Israel's JCS Group today announed a significant strategic cooperation agreement between it and Hong Kong's Sun Wah Group (SWG).
Under the ageement, JCS CEO Gaby Rosenberg was appointed as an advisor to the board of directors of SWG and Sun Wah Media (SWM). Rosenberg will advise SWG/SWM on advancing Israeli media and advertising technologies in China including post production, visitor centers, and production of entertainment, imaging and cellular content.
Rosenberg will concentrate on implementing in China advanced Israeli technologies in the fields of media and interactive advertising developed by Israeli companies with which JCS has ongoing business relations.
In addition, the two sides are studying the possibility of establishing a joint company in Hong Kong in the near future.
"I'm pleased with the appointment. This is not only about professional recognition and esteem at the highest level, but also exposure to intensive international activity in the most active market in the modern world. I am convinced that this appointment will combine both learning and exposure to unique business opportunities" said Rosenberg.
JCS Group began its penetration of the Chinese communication and cellular market in 2004. At that time, the cellular content company Chooz, owned by JCS, signed a cooperation agreement with a Chinese company which was interested in the localization of a number of Chooz's content for the Chinese cellular market and the adaptation of this content in China.
Shortly after this, JCS won a Chinese post production tender and provided the Shenzhen TV network with branding and full screen design for its satellite channel. JCS is now supplying creative services via JCS Post Production.
The first contact between Rosenberg and Jonathan Choi, president and chairman of Sun Wah Group and chairman of Kingsway Capital Group, took place one year ago. SWG is one of the largest businesses in China, Hong Kong and all Asia, with a reported yearly turnover of over $5 billion. SWG entered the media field three years ago via SWM, which is involved mainly in movie and TV serial production and distribution, movie house operation, importing and distributing movies to China, book publishing, and running the Chinese entertainment site Mandarinnet.com.
Published by Globes [online], Israel business news - www.globes.co.il - on Wednesday, November 09, 2005