KUALA LUMPUR, MALAYSIA / ACCESSWIRE / October 24, 2023 / Greenpro Capital Corp. (NASDAQ:GRNQ) today announced the 2UT STO token, issued by Australia's Brighsun EV Group, has started trading on October 23, 2023. Users can now trade 2UT token on Green-X, a Shariah-Compliant ESG Digital Asset Exchange licensed by Labuan Financial Services Authority (LFSA). Green-X is a wholly owned subsidiary of Greenpro Capital Corp.
2UT is the first Islamic digital asset, or RAMZ as known in Arabic, launched under Labuan's Islamic Digital Asset Centre or IDAC initiative that was unveiled by LFSA in October 2022. IDAC is a digital gateway that will play a significant role as a fund raising and investment hub in the global digital space, with a niche in Environmental, Social and Governance (ESG) and Shariah compliant activities. IDAC will facilitate companies especially SMEs to digitally securitise their assets to back their fund raising and issue token to be subscribed by investors and traded on the exchange. The underlying infrastructure of IDAC will be Shariah-compliant blockchain that will supplement the IDAC players and their products with Shariah-compliant smart contracts and decentralised applications.
Brighsun CEO, Nicholas Lee said, "We are excited to be the first RAMZ to trade on Green-X. We intend to use the funds raised to initiate the first batch of car production. We are committed in delivering the first car to our customers in a year's time."
Greenpro CEO, Dr. CK Lee said, "We welcome Malaysia's recent 2024 Budget announcement that offers fiscal incentives for Labuan Business and Finance Centre (Labuan IBFC) to support the development of the center into an Islamic financial hub. The full income tax exemption for five years would give us great incentives to continue promoting Islamic finance activities in this region. We look forward to a few more STO listing on Green-X before the year ends."
About Brighsun Limited
Brighsun New Energy's Lithium Iron Phosphate (LFP) battery won the Guinness World Record in Nov 2015 for the Greatest Distance travelled by an Electric Bus (non-solar) on a single electric charge - 1,018 kms.
Through nearly 8 years of research, the scientists at Brighsun New Energy have successfully developed new lithium-sulphur (Li-S) battery cathode material with an energy density higher than conventional secondary batteries. Brighsun's new energy - 2U battery is expected to accelerate EV take-up around the world, significantly increase mobile phone battery capacity and solar-electric storage. For further information please visit https://www.brighsun.com/index.html
About Greenpro Capital Corp
Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ:GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale. This is done through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services include, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.
For further information regarding the company, please visit http://www.greenprocapital.com.
The Green-X exchange can be found at https://www.green-x.io/
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
GRNQ has 7,575,813 million shares issued and outstanding with a float of 3,831,677 shares
Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Phone: +852-3111 7718
SOURCE: Greenpro Capital Corp.
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