NEW YORK and HO CHI MINH CITY, Vietnam, Aug. 14, 2012 /PRNewswire/ -- Star
Entertainment Group, Inc. (PINKSHEETS: SETY) today announced the
appointment of new CEO/Chairman of the Board, Mr. Nhue A. (N.A.) Le
from Ho Chi Minh City,
Vietnam.
Additionally, Mr. Khiem Nguyen,
also from Ho Chi Minh City will
take over responsibilities as new CEO for both Zenetek and
Modiax.com. Star Entertainment's new headquarters/operational
facilities will be relocated to Ho Chi
Minh City, Vietnam as part of this new transition.
Mr. Le, an investment banking executive with a degree and solid
background in Computer Software Services, has played an
instrumental role in financing and corporate restructuring
technology firms in Vietnam
and Southeast Asia for the past
several years. Mr. Le will assume day-to-day management role
for Star Entertainment and spearhead its future merger and
acquisition activities.
Mr. Nguyen, a former Software Developer/Consultant with several
top tier consulting firms in US and aboard for the past several
decades, is Star's top candidate to run both Zenetek and
Modiax.com. He has extensive consulting services, software
development and maintenance which will play a vital role in keeping
check and balances on all current and future Web 2.0 and Mobile
Apps developmental work for both companies and operating
subsidiaries.
"I am extremely delighted to appoint my successor, Mr.
N.A. Le as the new CEO/Chairman of
the Board for Star Entertainment Group. Mr. Le, with his
extensive Asian investment banking background and contacts, will
focus his efforts in spearheading major merger and acquisition
initiatives for Star", said Michael
Clarkson, CEO of Star Entertainment Group.
"Additionally, Mr. Le will be involved in all financing aspects
for the Company, while Mr. Nguyen will focus all his technical
background, contacts and know-hows to reward our investors with
killer apps development and first-to-market
social/entertainment platforms that will increase Star's
market capitalization substantially", continued Mr. Clarkson.
The closing date for Zenetek acquisition will be tentatively
scheduled for Friday, August 17,
2012.
About Star Entertainment Group
Star Entertainment Group, Inc. is an independent investment,
management, and holding company focusing on new media and digital
content, delivery and monetization of multi-dimensional Online
Customer Communities through the integrated use of online;
interactive, participatory mobile applications; proprietary search
capabilities and intuitive advertising platforms. The Company will
operate as a central hub, utilizing our strengths in M&A,
capital and resource management and will proactively minimize risk
by teaming with experienced technologies operators, leveraging
their experience and knowledge.
About Zenetek
Vietnam-based software
consulting company dedicated to software consulting, programming
and development services. The Company is currently developing
social media/networking-based software products that provide
clients in connection with Web 2.0, social media/networking,
mobile applications.
About Modiax.com
Modiax.com, a wholly owned subsidiary of Zenetek, is the
developer and operating subsidiary of Zenetek engaged in creating
mobile gaming, social media and entertainment applications for
mobile phones.
Safe-Harbor Statement
This information includes certain "forward-looking statements."
The forward-looking statements reflect the beliefs, expectations,
objectives and goals of the Company management with respect to
future events and financial performance. They are based on
assumptions and estimates, which are believed reasonable at the
time such statements are made. However, actual results could differ
materially from anticipated results. Important factors that may
impact actual results include but are not limited to commodity
prices, political developments, legal decisions, market and
economic conditions, industry competition, the weather, changes in
financial markets and changing legislation and regulations. Matters
discussed in this press release may contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include
but are not limited to risks and uncertainties associated with the
impact of economic, competitive and other factors affecting the
Company and its operations, markets, product, and distributor
performance, the impact on the national and local economies
resulting from terrorist actions, and U.S. actions subsequently;
and other factors detailed in reports filed by the Company.
Forward-looking statements are intended to qualify for the safe
harbor provisions of Section 21E of the Securities and Exchange Act
of 1934, as amended.
Star Entertainment Group
info@StarEntertainGroup.com
(570) 216-4204
SOURCE Star Entertainment Group, Inc.
