LONDON, June 16, 2016 /PRNewswire/ -- The directors and management of Capital Venture Europe PLC (PINKSHEETS:CPVNF) are pleased to provide an update on the Company's primary assets.
The company's flagship asset remains the Islandia project for which it has exclusive rights to negotiate the acquisition of the project. The Islandia is a resort to be constructed on the Pulau Abang Besar island near Bintan in Indonesia. The Company is in collaboration to develop the resort with Huafa Assets, a Malaysian property developer and South Decoration Engineering, a Chinese engineering firm. The $900 million project hopes to develop the island pending a reorganization to feature hotels, resorts, short-term residences and a nature-based theme park of over 1200 hectares. The Company hopes that this project will break ground in 2017. More information can be found on www.theislandia.com.
The company also owns 26% of Heulab Pte. Ltd. Heulab Pte. Ltd. is a multi-award-winning technology company specializing in touch-based computing, E-learning and other enterprise collaboration solutions. The company looks forward to Heulab continuing the development of its technology into a long-term asset to enhance the company's portfolio.
Capital Venture Europe PLC is a diversified holding company with holdings in world-class assets that span the globe. The Company maintains a focus on expanding its portfolio assets around the globe specifically in the real estate and technology sectors that synergistically enhance the value of our intrinsic valued portfolio to maximize returns for our clients and investors.
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein. U.S. GAAP, ASC 450-20 defines a contingency as an "existing condition, situation, or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to an entity that will ultimately be resolved when one or more future events occur or fail to occur."
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SOURCE Capital Venture Europe PLC