Business
Alset EHome International Subsidiary GigWorld Inc. Purchases 18% Interest in Value Exchange International, Inc. (VEII)
BETHESDA, MD / ACCESSWIRE / April 8, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the "Company"), a diversified holding company principally engaged
About this update from Alset Inc.
[{"type":"text","content":"BETHESDA, MD / ACCESSWIRE / April 8, 2021 / Alset EHome International Inc. (NASDAQ:AEI) (the \"Company\"), a diversified holding company principally engaged through its subsidiaries in EHome development and digital transformation technology, today announced that its subsidiary GigWorld Inc. has entered into a Securities Purchase Agreement to purchase an 18% ownership interest in Value Exchange International, Inc. (VEII) (\"Value Exchange\").Value 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, Indonesia. Through its subsidiaries, Value Exchange provides Mobile Payment Gateway (QR code purchase at POS) customer-centric solutions for the retail industry in Asia. 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.Customers of Value Exchange include Hewlett Packard, 7-Eleven, Japan Airlines, Robinsons Retail Holdings Inc., Lenovo, Sa Sa International Holdings, Watsons, Watson's Wine, Hong Kong International Airport, Hong Kong Inland Revenue Department, CTM, PCCW, Fortress, Wellcome, and many more.\"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 Chan Heng Fai, the Company's Chairman and Chief Executive Officer.\"After our 2020 record breaking year in both revenue and profit, Value Exchange is constantly looking for ways to continue the trend. This synergistic investment fits nicely into our plan by providing fresh capital and opportunities in new markets. More importantly, Value Exchange can tap into Mr. Chan's vast experience in management and the capital markets\" said Benny Lee, Value Exchange's Founder and Chairman.About Alset EHome International Inc....