Construction & installation in Mongolia figures rose by 79% last year.
Ulaanbaatar, Mongolia (PRWEB) November 10, 2014
Mongolia Holdings, Inc. (OTCQB: MNHD) is pleased to announce the appointment of Marcum LLP as its new auditor. Marcum LLP is replacing GBH CPA’s PC. There were no disagreements between the Company and GBH on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the United States. Ranked #15 nationally, Marcum LLP offers the resources of 1,300 professionals, including over 160 partners, in 22 offices throughout the U.S., Grand Cayman and China. Headquartered in New York City, the Firm's presence runs deep, with full-service offices strategically located in major business markets. Marcum is a member of the Marcum Group, an organization providing a comprehensive range of professional services spanning accounting and advisory, technology solutions, wealth management, and executive and professional recruiting.
Former US Ambassador E. Michael Ussery, the Company’s Chairman, commented: "As the only PCAOB authorized and GAAP qualified public company auditing firm in the region and with a full staff in Beijing, a short flight from Mongolia’s capital city of Ulaanbaatar, they were the best choice.”
About the Company:
Mongolia Holdings, Inc., through its wholly owned subsidiary Mongolia Equipment Rental Corporation, is the Hertz Equipment Rental franchisee for Mongolia. This exclusive franchise allows the Company to operate a business of renting, selling, and maintaining equipment for use in construction, mining, materials-handling, commercial, and industrial activities in Mongolia under the unique plan and system of Hertz Equipment Rental Corporation and Hertz Equipment Rental System.
Mongolia is one of the fastest growing economies in the world, led by the extraction of vast deposits of coal, copper, gold, uranium, iron ore and other commodities. Its proximity to four of the largest economies in the world -- China, Russia, Japan, and South Korea -- creates trade and cross-border investment opportunities that are distinct from those available to competing resource-rich countries. These natural advantages, along with recent pro-business changes in foreign investment rules, securities laws, and mining regulations, have the nation poised for sustained growth in the construction sector for infrastructure development and industrialization resulting from large-scale mining projects. Mongolia is an independent democracy of approximately three million people dedicated to becoming the economic corridor and financial hub of Eurasia.
For more information, please visit http://MNHD.mn
Forward Looking Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and under the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. Without limiting the foregoing, the words "believe," "anticipate," "plan," "expect," "seek," "potential," "estimate," and similar expressions are intended to identify forward-looking statements. These statements relate to future events, including the Company’s expectations regarding Mongolia’s economy, development, and potential growth, and the Company’s and its subsidiaries’ business and operations in Mongolia or to the Company's or its subsidiaries’ future financial performance, and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. Such risks, uncertainties, and other factors which could impact the Company and its subsidiaries and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.