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SINGAPORE – Media OutReach <\/a>– 26 January 2021\u00a0– Artivision Technologies Ltd. (SGX:5NK) (“Artivision<\/b>“,
Established in 2005 and regulated by the Monetary
The proposed acquisition of MC Payment is expected
The Company is of the view that MC Payment’s listing
Currently, MC Payment has a presence in four
Future growth avenues for the Group include
“We’re expecting a robust growth
This press release prepared by MC Payment. (the
This press release should not be relied upon as
This press release contains certain forward
It is acknowledged that the Company will not
\u00a0
To become first digital
payments service provider listed on SGX RTO of Catalist-listed
Artivision Technologies Ltd. approved at EGM with expected completion on 18 Feb
2021 Artivision Technologies Ltd.
will be renamed to MC Payment Limited Well-positioned to capitalise
on ASEAN’s booming digital payments market
…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11594"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=11594"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/11594\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=11594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=11594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=11594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nthe “Company<\/b>” or the “Group<\/b>“)
\nshareholders approved the proposed reverse takeover (RTO) of electronic
\npayments company, Mobile Credit Payment Pte. Ltd. (“MC Payment”)<\/a>, at an
\nExtraordinary General Meeting (EGM) in Singapore last Friday. With the expected
\ncompletion of the acquisition on 18 February 2021, Artivision will be renamed MC
\nPayment Limited, and is set to become the first listed digital payments services
\nfirm on the SGX-ST. <\/p>\n
\n
<\/p>\n
\nAuthority of Singapore (MAS) under the Payment Services Act 2019, MC Payment holds
\na major payment institution licence and is a Singapore-based, online-to-offline
\n(O2O) financial services technology company with a fully integrated platform and
\nwith a focus on servicing merchants in the retail, transportation and food and
\nbeverage industries.<\/p>\n
\n
<\/p>\n
\nto be completed on 18 February 2021. ZICO Capital is the Sponsor and Financial
\nAdviser in respect of the Proposed RTO and Evolve Capital Advisory is the
\nfinancial adviser to MC Payment. <\/p>\n
\n
<\/p>\n
\ncomes at an opportune time, with digital payments surging in Southeast Asia amidst
\nthe rise in online and e-commerce transactions, in light of safe-distancing
\nmeasures imposed by respective government and general public’s concerns over
\nthe COVID-19 outbreak. The Group retains a competitive edge with its accessibility,
\nomni-channel unified commerce capabilities and ability to leverage on its
\nplatform for additional business enhancing value-added services, leveraging on
\nits position as one of the few licensed payment providers with a regional
\npresence and a scalable payment infrastructure.<\/p>\n
\n
<\/p>\n
\ncountries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to
\nbecome a regional player. With digital payments in ASEAN expected to triple to
\nUS$1.5 trillion (S$2 trillion) by 2030[1],
\nthe Group is well-placed to capitalise on this significant and growing market
\nopportunity, given its established infrastructure and expanding geographical footprint.<\/p>\n
\n
<\/p>\n
\npenetrating new geographical markets through mergers and acquisitions, joint
\nventures and\/or franchises, developing new technology and other payment
\nsolutions, as well as rolling out new value-added services for merchants, to
\nboost customer retention and expand its customer base.<\/p>\n
\n
<\/p>\n
\ntrajectory for the Southeast Asian payments industry, following a surge in
\ndigitisation, spurred by increased access to 5G mobile technology, blockchain
\nand AI, coupled with the rapid rise of e-commerce. We look forward to an
\nexciting future in the digital payments industry, one that is filled with immense
\npossibilities and opportunities,”<\/i><\/b> <\/b>said
\nMC Payment Chief Executive Officer, Anthony Koh.<\/p>\n
\n
\ninformation was extracted from a media release entitled “Digital payments in
\nAsean to triple to US$1.5t by 2030: report” published by The Business Times on
\n16 October 2020, which can be accessed at: https:\/\/www.businesstimes.com.sg\/asean-business\/digital-payments-in-asean-to-triple-to-us15t-by-2030-report#:~:text=DIGITAL%20payments%20in%20Asean%20are,Global%20Research%20Asean%20Next%20report<\/a>., data
\naccessed on 26 January 2021.<\/p>\n
\n“Company”) does not constitute, or form part of, an offer to sell or
\nthe solicitation of an offer to subscribe for or buy any securities, nor the
\nsolicitation of any vote or approval in any jurisdiction, nor shall there be
\nany sale, issue or transfer of the securities referred to in this press release
\nin any jurisdiction in contravention of applicable law. Persons requiring
\nadvice should consult their stockbroker, bank manager, solicitor, accountant or
\nother independent financial consultant. <\/p>\n
\na representation of any matter that an advisor or potential investor should
\nconsider in evaluating the Company. The Company and its related bodies
\ncorporate or any of its directors, agents, officers or employees do not make any
\nrepresentation or warranty, express or implied, as to the accuracy or
\ncompleteness of any information, statements or representations contained in
\nthis press release, and they do not accept any liability whatsoever (including
\nin negligence) for any information, representation or statement made in or
\nomitted from this press release. <\/p>\n
\nlooking statements which involve known and unknown risks, delays and
\nuncertainties not under the Company’s control which may cause actual results,
\nperformance or achievements of the Company to be materially different from the
\nresults, performance or expectations implied by these forward looking
\nstatements. The Company makes no representation or warranty, express or
\nimplied, as to or endorsement of the accuracy or completeness of any
\ninformation, statements or representations contained in this press release with
\nrespect to the Company.<\/p>\n
\nundertake any obligation to release publicly any revisions or updates to these
\nforward-looking statements to reflect events, circumstances or unanticipated
\nevents occurring after the date of this press release except as required by law
\nor by any appropriate regulatory authority.<\/p>\n<\/div>\n<\/div><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"