AsiaFIN Holdings Corp. completed the acquisition of StarFIN Holdings Limited from Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin.
January 22, 2023
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AsiaFIN Holdings Corp. (OTCPK:ASFH) entered into an agreement to acquire StarFIN Holdings Limited from Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin for $9.1 million on December 22, 2022. Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin have agreed to sell the StarFIN Holdings an 100% equity stake in SFHL in consideration of a new issuance of 8,232,038 restricted shares of the AsiaFIN common stock, valued at $9.1 million. Both Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin and AsiaFIN hereby agreed the business value of StarFIN to be US$9.1 million. The Business Value includes, comprises, covers all the customers, fixed assets, cash and cash equivalents, liabilities of StarFIN as at the date of December 22, 2022. Wong Kai Cheong, with shareholding of 57.10%, Hoo Swee Ping, with shareholding of 40.22%, Ang Teck Kong, with shareholding of 1.32%, Ng Kai Thim, with shareholding of 0.88% and Cham Hui Yin, with shareholding of 0.48%. On or before December 31, 2022, Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin shall deliver, for transmittal to AsiaFIN, duly authorized, properly and fully executed documents in English, evidencing and confirming the sale of 100% of the shares of StarFIN and its assets specifically detailing the assets and an asset valuation by a third-party valuator. The acquisition is targeted to accomplish before end of February 28, 2023.
AsiaFIN Holdings Corp. (OTCPK:ASFH) completed the acquisition of StarFIN Holdings Limited from Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin on January 23, 2023.
AsiaFIN Holdings Corp. is an investment holding company. The Company, through its subsidiaries, is engaged in providing information technology services. The Company offers a range of system solutions in payment processing, robotic process automation (RPA), and regulatory technology (RegTech) to financial institutions, regulatory agencies, professional service providers and private enterprises from various industries, with existing client in the Asia region. It offers a Web-based payment processing system for check clearing used in central banks, financial institutions and payment system providers. Its reporting platform covers financial statistics reporting, credit risk exposure and analysis, risk management reports, FATCA & CRS reporting, external sector reporting, goods and services tax (GST) reporting for reporting entities. Its system automates the capturing of customer information from identity cards, passports and other identification peripherals.
AsiaFIN Holdings Corp. completed the acquisition of StarFIN Holdings Limited from Wong Kai Cheong, Hoo Swee Ping, Ang Teck Kong, Ng Kai Thim, and Cham Hui Yin.
ASIAFIN HOLDINGS CORP. 
