cag-global.com
TSX Symbol: CPT October-7-2002
SE Global Announces Expansion Plans in China
SE Global Equities Corp. (OTCBB:SEGB), a subsidiary of Capital Alliance Group Inc (TSX-V:CPT), today announced plans to establish a Shanghai-based subsidiary called SE Global Capital (China) Inc. ("SEG China"). The new subsidiary will introduce SE Global's business model to the Chinese market, develop new business and explore investment opportunities.
To facilitate this expansion, SE Global Equities Corp. has signed a Memorandum of Understanding ("MOU") with a strategic Shanghai and Hong Kong- based investment group to jointly own SEG China. Under the terms of the MOU, SEG China will market SE Global's financial services to investors in China. Additionally, SEG China will provide consulting services to Chinese companies planning to enter U.S. equities markets. SEG China will also assist North American companies interested in expanding to the Chinese market. Responsibilities of the Chinese partner will include the provision of office facilities, support, staff and establishing and building business leads. SE Global will contribute management expertise and provide support services from its North American infrastructure. Further details regarding this joint venture will be announced upon completion of the formal agreement.
"As Asia's fastest growing economy and leading financial center with a population of almost 17 million people, Shanghai presents significant business opportunities for our group of companies," stated Toby Chu, CEO of Capital Alliance Group. "Based on our extensive research and many years of experience operating in China, Capital Alliance Group and its subsidiaries provide the type of services that are in high demand, such as education and electronic financial services. Coinciding with the recent launch of NASDAQ's first mainland China office in Shanghai, the entry of SE Global in Shanghai represents a strategic component of our future expansion plans."
On Behalf of the Board of Directors of CAPITAL ALLIANCE GROUP INC.
"Toby Chu"
Toby Chu
President and C.E.O |
