HONG KONG, March 21, 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, is providing a shareholder update on its operations in Japan. On March 11, 2011, an earthquake followed by a tsunami hit the northeastern coast of Japan near Honshu. These unfortunate events have affected many people in Japan.
Man Shing exports fresh ginger products to Japan and recently announced the lease of land in Japan to expand production. The Company has built long-standing relationships with its customers in Japan who are located in mid to southern cities of Japan. The shipping ports to these cities have not been affected by the natural disaster and normal operations have continued with no disruptions to date.
In December 2010, Man Shing signed an agreement with Mr. Nahada Koumonn, a farmland owner in the town of Yinayityou within the Shimane County of Japan, located in western Japan, to expand production. The natural disaster occurred approximately 1,500 kilometers from this farmland and it has not been affected. It is currently anticipated that planting will occur as scheduled in mid-April.
As a result of the natural disaster, several major nuclear power plants have been damaged and the country has declared a nuclear emergency. Currently, the amount of nuclear radiation is unclear, but it is feared that the radiation may damage Japan's domestic agricultural products. If such damage occurs, we believe that companies such as Man Shing who export high quality fresh products to Japan will be looked upon to provide an increased quantity of products for the people of Japan. The effect on Japan's domestic products and increased reliance on imports may also cause food prices to rise. Unlike other industries, agricultural products are a necessity of everyday life and even more so during a tragedy such as this. Man Shing has the inventory and workforce necessary to meet the demand of the Japanese people.
Mr. Shili Liu, Chairman and CEO of Man Shing, stated, "I am deeply saddened by what has occurred in Japan, a place where our company has done business for many years and I personally have built long lasting relationships. Now more than ever, the people of Japan need our high-quality products. Fortunately, the shipping ports of our customers have not yet been affected and, if requested to do so by our customers, we can increase shipment quantities as needed during this time. Additionally, our recently leased farmland in Japan has not yet been affected and we will begin planting as scheduled in mid April. The thoughts and prayers of myself and the entire Man Shing team go out to the people of Japan."
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. Shili Liu, CEO, Chairman and president paulson@msaginger.com Mr. Kenny Chow, CFO kenny@msaginger.com +86-536-464-4888 +852-2530-3122 http://www.msaginger.com/ Investor Contact: HSC Global, an affiliate of HC International, Inc. Alan Sheinwald, President (914) 669-8885 Alan.Sheinwald@HSCGlobal.net www.HSCGlobal.net