- AGBA Group at this time indicators an settlement to amass Sony Life Monetary Advisers Pte Ltd in Singapore
- The acquisition is a key milestone for AGBA’s enterprise and growth past the Higher Bay Space into Southeast Asia
HONG KONG and SINGAPORE, April 05, 2023 (GLOBE NEWSWIRE) — NASDAQ-listed AGBA Group Holding Restricted at this time introduced that it has entered right into a sale and buy settlement, dated April 5, 2023, to amass Sony Life Monetary Advisers Pte Ltd, duly licensed monetary adviser and insurance coverage dealer in Singapore. AGBA, along with its subsidiary AGBA Group, is a number one one-stop monetary grocery store headquartered in Hong Kong.
Trusted by greater than 400,000 particular person and company clients, AGBA Group gives the widest vary of monetary providers and healthcare merchandise within the Higher Bay Space of China. The AGBA Group has a singular assortment of complementary companies that mix market-leading companies with new enterprise fashions. It serves a big buyer base whereas unlocking progress by introducing new revolutionary wellness and well being services by means of varied B2B and B2C distribution channels.
The newest acquisition marks a key milestone for AGBA; it’s worthwhile for insurance coverage and fintech companies and expands entry to key markets in Asia. Whereas AGBA’s major focus is on the Higher Bay Space in China, Singapore was chosen for growth on account of its island nation standing and fame as a worldwide hub for innovation, enterprise and finance. 10 placethousand Singapore is thought to have one of many highest financial savings charges on this planet.
Singapore can be dwelling to one of many largest and quickest rising household places of work and wealth administration facilities on this planet. AGBA believes that its superior know-how and infrastructure in wealth administration supply the trade compelling resolution units for the long run.
Yoshiki Moriyama, Managing Director and CEO of Sony Life Monetary Advisers Pte Ltd mentioned that we’re assured that AGBA has the capabilities, assets and dedication to take SLFA to new heights. We are going to work along with AGBA to acquire regulatory and different approvals. As we do that, SLFA will proceed to offer the excessive degree of service that its clients have come to count on. The place such approvals are granted, Sony Life and AGBA intention to make sure an orderly and seamless transition. This settlement is sweet information for all stakeholders. We’re dedicated to supporting AGBA and making certain that SLFA is effectively positioned to succeed.
Wing-Fai Ng, Group President, AGBA Group Holding Restricted mentioned that exterior of the Higher Bay Space, Southeast Asia is enjoying a key function within the improvement of monetary providers markets.
Singapore, specifically, has glorious potential for this, given its strategic geographic location and standing as a worldwide hub for innovation and finance, mentioned Ng. As an organization, AGBA will proceed to leverage its current infrastructure, enterprise companions and enormous consumer base to optimize clients by means of know-how. Ng added that AGBA will proceed to strengthen its aggressive benefit in procurement and financing of recent clients and companions.
The acquisition of Sony Monetary Advisers is a win-win for each corporations as our companies are comparable and our merchandise are complementary, mentioned Ng. We count on the most recent acquisition of Sony Life Monetary Advisers in Singapore to open up new views and promising enterprise alternatives, particularly within the Southeast Asia area.
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About Sony Monetary Advisors:
Sony Monetary Advisers is a duly licensed monetary advisor and insurance coverage dealer in Singapore that was established in 2017 and has turn out to be a particular retail monetary providers advisory agency serving a mass prosperous retail consumer base (together with Japanese resident in Singapore in addition to native residents) for his or her safety and funding wants.
About AGBA Group:
Based in 1993, AGBA Group Holding Restricted (NASDAQ: AGBA ) is a number one one-stop monetary grocery store in Hong Kong, providing the widest vary of monetary providers and healthcare merchandise within the Guangdong-Hong Kong-Macao (GBA) Higher Bay Space by means of a know-how ecosystem , which permits clients to unlock the choice that most closely fits their wants. Trusted by greater than 400,000 particular person and company clients, the group consists of 4 market-leading companies: Platforms, Distribution, Healthcare and FinTech.
Secure harbor assertion:
This press launch accommodates forward-looking statements as outlined by the Non-public Securities Litigation Reform Act of 1995. Ahead-looking statements embody statements concerning plans, objectives, goals, methods, future occasions or operations, in addition to key assumptions and different statements , which aren’t statements of historic reality. When AGBA makes use of phrases resembling could, will, intends, ought to, consider, count on, anticipate, challenge, estimate or comparable expressions that don’t refer solely to historic issues, it’s making forward-looking statements. Ahead-looking statements usually are not ensures of future efficiency and contain dangers and uncertainties that would trigger precise outcomes to vary materially from AGBA’s expectations mentioned within the forward-looking statements. These statements are topic to uncertainties and dangers, together with however not restricted to the next: AGBA’s goals and techniques; AGBA’s future enterprise improvement; demand and acceptance of services; adjustments in know-how; financial situations; the result of any authorized proceedings that could be introduced towards us following the completion of the enterprise mixture; expectations concerning our methods and future monetary efficiency, together with its future enterprise plans or goals, potential efficiency and alternatives and rivals, revenues, merchandise, costs, working bills, market tendencies, liquidity, money flows and makes use of of money, capital expenditures and our capability to spend money on progress initiatives and pursue acquisition alternatives; fame and model; the impression of competitors and pricing; authorities laws; fluctuations normally financial and enterprise situations in Hong Kong and within the worldwide markets that AGBA plans to serve (together with, with out limitation, Singapore), and assumptions underlying or associated to any of the above and different dangers contained in studies filed by AGBA to the SEC, the length and severity of the latest coronavirus outbreak, together with its impression on our enterprise and operations. For these causes, amongst others, buyers are cautioned to not place undue reliance on any forward-looking statements on this press launch. Further elements are mentioned in AGBAs filings with the SEC, which can be found for evaluate at www.sec.gov. AGBA undertakes no obligation to publicly revise these forward-looking statements to replicate occasions or circumstances that happen after the date hereof.
For extra details about AGBA, please go to www.agba.com
Media and Investor Relations Contact:
Media:
Hong Kong:
Kate Siu
media@agba.com
+852 3601 3699
Singapore:
Rothman and Roman
Chip Keng Ng
chip@rothmanasia.com
+ 65 9623 2166
Tashan Kasei
tashan.kassey@rothmanasia.com
+ 65 8282 8746
Investor Relations:
Bethany Lai
ir@agba.com
+852 5529 4500
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