Posted on 03/06/2020 4:03:32 PM PST by E. Pluribus Unum
A Beijing-based company was ordered by the United States on March 6 to divest all interests from a Maryland-based company that it acquired back in September 2018.
President Donald Trump ordered Beijing Shiji Information Technology to divest all interests in StayNTouch, a hotel property management software company, over national security concerns. The Chinese Communist Party requires most of the companies in their country to share information with the party’s intelligence sector.
In the order, Trump said there was “credible evidence” that led him to believe that Shiji “might take action that threatens to impair the national security of the United States.” The order prohibits the acquisition of StayNTouch or any of its assets. Shiji is an IT company that provides software to different industries.
The divestiture must be completed within 120 days, according to written conditions from the Committee on Foreign Investment in the United States. The order also states that Shiji and any of its other subsidiaries or affiliates must immediately “refrain from accessing, hotel guest data through StayNTouch.”
StayNTouch lists Shiji as their parent company on its website. StayNTouch states that they were was founded in 2013 by Jos Schaap. The company describes itself as a “mobile hotel property management system (PMS) company focused on developing solutions that help hotels raise service levels, drive revenues, reduce costs, and ultimately change the way hotels can captivate their guests.”
The website also states that the Shiji Group acquired StayNTouch in September of 2018, after an initial investment in the company’s 2016 Series A fundraiser. StayNTouch did not respond to a request for comment by The Epoch Times on the new order.
(Excerpt) Read more at theepochtimes.com ...
So glad to have someone as POTUS who is looking out for this country!!!
New York City’s landmark Waldorf Astoria is owned by the Chinese. Dajia Insurance Group.
A Chinese company formerly known as Anbang Insurance Group, bought the New York City icon for $1.95 billion in 2015,
It was closed down for renovations and conversions into pricey condos.
The Chinese also own the group of Radison Hotels.
Seems like forever since we’ve had it, doesn’t it?
It really does seem like forever since we’ve had it.
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