Under the MOU, Beyond Blue will become the project developer in turning the French Polynesia into the travel and convention hub for the South Pacific.
New Momentum Corporation (OTCMKTS:NNAX)
HONG KONG, December 14, 2020 /EINPresswire.com/ — New Momentum Corporation Moves Forward with Tourism Development Project, Signs MOU with Government of French Polynesia
New Momentum Corporation Limited (“NNAX” or “the Company”) (OTC: NNAX) announces that its fully owned subsidiary, Beyond Blue Limited (“Beyond Blue”), has signed a memorandum of understanding (MOU) with the Government of French Polynesia that grants Beyond Blue permission to begin the development of tourism infrastructure on the island of Raiatea.
The new development on French Polynesia’s second largest island, consists of the Raiatea Cultural Westin Resort of Tautapuatea, a world-class champion 18 holes golf course, an eco-education center, an island resort at Motu Tipaemau, and the expansion of the Raiatea airport. Beyond Blue plans to invest US$700 million developing Raiatea as a world-class tourism destination.
Under the MOU, Beyond Blue will become the project developer and will own and operate the facilities as part of a development project that will evolve French Polynesia into the travel and convention hub for the South Pacific.
The expansion of the Raiatea airport will not only ease the flow of visitors to Raiatea from neighboring islands but will also facilitate direct flights from cities in Asia, the commencement of which will bring more visitors to French Polynesia from some of the strongest feeder markets in the world. In addition to strengthening the Pacific nation as a destination, the development of the airport will allow French Polynesia to become a travel hub connecting transit travellers between Asia and South America, allowing for significantly shorter travel times.
About New Momentum Corporation
New Momentum helps customers evolve their travel businesses to better capitalize on the global digital and mobile movement by building new eco enterprises aided by innovative technology. The group develops new digital platforms that help to make travelling more enjoyable. With Gagfare, travellers can “Book Now, Pay Later”, to secure the best fares and reserve flights well ahead of time. New Momentum is also the driving force behind a bold new hospitality concept that takes nature lovers and intrepid travellers to exciting new and established destinations. Its curated collection of boutique properties, each with a focus on diving, sustainability, conservation, and cultural authenticity, offers a thoroughly contemporary travel experience that is intrinsically linked to the destination, its heritage, and its culture.
For more information: http://www.newmomentumcorp.com
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This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies and certain potential transactions that they may enter into. These forward looking statements are often identified by the use of forward looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2019 and the Form 10-Q for the quarter ended June 30, 2020. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
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