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Global Innovative Partners Up to Target Casino Developments in Macau

Tech Team Investment Limited and Proficiency Macau Construction Company Limited have entered a joint venture according to Global Innovative Systems Inc., the full subsidiary owner of Tech Team. The announcement made June 29 stated that the two companies are hoping to capitalize on casino development projects in Far East casino hotspot Macau.

The new venture company called Pro Shing Construction Team Macau Limited owned 80 percent by Tech Team and 20 percent by Proficiency.

"We are very pleased to form this joint venture with Proficiency," Bondy Tan, President and Chief Executive Officer of Global Innovative said. "Proficiency brings expertise in engineering, construction and project management, as well as a strong reputation for providing quality work within major new development projects. Tech Team brings proven expertise in the design and build of customized energy savings solutions, as well as strengths in the design and supply of LED and other advanced lighting systems."

"The strengths and expertise brought together by Proficiency and Tech Team extend each other's service offerings to create a powerful service platform which will enable Pro Shing to attract new clients, particularly the many new casino projects planned and underway in Macau. Pro Shing offers a comprehensive range of design and build services for major development projects, from site foundation construction, to building construction, through to fitting-out work which includes innovative energy savings and lighting systems. We are excited about the Pro Shing joint venture and how it immediately enhances our ability to generate new sales revenue," he added in his statement.

The Venetian Macao Casino Resort is Pro Shing's first client. The group has secured contracts with Venetian adding up to approximately $7.5 million. The contracts are for work on specific sections of the Venetian, including excavation, foundational work, structural construction, and fitting-out. Tender bids have also been submitted by Pro Shing for additional work on the Venetian, worth an estimated $8.75 million. The tender bids are still awaiting approval. The decisions are expected to be meted out by the end of July this year.

The Venetian Macao Casino Resort is one of the casino hot spots in Far East Asia, a mega-resort that will take $1.8 billion to establish. The casino resort will be occupying 10.5 million square feet of space, featuring 3,000 suites, 1 million square feet of convention and exhibition space, a 2,000 seat showroom, 850,000 square feet of mall space, and a 15,000 seat arena. The Venetian is expected to open early 2007.

 

Wednesday, September 06 , 2006
Brian Letendre