Greenpro Incubated Company Angkasa-X Establishing SpaceTech Eco-System to Support LEO Satellites Launch for ASEAN Region
Greenpro Capital Corp. (NASDAQ:GRNQ) announced its incubated company, Angkasa-X, is establishing a SpaceTech ecosystem in Malaysia with support from industry and government organizations. The global SpaceTech economy is valued at $4.7 trillion and projected to reach $10 trillion by 2030. Greenpro holds 28 million shares in Angkasa-X and plans an IPO on a U.S. exchange. CEO Dr. Lee highlighted plans for a Security Token Offering (STO) to finance the SpaceTech initiatives, aiming for Angkasa-X to become a unicorn by providing satellite connectivity to Southeast Asia.
- Greenpro owns a significant stake (28 million shares) in Angkasa-X, which is positioned for growth.
- The global SpaceTech economy is expanding rapidly, offering potential financial benefits.
- Plans for an IPO of Angkasa-X could enhance shareholder value.
- Security Token Offering (STO) is seen as an innovative fundraising method.
- None.
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / November 5, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that its incubated company, Angkasa-X is establishing SpaceTech eco-system in Malaysia. The establishment of SpaceTech eco-system will be supported by industries organization and government agencies such as The National ICT Association of Malaysia (PIKOM) and Malaysian Space Agency (MYSA).
According to the SpaceTech Industry September 2021 (Q3) Analytic Report, the global SpaceTech economy is constantly growing and valued at
(https://analytics.dkv.global/spacetech/SpaceTech-Industry-Overview-2021-Q3.pdf)
Greenpro owns 28 million shares in Angkasa-X and is planning to list the company via an IPO on a U.S. exchange in the coming months.
Greenpro CEO, Dr. Lee said, "We will plan the Security Token Offering (STO) as an alternative fundraising strategy to finance the companies within the SpaceTech eco-system. We are confident in such an innovative fundraising mechanism as recently one of our STO project (Dignity Gold) with assets value of
We are proud that Angkasa-X is set to become a SpaceTech Unicorn with its vision aligned with the United Nations SDGs, to provide satellite connectivity services to serve the 670 million Southeast Asia mass populations."
About ANGKASA-X
ANGKASA-X is a Technological-social Inclusion Company that strives to provide Internet Connectivity as a Necessity for the betterment of mankind. It consists of a group of companies investing in research & development, IP creation, technology & components sourcing, assembly-integration-testing, launching and maintaining state-of-the-art Low-Earth-Orbit (LEO) satellites. By offering an innovative Satellite-as-a-Service (SaaS) to countries in ASEAN. Angkasa-X's mission is to provide satellite internet-connectivity and other services to remote rural areas in the countries in ASEAN and neighbouring countries to establish ASEAN Space Economy via the formation of ASEANLINK LEO Satellites Constellation. Angkasa-X plans to raise funds from the global capital market to invest and operate ASEANLINK LEO Satellite Constellation. It aspires to be a Unicorn and the number one unique company for LEO satellite-based Internet services in ASEAN region. For more information on the company, please visit http://www.angkasax-innovation.com
About Greenpro Capital Corp.
Headquartered in Kuala Lumpur, Greenpro Capital Corp. (Nasdaq: GRNQ), a Nevada corporation, with strategic offices across Asia, is a business incubator with a diversified business portfolio comprising finance, technology, banking, CryptoSX for STOs, health and wellness and fine art. With 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. We also operate venture capital businesses, including business development for start-ups and high growth companies, covering finance, technology, FinTech, and health and wellness. For further information regarding the Company, please visit http://www.greenprocapital.com.
Forward-Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
Contact:
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718
SOURCE: Greenpro Capital Corp.
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FAQ
What is the purpose of Angkasa-X's SpaceTech ecosystem in Malaysia?
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