Business
Alset EHome International Subsidiary GigWorld Inc. Purchases 18% Equity Interest in Value Exchange International, Inc. (VEII)
HONG KONG--(BUSINESS WIRE)-- Value Exchange International, Inc. (OTCQB: VEII)(“Value Exchange”), a provider of Mobile Payment Gateway (QR code purchase at
About this update from Alset Inc.
[{"type":"text","content":" HONG KONG--(BUSINESS WIRE)--\nValue Exchange International, Inc. (OTCQB: VEII)(“Value Exchange”), a provider of Mobile Payment Gateway (QR code purchase at POS) customer-centric solutions for the retail industry in Asia, announced today the private sale to GigWorld, Inc., a subsidiary of Alset EHome International Inc. (NASDAQ:AEI)(“Alset”), of an 18% common stock interest in Value Exchange. The purchase was made for investment purposes and as an initial step in possible strategic business cooperation between Value Exchange and Alset.\n\n\"This synergistic investment fits nicely into Value Exchange’s business development plans by providing fresh capital and potential strategic growth opportunities in new markets through ties with Alset. More importantly, Value Exchange can tap into the extensive management and capital markets expertise of Chan Heng Fai, Alset’s Chairman and Chief Executive Officer, as part of this new relationship, \" said Kenneth Tan, Chief Executive Officer of Value Exchange. “We look forward to exploring possible future synergies with Alset and other companies led by Mr. Chan in our efforts to expand Value Exchange’s market reach in Asia,” added Mr. Tan.\n\n\"Value Exchange possesses strong IT capabilities, servicing large multinational companies on a global scale. This synergistic investment will prove to be beneficial for the group as we expand and strengthen our global payment system platform,\" stated Mr. Chan.\n\nThe $650,000 investment under the private placement of Value Exchange common stock will be used for general working capital.\n\nAbout Value Exchange\nValue Exchange is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila in the Philippines and Kuala Lumpur, Malaysia. Through its subsidiaries, Value Exchange provides. By integrating market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. Value Exchange's retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia. Value Exchange, through its operating subsidiaries, provides POS systems installation, maintenance, software, and systems support and solutions. ...