Proactive Investors - RC365 Holding PLC (LSE:RCGH) said it is exploring several opportunities and business relationships with corporates located in the United Kingdom, United States, Malaysia and Hong Kong.
Chi Kit Law, chief executive, added it expects to open an office in the UK in early 2024, having just set up a Malaysian subsidiary.
The Malaysian business will become the hub for developing R&D, IT operations, customer service and other operating activities in the ASEAN market.
In the UK, the new office will promote AI services under its exclusive rights deal with YouneeqAI's Platform.
YouneeqAI was one of several partnerships signed by the payments group during the six months to September 2023.
RC365 also signed a US$15 million deal with Hong Kong group APEC to develop its RC3.0 app while there were also partnerships with Unitrust Global, Mastercard (NYSE:MA) card group Key Solutions and Cooper Technology.
In its interim statement, RC365 said it expects that its prepaid card service agreements with Key Solutions and UniTrust Global will become one of the key growth engines for the coming two to three financial years in Hong Kong, Japan and Malaysia.
The payments group posted revenues of HK$6.8 million (HK$7.9 million) in the six months to end of September 2023, with a loss before write-downs of HK$3 million and a pretax interim loss of HK$34.8 million (£3.5 million).
Cash balances at the end of the half-year were HK$16.8 million.