APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    Future FinTech Announces Share Exchange Agreement with Asen Maneuvre Group

    Asiasens owns 85 percent equity interest of PT. Sens Tekonlogi Indonesia, an Indonesian company ("STI") that holds a Financial Service Authority (Otoritas Jasa Keuangan "OJK") license in Indonesia.  

    Future FinTech Announces Share Exchange Agreement with Asen Maneuvre Group

    By

    Apac CIOOutlook | Thursday, December 31, 2020

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    Asiasens owns 85 percent equity interest of PT. Sens Tekonlogi Indonesia, an Indonesian company ("STI") that holds a Financial Service Authority (Otoritas Jasa Keuangan "OJK") license in Indonesia.

    FREMONT, CA: Future FinTech Group, a blockchain-based e-commerce company and a service provider for financial technology, declared today that it has entered into a Share Exchange Agreement (the "Agreement") with Asen Maneuvre Group Limited, a limited company organized under the laws of British Virgin Islands (the "Seller") to acquire 70.59 percent of the equity interest of Asiasens Investment Holding, a company incorporated under the laws of Singapore ("Asiasens").

    Asiasens owns 85 percent equity interest of PT. Sens Tekonlogi Indonesia, an Indonesian company ("STI") that holds a Financial Service Authority (Otoritas Jasa Keuangan "OJK") license in Indonesia, as well as it controls PT Permata Techno Indonesia, an Indonesian company ("PTI") through variable interest entity ("VIE") structure but will change it to 100 percent equity ownership of PTI before the closing of this transaction. PTI engages e-commerce business in Indonesia.

    Pursuant to the Agreement, the Company, through its completely owned subsidiary Future FinTech (Hong Kong) Limited is acquiring 70.59 percent of the equity interest of Asiasens by using 2,160,000 shares of common stock of the Company ( the "Company Shares"). The Company Shares would be issued as per the achievement of certain Earnings Before Interest and Taxes ("EBIT") goals by Asiasens in 2021 and 2022.

    Mr. Shanchun Huang, Chief Executive Officer of the Company, stated, "Asiasens team has extensive experience in financial technology and business development in Indonesia and we are excited to be able to enter into consumer financial and e-commerce business in Indonesia through this acquisition. Asisens has established close cooperative relationships with major e-commerce companies in Indonesia. With a population of 260 million in Indonesia, we believe the acquisition of Asiasens is a key step for our business development in Indonesia and Southeast Asia markets."

    More in News

    Real-Time Insights Fueling Smarter Brand Strategies

    Real-Time Insights Fueling Smarter Brand Strategies

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Transforming Retail: The Impact of VR and AR in Asia Pacific

    Enhancing Customer Satisfaction through Omni-Channel Payments

    Enhancing Customer Satisfaction through Omni-Channel Payments

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/future-fintech-announces-share-exchange-agreement-with-asen-maneuvre-group-nwid-7876.html