Press Release

Issued by Hongkong Jet.

April 11, 2016

Hongkong Corporate Jet Management Limited has made a formal offer to purchase Asia Jet Partners Limited and an LOI has been signed between the parties. With the due diligence process complete and with no further changes anticipated, the companies look forward to closing within Q2 2016.

In the proposed agreement Hongkong Jet would acquire Asia Jet together with its subsidiary in Shanghai, China namely; Asia Jet Partners (Shanghai) Limited and its joint venture business unit, Asia Jet Partners (Malaysia) Bhd. The Malaysian JV partner is Berjaya Vacation Club Berhad, itself a subsidiary of publically traded Berjaya Corporation Berhad.

The acquisition will strengthen the position of both companies, expanding their collective service offering and economies of scale benefits to their enlarged client base. From an aircraft charter perspective it will for instance be possible to offer services under USA, Bermuda and Hong Kong commercial registrations, a variety of choice which is quite unique in Asia. “The Asia Jet brand is well established and known for being a leading sales and marketing centric organisation that has acted with the utmost integrity and professionalism over its eight year history. Linking hands with Hongkong Jet and its expansive aviation parent group became an obvious strategic fit for us within Asia. I am excited about our future prospects together and the benefits a larger group can bring to our loyal clients” said Mike Walsh CEO of Asia Jet.

“Consolidating the service offerings of Hongkong Jet and Asia Jet will provide clients with a unique and comprehensive suite of services, not readily available elsewhere in Asia” said Denzil White CEO of Hongkong Jet.

ABACE16 attendees are invited to visit the two companies inaugural joint exhibition booth @ P608 to meet the teams and learn more about their collective offerings.