Business
CLPS Incorporation Announces Establishment of Philippine Subsidiary to Expand in the Southeast Asia Market
HONG KONG, Sep. 3, 2021 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that it established CLPS Technology
About this update from Clps Incorporation
[{"type":"text","content":"HONG KONG, Sep. 3, 2021 /PRNewswire/ -- CLPS Incorporation (Nasdaq: CLPS) (\"CLPS\" or \"the Company\"), today announced that it established CLPS Technology (Philippines) Corp. (\"CLPS Philippines\") in Metro Manila. The formation of the Philippine subsidiary is in line with the Company's global expansion strategy, particularly to extend its operation in Southeast Asia. CLPS Philippines has completed the initial phase of its business and started to be operational.\nIn recent years, CLPS has been proactively advancing its presence in Southeast Asia due to the continuous demand for financial IT services in the region. One such move is the completion of Ridik acquisition that led to designating Singapore as Southeast Asia headquarters of CLPS. Therefore, the Company established CLPS Philippines to support its clients' respective international business, and eventually a means to penetrate the domestic financial IT services market in the country. As a result of this strategy, it will enable CLPS to maintain a strong foothold in the region.\nCLPS appointed Mr. Srustijeet Mishra, head of CLPS Southeast Asia region, as the director and president of CLPS Philippines. \"The establishment of the Philippine subsidiary is another solid evidence of the successful implementation of our global expansion strategy. In addition, it will provide a more efficient service delivery to our international clients' businesses in the country. Our competitive advantage as a provider of industry-leading IT consulting and solution services in Asia Pacific region positions us to better serve our clients in banking and other financial institutions,\" Mr. Mishra said. \"As we look ahead, we will institute plans to drive our overseas presence, such as exploring business potentials in other parts of Southeast Asia to further push our overseas revenue in an upward trend,\" he ended.\nAbout CLPS Incorporation\nHeadquartered in Hong Kong, CLPS Incorporation (the \"Company\") (Nasdaq: CLPS) is a global leading information technology (\"IT\") consulting and solutions service provider focusing on the banking, insurance, and financial service sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial service industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong SAR,...