Greenpro Incubator Company Angkasa-X Signs MOU

Rhea-AI Summary

Greenpro Capital Corp. (NASDAQ:GRNQ) announced a strategic partnership through an MOU with HallBru Tech Brunei, aimed at enhancing internet connectivity via Angkasa-X's low earth orbit satellite constellation for the BIMP-EAGA region. This initiative, supported by the Brunei Darussalam BIMP-EAGA Business Council, seeks to improve living standards by providing internet access to underserved rural areas. Greenpro holds 28 million shares of Angkasa-X, which is expected to go public in the U.S. by the end of 2021.

Positive

• Strategic partnership formed to improve internet connectivity in rural areas.
• Greenpro owns 28 million shares of Angkasa-X, enhancing its investment portfolio.
• Angkasa-X's IPO planned on a U.S. exchange, potentially increasing shareholder value.

Negative

• None.

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / July 7, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that its incubator company, Angkasa-X has signed a Memorandum of Understanding (MOU) with HallBru Tech Brunei to form a strategic partnership in promoting internet connectivity through Angkasa-X's ASEAN-LINK low earth orbit "LEO" satellite constellation for Borneo Island, BIMP-EAGA Region.(https://bimp-eaga.asia)

The MOU signing was supported and facilitated by Brunei Darussalam BIMP-EAGA Business Council (BDBEBC), in developing the ASEAN Space Economy and the Digital Economy transformation program. This LEO connectivity will cover communities in rural areas with the aim to improve the standard of living, eradicate poverty and achieve social inclusion for all citizens.

Greenpro owns 28 million shares of Angkasa-X and is planning to list the company via an IPO on a U.S. exchange by the end of 2021.

About Angkasa-X (Website: https://angkasax-innovation.com)

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, components sourcing & testing, assembly & manufacturing, 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 internet-connectivity to rural areas in Southeast Asia where traditional terrestrial fiber network is limited.

Greenpro CEO CK Lee said, "Angkasa-X is another example of one of our successful incubation companies. The development direction of the company is aligned with the Sustainable Development Goals set up by United Nations."

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.

Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com

Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com

SOURCE: Greenpro Capital Corp.

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FAQ

What is the recent partnership announcement by Greenpro Capital Corp. (GRNQ)?

Greenpro Capital Corp. announced a strategic partnership with HallBru Tech Brunei to enhance internet connectivity through Angkasa-X's satellite constellation.

How does the MOU with HallBru Tech Brunei benefit the BIMP-EAGA region?

The MOU aims to improve internet access in rural areas, enhancing living standards and promoting social inclusion in the BIMP-EAGA region.

What is the significance of Angkasa-X's IPO for Greenpro Capital Corp. (GRNQ)?

The planned IPO of Angkasa-X on a U.S. exchange is expected to potentially increase shareholder value for Greenpro Capital Corp., which owns 28 million shares.

When is Angkasa-X expected to go public?

Angkasa-X is expected to go public on a U.S. exchange by the end of 2021.