact
assessments are still relatively new in China. "We
hope that the ESIA will prompt interest from other large
scale commercial and public projects and serve as a model
for similar ESIAs to be conducted in other places in the
country."
The ESIA report does not highlight any major social and
environmental `show-stoppers' but identifies issues in the
social dimension of the Stora Enso project while the
potential environmental impacts relate to plantation
operations and therefore could be mitigated through good
management. Top priorities in the social area include the
need for Stora Enso to intensify communication with local
communities (potentially 100,000 households in land leasing
alone) to ensure that information reaches all levels of
affected communities effectively and transparently.
Meyer emphasized that community-oriented investments
are crucially important to create local employment and
wealth, while sustaining the environment. "UNDP hopes
the ESIA and the MOU can help Stora Enso make a positive
contribution to the expanding estate of commercial
plantations in China and offer a benchmark for operational
best practices for large-scale investment projects. It may
also play a role in Chinese Government's goal of
establishing criteria for "Green GDP," a
development concept strengthening effective biodiversity
management, and mainstreaming biodiversity in the planning
and investment process," he said.
For more information, please contact:
Zhang Wei
United Nations Development Programme (UNDP)
Tel: +86-10-6532-3731 ext.228
Fax: +86-10-6532-2567
Email: wei.zhang@undp.org
SOURCE United Nations Development Programme (UNDP)
2007'02.01.Thu
Stora Enso to Sign an Agreement for Co-Operation with UNDP China
March 29, 2006
SHANGHAI, China, March 29 /Xinhua-PRNewswire/ -- Stora
Enso has today signed a memorandum of understanding with
the United Nations Development Programme (UNDP) to address
the key findings of the environmental and social impact
assessment of Stora Enso's plantations in Guangxi Province,
China. During a five-year period, Stora Enso and UNDP will
co-operate to conserve biodiversity in Guangxi and to
improve community well-being. The results of the
environmental and social impact assessment, which is not
yet a common practice for plantation projects in China,
were also publicised at the signing ceremony.
According to the results of the study, there are no
major environmental or social issues that could jeopardise
Stora Enso's plantation project in Guangxi. Environmental
impacts identified in the study will be managed with Stora
Enso's good plantation management practices. In the social
dimension, Stora Enso aims to continue and strengthen the
engagement with local landholders and communities.
"Based on our experience, we firmly believe that
this type of study has to be carried out in co-operation
with a reliable partner to provide a transparent process
where the results are published and is in line with our
financial goals," commented CFO Hannu Ryopponen,
present at the signing ceremony. "It increases the
credibility of the project and it helps Stora Enso win the
acceptance of stakeholders."
Previous press releases concerning Stora Enso's
plantations in Guangxi Province, China can be found at
http://www.storaenso.com/press .
-- 10 November 2005, Stora Enso strengthens its
presence in Guangxi
-- 10 June 2005, Stora Enso signs loan agreement with
International
Financing Corporation
-- 31 March 2005, UNDP to Assess Environmental and
Social Impact of a
Forestry Investment Project in Guangxi, China
For more information, please contact:
Kari Tuomela, President,
Stora Enso Guangxi Forestry
Tel: +86-771-553-5661
Markku Pentikainen, Executive Vice President,
Stora Enso Asia Pacific
Tel: +86-1376-430-0175
Eija Pitkanen, Vice President,
Sustainability Communications and CSR
Tel: +358-2046-21348
Kari Vainio, Executive Vice President,
Corporate Communications
Tel: +44-7799-348-197
Web: http://www.storaenso.com
http://www.storaenso.com/sustainability
SOURCE Stora Enso Asia Pacific
2007'02.01.Thu
Xinhua Far East Downgrades IMEC to BBB- Credit Rating, Rating Outlook Changes to Negative
March 29, 2006
HONG KONG, March 29 /Xinhua-PRNewswire/ -- Xinhua Far
East China Ratings today downgraded the domestic currency
issuer credit rating of Inner Mongolia Eerduosi Cashmere
Products Co., Ltd. ("IMEC" or "the
Company", SH A 600295, B 900936) from A to BBB-. The
rating outlook has been changed to negative.
The rating changes reflect increasing competition in
the cashmere industry, where processing capacity
significantly outweighs demand. Xinhua Far East notes that
IMEC is still competing at the low-to-medium end of the
global value chain, making it vulnerable to price changes
and sensitive to RMB appreciation. Xinhua Far East also
recognizes that IMEC's large-scale investments increase its
business risks and will require further capital expenditure
and a broadening of managerial expertise.
On the other hand, the rating has taken into
consideration the Company's position as a global leader in
the cashmere industry, its sound relationship with local
government and its established relationship with suppliers.
IMEC's profit margin has been squeezed by increased
competition from the numerous producers of like products,
as well as RMB appreciation. The Company's strategy to
produce more fashionable garments and develop its brand
internationally could help offset competitive and cyclical
pressures. However, the Company still faces uncertainties,
as such a strategy will take time.
In an effort to counter the trend of decreasing profit
margins, IMEC has decided to enter into the utility and
metallurgy businesses, exploring the natural resources of
Inner Mongolia. Its debt level has risen rapidly as a
result. At the end of September 2005, the Company's gross
debt reached RMB3.8 billion, an increase of 32.4% from the
end of 2004. The Company's gross debt to total capital
ratio rose to 53.8% at the end of September 2005.
The rating outlook for IMEC is negative. There is
limited potential for the Company to further expand its
cashmere business due to increasing competition,
constraints in the supply of raw materials and
environmental concerns. The success of IMEC's strategy to
move up the value chain depends on how well it develops its
brand value and competes in the international market.
Furthermore, the Company's investments in power generation
and metallurgy projects require large amounts of capital
expenditure. The returns on the metallurgy investments are
uncertain, given the overcapacity in those markets in which
the Company has invested.
IMEC is a leader in the global cashmere industry.
During the first half of 2005, IMEC realized turnover of
RMB1.84 billion. As of the end of June 2005, Inner Mongolia
Eerduosi Cashmere Group Co., Ltd. was IMEC's largest
shareholder, with a 43.80% stake.
IMEC is a mid-cap company constituting the Xinhua/FTSE
China 200 and B35 Indices. As of March 28, 2006, its total
A-share market cap equaled RMB2.2 billion, with investable
market cap of RMB661million. Its B-share market value
totaled USD133 million, of which all is investable.
For the rating report summary, please visit
http://www.xinhuafinance.com/creditrating .
Note to Editors:
About Xinhua FTSE China 200 and B35 Indices
Xinhua FTSE China 200 Index is the large cap index in
the Xinhua FTSE China A Share Index Series and includes the
top 200 companies in China by market cap. It is designed as
a tradable index and is calculated in real-time every 15
seconds. Xinhua FTSE China B 35 Index is the large cap
tradable index in the FTSE Xinhua China B Index Series,
covering `B' shares listed on the Shanghai and Shenzhen
stock exchanges. It provides international investors with
exposure to the mainland Chinese market. For daily data
and further information, see http://www.xinhuaftse.com .
About Xinhua Far East China Ratings
Xinhua Far East China Ratings (Xinhua Far East) is a
pioneering venture in China that aims to rank credit risks
among corporations in China. It is a strategic alliance
between Xinhua Finance (TSE Mothers: 9399), and Shanghai
Far East Credit Rating Co., Ltd. Shanghai Far East became a
Xinhua Finance partner company in 2003 and the first China
member of The Association of Credit Rating Agencies in Asia
in December 2003.
Capitalizing on the synergy between Xinhua Finance and
Shanghai Far East, Xinhua Far East's rating methodology and
process blend unique local market knowledge with
international rating standards. Xinhua Far East is
committed to provide investors with independent, objective,
timely and forward-looking credit opinions on Chinese
companies. It aims to help investors differentiate the
credit risks among the corporations in China, thereby,
cultivating their awareness and promoting information
disclosures and transparency in China market. For more
information, see http://www.xfn.com/creditrating .
About Xinhua Finance Limited
Xinhua Finance Limited is China's unchallenged leader
in financial information and media, and is listed on the
Mothers board of the Tokyo Stock Exchange (symbol: 9399)
(OTC ADRs: XHFNY). Bridging China's financial markets and
the world, Xinhua Finance serves financial institutions,
corporations and re-distributors through four focused and
complementary service lines: Indices, Ratings, Financial
News and Investor Relations. Founded in November 1999, the
Company is headquartered in Shanghai with 21 news bureaus
and offices in 18 locations across Asia, Australia, North
America and Europe. For more information, please visit
http://www.xinhuafinance.com .
About Shanghai Far East Credit Rating Co., Ltd
Shanghai Far East Credit Rating Co., Ltd. is the first
and leading professional credit rating company with
comprehensive business coverage in China. It is an
independent agency established by the Shanghai Academy of
Social Sciences with the mission to develop internationally
accepted standards for capital market in China. The company
is a pioneer in conducting bond-rating business in China.
For years, it has been authorized by the Shanghai branch of
the PBOC to undertake loan certificate credit rating.
Since establishment, it has rated over 1,000 corporate
long-term bonds and commercial papers, based on the
principles of objectivity, fairness and independence. The
company has also maintained over 50% market share in the
loan certificate-rating sector in Shanghai for three
consecutive years. With its strong local presence and
knowledge, it provides investors with unique and the most
insightful credit opinion. For more information, see
http://www.fareast-cr.com .
For more information, please contact:
Hong Kong
Joy Tsang, Corporate & Investor Communications
Director,
Xinhua Finance
Tel: +852-3196-3983
+86-21-6113-5999
+852-9486-4364
Email: joy.tsang@xinhuafinance.com
US
David Leeney,
Taylor Rafferty (IR/PR Contact in US)
Tel: +1-212-889-4350
Email: david.Leeney@taylor-rafferty.com
SOURCE Xinhua Far East China Ratings
2007'02.01.Thu
Citigroup Private Bank Opens First Office in Mainland China
March 29, 2006
Expects China to be Asia's Largest Wealth Management Market within a Decade
SHANGHAI, China, March 29 /Xinhua-PRNewswire/ --
Citigroup opened its first Private Bank office in mainland
China today at a ceremony at Citigroup Tower attended by
Todd Thomson, Chairman & Chief Executive Officer of
Citigroup Global Wealth Management.
(Photos:
http://xprnnews.xfn.info/Citigroup/CitigroupPhoto1.htm
http://xprnnews.xfn.info/Citigroup/CitigroupPhoto2.htm
http://xprnnews.xfn.info/Citigroup/CitigroupPhoto3.htm )
The Citigroup Private Bank business model, as practised
in the United States and other markets, is centred on a
holistic approach to wealth management for both individuals
and businesses throughout the wealth creation cycle.
The new Shanghai Private Bank office (which will
operate as a unit of Citibank, N.A., Shanghai Branch)
underlines Citigroup's commitment to taking a leadership
position in serving the nascent Chinese wealth management
market, which Citigroup believes could be the largest
wealth management market in Asia (excluding Japan) within a
decade.
Citing China's entrepreneurial culture, high savings
rate and fast-paced modernisation of its banking sector,
Mr. Thomson said: "In 10 years, probably less, we may
be witnessing Asia's single largest market in terms of
investible assets among the high net worth
population."
"This is an investment for the future. Building a
modern banking system has been one of the country's
priorities since the late 1980s. We want to play an active
role in the growth and development of China's wealth
management sector," said Mr. Thomson.
Presently, the office will offer approved foreign
currency products to Chinese and foreign residents and
approved local currency products to foreign residents.
Over time, the product suite will be expanded, as
regulations permit.
Private Investment Banking
Mr. Thomson continued: "We are excited to deliver
the global experience of Citigroup to China's entrepreneurs
and to help develop the nascent wealth management market.
Through the Citigroup Private Bank, these entrepreneurs
will now have a window into the global opportunities,
information and relationships of the world's largest
bank."
"In addition to asset allocation and planning for
their local financial services needs, the Citigroup Private
Bank is uniquely positioned to offer a wide range of advice
to entrepreneurs as they build their businesses for the
future and consider capital needs. We will share with our
clients our knowledge of global capital markets and provide
them networking opportunities with their business industry
counterparts around the world, many of whom are also our
clients. We will also work with these entrepreneurs as
they build their wealth to ensure they protect and grow it
for future generations."
The Citigroup Private Bank has a strong track record in
developing a business from scratch in many emerging markets
across the world. In the Asia-Pacific region, Citigroup
has the largest footprint of the private banks, with
offices in 11 countries including China. It manages nearly
US$60 billion in client's assets. More than 6,000 high net
worth individuals (at least USD10 million in net worth),
including half of Asia (ex-Japan)'s billionaires, count as
clients of The Citigroup Private Bank.
Leveraging the Citigroup franchise in China
It is also anticipated that The Citigroup Private Bank
will establish offices in other Citibank branches in China
with regulatory approval.
"The Citigroup Private Bank already has some
significant competitive advantages in China given the long
history and strong position in the country of its parent
company, Citigroup," said Richard Stanley, Citigroup's
Chief Executive Officer for China.
"There are many opportunities for synergies
between the private bank and our existing operations in
China, and we look forward to the private bank becoming an
integral part of the Citigroup franchise, as we continue to
expand our coverage of financial services in the China
market," Mr. Stanley said.
"Our immediate focus is to organically grow our
wealth management business in China through the local
office and by leveraging the network of Citigroup's
corporate and investment banking and retail banking
franchise," said Deepak Sharma, Chief Executive
Officer of Citigroup Global Wealth Management Asia-Pacific
& Middle East.
"In addition, our new office will provide
Citigroup an opportunity to take a leadership role in
helping to train and develop local wealth management
professionals," he said.
Citigroup's roots in China date back to 1902 with the
establishment of a commercial banking office in Shanghai.
Today, Citigroup's China operation serves a broad base of
customers including multinationals, joint ventures, local
enterprises and residents. Its business by products covers
a wide spectrum of consumer, commercial and merchant banking
activities.
Growing Wealth Market in China
Mr Sharma added: "China is among the fastest
growing economies in the world, and its high net worth
population is expanding in tandem, demanding a more
sophisticated range of financial instruments to help them
meet their wealth management needs and goals."
According to one industry study, China accounted for
US$910 billion in Assets Under Management (AUM) among the
affluent (minimum US$100,000 in net worth) in 2004, of
which US$ 530 billion were held by 'millionaire households'
(with AUM of at least US$1 million). (1)
(1) Boston Consulting Group Global Wealth Report
2005
Another industry report estimates that there are at
least 300,000 millionaires in China. (2)
(2) Merrill Lynch Cap Gemini World Wealth Report
2005
Looking ahead, total AUM in China is expected to grow
to $1.73 trillion by 2009 at a CAGR of nearly 14% per
annum, ranking China as one of the fastest growing markets
in the world. (3)
(3) Boston Consulting Group Global Wealth Report
2005
About The Citigroup Private Bank
The Citigroup Private Bank, one of the largest private
banking businesses in the world, provides personalized
wealth management services for clients through 126 offices
in 90 cities in 37 countries. The Citigroup Private Bank
offers unmatched global reach, coupled with a full range of
portfolio management and investment advisory services, an
array of structured lending and banking services, as well
as expertise from the Global Corporate and Investment Bank.
Citigroup Private Bankers act as financial architects,
designing and coordinating insightful solutions for
individual client needs, with an emphasis on personalized,
confidential service. The Citigroup Private Bank provides
services and products through various Citigroup affiliates.
Not all services and products are available at all
locations.
About Citigroup
Citigroup (NYSE: C), the leading global financial
services company, has some 200 million customer accounts
and does business in more than 100 countries, providing
consumers, corporations, governments and institutions with
a broad range of financial products and services, including
consumer banking and credit, corporate and investment
banking, insurance, securities brokerage, and asset
management. Major brand names under Citigroup's trademark
red umbrella include Citibank, CitiFinancial, Primerica,
Smith Barney, and Banamex. Additional information may be
found at http://www.citigroup.com .
Issued by The Citigroup Private Bank, a business unit
of Citibank N.A. Shanghai Branch.
For further information, please contact:
MR STEPHEN R THOMAS
Citigroup Corporate Affairs China
Tel: +86-21-2896-6369
Fax: +86-21-5879-5933
Email: stephen.r.thomas@citigroup.com
MR JACK SUNG
Corporate Communications
Citigroup Global Wealth Management - Asia-Pacific
& Middle East
Singapore
Tel: +65-6328-4532
HP: +65-9667-9411
Email: jack.sung@citigroup.com
SOURCE The Citigroup Private Bank
2007'02.01.Thu
Corporate Real Estate Experts Gather in Beijing for the Fourth Annual CoreNet Global Asia Summit
March 29, 2006
Real Estate Specialists Convene to Discuss the Global Economic Landscape and Key Factors Affecting Commercial Realty Across the Region
HONG KONG, March 29 /Xinhua-PRNewswire/ -- More than
250 international real estate professionals are in Beijing
this week for the fourth annual CoreNet Global Asia Summit,
a forum for commercial realty practitioners to discuss
issues impacting the commercial property sector, including
strategies for improving competitiveness, adapting to
change and embracing new technologies.
Themed 'Convergence 2006: Risk, Reward and Real Estate
in Asia', the Summit commenced today with a keynote address
from CoreNet Global Chairman Mr. Jeffrey L. Elie in which he
voiced optimism over emerging market opportunities and the
growth of the corporate real estate industry in China.
Mr. Elie told visitors that one of CoreNet Global's key
objectives for 2006 and 2007 was to focus on the growth in
Asia, starting with the Mainland. Said Mr. Elie,
"Your country is building a world-class infrastructure
and we are building one too. Smart buildings offer a good
example. China has the vision to integrate technology into
its new facilities to make them more efficient, safer and
profitable, and CoreNet Global members are among those
helping to do that."
Mr. Elie noted that a further trend influencing the
direction of corporate real estate and workplace management
was the growth in the number of professionals working in the
industry in Asia, particularly in China. "The
management styles and models that many companies are
adopting here, including workplace management and portfolio
optimization, are making corporate real estate an integral
part of their operations.
"At CoreNet Global, our recognition of the
potential of China to become a corporate real estate centre
means that we are increasing our commitment to knowledge
sharing, research, professional development and networking
here. CoreNet Global's Master of Corporate Real Estate, or
MCR professional designation, is an example of our growing
commitment to delivering quality services and programmes in
China as corporate real estate continues to evolve in
practice."
CoreNet Global established its Asia Summit programme
four years ago in response to growing interest in real
estate issues amongst business leaders. With real estate
issues becoming increasingly strategic to the mission of
any business (representing the second largest expenditure
on the balance sheet after salaries) corporations from
around the world are seeking a deeper understanding of
realty practices that can help them stay competitive.
According to Mr. Mike Zamora, Asia Chair for CoreNet
Global, this year's Summit will provide delegates with a
platform to learn from their peers the changes currently
affecting the real estate industry and how to take
advantage of future opportunities.
Mr. Zamora commented, "The corporate real estate
profession has come along way in recent years and we have
witnessed many changes. The summit programme over the next
few days is therefore about understanding these changes and
taking advantage of them.
"At present, we are witnessing an escalation of
convergence of businesses, service providers, locations and
public institutions from a corporate real estate
perspective," Mr. Zamora continued. "With the
blending of old and new so many dynamic new economies are
thus now leapfrogging more developed economies in other
parts of the world."
The CoreNet Global 2006 Asia Summit is being held at
the Grand Hyatt Beijing from March 28-30, 2008. For more
information, please contact Ms. Jennifer Gao on (8621) 6122
1251 or via email at jgao@corenetglobal.org .
About CoreNet Global
CoreNet Global is the world's premier association for
corporate real estate and related professionals.
Headquartered in Atlanta, USA, the global learning
organization is the industry thought and opinion leader,
plus the only professional real estate group that convenes
the entire industry.
Today, CoreNet Global's members manage US $1.2 trillion
in worldwide corporate assets totaling 700 billion square
feet of owned and leased office, industrial and other
space. With 7,500 members representing large organizations
around the world, CoreNet Global operates in five global
regions: Asia/Japan, Australia, Europe, Latin American and
North America including Canada.
For more information, please visit the CoreNet Global
website at http://www.corenetglobal.org .
For more information, please contact:
RFP
Janet Middlemiss
Tel: +852-2857-3832 / +852-9195-7829
Fax: +852-2840-1284
Email: jm@rfpmagazine.com
CoreNet Global
Jennifer Gao
Tel: +86-21-6122-1251
Fax: +86-21-6122-1481
Email: jgao@corenetglobal.org
SOURCE CoreNet Global
2007'02.01.Thu
Fine Jewelry: Scott Kay on Palladium Metal: Finer Than Platinum, Less Expensive Than White Gold
March 29, 2006
NEW YORK, March 29 /Xinhua-PRNewswire/ -- A precious
metal with all the properties of platinum with an added
benefit, yet less expensive than white gold? It's real and
it is about to be hit over 600 retail doors throughout
America. The metal is Palladium.
It is not man-made, is not cultured, fabricated,
enhanced, automated, altered nor plated. It is naturally
mined and is rare.
"Palladium is going to explode into our industry
-- unlike anything we have ever seen before... not because
of opinions but because of facts, noted world renown jewelry
designer Scott Kay. "Because it of its purity, color
and density factor and all the other characteristics it
shares with Platinum."
Scott Kay should know. His 20-year-old jewelry
business remains America's most requested bridal brand.
Moreover, he has been credited for nearly single-handedly
resurrecting Platinum in the '80s. He commands more bridal
jewelry incase space than any other brand in America in over
600 luxury retail doors.
FACT: Palladium is pure.
It is 95% Palladium and 5% Ruthenium, a property of
Platinum. As the industry puts it -- It is in the Platinum
Group Family.
FACT: Palladium is natural.
Precious gemstones and metal are mined from the ground.
So is Palladium. What you see is what you get, and what you
get is 100% natural.
FACT: Palladium is economical.
It sells for less than white gold and even if the price
per ounce exceeds Platinum, it is still very affordable
since it is less dense. It is affordable whether it be for
$150/ounce (which it once was) $300/ounce (as of this
writing) or the all time high or $1,000/once, it is still
affordable.
FACT: Palladium is less dense.
This means it is lighter in weight and that means more
jewelry will be made from it.
FACT: Palladium is hard.
12.6% harder than Platinum. This means, it is
extremely wearable -- bottom line: Palladium is superior.
FACT: Palladium is hypoallergenic.
There are only two parts to this metal -- Palladium and
Ruthenium. Neither alloy will cause skin irritation as
Nickel does in white gold.
FACT: Palladium is whiter than Platinum.
Palladium won't tarnish, chip or fade and is absolutely
not plated. Its white luster is smooth and bright ...
naturally.
Palladium photos, industry references, quotes are
available upon request.
For more information, please contact:
Dan Scott, CMO,
Scott Kay
Tel: +1-201-287-0100 ext.110 or +1-201-294-3697
Email: danscott@scottkay.com
Web: http://www.scottkay.com
SOURCE Scott Kay
2007'02.01.Thu
Launch of Global Alliance Against Chronic Respiratory Diseases (GARD)
March 28, 2006
Hundreds of Millions Suffer From Chronic Respiratory Diseases
BEIJING, March 28 /Xinhua-PRNewswire/ -- Today, the
Global Alliance Against Chronic Respiratory Diseases (GARD)
is being launched in Beijing, China. The alliance is a
global voluntary alliance of 41 national and international
organizations focused on reducing the global disease burden
of chronic respiratory diseases by integrating and
strengthening surveillance, prevention and treatment
efforts.
(Logo:
http://www.newscom.com/cgi-bin/prnh/20040610/CNTH001LOGO )
Currently, hundreds of millions of people suffer from
chronic respiratory diseases, including 300 million people
with asthma, 80 million people with moderate to severe
chronic obstructive pulmonary disease (COPD) and millions
of others with mild COPD, allergic rhinitis, and other
chronic respiratory diseases, which are often undiagnosed.
WHO estimates that some 4 million people died of chronic
respiratory diseases (CRD) in 2005 and that total deaths
will increase by 30% in the next 10 years, if action is not
taken now.
"The goal of GARD," says Professor Jean
Bousquet, GARD chairman, "is to reduce the global
burden of chronic respiratory diseases. As the prevalence
and global burden of chronic respiratory diseases are
expected to increase considerably in the near future, it is
clear that immediate action is greatly needed and the cost
for inaction is unacceptable."
The key objectives for GARD involve a comprehensive
approach to fight chronic respiratory diseases and in many
cases will build on already existing initiatives. They
include:
-- Developing a standard way of obtaining data on risk
factors and disease
burden of chronic respiratory diseases. This will
help define
strategies and raise chronic respiratory diseases on
the global and
local health agendas (as a public health priority).
-- Encouraging countries to implement health promotion
and chronic disease
prevention policies such as tobacco control in order
to reduce the
burden of chronic respiratory disease as well as
other chronic diseases.
-- Making recommendations for how to provide simple and
affordable
strategies for the management of chronic respiratory
diseases for all
patients in all countries. Strategies will focus on
early diagnosis
and appropriate and affordable treatments, because
chronic respiratory
diseases are largely under-diagnosed and
under-treated.
In China, an estimated 17% of all deaths are due to
chronic respiratory diseases. "Rapid urbanization in
China has contributed to the sharp rise in chronic disease
risk factors such as tobacco use, physical inactivity, and
unhealthy diet. By creating a supportive environment where
healthy choices are easy and accessible, healthy life years
will be added for individuals and the society at
large," says Dr Henk Bekedam, WHO Representative to
China.
WHO advocates an integrated approach to prevention and
care for all leading chronic diseases. Integrated
approaches that combine chronic respiratory diseases
prevention and management with a similar approach for heart
disease, stroke, diabetes and other chronic diseases are
necessary because the diseases share common risk factors
and require similar responses from the health system. The
integrated approach is not only best for prevention and
management, it is also cost-effective. This approach is
outlined in the recent released report, Preventing chronic
diseases a vital investment, which also called for a Global
Goal to reduce death rates from chronic respiratory diseases
and other chronic diseases including heart disease, stroke,
cancer and diabetes by an additional 2% per year over and
above existing trends during the next 10 years, to 2015.
Information about GARD is available on:
http://www.who.int/respiratory/gard/en .
Information about Preventing chronic diseases: a vital
investment is available on:
http://www.who.int/chp/chronic_disease_report/en .
For further information, please contact:
Ms Aphaluck Bhatiasevi
Communications Officer
Tel: +86-10-6532-7189 x681 or +86-10-6532-5687
Mobile: +86-1361-117-4072
Email: bhatiasevia@chn.wpro.who.int
Dr Nikolai Khaltaev
WHO Responsible Officer for GARD
WHO/Geneva
Tel: +41-22-791-3473
Email: khaltaevn@who.int
SOURCE World Health Organization
2007'02.01.Thu
Global Mobile Multimedia Application Services Provider (ASP), Nextnation to Roll Out 3G Products in China in Second Half of the Year
March 28, 2006
BEIJING, March 28 /Xinhua-PRNewswire/ -- Global mobile
multimedia Application Services Provider (ASP), Nextnation,
plans to launch its third-generation (3G) applications in
the second half of the year to strengthen its position in
the China market, said International PR Manager, Sally
Peh.
"Our 3G products will complement existing business
and tap the current development of 3G trends. We also
expect that it will contribute a significant growth in the
coming year's revenue," Sally said.
She predicted that, by 2007, the company's overseas
business was expected to account for over 70% of group
revenue as it intended to strengthen its presence in Asia
by penetrating into the China and India markets.
In addition to the China and India markets, Nextnation
will be targeting global expansion into other Asia regions
and European markets to add services, distribution channels
and infrastructures.
"The mobile multimedia application industry is
growing rapidly. Nextnation, through its over 80 wireless
operators has captured 500 million mobile users. We are
actually in a leading position in the emerging
market," said Sally Peh
The global market for cell phone premium content,
including music, gaming and video, is expected to expand to
more than $43 billion by 2010, rising at a compound annual
growth rate of 42.5 percent from $5.2 billion in 2004,
according to iSuppli Corp.
About Nextnation
Nextnation, a mobile application service provider,
enables businesses and individuals to access, connect, and
transact across today's complex global mobile networks.
Its core product MINDCEP(TM) Platform is a mobile
multimedia communication platform, facilitating and
enabling mobile data transmission worldwide using WAP, MMS,
SMS and Java technologies.
MINDCEP(TM) is connected to some of the largest premium
messaging networks in the world in order to offer a broad
range of services from content distribution to mobile
m-commerce and place the company at the forefront of this
rapidly growing messaging market. Additional news and
information about the company is available at
http://www.nextnationnet.com .
For more information, please contact:
Sally Peh
Tel: +603-7494-4839
Email: pr@nextnationnet.com
SOURCE Nextnation Network
2007'02.01.Thu
Texas Instruments Introduces Analog Current/Voltage Output Driver for Industrial Applications
March 28, 2006
BEIJING, March 28 /Xinhua-PRNewswire/ -- Texas Instruments Incorporated (TI) (NYSE: TXN) today announced a digitally-controlled current/voltage output driver for industrial applications such as industrial PLC (programmable logic controller) and process control equipment. The XTR300 delivers outputs up to +/-17V and +/-24mA, handling virtually any standard analog signaling requirements. Digital selection of voltage or current output eliminates bulky discrete circuitry and awkward pin-strapped configuration schemes. (See http://www.ti.com/sc06067 ) Internal fault detection circuitry in the XTR300 provides digital indication of line/load faults, including shorts or opens in cable or remotely-located loads. To sense output voltage, the device includes an instrumentation amplifier which can be connected for 4-wire load connections to accurately control the voltage at remotely-located loads. The instrumentation amplifier can also be used as a general purpose analog input. In addition, the XTR300 can be configured for 3-wire industrial sensor applications. It requires no external output transistors. The 5mm x 5mm QFN package allows power to be dissipated through a bottom-side power pad with low thermal resistance. The XTR300 operates from power supplies up to +/-20V and is specified over the -40C to 85C industrial temperature range. Chip fabrication is on a proprietary BiCMOS process. Available Today The XTR300 is available now in a 5mm x 5mm, QFN-20 package from TI and its authorized distributors. The device is priced at $2.45 in 1,000 piece quantities (suggested resale pricing). TI offers analog engineers a wide-ranging support infrastructure that includes training and seminars, design tools and utilities, technical documentation, evaluation modules, an online KnowledgeBase, a product information hotline and a comprehensive offering of samples that ship within 24 hours of request. For more information on TI's complete analog design support, and to download the latest Amplifier and Data Converter Selection Guide, visit http://www.ti.com/analog . Texas Instruments Incorporated provides innovative DSP and analog technologies to meet our customers' real world signal processing requirements. In addition to Semiconductor, the company's businesses include Sensors & Controls, and Educational & Productivity Solutions. TI is headquartered in Dallas, Texas, and has manufacturing, design or sales operations in more than 25 countries. Texas Instruments is traded on the New York Stock Exchange under the symbol TXN. More information is located on the World Wide Web at www.ti.com. Please refer all reader inquiries to: Texas Instruments Incorporated Semiconductor Group, SC-06067 Literature Response Center 14950 FAA Blvd. Fort Worth, TX 76155 1-800-477-8924 Trademarks All trademarks and registered trademarks are property of their respective owners. For more information, please contact: Kris Thompson Tel: +1-520-746-7441 Email: k-thompson2@ti.com Jacqi Moore Tel: +1-972-341-2514 Email: jmoore@golinharris.com SOURCE Texas Instruments Incorporated
2007'02.01.Thu
Ittiam Systems Introduces IP Video Phone Solution Based on DaVinci(TM) Technology from Texas Instruments
March 28, 2006
First Available High-end Video Phone Reference Design for OEMs and ODMs Based on DaVinci Technology
HOUSTON and BANGALORE, India, March 28
/Xinhua-PRNewswire/ -- Meeting the needs of video telephony
developers, Texas Instruments (TI) (NYSE: TXN) and Ittiam
Systems today announced Ittiam's complete IP video phone
solution built on TI's DaVinci(TM) technology-based
TMS320DM6446 processor. The platform lets OEM and ODM
customers quickly develop and bring to market a variety of
end solutions.
DaVinci technology is designed to enable innovation and
performance in multi-media systems across a variety of end
user applications. It is optimized for digital video
systems and includes digital signal processor (DSP) based
SoCs, accelerators, frameworks and development tools.
Leveraging the performance of DaVinci technology,
Ittiam's offering, the IPVP6446, provides the latest in
video compression technology and delivers video over IP
communication with high quality multi-way call capability
for standalone applications. Additionally the solution can
be integrated into other embedded applications such as IP
set top boxes, transforming a typical streaming media
device into a communication hub.
IPVP6446 is an integrated software solution utilizing
TI's complete DaVinci technology offering, including the
software architecture, which consists of a Linux platform
support package and interprocessor communications. This is
accompanied by Ittiam's application specific reference
platform built on the TMS320DM6446 DaVinci-based processor.
The media engine delivers H.264-based video coding to
achieve high quality visual communication in peer-to-peer
and multi-way call scenarios, ensuring an enjoyable end
user experience.
Advanced video processing is complemented by a wide
range of speech codecs; acoustic echo canceller for hands
free operation and associated telephony and signaling
functions. An adaptive jitter buffer provides enhanced
quality under adverse network conditions. In addition, the
phone adapts video bit-rate depending on bandwidth. It also
provides manual adjustment of video frame-rate or bit rate
and enables self view or picture-in-picture mode
dynamically during a call. It supports SIP and offers a
framework integrating the media engine, media-controller,
call-controller and user-interface manager.
The IPVP6446 comes complete with built-in keypad,
speaker, microphone, camera and VGA TFT LCD display
complete with Ethernet interface with built-in Ethernet
switch, wireless LAN, USB, IrDA and RJ11 interface. The
platform also supports a range of storage devices including
HDD, SD/MMC and SM. Within the system, TI's MSP430 ultra
low power 16-bit RISC microcontroller (MCU) handles
supervising functions by watching for inputs from the
infra-red remote control and providing a real time clock
function. MSP430 MCUs offer the industry's lowest power
real time clock mode operation at 0.8 micro amps.
"Harnessing the performance and flexibility of
DaVinci technology, Ittiam has developed a complete, solid
video phone solution that allows developers to deliver a
compelling video telephony experience," said Pamela
Jordan, Video IP phone product manager, TI. "OEMs and
ODMs can now turn to Ittiam's IPVP6446 as a one-stop
solution for their development of differentiated,
high-quality video phones that exceed end user
expectations."
"Nearly two and half years ago, Ittiam made a
forward looking investment in the emerging possibilities of
personal video communication technology," commented
Srini Rajam, chairman and chief executive officer, Ittiam
Systems. "We believe that with DaVinci technology we
now have the perfect horse power and price combination to
take the market to the next level," he added.
Ittiam's DaVinci technology-based video phone has
already been chosen by one OEM and the company is in active
discussion with multiple other OEMs and ODMs worldwide. For
more information on the IPVP6446 see
http://www.ti.com/ittiamvidephonepr .
About Texas Instruments
Texas Instruments Incorporated provides innovative DSP
and analog technologies to meet our customers' real world
signal processing requirements. In addition to
Semiconductor, the company's businesses include Sensors
& Controls, and Educational & Productivity
Solutions. TI is headquartered in Dallas, Texas, and has
manufacturing, design or sales operations in more than 25
countries.
Texas Instruments is traded on the New York Stock
Exchange under the symbol TXN. More information is located
on the World Wide Web at http://www.ti.com .
About Ittiam Systems
Ittiam Systems Private Limited, headquartered in
Bangalore, is a technology product company singularly
focused on digital signal processing systems in media and
communication. The company operates through its network of
offices and representatives around the world. Ittiam's
customers include Fortune 100 companies and are distributed
across U.S., Europe, Japan and Asia. In 2004 and 2005 the
company was rated as the `World's Most Preferred DSP IP
Supplier' in surveys conducted by Forward Concepts
Incorporated. In 2005 Ittiam had been also selected by Red
Herring into the top 100 private companies in Asia. For more
details, visit http://www.ittiam.com .
Trademarks
DaVinci is a trademark of Texas Instruments. All other
brand or product names are trademarks or registered
trademarks of their respective holders.
For more information, please contact:
Gary Silcott
Texas Instruments
Tel: +1-214-480-2048
Email: gsilcott@ti.com
Kellie Potucek
GolinHarris
Tel: +1-713-513-9576
Email: kpotucek@golinharris.com
Poornima Chikkananjaiah
Ittiam
Tel: +91-80-2299-8892/3
Email: poornima@2020india.com
SOURCE Texas Instruments Incorporated
2007'02.01.Thu
Xinhua China Ltd. Closes Second Part of $4,000,000 Financing
March 28, 2006
BEIJING, March 28 /Xinhua-PRNewswire/ -- Xinhua China
Ltd. ("Xinhua" or the "Company") (OTC
Bulletin Board: XHUA) is pleased to announce that on March
23, 2006, it agreed to sell the remaining $2,750,000 of the
$4,000,000 secured convertible debenture financing to
Cornell Capital Partners, LP, an affiliate of Highgate
House Funds, Ltd., and an accredited institutional
investor. On March 24, 2006, the Company closed the second
$2,000,000 portion of the secured convertible debenture
financing pursuant to the Amended and Restated Securities
Purchase Agreement based on exemptions from registration as
set out in Rule 506 of Regulation D and Section 4(2) of the
Securities Act of 1933, as amended. This agreement follows
an initial $1,250,000 in financing closed on December 13,
2005, bringing the total private placement financing under
this arrangement to $3,250,000.
On March 23, 2006, the terms of this financing
arrangement were modified, whereby the Company, Highgate
House, Funds, Ltd. and Cornell Capital Partners, LP entered
into an Amended and Restated Securities Purchase Agreement,
an Amended and Restated Investor Registration Rights
Agreement, and an Amended and Restated Security Agreement,
which amended and restated documents completely restate and
replace in their entirety the agreements dated November 23,
2005. In addition, the parties also executed an Amended
and Restated Irrevocable Transfer Agent Instructions.
Additionally, on March 23, 2006, the Company, Highgate
House Funds, Ltd. and Cornell Capital Partners, LP
terminated the Escrow Shares Escrow Agreement and the
Escrow Agreement, which resulted in the 20,000,000 shares
issued to Highgate House Funds, Ltd. in escrow to be
returned to the Company for cancellation.
"Now that we have completed this financing
process, we anticipate that this capital will give us
additional flexibility in our efforts to modernize the book
circulation and distribution business in China," said
Xianping Wang, president and CEO.
Pursuant to the Amended and Restated Investor
Registration Rights Agreement, the Company has agreed to
file a registration statement registering up to 20,000,000
shares of its common stock, issuable upon conversion of the
convertible debentures, up to 1,035,000 shares of its common
stock issuable upon the exercise of the warrants and up to
20,000,000 shares of the security stock which may be issued
to the selling stockholders if there is an event of default
under the secured convertible debentures.
A final $750,000 principal amount secured convertible
debenture will be issued to Cornell Capital Partners, LP
upon the Securities and Exchange Commission declaring the
above referenced registration statement effective.
The aggregate maximum number of shares of common stock
that the convertible debenture may be converted into shall
be 10,000,000 shares of common stock. If such maximum
conversion limit is reached, then the Company can either
increase the maximum amount or redeem the unconverted
amount of all of the convertible debentures at 135% of the
unconverted amount plus accrued interest. Interest is
payable on the principal amount of the secured convertible
debentures outstanding at 2% per annum, compounded monthly.
Xinhua has the right to redeem, with three business days
advance written notice, a portion or all outstanding
secured convertible debentures at a price of 135% of the
face amount redeemed, plus accrued interest. The secured
convertible debentures are secured by all of Xinhua's
assets.
The investors have received a fee of $240,000, which is
equal to 6% of the aggregate purchase price, of which
$216,000 was paid to Highgate House Funds, Ltd. on December
13, 2005 and $24,000 was paid to Yorkville Advisors, LLC at
the second closing on March 24, 2006. In addition,
Yorkville Advisors, LLC also received a structuring fee of
$5,000 and a due diligence fee of $5,000 with the first
closing. Furthermore, Gottbetter and Partners, LLP
received $15,000 in legal fees as counsel to Highgate House
Funds, Ltd. in connection with the first closing.
The proceeds from the transaction will be used to fund
the business of Xinhua C&D and for general corporate
purposes.
About Xinhua
Xinhua is a US publicly traded holding company that,
through one of its subsidiaries, Xinhua Publications
Circulation & Distribution Co., Ltd., holds a national
license for distribution of books and other publications in
China. Xinhua is involved in forming strategy, operating
and financing for Xinhua C & D. Xinhua also interfaces
with the worldwide financial communities to inform them of
the combined companies' goals and developments. For more
information, please call Mr. Alex Helmel at 1 800 884-3864
ext. 17 or visit its website at
http://www.xinhuachina.com.cn .
Safe Harbor Statement
This news release may include forward-looking
statements within the meaning of section 27a of the UNITED
STATES SECURITIES ACT of 1933, as amended, and section 21e
of the UNITED STATES SECURITIES EXCHANGE ACT of 1934, as
amended, with respect to achieving corporate objectives,
developing additional project interests, Xinhua's analysis
of opportunities in the acquisition and development of
various project interests and certain other matters. These
statements are made under the "safe harbor"
provisions of the United States private securities
litigation reform act of 1995 and involve risks and
uncertainties, which could cause actual results to differ
materially from those in the forward-looking statements
contained herein.
For more information, please contact:
At Xinhua China Ltd.:
Alex Helmel
Tel: +1-604-681-3864 or +1-800-884-3864
Email: info@xinhua-china.net
At The Investor Relations Company:
Woody Wallace or Michael Arneth
Tel: +1-847-296-4200
Email: wwallace@tirc.com or marneth@tirc.com
SOURCE Xinhua China Ltd.
2007'02.01.Thu
K2.net(TM) Delivers Seamless Integration to Microsoft BizTalk Server Today & Tomorrow
March 28, 2006
SourceCode's K2.net 2003 Will Deliver BPM Capabilities to BizTalk Server 2006 Solutions
REDMOND, Wash., March 28 /Xinhua-PRNewswire/ --
SourceCode Technology Holdings, Inc., creator of K2.net(TM)
the industry-leading business process management (BPM)
software for Microsoft .NET, today announced its support of
Microsoft BizTalk Server 2006 through the release of K2.net
2003 Service Pack 3 (SP3). This represents SourceCode's
continued commitment to help customers easily automate and
manage business processes while unlocking greater value
from their latest Microsoft investments.
SourceCode has always designed K2.net to seamlessly
integrate with BizTalk Server. The respective releases of
BizTalk Server 2006 and K2.net SP3 will enable customers to
take advantage of the new improvements in manageability and
scalability of BizTalk Server 2006 and increase the overall
efficiency of its BPM deployment. K2.net 2003 SP3 will
include three adapters that support process, event, and
work list capabilities. It will also provide continued
support for the BizTalk Server Business Rules Engine (BRE).
"With every release of its K2.net BPM offering,
SourceCode continues to demonstrate its commitment to the
entire Microsoft platform," said Steven Martin,
director of product management at Microsoft Corp.
"K2.net and BizTalk Server 2006 will help our
customers simplify their solutions while allowing them to
easily design and manage their business processes."
Together, Microsoft and SourceCode have been very
effective in creating solutions that support very large and
mission critical BizTalk Server installations around the
world. These installation successes come from applying the
right tool to the business challenge. BizTalk Server and
K2.net operate in a synergistic fashion to bring human and
system workflow capabilities together in a well managed and
optimized environment. The combination of these two
technologies have helped customers reduce their costs while
improving the way employees and partners interact with each
other over distances, time, and disparate systems.
"We have seen significant demand for BizTalk
Server from enterprise customer accounts around the globe
to effectively solve system-to-system integration
scenarios," said Adriaan Van Wyk, CEO of SourceCode.
"By extending K2.net to integrate with the latest
release of BizTalk Server, we will continue to meet
customer needs to rapidly design, automate and manage
processes across the Microsoft platform. I am pleased to
grow SourceCode's commitment to ensure K2.net continues to
seamlessly integrate with BizTalk Server to provide the
right solution for enterprises seeking to achieve high
levels of efficiency and scalability while reducing
costs."
About SourceCode
SourceCode Technology Holdings, Inc. develops the
award-winning K2.net(TM) 2003 enterprise workflow offering.
K2.net 2003 is the leader in business process management
for .NET through its enablement of rapid solution assembly
to optimize interactions between people, systems and
process. Customers derive significant value from their
Microsoft investments by leveraging K2.net 2003 and its
powerful, proven and seamless integration across a range of
products including: Microsoft Office 2003, Microsoft Office
InfoPath 2003, SharePoint Portal Server 2003, Microsoft
Office Project Server 2003, Microsoft Content Management
Server 2002, Live Communications Server 2005, BizTalk
Server 2004, Exchange Server 2003, and Visual Studio.net.
In conjunction with its global partner network, SourceCode
has developed solutions to help manage and monitor
processes that are designed to help customers increase
profitability, reduce costs, improve customer satisfaction,
and maintain compliance efforts.
SourceCode Technology Holdings, Inc. is headquartered
in Redmond, Washington, USA and has regional offices in the
United States, Canada, the United Kingdom, Germany, France,
South Africa, Australia, and Singapore.
SourceCode and K2.net are registered trademarks or
trademarks of SourceCode Technology Holdings, Inc. in the
United States and/or other countries. The names of actual
companies and products mentioned herein may be the
trademarks of their respective owners.
For more information, please contact:
Media Relations
Leah Clelland,
SourceCode Technology Holdings, Inc.
Tel: +1-877-8-CALL-K2 or +1-425-894-1847
Email: leah@k2workflow.com
SOURCE SourceCode Technology Holdings, Inc.
2007'02.01.Thu
Meet Beyondsoft at Gartner Outsourcing Summit
March 28, 2006
BEIJING, March 28 /Xinhua-PRNewswire/ -- Beyondsoft
Co., Ltd, a leading provider of end-to-end software
engineering services will be a key member of China sourcing
delegation at the Gartner Outsourcing Summit 2006.
The Gartner Outsourcing Summit, to be held on April
3-5, 2006 in Orlando, Florida, will provide unbiased,
road-tested advice and best practices for setting
outsourcing strategies and objectives, evaluating and
selecting the right services providers, managing
relationships with external partners and delivering
profitable outcomes.
Beyondsoft, a leading member of the China sourcing
delegation, will have a booth in Pavilion 1 opposite the
main entrance to the conference hall. Philip Lew,
Beyondsoft Senior Vice President, will lead a three person
team to participate in this summit, and meet with business
executives and managers to provide a road map to
outsourcing success in China along with insight and tips to
help make sense of it all.
About Beyondsoft
Established in 1995, Beyondsoft Co., Ltd is a leading
China based provider of end-to-end software engineering
services, ranging from software development, QA/Testing,
localization, to China market entry. Headquartered in
Beijing, Beyondsoft has domestic branches in Shanghai &
Wuhan, as well as overseas offices in Silicon Valley,
Seattle, Fort Collins in the United States, and Tokyo,
Japan. Beyondsoft is recognized as one of the top 3 US
& Europe oriented outsourcing companies in China by IDC
(Feb06). For more information, please visit
http://www.beyondsoft.com .
For more information, please contact:
Lorita Liu
Beyondsoft Group
Tel: +86-10-8282-6100 x5102
Email: liuye@beyondsoft.com
SOURCE Beyondsoft Co., Ltd
2007'02.01.Thu
Hughes Unveils New Comprehensive Service Brand
March 27, 2006
HughesNet Reflects Expanded Range of Services and Heritage of Technology Innovation and Market Leadership
GERMANTOWN, Md., March 27 /Xinhua-PRNewswire/ -- Hughes
Network Systems, LLC (HUGHES), the global leader in
broadband satellite networks and services, today introduced
its new HughesNet(TM) brand, replacing DIRECWAY(R).
Reflecting the company's heritage of technology innovation
and market leadership, the new name ushers in an expanded
range of broadband solutions and services for all its
customer segments -- enterprise, government, small
business, and consumer.
The new HughesNet brand encompasses all broadband
solutions and services from Hughes, bridging the best of
satellite and terrestrial technologies. These include
managed network services, digital media, and enhanced
broadband offerings for business and government agencies,
as well as high-speed satellite Internet access for
consumers and small businesses.
"This is the beginning of an exciting new era for
Hughes," said Pradman Kaul, Chairman and CEO.
"The new HughesNet brand underscores our corporate
commitment to enable our customers to realize the full
potential of broadband solutions and services, utilizing
the best of satellite and terrestrial technologies."
Hughes has more than 30 years experience in designing
and managing complex data networks. The company invented
the VSAT (very small aperture terminal) and has been the
market leader in providing satellite networks since 1986,
when Wal-Mart first chose Hughes technology to connect
their growing number of stores. In June of 2005, the
editors of Fortune called Wal-Mart's deployment of VSAT
technology one of the top 20 decisions that "shaped
the modern world of business."
Further explaining the change, Kaul said, "It only
took us a few years to establish DIRECWAY as the world's
leading 'broadband by satellite' service brand. But we're
now expanding to become the leading provider of broadband
solutions and services that integrate the best of both
satellite and terrestrial technologies to deliver unmatched
business value," he added. "HughesNet is a more
compelling representation of our company's overall market
reach and capability."
Hughes, a leading managed network services provider,
will organize its HughesNet enterprise and government
offerings around three core segments:
* Managed Network Services. HughesNet Managed Network
Services combine
satellite and terrestrial technologies to create High
Availability
Networks, Optimized Networks, and Access Continuity
Services.
* Digital Media Services. For businesses that need to
distribute digital
content, HughesNet Digital Media Services will
provide digital signage,
business IPTV, general content distribution, and
training offerings.
* Enhanced Network Services. For companies with more
specialized broadband
needs, HughesNet Enhanced Services will include VPN,
enhanced security,
Internet access, and customized mail offerings.
In the consumer and small business sectors where the
company currently serves more than 275,000 customers in the
US, HughesNet will encompass a variety of new, enhanced
services that will be rolled out over the course of the
year. All services are designed to enhance the user
experience and position the company as a comprehensive
Internet Service Provider (ISP). Anticipated services
include customized start pages, domain hosting,
personalized Web addresses, blogging, and advanced
hosting.
HughesNet services are delivered directly by Hughes in
North America, South America, Europe, India, and China, and
by a growing family of authorized service providers
worldwide.
To learn more about Hughes or the HughesNet service
brand, please visit http://www.hughes.com .
About Hughes Network Systems
Hughes Network Systems, LLC (HUGHES) is the global
leader in providing broadband satellite networks and
services for large enterprises, governments, small
businesses, and consumers. HughesNet encompasses all
broadband solutions and managed services from Hughes,
bridging the best of satellite and terrestrial
technologies. Hughes has shipped more than 1 million
systems to customers in over 100 countries. Its broadband
satellite products are based on the IPoS (IP over
Satellite) global standard, approved by the TIA, ETSI, and
ITU standards organizations.
Headquartered outside Washington, D.C., in Germantown,
Maryland, USA, Hughes maintains sales and support offices
worldwide. Hughes is a wholly owned subsidiary of Hughes
Communications, Inc. (OTC Bulletin Board: HGCM). For
additional information, please visit http://www.hughes.com
.
HUGHES, HUGHESNET, and IPOS are trademarks of Hughes
Network Systems, LLC. All other trademarks are the property
of their respective owners.
For more information, please contact:
Judy Blake,
Hughes Network Systems, LLC
Tel: +1-301-601-7330
Email: jblake@hns.com
Leslie Tullio,
Brodeur
Tel: +1-202-775-2672
Email: ltullio@brodeur.com
SOURCE Hughes Network Systems, LLC
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