14 Jan YuuZoo and Leading Hong Kong Investment Group Hamon Form Joint Venture to Build New Social E-commerce Network for Financial Products & Services for China
New network enables the offering of financial products and services in a targeted social environment.
Joint venture targets the fast-growing Asian investing community, in particular Chinese investors.
Singapore, January 14th , 2015: Singapore-based YuuZoo Corporation Limited (“YuuZoo” SGX: AFC), the world’s first third generation social e-commerce company is pleased to announce that it has entered into a joint venture agreement with Hong Kong-based Hamon Private Equity (“Hamon”) to develop a targeted social e-commerce network for investors, offering a wide range of financial products and services.
The network will showcase and distribute a wide array of financial products and services. Users will be able to interact directly with, and get investment advice from specialists in the financial community. Targeted primarily at the China audience, the network, named YuuInvest, will initially be nested under YuuZoo’s Chinese site, www.yuuzoo.cn.
Under the agreement, YuuZoo will be entitled to a pre-agreed proportion of the revenue generated from the network. The revenue is expected to come from e-commerce and advertising revenue, as well as fees generated as a result of transactions completed through YuuInvest.
Hugh Simon, Chief Executive of Hamon said, “We are extremely excited by the opportunities in the financial sector created by the connected audience in China. Utilizing the YuuInvest platform, we will provide integrated mobile and video business and financial services, combining news, research, education, accreditation and portfolio management for the socially connected financial community. These open architectural services will assist our existing and prospective clients to make better, more informed and ultimately more profitable investment decisions.
The adaptability and scalability of YuuZoo’s social networks and broadcast video were key considerations for embarking on the social media route. We are confident that the inclusion of YuuZoo’s social media capabilities, as a key communication channel to our existing and prospective clients, will enhance Hamon’s standing and product offerings within the fast-growing Chinese investment community.”
Speaking on the joint venture, Thomas Zilliacus, Chairman and CEO of YuuZoo remarked, “We see huge potential in this new venture. Through our existing partnerships, we have a very strong position and a very wide reach in China. Investments by Chinese investors are growing very rapidly. Through the partnership with Hamon, a well-established investment group with long-term focus, we will be able to serve Chinese clients an exciting new range of financial products and services”
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ABOUT HAMON INVESTMENT GROUP
Hamon Private Equity Ltd is part of the Hamon Investment Group based in Hong Kong and was founded in 1989 to provide investment management services in Asia. Hamon has been managing Asian equities in Hong Kong for over 24 years and seeks to build up a trusted, long-term partnership with their clients. With over US$1 billion asset under management, Hamon is a client driven organization committed to providing high quality service for their institutional clients across a product range that encompasses mutual funds, separate accounts and sub-advised funds.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), with access to over 85 million registered users in 164 countries, YuuZoo in a unique way combines social networking and e-commerce in a mobile-optimized, fully localized virtual shopping mall, where the consumer can access hundreds of targeted social networks, targeted shops and targeted entertainment through one single login. All networks are localized for each market as comes to language as well as merchandise and design. To see the networks, log into: www.yuuzoo.com or www.yuuzoo.cn. For more information about the company, please log on to: www.yuucorp.com.
Macquarie Capital (Singapore) Pte. Limited (“Macquarie”) was the financial adviser to W Corporation Limited (now known as YuuZoo Corporation Limited) in relation to the acquisition of the entire issued and paid-up share capital of YuuZoo Corporation and its subsidiaries