****MORE INFO RELATED TO LATEST PR******
***THIS GIVES MORE INFO ON THE AREA IN WHICH GGNC IS TO DEVELOP ITS SPORTSBAR AND THE COMPANY THAT IT HAS AN AGREEMENT WITH.
A MUST READ!!!
I GOT THIS FROM RAGING BULL WHICH GOT IT FROM THE YAHOO THREAD
More Research
by: BustedSpike (M/Ft. Worth, TX)
2425 of 2459
Southern China Development Background
Bejing chooses developer John A. Jones to build a metropolis in Southern China. Jones' company was chosen
by
Chinese government authorities to coordinate the planning and building of a $5.2 billion, state-of-the-art city -
in a blended
image of Hong Kong and Southern California - along the southern shores of Shenzhen. The area was once a
barren patch
of grassland across the Hong Kong border that Beijing designated as a "special economic zone" 12 years ago
when it
seriously began flirting with capitalism.
The Shenzhen project is among a handful of joint real estate ventures that the Beijing government has
sanctioned in recent
years as it shapes its regulations regarding foreign real estate investment in areas it has chosen for industrial
development.
The idea, said Chinese officials, is to create as self-contained city for the hundreds of thousands of people who
work for
a burgeoning group of joint venture companies in the area. Nearly half of the 7,000 companies that dot
Shenzhen are
operating with some foreign investment, they said. This number is expected to rise rapidly in the 1990's as
companies in
neighboring Hong Kong-in a move to cut production costs-shift operation to the Shenzhen area.
Shenzhen had nearly 81,000 acres designated as a special economic zone in 1980 as an experiment to draw
foreign
capital by cutting bureaucracy and allowing non-communistic companies to locate there. Since then, this once
sleepy
hamlet of 70,000 peasants has been transformed into a Chinese haven of capitalism.
With all it capitalist trappings, Shenzhen appears more like Hong Kong than the rest of China; in fact, the Hong
Kong
dollar, not the Chinese yuan, is the city's preferred currency.
The Chinese government hopes that building a cultural and entertainment center in Nanshan would discourage
managers
working at these businesses from spending their weekends-and their money-in Hong Kong. It would also
provide
entertainment for the zone's multitude of workers, said Shen, who is also director of Nanshan's Construction
and Land
Bureau.
With government real estate regulations beginning to firm up, foreign investors are becoming interested in
China. Recently,
New World Development Co. of Hong Kong has agreed to jointly develop about 1,033 acres of Guangdong
real estate,
which includes a golf course and residential complex on a site in Foshan, two residential complexes in Canton,
and a
residential and commercial complex in Huizhou.
largovista.com
New World Deveopment Company Corporate Profile
New World Development Company Limited is a diversified company with interests in construction and
engineering,
property development, investment and management, operation of hotels and restaurants, ancillary services,
transport
infrastucture, TV broadcasting, operation of leisures centres, finance and insurance services. The group
operates in the
People's Republic of China, North America, Europe, Southeast Asia and Hong Kong. Construction and
engineering
accounted for 36% of fiscal 1998 revenues; property sales, 25%; hotel and restaurant operations, 12%;
telecommunication services, 10%; rental income, 9% and infrastructure and other, 8%.
GGNC Connection
GGNC signed an agreement with Asian Star Developments Inc., (the owner and operator of an Asian Water
World Park
and Entertainment City), to open the first Internet Sports Bar Club in Asia (also the first in China).
One of the majority shareholders of Asian Star Developments, Inc. is one of the largest publicly trading
companies in Asia:
New World Development Co. Ltd. which is founded and owned by one of Asia's most famous billionaires.
New World
Developments Co. Ltd. currently has significant business interests, investments, hotel chain operations and
connections in
China.
Thursday January 28, 3:40 pm Eastern Time
Company Press Release
GGNC Signs Agreement With Asian Star
Developments, Inc. to Open the First Internet Sports
Bar Club in Asia -- Also the First in China
LAS VEGAS--(BUSINESS WIRE)--Jan. 28, 1999--GIC Global Intertainment
Corporation (OTC BB:GGNC) a high
technology Internet entertainment and marketing Company that markets a ''5 star'', award
winning, online Sports Book and
Casino at www.cyberbetz.com announced today that they have signed an agreement with Asian Star
Developments Inc., (the owner and operator of an Asian Water World Park and Entertainment City), to
open the first Internet Sports Bar Club in Asia (also the first in China).
1) The Internet Sports Bar Club will be located within an existing and operating Water World Park and
Entertainment City just above Hong Kong and Shenzhen and below Guangzhou city in southern China.
2) The Water World Park and Entertainment City is located on 132
acres of land in Shilong city, Dongguan in Guandong Province in
Southern China which is the current leading entertainment and
fashion region of China.
3) Guandong Province is currently the wealthiest and the most developed Province of China. The surrounding
areas where GGNC's Internet Sports Bar Club will be located (within the Water World Park and
Entertainment City), has a total population of 62,460,000.
4) The Internet Sports Bar Club is currently under renovation and
will be opened approximately 60 days from now. 5) One of the majority shareholders of Asian Star
Developments, Inc.
is one of the largest publicly trading companies in Asia: New
World Development Co. Ltd. which is founded and owned by one of
Asia's most famous billionaires. New World Developments Co. Ltd.
currently has significant business interests, investments, hotel
chain operations and connections in China.
GIC Global Intertainment Corporation is a high technology, Internet Company that searches for proven
technologies that are
directly linked to the Internet. The Company intends to seek market dominance by way ofmergers and
acquisitions of Internet
related companies and technologies that are already positioned in the marketplace. |
