RC365 Holding to continue expanding in Southeast Asia after creating Malaysian subsidiary
October 02, 2023 at 08:02 am
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RC365 Holding PLC (LSE:RCGH) has announced the incorporation of a new, wholly owned subsidiary in Malaysia by the name of RC365 Solutions SDN. Regal Crown Technology Ltd Vice President of Information Technology KC Chua and Vice President of Production Management Yun Seong Yu speak to Thomas Warner from Proactive about the rationale for the decision and their hopes for what it can go on to deliver.
Yu starts with a brief overview of RC365's operations before Chua goes on to explain this week's news in more detail, saying that the new subsidiary expects to issue and manage Mastercard Prepaid Card services to 40 merchants and 3,000 active cardholders by end of year 2024.
He also lists the benefits the company expects to garner from working in Malaysia, citing its strategic location, a welcoming business environment for businesses, cost effectiveness, an impressive talent pool and political and economical stability. Yu reveals more about future plans, expressing confidence in the ability of the company to deliver a 40% annual saving on RC365 Holding's informational technology costs.
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RC365 Holding PLC is a holding company, which is engaged in in the information technology (IT) software development sector. The Company is a fintech solutions service provider in Hong Kong and China provided payment gateway services, IT support and security services and enterprise resource planning (ERP) Services. Its payment gateway solutions (online and offline) provide a secure payment gateway service facilitating the growing banking needs of the Asian community for cross-border payment services. IT support and security services provide IT technical support services on a 24/7 basis, cyber security consultation services and portal support services to its clients. CatchAR is its internally developed mobile application for Android and iOS, which provides clients in businesses, such as catering and entertainment which address numbers of consumer customers, a platform to promote their services and branding through its augmented reality and visual reality systems.