Joint Venture Company In Doha,Qatar

Press Release November 19,2006 The Board of Directors of Technovator Int Pte Ltd wish to announce the company has entered into a Joint Venture Agreement with Sheikh Mohamed.Ahmed.Jassim Al-Thani in relation to the establishment of a joint venture company, Technovator-Qatar based in Doha,Qatar.  Technovator-Qatar will be principally engaged in the business of providing Digital City solutions and products to the construction and infrastructure markets in Qatar. The objective of Digital City is to create a new and innovative set of interoperable, interactive, city wide internet based on-line e-governance and environmental application and services, to assist city administration, business and end users to distribute and receive information, control and monitoring of the city life. Sheikh Mohamed.Ahmed.Jassim Al-Thani and Technovator Int will have 51% and 49% shareholding in Technovator-Qatar respectively.  Technovator-Qatar is deemed to be a subsidiary of the Technovator Int as the company controls the composition of the Board and is responsible for its management and operations.
Technovator-Qatar will be based in Doha, this joint venture company will tap Sheikh’s extensive network of his newly built properties and also his customer base to broaden the use of Digital City solutions and products in Qatar. About Sheikh Mohamed.Ahmed.Jassim Al-Thani Sheikh Mohamed.Ahmed.Jassim Al-Thani is currently President of a think-tank he founded – the Tanwer Centre for Strategic Studies in Doha.  He also serves in the Middle East advisory board of the London Business School and speaks regularly at the School on reforms in Islamic societies.  Sheikh Mohamed.Ahmed.Jassim Al-Thani spent most of his 17 years of  working experience in the oil and gas sector, in companies such as Qatar Petroleum Corporation, Qatar Gas and Ras Gas, before he was appointed Minister of Economy and Commerce between 2003 and Mar 2006.  About Technovator Int Pte Ltd Technovator was founded by Tsing Hua Tong Fang, a US$1 billion blue chip company listed in China’s Shanghai Stock Exchanges. The company has a total equity capital of 575 million shares. The establishment of Technovator in Singapore is part of the Strategy for Tsing Hua Tong Fang to achieve its vision of being “A World Class Hi Tech Company”. Technovator provides a wide range of products and professional services within the Building Technology sector.

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