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Replies to post #49687 on Logiq Inc (LGIQ)
12/17/18 12:39 PM
Weyland Tech Inc. Updates Shareholders on Its Q3 Results and Business Outlook
NOVEMBER 16, 2018
New York, NY, Nov. 16, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Weyland Tech Inc. (WEYL) (“Weyland ” or the “Company”), a provider of mobile business applications, today updates shareholders on its Q3 results and business outlook.
“The quarter ended September 30, 2018 was both affirming and transitional for Weyland,” stated Brent Suen, CEO, continuing, “Our core business, CreateApp, a Platform as a Service (“PaaS”) do-it-yourself tool-kit for small businesses to create mobile applications that facilitate mobile commerce, experienced significant revenue growth and an enriching evolution of its financial and operational relationship with white label partners.”
Service Revenue has increased 220% year over year reaching $8,436,412 from $3,826,718 for the three months ended September 30, 2018 and 2017, respectively. The increase was initiated by release of the 3rd generation of the PaaS platform. Our net loss expanded from $102,239 to $1,997,735, from factors related to maintaining our strong growth trajectory; and the costs related to a near completed special dividend of the equity in an unconsolidated subsidiary, AtoZPay.
Weyland Tech Enters Into Partnership With Major Regional Delivery Company to Establish a ‘Last Mile’ Fulfillment Platform for eCommerce/mCommerce Companies
DECEMBER 11, 2018
Weyland Tech Enters Into Partnership With Major Regional Delivery Company to Establish a ‘Last Mile’ Fulfillment Platform for eCommerce/mCommerce Companies
New York, NY, Dec. 11, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Weyland Tech Inc (Weyland or the Company) announces today it has signed a binding Memorandum of Understanding (“MOU”) with PT Rex Indonesia (“Rex”) http://www.rex.co.id/id
Rex focuses its services as a document and package shipping company through air, sea and land transportation with domestic and international destinations. Rex ships approximately 10,000 packages per day for thousands of Small-Medium sized Businesses (“SMBs”).
Under the terms of the MOU, Weyland and Rex will leverage the Rex SMB customer base and Weyland Tech’s 13,000-partnership network across 23 cities in Indonesia. The combined platform will implement a non-cash based payment system through the AtoZpay eWallet, integrate Weyland’s PaaS platform functionality for eCommerce and mCommerce thereby providing a ‘last-mile’ and payment solution for companies looking to expand their sales thru eCommerce/mCommerce and have goods and services paid for and delivered.
Ride sharing services such as Go-Jek and Grab, which have valuations of $8 billion and $10 billion respectively and are supported by Alibaba, Tencent, Toyota, Softbank, Temasek, KKR and other tier-one investors, also provide courier services for their own product lines by leveraging their scooter, motorcycle and automobile driver network. Weyland and Rex will build out an ‘agnostic’ solution that focuses on a) deliveries to smaller cities and townships and b) delivery services into Indonesia from large foreign eCommerce/mCommerce companies expanding into Southeast Asia.
‘Last-mile’ solutions have long been a major challenge for eCommerce/mCommerce fulfillment and a total solution creates significant value for companies that can successfully implement and execute on it.
The MOU is subject a definitive agreement expected to be drafted by March 1, 2019. The companies will immediately provide each other’s services before fully integrating joint solutions.
Weyland Tech Continues to Execute on Its Growth Plans and CEO Makes Further Commitment With Additional Stock Purchases
DECEMBER 6, 2018
Weyland Tech Continues to Execute on Its Growth Plans and CEO Makes Further Commitment With Additional Stock Purchases
New York, Dec. 06, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Weyland Tech Inc. (WEYL) (“Weyland” or the “Company”), a provider of mobile business applications, continues to execute on its growth plans and CEO makes further commitment with additional stock purchases.
The recent announcements surrounding the spin-off transaction of 49% of Weyland AtoZpay Incorporated (“WAI”), has shifted investor focus away from Weyland’s core PaaS and e-Wallet businesses both of which have continued to grow nicely.
Weyland Tech Enters Into Partnership With Southeast Asia’s Largest B2B Portal for the Construction Industry
November 19, 2018
Weyland Tech Enters Into Partnership With Southeast Asia’s Largest B2B Portal for the Construction Industry New York, NY, Nov. 19, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Weyland Tech Inc. (OTCQX: WEYL) ("Weyland " or the "Company"), a provider of mobile business applications,…
Weyland Tech’s eWallet Enters Into Partnerships with Major Banks, Telecom Providers and Unicorn Funded Companies in Indonesia
New York, NY, Sept. 06, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Weyland Tech Inc. (OTCQX: WEYL) (“Weyland ” or the “Company”), a provider of mobile business applications, announces that its eWallet business, AtoZPay, has entered into multiple additional agreements with the following companies in Indonesia, to enable users of AtoZPay to pay for goods and services from said companies.
The partnerships include
• Telkomsel – Indonesia’s largest telecom service provider https://www.telkomsel.com/en
• BRI Bank – one of the oldest banks in Indonesia, with US$62 billion in assets https://bri.co.id/en/home
• Bank Mandiri – one of the largest banks in Indonesia with over US$81 billion in assets https://www.bankmandiri.co.id/en/home
• Grab Taxi – the number one ride sharing and delivery service in Southeast Asia funded by HSBC, Toyota Motor Company, Paul Allen (Co-founder of Microsoft), Oppenheimer, Softbank and multiple other ‘tier-one’ investors. Grab is currently valued at US$9 billion https://www.grab.com/mm/en/
• Go-Jek – Indonesia’s largest motorcycle and scooter based taxi service, funded by Google, Tencent, Temasek, Sequoia Capital, KKR and and multiple other ‘tier-one’ investors. Go-Jek is currently valued at US$5 billion https://www.go-jek.com/
It is notable that both Grab Taxi and Go-Jek are two of fourteen companies that operate in Southeast Asia, considered to be ‘Unicorn’ valued companies, meaning valuations in excess of US$1 billion supported by investors that have a global presence and are top of their class.
eWallet business announces major strategic partnership with Finnet
August 20, 2018
eWallet business announces major strategic partnership with Finnet Weyland Tech Inc. (OTCQX:WEYL +14.9%) announces a strategic partnership between its eWallet business and PT. Finnet Indonesia. More news on: Weyland Tech Inc., Read more ... SeekingAlpha August 20, 2018 - 12:29 PM EDT News by…
eWallet Business Announces Major Strategic Partnership with Finnet
August 20, 2018
eWallet Business Announces Major Strategic Partnership with Finnet NEW YORK, NY, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, today announces a strategic partnership between its eWallet business and…
Weyland Tech Announces Details of Weyland AtoZ Pay Spin-Off
AUGUST 16, 2018
NEW YORK, NY, Aug. 16, 2018 (GLOBE NEWSWIRE) — Weyland Tech Inc. (OTCQX: WEYL) (“Weyland ” or the “Company”), announces today that its board of directors has approved a pro-rata distribution to the Company’s shareholders of 90% of the outstanding shares of the Company’s subsidiary, Weyland AtoZ Pay Inc.” (“WAI”), through which the Company holds its ownership interest in its eWallet business (the “Spin-Off”).
Weyland Tech, Inc. Company Update on Insider Purchases
June 27, 2018
Weyland Tech, Inc. Company Update on Insider Purchases NEW YORK, NY. , June 27, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that its CEO Brent Suen purchased 28,000 shares of the Company's common…
Weyland Tech Announces the Launch of Mobile Commerce and Logistics Platform Across Asia in Partnership With DPEX
March 28, 2018
Weyland Tech Announces the Launch of Mobile Commerce and Logistics Platform Across Asia in Partnership With DPEX NEW YORK NY, March 28, 2018 (GLOBE NEWSWIRE) -- Weyland Tech Inc. (OTCQX: WEYL) ("Weyland” or the "Company"), a provider of mobile business applications, announces the…
Weyland Tech Announces Purchase of Common Shares by CEO
May 18, 2018
Weyland Tech Announces Purchase of Common Shares by CEO New York, NY., May 18, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that its CEO Brent Suen purchased 10,000 shares of the Company's common…
Company Update on Spinoff of eWallet Business
MAY 10, 2018
Weyland Tech Inc. (OTCQX: WEYL) (“Weyland ” or the “Company”), a provider of mobile business applications, provides an update on the Company’s recently announced spinoff of the eWallet business:
1. Management is currently finalizing an engagement letter with a ‘Big 5’ consulting firm to advise the Company on the spinoff and IPO structure as well as ongoing audit functions for the eWallet business.
2. The eWallet business, operating in a ‘closed Beta’ environment from December 2017 to April 2018, was on an annual run-rate of US$5.0 million Gross Transaction Volume (“GTV”) with 15 sales people on staff and zero marketing and advertising expenditures. Recent hires have increased the current sales staff to 24 and our plan is to have 400 sales staff in place by year end 2018 with a targeted GTV of US$25-35 million run-rate.
3. The 2019 goal is to have 1,000 sales staff and a target GTV of over US$80 million.
4. The current funding environment in Southeast Asia has produced investment rounds for companies such as Go-Jek, Grab, SEA Ltd., and other technology centric companies valued at 1.2X GTV or higher. Recent M&A activity in the region has valued eWallet businesses as high as 1.8X GTV.
5. It is the Company’s stated goal to take the eWallet business through the S-1 process and a subsequent IPO via a ‘fully-underwritten’ offering. For transparency in the interim the eWallet business will file public financials prior to the offering.
6. As soon as practicably possible, the Company will designate a record date and ex-dividend date for the Spinoff of the eWallet business to shareholders of Weyland Tech.
Weyland Tech Announces Purchase of Common Shares by CEO
May 18, 2018
Weyland Tech Announces Purchase of Common Shares by CEO New York, NY., May 18, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that its CEO Brent Suen purchased 10,000 shares of the Company's common…
Weyland Tech Announces the Launch of Mobile Commerce and Logistics Platform Across Asia in Partnership With DPEX
Weyland Tech, Inc. Announces Acquisition Offer From Strategic Partners DDBill Payment Co., Ltd. and Dinpay Technology Group Ltd.
March 14, 2018
Weyland Tech Announces Partnership With Blockchain Technology Developer of Tokes Platform
December 28, 2017
Weyland Tech Announces Partnership With Blockchain Technology Developer of Tokes Platform NEW YORK, NY, Dec. 28, 2017 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that it has entered into a…
Weyland Tech, Inc. Announces Acquisition Offer From Strategic Partners DDBill Payment Co., Ltd. and Dinpay Technology Group Ltd. NEW YORK, NY, March 14, 2018 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL; the “Company” or “Weyland”), a provider of mobile…
Weyland Tech Announces Partnership to Access 99% Of China’s Bank Customers
December 22, 2017
Weyland Tech Announces Partnership to Access 99% Of China’s Bank Customers New York, NY, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that it has entered into a memorandum of…
Umm IDK Bill! Maybe because every day this companys stock value falls like 20% LOL!
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