Sino Fibre Enters Into a Joint Venture With China Association of Small and Medium Enterprises
Monday January 08, 2008 7:00 am ET.
Sino Fibre Communications, Inc. (OTCBB:SFBE), a broadband and value added
Internet services provider in China, announced that it has entered into a
co-operation agreement with China Association of Small and Medium Enterprises
("CASME") to establish China Business Online Company Limited, a joint venture to
explore the Chinese market and introduce e-business and provide barter trade
services to Chinese small- and medium-sized enterprises.
CASME is administered by the National Development and Reform Commission to
provide business development assistance to Chinese medium and small enterprises
in China and abroad. CASME operates across China with branch offices in cities
and provinces throughout the country. CASME currently has 580,000 registered
members and continues to grow at a rapid pace. View more at www.ca-sme.org
Sino Fibre Communications, Inc. and CASME have agreed to work together to take
advantage of advanced international management practices to provide barter trade
services for Chinese small- and medium-sized enterprises. The parties will
jointly establish China Business Online Company Limited in China, which will be
wholly funded by Sino Fibre Communications, Inc. CASME will provide the CASME
brand, government and member resources to develop the business of China Business
Online Company Limited. The parties intend that CASME will hold a 15%
performance share equity with the specific equity allocation to be settled upon
the establishment of China Business Online Company Limited. Other terms of the
joint venture will be agreed to by the parties in future negotiation sessions.
Ben Yan, President and Chief Executive Officer of Sino Fibre Communications,
Inc., commented on this new business development with CASME, "This joint
co-operation business venture with CASME will provide an international
e-commerce platform for all CASME members to conduct their e-commerce and
e-barter trading under one state-of-the-art, secured, robust network
infrastructure. These transactions will create increased demand for Internet
online traffic riding on fiber optic telecommunication networks, which will
create a recurring revenue stream for Sino Fibre."
About Sino Fibre:
Sino Fibre Communications, Inc. (``Sino Fibre'') is an open source company dedicated to provide international standard fiber optic backbone telecommunications transmission related sales and/or leasing services in China to all foreign telecommunications carriers and corporate users. Sino Fibre Communications is positioned to become China's premier provider of low cost fiber optical solutions to international telecommunication companies and large corporations that require Chinese intercity connectivity. Our low cost solutions range from the leasing of intercity dark fiber to providing co-location, broadband transport and IP-centric voice services.
The Sino Fibre Communications Corporation logo is available athttp://www.primenewswire.com/newsroom/prs/?pkgid=4102
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
CONTACT: Investor Relations