Golden Fortunes Project Gateway - as taken from their info
"GOLDEN FORTUNE INVESTMENTS LIMITED (ASE:GFX)
PROJECT GATEWAY
Information Summary
Overview
Golden Fortune Investments Limited has secured a major business deal with China. The management has worked over five years to establish and cement their contacts and relationships with China. GFIL has overcome the usual roadblocks to the worlds largest untapped market by signing a Joint Venture Agreement with the Nanjing Orient Railway Communication Equipment Co. Ltd. (NORCEL).
Golden Fortune has also secured agreement to enter a strategic alliance with WaveRider Communications Inc., the wireless Internet access equipment provider for the project. Together these Agreements will propel Golden Fortune to the forefront of the Wireless Internet market in China.
The data communications infrastructure in China is frail at best. What they seek is an upgrade of their whole technology infrastructure and they are spending US$62 billion to do it under their Golden Projects.
Goals
Golden Fortune has two goals embedded in Project Gateways three phases:
1. To set up a national Wireless Internet access backbone for China; and
2. To become the leading Wireless Internet Service Provider in China.
The advent of the Internet in China, its capabilities and scale of economy provides Golden Fortune with a very exciting ground level project that has extremely high revenue potential. Golden Fortune has the Joint Venture. It has the necessary licences through NORCEL for national manufacturing, marketing, sales, distribution, and service. It has the product through WaveRider approved for China and it has gained approval from the Chinese Central Government to become a National Wireless Internet Provider (ISP). But most importantly, GFIL has an initial order valued at over US$20 million.
Project Gateway
There are three phases to the Project:
Phase I
GFIL will begin setting up a Wireless Internet backbone with Chinas Private Networks. The first phase order is for a minimum of 1,000 semi-knock down (SKD) units over the year. GFIL will also set-up a pilot ISP operation to begin targeting the general public. Golden Fortune has the ability to appoint resellers in China to facilitate public market access.
Phase II
In Phase II, Golden Fortune will broaden its scope to begin expanding the Private Network development to the Province of Jiangsu which holds a population of over 75 million people. The order for this portion of the establishment of the private networks is a minimum of 1,500 complete knock-down (CKD) units.
At the same time, Golden Fortune will begin the set-up of pilot ISP services in other cities. These cities are: Beijing (17 million), Guangzhou (12 million), Nanning (2.5 million), and Anshan (2.2 million). This will begin Project Gateways expansion to the various regions with services for both private and public ISP operations.
Phase III
The third Phase order is a minimum of 5,000 CKD units. This signals the expansion of Golden Fortune to the national level to complete the Wireless backbone and to go national as an ISP.
Golden Fortunes Target Market
There are two target markets for Golden Fortune:
1) The Private Networks
Private networks consists of state-owned entities such as government ministries, banks, Universities and schools to name a few. The government ministries are spending US$173 million on data communications alone. In Phase I, II and III of Project Gateway, Golden Fortune will target the private networks, in particular the China Railway Bureau (CRB) to establish a National Wireless Internet Network. Golden Fortune already has an order valued at over US$20 million.
2) The General Public
In conjunction with establishing the National Network, Golden Fortune will begin set-up of its services as an Wireless Internet Service Provider and operator to target the general public market. Golden Fortune will begin with the City of Nanjinga population of approximately 7.1 million people. In Phase II and III, Golden Fortune will establish regional and national presence. GFIL plans to provide services to 1,000,000 people by 2003.
Business Development
Golden Fortune has a joint venture with the Nanjing Orient Railway Communications Equipment Co. Ltd. (NORCEL) As a joint venture partner with NORCEL, Golden Fortune has the national licences and approvals from the Chinese Central Government to manufacture, market, sell, distribute, and service Wireless Internet access products. It also holds foreign currency exchange licences. It has the mandate to establish a national wireless Internet network in China and it has a minimum initial order of 7,500 units valued at over US$20 million. Golden Fortune also has the approval to become a national Wireless Internet Service Provider and the ability to appoint ISP resellers throughout the country.
The structure of the Joint Venture Agreement is such that Golden Fortune receives 70 per cent and NORCEL receives 30 per cent of the net revenues which will come from three streams:
First, the order for the Private network setups, sales and services will be the primary revenue stream. Second, revenue will be garnered through Golden Fortunes ISP operations. This operation will provide Wireless Internet access to both the private networks and the general public and business. GFIL plans to expand its market through the appointment of resellers as ISP providers. The third avenue of revenue will be from service and value-added services to the public and business market. Some of these services include the following:
1. Internet content provider - advertising revenues
2. Wireless Internet telephony
3. E-mail account provision
4. Internet cafe operation
5. Internet mall
Foreign Exchange And Disbursement of Profits
NORCEL holds foreign currency and exchange licences that enable it to disburse capital in the form of profits leaving the country and for other, normal course, international business transactions. This facility will enable NORCEL to provide Bank of China issued Letters of Credit in relation to payment for imported goods and services.
The Companies
Golden Fortune Investments Limited (ASE:GFX) is a diversified company with interests in technology licencing agreements, and other investment holdings including mining. The companys primary objective is to capitalize on opportunities within the growing China Internet market through the Managements long-term business relationships within China. Golden Fortunes Head Office is located in Vancouver, British Columbia, Canada.
Golden Fortunes Joint-Venture partner, the Nanjing Orient Railway Communications Equipment Co. Ltd. (NORCEL) is one of the leading wireless technology development and manufacturing companies in China. It is fully registered in China with nationally approved licences to develop, manufacture, and market wireless communication equipment and other related products. As an example, it currently manufactures certain Motorola products under licence. The company is currently selling its products in over 25 cities within China and is still expanding its markets. It has won numerous awards for quality, product design, and operational efficiency for three consecutive years.
WaveRider Communications Inc. (OTC BB: WAVC) is a leading, wireless technology company that develops, manufactures and markets high performance products for data communications and Wireless Internet Networking (WIN). WaveRider Communications Inc.s Head Office is located in Toronto, Ontario, Canada (web site: www.waverider.com; E-mail: info@waverider.com).
For further information regarding Golden Fortune Investments Limited, please call (604) 688-2623 or within Canada toll free at 1-877-688-2623; E-mail: info@gfil.com or visit our web site: www.gfil.com." |
