SUIC and iDrink Announce Joint Venture Company and Headquarters in Malaysia for iDrink Smart IoT Vending Machines Distribution in the Global ASEAN Economic Community
This Joint Venture Will Redefine Drinking Experience For the Consumers in the AEC in Innovative and Exciting Ways
SUIC and iDrink have established a 50:50 joint venture company in Malaysia. The joint venture “iDrink SUIC Malaysia Sdn Bhd” will accelerate the development and distribution of iDrink Smart IoT Vending Machines in the ASEAN emerging markets. This joint company aims to create seamless smart IoT beverage vending services as a gateway to the millions of beverage consumers in the region. SUIC has expertise in identifying new trends and technologies and a strong understanding of the ASEAN ecosystem that will move forward iDrink business in the region’s beverage and food sector.
The long-term joint venture is based in Klang, Selangor, Malaysia and will serve markets in Malaysia, Indonesia, Laos, Philippines, Singapore, Thailand, Brunei, Cambodia, Myanmar, and Viet Nam, supported by the newly-implemented single market, the ASEAN Economic Community (AEC) of the ASEAN Vision 2020 initiative. In line with the continued economic growth in Southeast Asia, this joint venture will elevate the beverage experience for the region’s 650 million consumers and will expand marketing in the AEC for the iDrink Smart IoT beverage vending packages, Drink Coin virtualization, iCloud cloud solutions, and data center services.
The joint company will generate a larger pool of resources and will leverage iDrink global brand as well as SUIC’s networks and expertise in its role as a gateway for international brands to reach millions of consumers worldwide.
The joint company iDrink SUIC Malaysia Sdn Bhd’s base network will expand sales of iDrink systems, develop business partnerships with companies in the region, and manage iDrink business on its iCloud platform. iDrink SUIC Malaysia Sdn Bhd. will install 500 iDrink Smart IoT beverage vending machines in various cities in Malaysia in the last quarter of 2020. It will also market directly to the consumer base, providing services including sales, promotion, and marketing, installation, support and maintenance of the iDrink packages.
There is US$5.3 trillion worth of global trade that passes through ASEAN each year, with a combined gross domestic product of US$2.4 trillion. It is the third-largest economy in Asia and the seventh-largest in the world. The region’s E-commerce is the most dynamic sector of the digital economy, accounting for close to US$11 billion in gross merchandise value (GMV) in 2017, exceeding US$23 billion in 2018.
About iDrink Technology Co. Ltd.
iDrink Technology Co. Ltd., Taiwan (“iDrink”) designs the iDrink Smart Vending Machine, for the global trillion-dollar beverage industry, utilizing cloud platform services that consolidate consumption data from beverage manufacturers and consumers alike, and uploading the data to its blockchain-enabled iDrink Smart Vending Machine. iDrink Smart Vending Machine is a beverage vending machine and a cryptocurrency mining machine, as well as an O2O digital currency ATM terminal. iDrink Smart Vending Machine manages real-time inventory information, track fleet of beverage suppliers, offer myriad of data about its consumers’ habits and spending through a seamless cryptocurrency payment system, using business intelligence and analytics solutions with the Internet of Things (IoT), Bluetooth and RFID tags.
iDrink Smart Vending Machine is the world’s first-ever beverage E-commerce and social exchange platform, a smart IoT vending machine first-ever of its kind! iDrink will construct an O2O ecosystem by making available the iDrink tokens and coins to users worldwide. Thus, connecting its blockchain technology with the IoT through Bluetooth on smartphones and other devices. To learn more, please visit www.idrink.com.tw
About Sino United Worldwide Consolidated Company
The Sino United Worldwide Consolidated Company provides Venture Financing and Blockchain services to five sectors including: “Logistics & Trade”, “Vehicle & Transportation”, “Finance & Coin”, and “Medical & Healthcare”, and a new addition, “Fintech.” The addition of the Fintech sector to SUIC’s Blockchain services includes a comprehensive update in which SUIC will build up its own internal capabilities by actively starting a Blockchain training program, developing a 3rd generation Smart Contract Blockchain under the SUIC brand, and using these capabilities to offer a comprehensive ICO consultancy. Shareholders of SUIC will be exposed to the diverse application of blockchain services in various parts of the economy. Additionally, existing and potential customers can benefit from this company’s diversified portfolio of technologies and consulting services in these sectors. As one of the first publicly traded technology companies, SUIC serves as an innovative leader by integrating these sectors. To learn more, please visit www.sinounitedco.com.
Forward-Looking Statement
Certain information set forth herein contains, including future-oriented financial information; and financial outlook, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained herein are based upon what management of the Company beliefs are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Contacts Sino United Worldwide Consolidated Ltd. New Release Department 718-395-8706
Source: Sino United Worldwide Consolidated Ltd © 2019 GlobeNewswire, Inc.