Recent News:

CAF Announced Exit From Malaysia Iron Ore Investment Project

Beijing, Hong Kong, Kuala Lumpur, 6 February 2014: China-ASEAN Investment Cooperation Fund (CAF) has announced its exit from a 2012 investment in the Malaysian iron ore project owned by Prosperity International Holdings (H.K) Limited. The project supported the development of Malaysian mining industry, raised the environmental protection standard and contributed to the sustainability of the competitiveness of the Chinese steel industry.

Commenting on the investment, Mr. Li Ruogu, Chairman of both the Export-Import Bank of China and CAF credited the whole team for its outstanding execution, judgment and communication skills demonstrated during the implementation and exit of the project. He said: “Apart from economic gains, this project has also exerted superior social impact over both China and Malaysia. It promoted the local employment, increased taxation revenue, and brought sustainable development in mineral resources in Malaysia. In addition, it boosted the cooperation between China and Malaysia in the field of resource exploitation, which is in line with the long-term overseas investment strategy of China. ”

About China-ASEAN Investment Cooperation Fund

The China-ASEAN Investment Cooperation Fund is a US Dollars denominated offshore equity fund approved by the State Council of the Peoples Republic of China and the National Development and Reform Commission. The establishment of the fund was sponsored by the Export-Import Bank of China together with other prominent Chinese and international institutional investors. CAF focuses on investment opportunities in infrastructure, energy and natural resources sectors in order to facilitate sustainable economic growth in the ASEAN and further promotes China-ASEAN connectivity and industrial cooperation. CAF serves as the pioneer to promote the “South-South Cooperation” between China and the emerging markets, and facilitates the “Going Out” strategy for the Chinese enterprises. The current size for the phase I of the fund is US$ 1 billion and the ultimate target is US$ 10 billion. For more information, visit www.china-asean-fund.com.

About Prosperity International Holdings (H.K.)

Prosperity International Holdings (H.K.) (“PIHL”, Stock ticker803.hk) was listed on the Stock Exchange of Hong Kong Limited ("HKSE") in 2001.

The main business of Company includes: (i) mining, processing, and trading of iron ore targeting at customers in China; (ii) production of clinker and cement; (iii) investment in a public port and warehouse facility in Jiangsu Province, China; (iv) real estate development in China.

For more information, please visit http://www.pihl-hk.com/html/about.php


Contact:

Bei Xu    Phone+852 6297 5019  Emailxu.bei@china-asean-fund.com






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