China Crescent Enterprises, Inc. Kicks Off Trade Mission to Kenya
DALLAS, TX--(Marketwire - October 26, 2009) - China Crescent Enterprises, Inc. (OTCBB: CCTR)
today announced the kick-off of the previously announced Trade Mission to
Kenya. Former Chairman of the Dallas Federal Reserve and Retired Major
General Hugh G. Robinson is a host of the Trade Mission. Information on
China Crescent's initiatives in Kenya and East Africa can be reviewed in an
on-demand Webcast available at www.chinacrescent.com titled 'China Crescent
Africa Webcast.'
China Crescent is a systems integration service provider in China that
sells and services brand name technologies such as Microsoft, Oracle,
Cisco, IBM, HP and Dell in addition to selling and servicing innovative new
technologies. The Company reported over $40 million in revenue in both 2007
and 2008 and has forecasted reporting $50 million in profitable revenue in
2009.
China Crescent has targeted Kenya as its next foreign market expansion
opportunity. China Crescent recently participated at the African Advanced
Level Telecommunications Institute (AFRALTI) WiMax Conference in Nairobi in
preparation to begin operations in Kenya. Broadband adoption in Africa is
expected to experience 28% growth annually through 2013 as undersea cables
come online. Kenya has one submarine cable in place with two additional
cables expected by 2011. The expanded capacity for broadband in Africa is
expected to reduce costs by nearly 75%, making broadband affordable to
end-users. Africa's current broadband system relies heavily on satellite
for broadband communication, which typically costs about 20 times more than
broadband offerings in the U.S. A recent report by Pyramid Research stated,
"By early 2011, we expect that more than half of all African markets will
have 3G, while broadband coverage is increasing daily via both wireless and
wireline technologies." China Crescent plans to position itself to provide
the necessary products and services to facilitate and profit from the
inevitable Internet usage demand growth and related government and business
technology needs in Kenya.
Corporate Webcast Scheduled for Release Tomorrow
China Crescent is scheduled to release a Webcast tomorrow, Tuesday, October
27th on 2009 sales growth and the Company's progress year-to-date to
improve both operating income and net income. The Webcast is also slated to
review the previously announced $0.30 suggested fair value target price per
share.
A link to the Webcast is slated to be posted to the corporate website
www.chinacrescent.com upon release tomorrow.
Corporate E-mail Updates
To sign up to receive company updates or to obtain more information on the
Company, please visit www.chinacrescent.com.
About China Crescent Enterprises, Inc. (www.chinacrescent.com)
China Crescent Enterprises, Inc. reported over $40 million in profitable
revenue in 2008. The Company is a technology leader in the rapidly
developing Chinese market specializing today in software engineering, high
quality software development and digital multimedia outsourcing services
delivered to customers globally. At the same time, the firm is a systems
integrator and value added reseller of major global hardware brands in the
Chinese domestic market.
Headquartered in Dallas with operations in Shanghai and Beijing, China
Crescent bridges the gap between Western and Eastern business cultures to
assist Western clients in realizing the advantages of the high quality, low
cost technology products and services available from China. China Crescent
also assists Western clients in localizing products and services to realize
the tremendous growth potential available by expanding into the Chinese
Market.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995
This press release contains forward-looking statements that involve risks
and uncertainties. The statements in this release are forward-looking
statements that are made pursuant to safe harbor provision of the Private
Securities Litigation Reform Act of 1995. Actual results, events and
performance could vary materially from those contemplated by these
forward-looking statements. These statements involve known and unknown
risks and uncertainties, which may cause China Crescent's actual results in
future periods to differ materially from results expressed or implied by
forward-looking statements. These risks and uncertainties include, among
other things, product demand and market competition. You should
independently investigate and fully understand all risks before making
investment decisions.
Contact Information: Contact:
China Crescent Enterprises, Inc.
ir@chinacrescent.com
214-722-3060