SOURCE: Huayue Electronics inc

Huayue Electronics inc

August 06, 2015 07:21 ET

HUAY Board Approves Name Change

Kazakhstan Subsidiary to Open LED Assembly Plant in Almaty, in Joint Cooperation With Korean Supplier

NEW YORK, NY--(Marketwired - Aug 6, 2015) - Huayue Electronics Inc (OTC PINK: HUAY) (the "Company") announced today that its Board of Directors and majority shareholders have approved a name change of the Company to TARSIER LTD., which is expected to occur in late September or early October, 2015.The new name reflects the Company's divestiture of its Chinese subsidiary and reinforces management's commitment to its worldwide expansion plans. Moving forward, all of the innovative, energy saving products and services, as well as the cutting-edge, Smart City technologies that the Company intends to develop and/or produce, will be marketed under the TARSIER name. TARSIER also plans to produce a line of LED Street Lights and related Network software that is expected to save cities money by better managing their available resources. As planned, these highly-intelligent Street Light Networks will be capable of providing a city's control center with real time video and other critical monitoring information (e.g. weather, traffic flow, etc.) in addition to the anticipated energy savings. When properly managed, this wealth of data will help municipalities worldwide improve their city's efficiency and increase the overall safety and quality of life enjoyed by its residents.

SavWatt Kazakhstan, the Company's subsidiary operating in Central Asia (a market of 150 million people) has plans to open an assembly plant in Almaty, Kazakhstan, in cooperation with the AMO Group of Korea (http://www.amoluxe.co.kr). Operations are planned to begin in the fourth quarter this year. This local operation should enable TARSIER to participate, on a preferred basis, in government tenders for LED Street Lights that have been earmarked to encourage the creation of technology-related employment opportunities as well as the development of new technologies within Kazakhstan.

Isaac H. Sutton, the Company's CEO, stated "We are investing in a growing emerging market. Kazakhstan has plans and funding for 74,000 new LED street lights through the European Bank for Reconstruction and Development (EBRD). Emerging markets tend to adopt new technologies faster than other markets and Kazakhstan would be a testing ground for TARSIER's newest Smart City technology. Additionally, Kazakhstan is preparing for its 2017 Astana Expo (https://expo2017astana.com/en/), which touts its "Future Energy" theme. The increased promotion and awareness of the Astana Expo provides TARSIER with a near-term opportunity to explore additional LED sales opportunities in the region."

About Huayue Electronics Inc. (soon to be known as TARSIER).

TARSIER is seeking to become a GLOBAL ENERGY SOLUTION PROVIDER with a focus on SMART CITIES TECHNOLOGIES and SUSTAINABLE ENERGY PRODUCTS & SERVICES, through acquisitions and organic growth. TARSIER plans to operate though several subsidiaries that manufacture, develop and distribute LED Bulbs and Fixtures, develop and manage Intelligent LED/SmartCity products, provide Energy Audits, resell Electric and Gas in U.S. Deregulated Markets and manage Energy Demand Response and Battery Storage through proprietary software. For more information on TARSIER please visit the Company's web site at www.tarsierltd.com

Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Huayue Electronics Inc.( the "Company") that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believes," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. The Company cautions you that any forward-looking information provided by or on behalf of the Company is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. The Company's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond the Company's control. In addition to those discussed in the Company's press releases, public filings, and statements by the Company's management, such statements may include, but are not limited to, the Company's estimate of the sufficiency of its existing capital resources, the Company's ability to raise additional capital to fund future operations, the Company's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match the Company's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. The Company does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

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