KUALA LUMPUR - GreenX, a subsidiary of Greenpro Capital Corp (NASDAQ:GRNQ), is set to sign a Memorandum of Understanding (MOU) with Dubai-based Sharia Digital Technologies FZ LLC and Indonesia's PT Digital Syariah Teknologi (DST) on Tuesday. The signing event, to be held in Dubai, marks a significant step for GreenX as it aims to expand its Shariah-compliant digital asset exchange services globally.
The collaboration is poised to enhance financial inclusivity by providing access to Shariah-compliant digital assets to Islamic communities worldwide. According to GreenX's Chief Exchange Officer, Philip Tam, the partnership is centered on creating a financial ecosystem that aligns with social value economy principles in the digital space.
Tam highlighted the potential benefits for small and medium enterprises (SMEs), farmers, and fishermen in Indonesia, who will gain improved access to financial resources in accordance with Shariah principles. The event will also feature the announcement of GreenX platform token (GXT) pre-sales, which Tam describes as an opportunity for early adopters to engage with Shariah-compliant financial services.
Distinguished attendees at the ceremony will include KH. Moh. Hasan Mutawakkil, Chairman of the East Java MUI, H.E. Husin Bagis, Ambassador of Indonesia, H.E. Dr. Muhamad Saeed AlDhaheri, Ambassador of Malaysia, and officials from the UAE Ministry of Economy. Dr. CK Lee, Co-founder and Group CEO of GreenPro Capital Corp, will also be present, underscoring the global significance of the agreement.
GreenX operates under the Labuan Financial Services Authority in Malaysia and is part of Greenpro Capital Corp's diverse business portfolio, which includes finance, technology, and banking, among other sectors. Greenpro Capital Corp provides a range of cross-border business solutions and services to businesses and High-Net-Worth-Individuals in Asia.
The information in this article is based on a press release statement. The forward-looking statements in the press release are subject to various risks and uncertainties and are not guarantees of future performance. Greenpro Capital Corp's shares are publicly traded, with an issued and outstanding share count of 7,575,813 and a float of 4,089,641 shares.
InvestingPro Insights
As Greenpro Capital Corp (NASDAQ:GRNQ) forges ahead with its strategic partnerships to expand Shariah-compliant digital asset exchange services, the financial metrics provided by InvestingPro offer a snapshot of the company's current standing. With a market capitalization of $7.27 million, Greenpro Capital is navigating the competitive landscape of digital finance. The company's commitment to innovation is evident, though it is important to note that it has not been profitable over the last twelve months, which is a critical consideration for investors.
InvestingPro Tips for Greenpro Capital Corp suggest that the stock has experienced significant return over the last week, which could be indicative of market reactions to strategic movements such as the upcoming MOU signing. Additionally, the stock is known to trade with high price volatility, a factor that may appeal to certain investors looking for short-term gains but could also signal caution for those seeking long-term stability.
Key financial data from InvestingPro shows that the company has a negative P/E ratio of -1.15, reflecting challenges in generating profits in the recent period. Revenue for the last twelve months stands at $3.26 million, with a gross profit margin of 83.97%, highlighting the company's ability to maintain a high margin on its services. However, revenue growth has declined by 7.66% over the same period, pointing to potential headwinds in sales or market demand.
For investors interested in further analysis, there are additional InvestingPro Tips available that provide deeper insights into Greenpro Capital Corp's financial health and market performance. These tips can be accessed through the dedicated InvestingPro platform, offering a comprehensive toolset for informed investment decisions.
It is worth noting that Greenpro Capital Corp does not pay dividends to shareholders, which may influence investment strategies, particularly for those seeking regular income streams from their stock holdings. As the company embarks on its latest venture, these financial metrics and expert tips from InvestingPro will be essential for stakeholders monitoring Greenpro Capital's growth trajectory.
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