August 20, 2021
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / August 20, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced that its incubator company, Angkasa-X has signed a Memorandum of Understanding (MOU) with Silkwave Holdings Limited ("Silkwave") in forming a joint-venture strategic partnership ("Partnership") to develop and operate the world's first GEO-LEO integrated satellite network and services platform to provide innovative integrated satellite-services to address the ASEAN region's varying needs in Internet connectivity, multimedia infotainment, vehicle-connected services, precision tracking and navigation, environmental monitoring and surveillance, and accelerating digital transformation to grow the digital economy for all communities in the ASEAN region.
The Partnership is set to establish a Space Technology Ecosystem in Penang, Malaysia and to nurture the state into a supply chain and distribution hub for global satellite technologies for the ASEAN market. Both parties aim to set up an ASEAN-Greater Bay Area Space-Satellite Industry Alliance to accelerate technology and investment transfer to develop the ASEAN region as one of the world's largest satellite markets.
On the funding part, the Bank of Asia (BOA) has been appointed as the global financial advisor for fund raising for Angkasa-X and Silkwave developments.
Greenpro owns 28 million shares in Angkasa-X and is planning to list the company via an IPO on a U.S. exchange by the end of 2021.
Greenpro CEO, Dr. Lee said, "The Partnership is the first between a GEO and a LEO platform, which will bring about unprecedented synergies such as universal connectivity along with abundant low-cost and innovative infotainment and broadband data services to mass-market consumers throughout the ASEAN region. This will usher in a new era of digital transformation in this growth market and leapfrog it into one of the most advanced satellite service markets in the world."
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 A-SEANLINK LEO Satellites Constellation. Angkasa-X plans to raise funds from the global capital market to invest and operate A-SEANLINK 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
Silkwave, a member of Silkwave Holdings and its affiliate CMMB Vision Holdings Limited, is the world's first dedicated mobile multimedia infotainment and application provider that combines mobile satellite broadcasting with terrestrial cellular connectivity via Converged™ technology to deliver high-quality, low-cost, live, and on-demand multimedia and data services. It has a Geosynchronous Earth Orbit (GEO) satellite platform over Asia and developed end-to-end ecosystem support. CMMB Vision Holdings Limited is a Hong Kong main board listed company and a digital multimedia and satellite service and application provider holding 20% stake of SILKWAVE and is its de facto management. For more information on the company, please visit http://www.silkwaves.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.
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