Business
New Asia Holdings Inc (NAHD) Announces MOU for the Acquisition of Company Involved in Proprietary Trading Algorithms
New Asia Holdings Inc (NAHD) Announces MOU for the Acquisition of Company Involved in Proprietary Trading Algorithms.
About this update from New Asia Holdings, Inc.
[{"type":"text","content":"\n\n\n\nNew Asia Holdings Inc (NAHD) Announces MOU for the Acquisition of Company Involved in Proprietary Trading Algorithms\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNew Asia Holdings Inc (NAHD) Announces MOU for the Acquisition of Company Involved in Proprietary Trading Algorithms\nPR Newswire\nSINGAPORE, June 25, 2015\n\n\n\nSINGAPORE, June 25, 2015 /PRNewswire/ -- New Asia Holdings Inc (OTCQB: NAHD), formerly DM Products Inc (DMPD) today confirmed that it has signed a Memorandum of Understanding to acquire a 100% controlling stake in Magdallen Quant Pte. Ltd., a Singapore-based Company (the \"Company\") that is focused on the Research, Development and Deployment of Advanced, Proprietary, state-of-the-art, trainable trading algorithms. NAHD confirmed that it has, over the last several months, been undertaking a thorough evaluation of the proprietary trading algorithms owned and developed by the Company. Subject to completion of the final Due Diligence, the Purchase Price of this acquisition will be set forth in a formal Share Sale & Purchase Agreement that is expected to be executed within the next 60 days.    \n\nNAHD CEO, Dr Lin Kok Peng stated, \"through this proposed acquisition, NAHD will provide the financial community with highly advanced, proprietary, neural trading models. Over the last several months I have personally been working with the personnel that currently forms the Company's core team and based on a detailed evaluation and having tested the performance of these proprietary algorithms, I am proud to report that the proprietary, trainable, algorithms owned by the Company have demonstrated a back-test track record of achieving meaningfully better than average month-on-month returns. The next few months will be very exciting!\" \n\nNAHD will offer these proprietary algorithm trading software solutions to Broker-Dealers, Banks, Funds and other clients on the basis of a \"Software as a Service (SaaS)\" licensing and delivery models with licensed users availing themselves of a service-based contractual arrangements. NAHD'...