02.07.2008 13:30:00
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IA Global Relationship With Mr Michael Ning and Taicom Securities Co Ltd
IA Global, Inc. (Amex:IAO)
announced a stock exchange with Taicom Securities Co Ltd ("Taicom”)
which closed June 3, 2008. The Taicom transaction contributed to the
increase in IA Global’s stockholders equity to
approximately $14 million as of June 30, 2008. The majority stockholder
of Taicom is Michael Ning, an existing shareholder of IA Global, Inc.
The new relationship with Mr. Ning and Taicom is consistent with IA
Global’s focus on acquiring and developing
high margin service delivery companies operating in the Asia Pacific
Region.
Taicom helps clients trade levered securities such as commodities,
foreign exchange and Nikkei 225 derivatives, as well as equities, bonds
and mutual funds, and is expanding into the retail high net worth and
mid-market institutional sectors in Japan. Taicom will provide valuable
assistance to IA Global in broadening its shareholder base in Japan and
Northern Asia, provide guidance in enhancing IA Global’s
investor relations activities, and assist with fund raising activities
in the Asian markets. Taicom’s business model
is to acquire outdated and/or distressed investment brokerage
businesses, and to improve operations by introducing new and proven
wealth management business models from the United States, and to
consolidate operations when tactically feasible. Taicom’s
operations are currently in Japan, but they are beginning to extend
operations into the United States. Business expansion plans include
forming strategic relationships with third-party investment brokerages
operating in emerging countries as well as acquisitions to create
additional sales, operational and marketing synergies.
Mr. Ning began his financial services career with Shearson Lehman
Brothers in 1987. He was subsequently affiliated with Merrill Lynch
International and Oppenheimer & Co., where he advised affluent Asian
corporations and families on investment matters. In 2005, he started the
Arque Orion Group. This Group and its private equity fund co-own Arque &
Co., Incorporated, an SEC registered investment advisor, which is
expected to create proprietary financial service products for affiliate
distribution in Japan and the US. Arque Capital, Ltd., a US-based
investment brokerage company currently expanding into a 70-member group,
is soon expected to be partially owned by Taicom. Arque Capital has a
strategic relationship with the LRG Capital Group, a financial services
company owned by Larry Goldfarb, who was formerly a Managing Director in
the Mergers & Acquisitions group at CS First Boston. Members of LRG
Capital offer M&A advisory services through Arque Capital. The Arque
Orion Group is also a strategic partner of the Aspen Family Business
Group, a premier international family business counseling group led by
David Borke, an influential expert in family business counseling
services.
Mr. Ning is a graduate of UCLA (BA - 1981) and the CORO Foundation
Fellowship in Leadership Affairs program (1982). He is currently Vice
Chair and Community Services Commissioner for the City of Torrance,
California. Mr. Ning is also a former co-President of the Board of
Directors of the Dashew International Center for Students and Scholars
at UCLA, and a Member of Congressman Ed Royce’s
Asia Pacific Congressional Advisory Committee. He currently holds FINRA
Series 7, 24 and 63 licenses in the U.S. Firms controlled by Mr. Ning
are active members of the Financial Industry Regulatory Authority
(FINRA) and the Japan Securities Dealers Association (JSDA).
IA Global expects that Mr. Ning will play an important role in future of
IA Global and that our 20% Taicom stake will prove to be an important
investment for IA Global.
About IA Global, Inc.
IA Global, Inc. ("IA Global”)
is a broadly based Services Company with a dedicated focus on growth of
existing business, together with expansion through mergers and
acquisitions in the Pacific Rim region. Our mission is to identify and
invest in business opportunities, apply our skills and resources to
nurture and enhance the performance of those businesses across key
business metrics, and to deliver accelerating shareholder value.
To realize this plan, the Company is actively expanding investments in
the business process outsourcing (which includes human resources
elements necessary to recruit and train the very large numbers of
people), B2B and financial services sectors. These sectors demonstrate
long-term growth prospects in which we, by applying our skills and
resources can add significant value to our investments. Beyond Japan,
the Company is expanding its reach to encompass, the Philippines, Hong
Kong/China, Singapore, and India and the outstanding growth
opportunities and synergies these markets present.
In Japan, IA Global is 100% owner of Global Hotline, Inc., a Business
Process Outsourcing organization, operating several major call centers
providing outbound telemarketing services for telecommunications and
insurance products. Since our acquisition of Global Hotline in June
2005, this business has expanded rapidly with the signing of significant
multi-year contracts with major corporations.
In the Asia Pacific region, IA Global is the 100% owner of Asia Premier
Executive Suites Inc. and Shift Resources Inc., companies who have now
been merged into a single Business Processing Outsourcing organization
named Global Hotline Philippines Inc. The Company has equity investments
of 25.0% in GPlus Media Co Ltd, 20.25% in Slate Consulting Co Ltd, 36.0%
in Australian Secured Financial Limited and 20% in Taicom Securities
Co., Ltd.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains forward-looking
statements (within the meaning of Section 27a of the Securities Act of
1933 and Section 21e of the Securities Exchange Act of 1934) regarding
us and our business, financial condition, results of operations and
prospects. Forward-looking statements in this report reflect the good
faith judgment of our management and the statements are based on facts
and factors as we currently know them. Forward-looking statements are
subject to risks and uncertainties and actual results and outcomes may
differ materially from the results and outcomes discussed in the
forward-looking statements. The comments concerning the profitability,
revenue and revenue growth, target markets and sectors, the Asia Global
B2B strategy and the potential IPO status are forward looking
statements. Actual results could differ materially from those projected
in the forward-looking statements, as a result of either the matters set
forth or incorporated in this report generally or certain economic and
business factors, some of which may be beyond the control of IA Global.
These factors include adverse economic conditions, entry of new and
stronger competitors, inadequate capital to support our operations and
projections of revenues and profitability. Readers are urged not to
place undue reliance on these forward-looking statements which speak
only as of the date of this press release. We undertake no obligation to
revise or update any forward-looking statements in order to reflect any
event or circumstance that may arise after the date of the press release.
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