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Treasure Global Inc (TGL) is a cutting-edge technology solutions provider based in Malaysia, specializing in creating innovative platforms for the e-commerce and payment ecosystem. The company’s flagship product, the ZCITY App, offers a unique online-to-offline business model that provides consumers and merchants with instant rebates and cashback programs, while also delivering seamless e-payment solutions in both digital and physical retail environments. The app leverages advanced AI technology to offer personalized deals based on users' purchase history, location, and preferences, significantly enhancing user engagement and satisfaction.
Treasure Global has recently made significant strides in various sectors. For example, they have expanded into the beauty industry by promoting prestige Korean beauty products in Malaysia and Southeast Asia. This strategic move is expected to capitalize on the growing demand for Korean beauty products, which are projected to see substantial revenue growth in the coming years. Furthermore, the company has secured a strategic partnership that grants them the first right of refusal for an AI Blockchain Wallet, enhancing their competitive edge in the blockchain market and opening new avenues for revenue generation.
In the financial realm, Treasure Global reported promising results for the third quarter of the 2024 fiscal year. The company saw a notable increase in gross profit and a significant reduction in net loss. Additionally, Treasure Global has launched an at-the-market (ATM) offering to secure up to $2.99 million, which will be used to further their strategic initiatives and drive shareholder value.
Treasure Global is also making headway in the blockchain industry with innovative projects like the AI-powered crypto mining service integrated with their MVNO services. This initiative aims to fuse telecommunications and blockchain technology, offering users seamless crypto mining capabilities through their mobile services. This move not only opens a new revenue stream but also solidifies Treasure Global's position as a leader in technology-driven solutions.
Furthermore, the company’s TAZTE platform is transforming the food and beverage (F&B) sector in Malaysia. This digital management system provides merchants with an all-encompassing solution to digitalize their operations, thereby optimizing efficiency and increasing profitability. The platform has already shown significant growth in transactions and user engagement, and its market potential is projected to expand substantially in the coming years.
Overall, Treasure Global Inc continues to demonstrate its commitment to innovation and growth, leveraging advanced technologies to drive success across various industries. For more information, please visit https://treasureglobal.co/.
Treasure Global Inc (NASDAQ: TGL) announced that its CEO, Sam Teo, will participate in the Inaugural EF Hutton Global Conference at The Plaza Hotel, New York, on May 10, 2023. This event will focus on the company’s innovative e-commerce solutions, which integrate technology for lifestyle needs and include features like instant rebates and cashback programs.
The company aims to connect online and offline retail sectors in Southeast Asia and Japan, promoting its digital ecosystem through the ZCITY App, launched in June 2020, which simplifies e-payment experiences for over 2.3 million registered users as of December 31, 2022. For additional details regarding the conference or to schedule meetings, interested parties can contact EF Hutton representatives or KCSA Strategic Communications.
Treasure Global Inc (NASDAQ: TGL) announced that it will release its third-quarter financial results for fiscal year 2023 on May 9, 2023, before market open. The company will hold a conference call at 8:30 a.m. Eastern Time to discuss the results, featuring remarks by CEO Sam Teo and CFO Jaylvin Chan. The company is known for its innovative e-commerce platform that integrates technology solutions for lifestyle needs, particularly through its ZCITY app, which had over 2.3 million registered users as of December 31, 2022. Treasure Global aims to create a seamless link between online and offline retail in Southeast Asia and Japan.
Treasure Global Inc (TGL) has signed a Letter of Intent with Morganfield’s to implement its digital food & beverage management system, TAZTE, across nine franchise locations in Malaysia, China, and Singapore. This agreement allows TGL to leverage Morganfield’s brand to expand further in Southeast Asia, aiding both companies in operational efficiency and growth. TGL anticipates increased brand exposure and revenue from technical and licensing fees as Morganfield’s plans to grow its franchise network. This collaboration is expected to digitalize the F&B sector, enhancing business insights and customer engagement.
Treasure Global Inc (NASDAQ: TGL) announced the appointment of Ho Yi Hui to its Board of Directors, effective March 20, 2023. Ho brings over 20 years of experience in tax advisory and compliance, previously holding positions at Hanz Consulting Group, BDO, and RSM. Dato’ Victor Hoo will be stepping down to focus on other endeavors. CEO Sam Teo expressed enthusiasm for Ho's contributions, emphasizing the company's goal to expand its innovative e-commerce platform across Southeast Asia. Established in June 2020, TGI's ZCITY App enhances the e-payment experience, boasting over 2.3 million registered users as of December 31, 2022.
Treasure Global Inc (NASDAQ: TGL) announced a new agreement with an institutional investor for an unsecured convertible debt facility of up to $5.5 million. The company plans to use the initial $2.0 million drawdown to further develop its innovative products and for working capital. The debt facility allows TGL to issue convertible debentures, with the first tranche closing at 92% of its face value. CEO Sam Teo highlighted that this financing provides greater financial flexibility to enhance user engagement and product offerings. The company aims to improve revenue margins through its e-commerce solutions and has over 2.3 million registered users of its ZCITY App.
Treasure Global Inc (NASDAQ: TGL) reported its Q2 2023 financial results, with total revenues of $20.4 million, a decrease from $22.4 million in Q2 2022. The company's gross profit improved by 68% year-over-year, reaching $0.23 million, and its net loss decreased to $2.0 million from $3.2 million. Key developments included the launch of TAZTE, a digital food and beverage management system, and strategic partnerships with iPay88 and Boost for enhanced e-commerce capabilities. TGI reported a significant increase in active user retention, reaching 98.1% year-over-year, supporting its ongoing regional expansion in Southeast Asia.
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