Umatrin Holding Limited Signs MOU with Fujian Jilong Jiya Engineering for Mixed Eco-Agriculture and Tourism Development

New York, NY , Dec. 12, 2016 -- Umatrin Holding Limited (OTCQB: UMHL) (“Umatrin” or the “Company”) a diversified products company focused on the Asian market in the areas of e-commerce, property development and real estate announced today that it has entered into a Memorandum of Understanding (MOU)  to further expand and diversify its operations. 

The Company entered into a non-binding MOU for a period of one year with Fujian Jilong Jiya Engineering Consultant Pte Ltd (FJLJY), a project development company incorporated and based in China. FJLJY has offered UMHL the opportunity to acquire 51% of the company to jointly develop and manage this project.  UMHL has accepted these terms. The purpose of this MOU is to advance the project and provide the framework for implementing and progressing this acquisition of FJLJY by UMHL.

Early this year, FJLJY entered into a lease agreement for land measuring 25 million square meters located in Fujian Anxi, China.  This area is known as Chen Wu Lang Sang to use and/or develop the land for 70 years (the “Land”). At the same time, FJLJY applied and the agreement was sanctioned by the government of The People’s Republic of China of Fujian Province to develop the property into a mixed eco-agricultural and religious recreational and tourism development space for 70 years. The government also approved FJLJY to offer international investors an opportunity to jointly develop the land project accordingly.

DATO’ LIEW KOK HONG, CEO and President of Umatrin stated, “Umatrin is executing on its business strategy as a diversified company and further expanding our investment objectives. We are pleased to enter into this MOU with FJLJY and begin developing this this land project over the next three years”.

After completion of the project, the Company expects annual revenue equal to RMB 1.1 BN or $165 million USD according to today’s foreign currency rates.  

ABOUT UMATRIN

Umatrin Holding Limited is a diversified company including an e-commerce platform which sells health, beauty and wellness products throughout Asia.  Our goal is to maximize shareholder’s value through investing in a portfolio of company’s subsidiaries primarily in ASIA market and other markets including but not limited to, retail manufacturing, property development, agriculture, tourism, education and mining sectors with investments that offer strategic and leading market position, strong cash flows and strong future potential growth.  For more information, visit www.umhl.org

FORWARD-LOOKING STATEMENT  

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