CIBT Signs Training Material Contract With Schneider Electric Investment (China)
CIBT Canadian Institute of Business & Technology Corporation (CIBT), a subsidiary of Capital Alliance Group Inc., is pleased to announce that it has signed a corporate MBA training contract with Schneider Electric Investment (China). The total value of the contract is approximately $610,000. The length of the contract is for a 14-month period. The terms of the contract call for this payment to be divided into four equal installments with an installment to be paid prior to the commencement of each one of the four scheduled sessions. The first session will begin on January 8th, 2001.
Schneider Electric is one of the world’s leading specialist manufacturers of equipment for electrical distribution, industrial control and automation. The company employs over 67,000 people in 130 countries and encompasses four international brands; Merlin Gerin; Modicon; Square D; and Telemecanique.
Schneider Electric Investment (China) currently has 3 Branch Offices, 16 Regional Offices, 8 Joint Ventures, 3 Logistic Centers, and more than 300 Distributors. The company currently employs 2,300 staff in China.
Approximately 40 of Schneider’s 200 middle-senior managers will be amongst the first group from the company to receive CIBT’s MBA training program. In response to the increasing demand for quality management training in China, CIBT is planning to use the Schneider program as a model for marketing similar programs to both local and major foreign invested companies in China.
Charles Chen (President of CIBT China) states, “This latest contract underscores the efforts we are taking to position CIBT as a leading provider of both online and traditional educational services throughout China.”
Capital Alliance Group Inc. and CIBT Canadian Institute of Business & Technology Corp. further reports that they have each changed their respective Fiscal Year End date to December 31. The last day of the old financial year for both companies is January 31, 2000, and the last day of the transition year for both companies is December 31, 2000. The periods require the comparative reporting periods to be covered in the interim and annual financial statements (which are to be filed for the transition years as well as the new financial years for both companies) are as follows:
Interim Financial Statements
First Quarter – April 30, 2000 and 1999
Second Quarter – July 31, 2000 and 1999
Third Quarter – October 31, 2000 and 1999
11 Month Period Ended – December 31, 2000 and January 31, 2000
New Financial Year:
First Quarter – March 31, 2001 and April 30, 2000
Second Quarter – June 30, 2001 and July 31, 2000
Third Quarter – September 30, 2001 and October 31, 2000
Fourth Quarter – December 31, 2001 and December 31, 2000
Annual Financial Statements
Transition Year – December 31, 2000 and January 31, 2000
New Financial Year – December 31, 2001 and December 31, 2000
On Behalf of the Board of Directors of CIBT.
President and C.E.O
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