Sino Express Enters Into Corporate Travel Sector With The Acquisition of NSIBC Limited
Friday January 6, 6:00 am ET
HONG KONG--(BUSINESS WIRE)--Jan. 6, 2006--Sino Express Travel Limited (OTC:SXPT - News) announced today that it has entered into an agreement with Sinochamp Holdings Limited to acquire 100% of NSIBC Limited (www.nsibc.com), a Beijing based corporate travel company. This acquisition is expected to boost Sino's corporate travel services in Beijing and further enhance Sino's current HKD 50 million revenue. Xia Chen, CEO of Sino Express Travel comments, "Beijing Olympics will arrive in just over two years time, we sense a myriad of travel demands for Sino Express in Beijing by then. We will continue our plan to enrich our portfolio with companies like NSIBC. Our vision is to offer a premier travel service for all travelers in the greater China."
Established in 2004, NSIBC specializes in offering corporate travel services and has close to 10,000 registered online members with post-graduate education. It focuses on the corporate travel sector in the northern China region with clients such as Beijing Guo An Electrical Company, Beijing Mobile5 Technical Company Limited and State Grid Corporation of China. This acquisition enhances Sino's growing travel portfolio, and creates further synergy with Sino's 4-5 star hotel room wholesale operation.
Sino Express Travel Limited (www.sinoexpresstravel.com) together with its 100% owned subsidiaries, GS Travel (Hong Kong) Ltd, NSIBC Ltd and www.v222.com, is an international travel company with operating offices in Hong Kong, Beijing, Guangzhou, Vancouver, Toronto and Seattle. Sino intends to grow its business by acquiring and operating a diversified travel business portfolio, seeking to invest in profitable travel related companies with reputable management and high growth potential.
Contact:
Sino Express Travel Investor Relations
Miss Shirley Yu, (852) 3106-0998
(852) 3106-0280 (fax)
ir@sinoexpresstravel.com |
