Hang Tai Yue Group Holdings Limited

Provision of professional IT contract and maintenance services

The Group is providing professional information technology contract and maintenance services through its subsidiary – EPRO BVI Limited, which is a CMMi5 accessed information technology and software outsourcing provider that tailor-made professional IT solutions for sizable corporate clients. The core IT businesses include enterprise software applications, mobile internet applications, mainframe downsizing, application localisation and systems integration. Building on its strong foundation in the provision of IT solutions services, the Group has been exploring new business opportunities in the development of other applications platforms to increase and diversify its income sources.

Mobile internet cultural business

In March 2021, the Group acquired 51% of issued share capital of TNG Indonesia Holdings Limited. TNG Indonesia Holdings Limited holds 79% of the issued shares of a company incorporated in Singapore, which holds 99% of the issued shares of PT TNG Wallet Indonesia. PT TNG Wallet Indonesia holds 49% of the issued shares of PT Walletku Indompet Indonesia. 51% of the issued shares of PT Walletku Indompet Indonesia is held by an individual who has pledged such interest in favour of PT Walletku Indompet Indonesia pursuant to the contractual arrangements. For the detail of the contractual arrangements, please refer to the below attachments.

PT Walletku Indompet Indonesia is principally engaged in (1) Indosat mobile top-up distribution business and (2) the cobranding “W-Cash” electronic wallet with a licensed e-money issuer in Indonesia pursuant to the cooperation between PT Walletku Indompet Indonesia and such e-Money issuer. The Group believes that its investment in the TNG Indonesia Holdings Limited provides it an opportunity to develop its business in Indonesia as well as the bordering areas, and will also strongly complement the Group’s mobile internet cultural business and provision of IT services and money lending business as well as providing overall synergistic benefits to its principal activities.

The Group currently owns 28.8% issued share capital of Something Big Technology Holdings Limited, which is principally engaged in the design, development, marketing, distribution and operation of mobile-online games.