Breaking #Fintech #Stock Podcast Interview with CEO of
Weyland Tech Inc. (OTCQX: $WEYL) Discussing Indonesia and Company’s Growth; @weylandtechinc
Point Roberts WA, Delta BC – November 4,
2019 - Investorideas.com,
a leading investor news resource covering fintech and mobile payment stocks
releases an exclusive podcast interview
for investors following the sector.
Weyland Tech Inc (OTCQX:WEYL) is eyeing many
opportunities and has already outperformed its 2018 revenue numbers, company
CEO, Brent Suen stated in a recent interview with Investorideas.com.
Listen
to the podcast
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this in full at https://www.investorideas.com/news/2019/technology/11042Interview-CEO-OTCQXWEYL.asp
“For 2018 we had top line revenues of $22.6
million,” he said. “This year, in the first nine months of operations … based
on our preliminary announcement … we’re already exceeding last year’s entire
full-year numbers in the first nine months of this year. That is due to
distribution partners, or what we call white label partnerships, who are seeing
considerably higher growth from the additional functionality that we added in
over this past nine months.”
Weyland, a developer and global provider of
mobile business software applications, operates its CreateApp™
platform-as-a-service (PaaS) across three continents and 10 countries,
including some of the fastest-growing emerging markets in Southeast Asia. Suen
indicated that a top priority of the company is an uplisting, which would
enhance the company’s profile and opportunities.
“The biggest one is the uplisting to
Nasdaq, and that’s key to expanding a much higher level of visibility which in
turn would enable, or certainly imply, a higher market cap,” he said. “And
subsequently the ability to fund a more exponential expansion plan.”
“We believe that, upon gaining shareholder
approval for management’s discretion on a reverse split, we will be able to
exercise a modest reverse split and immediately qualify for Nasdaq,” he continued.
“We expect that to happen before the end of the year. And we’re also, alongside
that, evaluating merger and acquisition opportunities that would not only
increase our scale, but would also increase the pipeline for products and
services and also geographic expansion.”
Weyland typically enters markets with its
CreateApp™ platform-as-a-service (PaaS) application, which allows micro and
small businesses to design apps themselves, and market and promote their goods
and services to their end customers much more affordably than having a third
party designer.
“Our app, CreateApp™, enables the business
owner to do a number of things, but the four primary ones are: a) to market and
promote their goods and services, b) to enable them to sell online through the
phone, c) to pay for them through the phone, and then d) have them delivered
through logistics delivery or courier if it’s nearby.
What’s interesting about ours is that it
can be created by our customer within one to two hours at a maximum, and that’s
with zero technical skills,” he said. “It’s extremely important because most
micro to small business owners … typically wouldn’t have the time, expertise or
resources available to build their own app. So what we provide is a very simple
and streamlined toolkit to do so. Further, [for] the app itself, what we price
to our clients at an average of $20 to $25 per month. And that compared to
having a native app custom built by a professional services firm is actually
quite inexpensive.”
The company is taking a different approach
to the Indonesian market, where roughly 70 percent of the population is
unbanked, according to Suen, and therefore rely on alternatives such as
e-wallets. Because of this, Weyland has entered the Indonesian market via its
subsidiary, Weyland Indonesia Perkasa (WIP), and its ewallet Atozpay.
“When you don’t have bank accounts or
credit cards … trying to sell things through the phone – e-commerce and
m-commerce – is extraordinarily difficult to do in that type of
environment,” he said. “So what has ended up happening is that the prevalence of
mobile payments or e-wallets, of which Atozpay is, has gained tremendous
traction in Indonesia.”
On the subject of Indonesia, with it being
the fourth-most populous country in the world and boasting a growing confluence
of big tech players and equity funds, Suen posits that it holds tremendous
potential for investors.
“What I’ve found in the past two years of
being back [in the U.S.], when I talk to potential investors … about
Indonesia, most of the response, very naturally is, ‘that’s an entire world away’,”
he said.
“There are currently over 15 tech companies
based in Indonesia that have what are called unicorn valuations,” he said. “So,
anything valued at a billion dollars or more would imply that it’s a Unicorn
valuation. Several are actually higher than ten billion and this is notable
because every major global tech giant has investments in these 15.”
“Not only are the big strategic tech
companies making investments in these 15, we are also seeing the world’s
leading private equity funds investing as well,” he added. “What you have is a
landscape that’s a who’s who of global tech companies, a who’s who of private
equity funds and venture capital funds, and what we’re going to see very soon
is an impending wave of IPOs here in the US.”
Suen said that the company’s activities in
Indonesia, coupled with its other developments, position it favorably for
strategic investments or possibly acquisition.
“It puts us on the path for potential
strategic investment in or an acquisition of, our Indonesian subsidiary by one
of these larger companies,” he said. “What we believe will happen, is someone
like Grab – which is currently a
$16 billion valued company operating in Southeast Asia in its entirety
– we believe that they will be a strategic investor in Weyland Indonesia
Perkasa, or potentially acquire us.”
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Important
Cautions Regarding Forward Looking Statements
This release contains certain
“forward-looking statements” relating to the business of the Company. All
statements, other than statements of historical fact included herein are
“forward-looking statements” including statements regarding: the continued
growth of the e-commerce segment and the ability of the Company to continue its
expansion into that segment; the ability of the Company to attract customers
and partners and generate revenues; the ability of the Company to successfully
execute its business plan; the business strategy, plans, and objectives of the
Company; and any other statements of non-historical information. These
forward-looking statements are often identified by the use of forward-looking
terminology such as “believes,” “expects” or similar expressions and involve
known and unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are reasonable,
they do involve assumptions, risks, and uncertainties, and these expectations
may prove to be incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this news
release. The Company’s actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the Company’s periodic reports that are
filed with the Securities and Exchange Commission and available on its website
(www.sec.gov). All forward-looking statements attributable to the Company or
persons acting on its behalf are expressly qualified in their entirety by these
factors. Other than as required under the securities laws, the Company does not
assume any duty to update these forward-looking statements.
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