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Bona Coffee Holdings Corp. Announces Agreement With Mall of Asia
MANILA, PHILIPPINES -- (Marketwire) -- 12/01/08 -- Bona Coffee Holdings Corp. (PINKSHEETS: BCHC) announced that Bona Coffee Company Corp. has signed an agreement toopen its third coffee shop in the Philippines. The newest addition to theCompany's chain of coffee shops will be located in SM Prime Holdings' Mallof Asia. The Bona Coffee Shop in the Mall of Asia is expected to be openedfor business early in 2009. Bona Coffee Shops contribute 100% of any netprofits to the parent Company, BCHC.
Bona Coffee Company was approached by Mall of Asia to open a Branch in theMall's premier bayside promenade area overlooking the famous Manila Bay.Mall of Asia, owned and operated by SM Prime Holdings (listed on thePhilippine Stock Exchange), is the largest mall in the Philippines and allof Asia, and is the third largest in the world, comprised of 386,224 squaremeters (4.15 million square feet, or 95.4 acres), and houses the largestselection of retail heaven under one roof. Mall of Asia has Manila's firstand only I-MAX Theatre as well as a thriving entertainment center. TheMall attracts daily foot traffic of 200,000 people.
"Since we will be the only coffee shop open 24/7 in the area, we aregearing up for even greater sales and greater market share, because of the200,000 a day foot traffic, early morning joggers, and the hundreds of callcenter agents who work around the clock at One E-Com center," said BCHC'sPresident/CEO, Jose Luis Gonzalez.
One E-Com Center, which is SM Prime's 10-story 105,857 square meter(1,139,000 square feet) building, is populated by IT-based locatorcompanies and support offices for business process outsourcing. SM Prime,a unit of conglomerate SM Investments Corp. (listed on the Philippine StockExchange) which is controlled by Henry Sy, one of the Philippines' richestmen, said in a statement to the Philippine Stock Exchange that SMIC expectsto spend P10 billion ($200 million) next year, up from P6 billion ($120million) this year. SM Prime, which recorded a 9 percent increase in netincome in the third quarter, also said that 70 percent of the 2009 capitalspending plan would go to the construction of new shopping malls andexpansion of existing ones.
Bona Coffee Holdings Corp. (www.bonacoffeeholdingscorp.com), incorporatedin the Philippines, is a holding company whose businesses consist of coffeeshops, furniture & jewelry stores, real estate, a casual wear clothingline, and a spa in Manila, Philippines. The home office of Bona CoffeeHoldings Corp. is Unit H, PSCOR Building, Elizalde Street, BF CommercialPlaza, Paranaque City, 1720 Philippines.
Safe Harbor Statement:
The information contained herein includes forward-looking statements. Thesestatements relate to future events or to our future financial performance,and involve known and unknown risks, uncertainties and other factors thatmay cause our actual results, levels of activity, performance, orachievements to be materially different from any future results, levels ofactivity, performance or achievements expressed or implied by theseforward-looking statements. You should not place undue reliance onforward-looking statements since they involve known and unknown risks,uncertainties and other factors which are, in some cases, beyond ourcontrol and which could, and likely will, materially affect actual results,levels of activity, performance or achievements. Any forward-lookingstatement reflects our current views with respect to future events and issubject to these and other risks, uncertainties and assumptions relating toour operations, results of operations, growth strategy and liquidity. Weassume no obligation to publicly update or revise these forward-lookingstatements for any reason, or to update the reasons actual results coulddiffer materially from those anticipated in these forward-lookingstatements, even if new information becomes available in the future. Thesafe harbor for forward-looking statements contained in the SecuritiesLitigation Reform Act of 1995 protects companies from liability for theirforward-looking statements if they comply with the requirements of the Act.
For further information, contact:Bona Coffee Holdings Corp.Investor Relations1-888-536-1431
"Since we will be the only coffee shop open 24/7 in the area, we aregearing up for even greater sales and greater market share, because of the200,000 a day foot traffic, early morning joggers, and the hundreds of callcenter agents who work around the clock at One E-Com center," said BCHC'sPresident/CEO, Jose Luis Gonzalez.
One E-Com Center, which is SM Prime's 10-story 105,857 square meter(1,139,000 square feet) building, is populated by IT-based locatorcompanies and support offices for business process outsourcing. SM Prime,a unit of conglomerate SM Investments Corp. (listed on the Philippine StockExchange) which is controlled by Henry Sy, one of the Philippines' richestmen, said in a statement to the Philippine Stock Exchange that SMIC expectsto spend P10 billion ($200 million) next year, up from P6 billion ($120million) this year. SM Prime, which recorded a 9 percent increase in netincome in the third quarter, also said that 70 percent of the 2009 capitalspending plan would go to the construction of new shopping malls andexpansion of existing ones.
Bona Coffee Holdings Corp. (www.bonacoffeeholdingscorp.com), incorporatedin the Philippines, is a holding company whose businesses consist of coffeeshops, furniture & jewelry stores, real estate, a casual wear clothingline, and a spa in Manila, Philippines. The home office of Bona CoffeeHoldings Corp. is Unit H, PSCOR Building, Elizalde Street, BF CommercialPlaza, Paranaque City, 1720 Philippines.
Safe Harbor Statement:
The information contained herein includes forward-looking statements. Thesestatements relate to future events or to our future financial performance,and involve known and unknown risks, uncertainties and other factors thatmay cause our actual results, levels of activity, performance, orachievements to be materially different from any future results, levels ofactivity, performance or achievements expressed or implied by theseforward-looking statements. You should not place undue reliance onforward-looking statements since they involve known and unknown risks,uncertainties and other factors which are, in some cases, beyond ourcontrol and which could, and likely will, materially affect actual results,levels of activity, performance or achievements. Any forward-lookingstatement reflects our current views with respect to future events and issubject to these and other risks, uncertainties and assumptions relating toour operations, results of operations, growth strategy and liquidity. Weassume no obligation to publicly update or revise these forward-lookingstatements for any reason, or to update the reasons actual results coulddiffer materially from those anticipated in these forward-lookingstatements, even if new information becomes available in the future. Thesafe harbor for forward-looking statements contained in the SecuritiesLitigation Reform Act of 1995 protects companies from liability for theirforward-looking statements if they comply with the requirements of the Act.
For further information, contact:Bona Coffee Holdings Corp.Investor Relations1-888-536-1431
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