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Smartag International Purchases OREB SDN BHD

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Smartag International Purchases OREB SDN BHD

PR Newswire

KUALA LUMPUR, Malaysia, July 26, 2018 /PRNewswire/ -- Smartag International, Inc. ("Smartag") (OTC Markets: SMRN) entered into a share exchange agreement with the shareholders of OREB SDN BHD ("OREB") to acquire all of the outstanding stock.  OREB is controlled by Smartag's CEO, Lock Sen Yow.

OREB focuses on software development for online remittances, RFID and Fintech related technologies.

Smartag plans to utilize OREB to provide Fintech research & development and technical support including P2P transfers, e-commerce, micro finance and blockchain traceability. This acquisition will further enhance Smartag's project announced earlier in February 2018 to develop a composite e-Wallet platform for the Indonesian Baitu Maal, co-operatives and 28,000 boarding schools. OREB has Multimedia Super Corridor status which entitles it to a 5 year tax free status and other benefits.

Information about Forward-Looking Statements

This press release contains "forward-looking statements" that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. For a more detailed description of the risk factors and uncertainties affecting Smartag, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations: 702-589-2176

 

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SOURCE Smartag International, Inc.

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