The GOM Ministry of Mining estimates that there are approximately $56.96 billion of industrial and infrastructure projects underway in Mongolia.
ULAANBAATAR, Mongolia (PRWEB) May 19, 2014
Consolidation Services Inc (now Mongolia Holdings, Inc., the "Company") (OTCQB: MNHD) and its wholly owned subsidiary, Mongolia Equipment Rental Corporation, announced that the Company has appointed current Managing Director of Emerging Markets Capital Jorge Ramiro Monroy to its Advisory Board.
Mr. Ramiro is also an advisor to and a shareholder of the Mongolian investment firm Standard Capital, which has twelve subsidiaries and five joint venture companies in the fields of finance, agriculture, construction, road building, information technology, trade and other services. Standard Capital is also a shareholder in 60 companies in a variety of other sectors.
Previously, Mr. Ramiro worked for Frontier Securities, a Mongolia-based investment advisory and securities brokerage, where he was part of the Special Investments team in the natural resources division. In this capacity, he participated in the funding of Mongolian companies by Hong Kong investors.
Mr. Ramiro holds a Bachelor’s degree from the State University of New York and an MBA in Finance from the Hong Kong University of Science and Technology. He is fluent in English, Spanish, Hindi and Portuguese and speaks conversational Cantonese.
Company Board Member Roy Tashi, OAM stated: “Considering his emerging market finance experience and deep relationships in the Mongolian market, Jorge Ramiro will make a tremendous addition to the team during this exciting period of our Company’s expansion into one of the fastest growing economies in the world, Mongolia”
Consolidation Services Inc., through its wholly owned subsidiary Mongolia Equipment Rental Corporation, is the Hertz Equipment Rental franchisee in Mongolia. The exclusive franchise for Mongolia allows the Company to operate a business of renting, selling and maintaining equipment for use in construction, mining, materials-handling, commercial and industrial activities 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. With double-digit GDP growth, a predominant mining sector and an influx of outside investment, the country is beginning to experience a boom in commercial and residential construction. Additionally, the Government of Mongolia has committed to significant infrastructure development to enable more efficient extraction and delivery of its natural resources to international buyers - primarily neighboring China. Mongolia is an independent, Western-friendly democracy of approximately three million people, leveraging its natural resource base and creating a thriving modern economy.
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.