updated 1/19/2011 9:18:16 AM ET 2011-01-19T14:18:16

HONG KONG, Jan. 19, 2011 (GLOBE NEWSWIRE) -- Man Shing Agricultural Holdings, Inc. (OTCBB:MSAH) ("Man Shing" the "Company," "we," "us," or "our"), located in the Shandong Province and one of the largest Chinese exporters of fresh ginger to Japan, the United Kingdom, and the Netherlands, today announced that it signed an agreement with Mr. Nagada Koumonn, a farmland owner in the town of Yinayityou within the Simane County of Japan, which will expand Man Shing's ginger production. The agreement was executed on December 17, 2010 and runs for a term of one year from February 1, 2011 to January 31, 2012.

According to the agreement, Man Shing will lease a ginger farm which sits on 70,186 square meters of land in Japan. Man Shing will be responsible for the production and management of the ginger farm, including distribution of the ginger, and Mr. Nagada Koumonn will be responsible for planting the ginger and providing the labor force. 

"We are looking forward to working with Mr. Nagada Koumonn and producing fresh ginger in Japan," stated Mr. Shili Liu, Chairman and Chief Executive Officer of Man Shing. "We believe that this agreement will help to further our growth and assist us in creating an international farming presence. Japan's Simane County, where the farm is located, is a mild ocean climate with temperatures that are ideal for planting ginger. We believe that our presence in Japan will present us with several important advantages, including a higher price point for our ginger. Additionally, due to the high quality and safety standards enforced in Japan, we anticipate increased customer confidence," concluded Mr. Shili Liu.

About Man Shing Agricultural Holdings, Inc.

Man Shing Agricultural Holdings, Inc., through its operating subsidiary in Shandong of China, is focused on the production and processing of fresh ginger and other select vegetables such as onion and garlic. The Company produces high quality ginger which meets the requirements of the British Retail Consortium Global Food Standard. The Company focuses on customers located in countries such as Japan and the European Union which are food safety oriented. For further information about Man Shing Agricultural Holdings, Inc., please visit the Company's website at http://www.msaginger.com/

Forward Looking Statement:

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations of signing new customers and contracts, developing new products, projected revenues and earnings, and the success of new products. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. Man Shing Agricultural Holdings, Inc. undertakes no obligation to update the forward-looking information contained in this press release.

CONTACT: Company Contact:
         Man Shing Agricultural Holdings, Inc.
         Mr. Kenny Chow, CFO
         Investor Contact:
         HSC Global, an affiliate of HC International, Inc.
         Alan Sheinwald, Managing Director
         (914) 669-0222

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com