| |||||||||||
| |||||||||||
| |  |  | ||||||
| |||||||||
|  |  | |||||||||||||||||
|  |
| |||||||||||||||||
|  |  | |||||||||||||||||
 | |
|
Asia Payment Systems Signs Agreement to Acquire Established Consumer Rewards and Payment Card Operations in China July 25, 2006 (Hong Kong) - Asia Payment Systems, Inc. (OTCBB: APYM) today announced that it has signed an agreement in principle to acquire Global Uplink Communications Ltd. (“Global Uplink”), a Chinese company based in Guangzhou, China, with established loyalty program operations and related services in China and Hong Kong. The agreement, which is subject to standard due diligence procedures as well as final documentation by both parties, should likely be finalized in the fourth quarter of 2006. Global Uplink, which was established in 2001, will bring to Asia Payment successful operations in business processes outsourcing (BPO), loyalty programs, customer relations management (CRM) as well as additional consumer services. The Company conducts business in what is recognized as the rapidly growing regions within China, including Guangzhou, Dongguan and Hong Kong. The Company’s client base includes financial institutions and multi-national corporations that are operating in these areas. Mr. KK Ng, CEO of Asia Payment, stated “Global Uplink is a well-managed, growing company whose dedicated and experienced senior staff has exhibited an excellent track record over its few short years of operation. In addition, Global Uplink’s CRM and call center operations are currently profitable, and acquisition of the company will immediately provide Asia Payment with a minimum of US $1 million per year in revenue.” Mr. Ng continued “We intend to thoroughly capitalize on Global Uplink’s strong client base, marketing our payment processing services as well as card and loyalty rewards programs to them.” In addition to gaining Global Uplink’s established business-client base, Asia Payment will also be the benefactor of significant consumer data on the emerging middle-class in China. Mr. Chen Yu Hua, Founder and General Manager of Global Uplink, stated “We are very excited to become part of the Asia Payments family, and we firmly believe the combined strength of both of our organizations will greatly increase our revenue growth potential in the enormous market that China’s emerging middle class represents.”
About Asia Payment Systems, Inc. Asia Payment Systems is a fully reporting US public company with its principal offices in Hong Kong and business activities keenly focused within the payment processing and loyalty rewards industry in China and throughout Asia. Asia Payments’ recently formed wholly-owned foreign enterprise in Shanghai serves as its business development vehicle in China. Following the also recent acquisition of InterPay, Asia Payments now owns assets and operates in multiple locations across Asia. Its long-term growth strategy is in place and calls for the development of various synergistic businesses throughout the region. For more information please visit Asia Payments’ corporate website (www.asiapayinc.com).
Contacts:
Asia Payment Systems, Inc.:
Investor Relations in the U.S.: Source: Asia Payment Systems, Inc.
| |
|
© 2006 Asia Payment Systems, Inc. |
