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1World Direct US Inc., Enters Indonesia's 7 Billion Dollar Remittance Inflow Sector
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Compass Biotechnologies Inc.'s (pinksheets:COBI) wholly owned subsidiary, 1World Direct US Inc.("1World"), which recently announced that it expects revenues to increase over

1000 percent in the 4th quarter, has recently signed an exclusive marketing agreement with a non-bank remittance company in Indonesia to provide modern and reliable money transfer services for overseas Indonesians. Indonesia and the Philippines have large populations of workers overseas and expatriates. Both countries are also listed among the world's largest recipients of remittance inflows, with the Philippines receiving $21.3 billion and Indonesia receiving $7.1 billion, according to the 2010 Migration and Remittances Factbook of the World Bank.
"1World has gained a stronghold with PT. Duta Nayaka Bali and related crewing agencies. With PT. Duta Nayaka Bali as a starting point, 1World expects to eventually reach the entire Indonesian remittance market. PT. Duta Nayaka Bali Indonesian Labor Consultants are engaged in providing services to more than 10,000 seafarers leaving Bali each year. 1World will help to coordinate and market the product locally. We are aggressively expanding to various parts of the globe," said 1World CEO Tom Krucker.
Dewa Nyoman Budiasa, Bali Regional Chairman of the Indonesian Seafarers' Union, said his union has endorsed the efforts to bring the remittance products to their members. "We look forward to working with both 1World and PT. Duta Nayaka Bali to promote this exciting opportunity to our members. From our side, this solves a long term concern of our workers, and we expect our members will be excited about how easy the product is for them to use at a fraction of the cost of other options available to them in ports around the world." Budiasa also serves as Southeast Asia Coordinator for the International Committee for Seafarers' Welfare and sees potential beyond Indonesia. "Certainly, Indonesia has an enormous number of overseas seafarers but there are also other seafarers from the Southeast Asian region who are in need of a service like 1World can offer. Ideally, through our union network and with the help of industry partners, we can help bring them the solution," he added.
http://remittancesgateway.org/index.php?option=com_k2&view=item&id=226%253A1world-direct-us-inc-enters-indonesia-s-7-billion-dollar-remittance-inflow-sector&Itemid=132