NQ Mobile(TM) Initiates Process to Transfer Approximately USD $100 million of Term Deposits to an Account Opened at Standard Chartered Bank
BEIJING and DALLAS, Oct. 29, 2013 /PRNewswire/ --NQ Mobile Inc. (NYSE: NQ) ("NQ Mobile" or the "Company"), a leading global provider of mobile Internet services, today announced that it has completed the process of transferring to a bank account opened at Standard Chartered Bank (the "Standard Chartered Account") approximately RMB 100 million (or USD $16.4 million) of NQ Mobile's term deposits that were formerly held at Industrials Bank Co. Ltd (as previously detailed in a news release issued on Friday, October 25th).
(Logo:photos.prnewswire.com/prnh/20121224/CN34262LOGO )
The account was opened today and the initial term deposit of approximately RMB 100 million (or USD $16.4 million) has been transferred to the Standard Chartered Account. The remaining portion of the approximate USD $100 million to be transferred will be processed soon. The Company has authorized Standard Chartered Bank to allow an independent verification of the account validity and provide related details to any interested investor who requests the information in good faith. As a result of transferring term deposits to the Standard Chartered Account, NQ Mobile will forfeit certain earned interest and will provide further updates on the financial impact on the Company's Q3 earnings release scheduled for November 12, 2013. ....
www.finanznachrichten.de/...at-standard-chartered-bank-008.htm