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SinoPayments

24 Posts
Pagina: 1 2 »» | Laatste | Omlaag ↓
  1. making alot of money 24 februari 2012 07:04
    Een engelstalig artikel over Sino Payments

    Sino Payments has its sights set on the big prize

    Founded by the entrepreneur Benny Lee, TAP specialises in the point of sale retail systems used by the large multiples and works as a sub-contractor for Wincor-Nixdorf.Founded by the entrepreneur Benny Lee, TAP specialises in the point of sale retail systems used by the large multiples and works as a sub-contractor for Wincor-Nixdorf.

    The recent announcement by Sino Payments (PINK:SNPY) on its tie-up with China’s Bank of Communications gave a hint of the quality and the scale of the opportunities likely to emerge in the next 12 months.

    The group, which specialises in transaction processing systems, has sealed a deal which introduces BoC’s 20 million cardholders to large Hong Kong luxury retailers.

    At least 4 million of these card-carrying members of China’s newly minted middle classes live in Guangdong Province, which gives them easy access to the former colony.

    Sino Pay will receive a percentage of the value of transactions generated, which creates the blue-print for future tie-ups.

    It also marks the first major commercial development since Sino Pay revealed plans to merge with local retail systems specialist TAP Investments Group.

    Founded by the entrepreneur Benny Lee, TAP specialises in the point of sale retail systems used by the large multiples and works as a sub-contractor for Wincor-Nixdorf.

    Its local markets are Hong Kong, China, the Philippines, Malaysia and Thailand, and it has a very impressive roster of clients.

    It includes the AS Watson, the giant retail division of billionaire Li Ka-shing’s Hutchison Whampoa, which is active in 37 separate territories and owns the Superdrug chain here in the UK.

    TAP’s other blue-chip clients include SM Malls and Robinsons Retail Group, two of only five major retail chains in the Philippines, and SOGO Hong Kong.

    Post-merger, the plan is to grow the TAP business by embedding it deeper with existing customers, and winning new contracts.

    The growth is expected to begin with the existing long term TAP clients some for whom TAP has been providing service for 24 years.

    “We have projects to extend existing services, the first being to consolidate their credit card processing function,” revealed chief executive Matthew Mecke.

    “So instead of 30 different countries and 30 different banks we have a project we are working on with First Data that we sign one contract for one price globally and we implement it across the retailers’ international footprint.

    “They are the kind of things we want to extend from the current local market, private company service provision into more of a regional or international service provision.

    “And this is with the existing customers. Once we complete this, we hope to get enquiries from other companies which might want something similar.”

    There is also the huge opportunity to add e-commerce into the mix, which will enhance the product offering.

    And as the BoC deal illustrates, it also opens up a potentially lucrative new revenue scheme.

    With the BoC agreement TAP is pioneering an electronic loyalty card that goes everywhere you take your mobile phone.

    However the big opportunity is presented by virtual gift cards, where the $400 cap on taking money out of the People’s Republic provides a ready and substantial potential market.

    The use of these virtual gift cards offers the Chinese a means of spending more than their allotted sum of cash outside the country, whether it be on smart clothes or visit to the gambling Mecca of Macao.

    The early movers in this field are only just getting off the ground in the US, but already we are seeing a lot of venture capital and retail industry money going into this fledgling sector.

    “In the States there are two companies doing these virtual gift cards and they have US$25-30 million of funding from the major retailers and VCs,” said Mecke.

    “While they won’t overtake credit cards, gift cards have the potential to be a big business.

    “If you add loyalty cards and VIP cards and you roll them together you got a nice little programme. There’s nobody in Asia doing this apart from us.”

    Lee and the major TAP shareholders will own 50.1 per cent of the enlarged group and will take a seat on the board. Mecke, meanwhile, will remain at the helm of Sino Pay as chairman and CEO.

    TAP’s last published results (covering 2010) reveal the group was turning over US$4 million for a net profit of US$700,000.

    The current growth rate is a healthy 20-40 per cent, which suggests profits should reach at least $1 million in 2012. And this is without the addition of new contract wins such as BoC.

    Similar businesses in the sector are valued at 13 to 35 times prospective earnings. So an enlarged Sino Pay (including TAP) could credibly be valued at more than three times the company’s current market capitalisation.

    However the aspirations are far grander than this. The plan is to take the group to NASDAQ full listing.

    This will require a huge lift in sales and profits and a commensurate surge in the share price to around $4 from a current price of 6.85 cents!

    Perhaps a more realistic intermediate step might be an AMEX listing when the share price goes above US$2.50.

    “The whole idea of the merger is that Benny (Lee), the TAP founder, wants to be full listed NASDAQ,” said Mecke.

    “Benny knows this is the plan and he has a lot of projects to get us there. But we are six cents at the moment.

    “We are going to let loose the pent up energy of this private company that has never borrowed a dime and has just gone about making money.

    “We are going to try and take full advantage of the relationships (it has) and the customer base. We have a fairly busy four to five years with just what we have on the table now.”
  2. making alot of money 27 maart 2012 18:15
    Sino Payments, Inc. (OTCQB: SNPY.PK - News) has agreed as per previous corporate announcements to merge TAP operations as of 2010 including new contracts with Wincor Nixdorf for approx. 1,500 China, HK, and Macau stores into Sino Payments and this process continues and is ongoing.

    Although the merger transaction has not been concluded and will not be concluded until the upcoming shareholder vote and ratification of the merger during the Annual General Meeting which has yet to be confirmed and announced, TAP and Sino Payments have agreed to merge and additional related information will be released as soon as such dates are confirmed.

    TAP clients include some of the largest and most well-known Asian retail merchants including:

    AS Watsons Group (Hong Kong, China) 9,500 locations in more than 37 countries
    Sogo Department Stores (Hong Kong)
    PCCW (Hong Kong)
    CTM (Macau) Macau's primary Telecom Fixed Line operator
    Robinsons Department Stores (Philippines) 2nd largest Mall operator in the Philippines in addition to approx. 1,000 retail stores owned and managed by Robinsons

    Sino Payments President and Founder Matthew Mecke stated, "The merger agreement between TAP and SNPY is agreed and the process to merge is in progress. We realize this process is taking some time and apologize for the delays. We will have additional related announcements soon and will make such announcements as soon as possible."
  3. making alot of money 10 mei 2012 10:11
    Antwoord op mij vraag

    Would you file a company for bankruptcy just before a large and lucrative merger?

    I understand your question but it is not logical to think SNPY or any such company with near zero costs and near zero payables, etc. would file for bankruptcy before such a merge.

    Maybe you just want all to happen quickly but this is now basically up to TAP in terms of timing.

    Reason for delay is Benny Lee of TAP will decide exactly how it fits into his development plan for TAP and its' various divisions soonest and then we will file all proper paperwork and have a merger ratification Annual General Meeting. This is not now fixed and hope to have done soon.

    Economic crisis does not affect TAP as they are growing and signing additional clients as their services in terms of technology for payments at the point of sale is 10-20 years behind the US and EU so lots needed for their clients and long term good future.

    No smoking gun here...no problems but timing is up to Benny and he has already stated many times we will do as soon as possible.
  4. making alot of money 8 november 2012 10:11
    Sino Payments, Inc. Completes Merger With TAP Investments Group

    HONG KONG, Nov. 6, 2012 /PRNewswire/ -- sinopayments.com/ Sino Payments, Inc. (SNPY) is pleased to announce plans to conclude its merger with TIG operations.

    All shareholders of record of Sino Payments have received the Definitive 14C notification required to take corporate actions needed to complete the merger and fold TIG into Sino Payments, Inc.

    Sino Payments expects to complete the process as described in the recently filed 14C and to conclude the integration of TIG operations, revenues, clients, and ongoing developments within this year 2012.

    The integration completed today significantly contributes to margin improvements and sustainability of Sino Payments, Inc. as well as enhancing future prospects for TIG. Further, the merger offers TIG a solid growth platform in the retail solution market.

    With over 20 years of experience, TIG has gained invaluable experience and know-how on how to help retailers to stay ahead of the competition. The company's continuous success is reflected in its core business growth i.e. a 25% Year-on-Year (YOY) in 2010.

    Sino Payments' President and Founder, Matthew Mecke, stated, "We have been working towards this day for several years and I am proud we can finally announce that we have set the date to complete this merger between Sino Payments and TAP. Sino Payments' diversified portfolio in the IT solutions industry and the continuous execution on our strategic priorities provides TIG the strength and advantages to benefit from current trends in IT solutions as well as protection from macroeconomic effects. We will continue to keep our shareholders informed of our future joint operations."

    Benny Lee, Founder of TIG also added, "We have been planning for this merger for months and are very excited that it will happen soon. Once it is completed, we will concentrate on transforming Sino Payments Inc. into a prime IT solutions provider in the Asia region. This leverage gives our customers confidence that our services work together as designed. This helps reduce risk and improves performance for our customers and provide exciting opportunities for our employees. By combining with Sino Payments Inc., TIG further expands its capabilities, adds new customer relationships in its target markets, and expands its footprint with its existing customers."

    About TAP Investments Group (TIG):

    TIG is the holding company of TAP Services (HK) Ltd and Shanghai-based Company, ZhaoHeng Computer Technology (Shanghai) Co. Ltd.

    Our strategic partners are key players in the retail IT solutions industry. They include Retalix Ltd., Wincor Nixdorf International, TAPServices Inc., an international technical services company located in Manila as well as technical solutions company - Value Exchange International Limited (VEI).

    Together, we are a leading provider of IT solutions for organizations primarily in the retail sector.

    By integrating market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and retail CRM solutions, TIG provides retailers with the capability of offering a consistent shopping experience across all channels, enabling them to easily and effectively manage the customer lifecycle on a one-to-one basis.

    TIG is headquartered in the Hong Kong Special Administrative Region (HKSAR) with offices in Macau Special Administrative Region (MSAR), Shenzhen, Guangzhou, Shanghai, and Beijing with around 150 staff.

    TIG's impressive client list includes some of the largest and most well-known Asian retail merchants:

    -The Government of the Hong Kong Special Administrative Region (HKSAR) – TSL appointed vendor and service provider for the upgrade of the Government's Cash Receipting System (GCRS) for the Inland Revenue Department (IRD).

    -A.S. Watson Group (HKSAR) - largest health and beauty group in the world operating in over 10,000 stores in more than 37 countries, serving over 26 million customers per week.

    -SOGO Department Stores (HKSAR) - One of Hong Kong's largest and most prestigious department stores

    -PCCW (HKSAR) - largest telecom service provider and electronic retail chains in HKSAR

    -CTM (MSAR) – largest and only full telecom service provider in Macau

    -Robinsons Retail Group (Philippines) - Philippine retail conglomerate with over 600 multi-format retail outlets across the country led by Robinsons Supermarket, Robinsons Department Store, Handyman plus alliances for global brands like Toys 'R' Us, Topshop, Ministop, etc.
  5. making alot of money 18 januari 2014 15:24
    TAP subsidiary company signs contract to provide IT services to world leading health and beauty retailer at its 1800 outlets in the People’s Republic of China

    SHANGHAI, China, September 17, 2013 - (ACCESSWIRE) -Sino Payments, Inc. (SNPY) a technology company providing Internet Protocol transaction processing services in the retail industry, today announced that following the recently announced merger of Sino Payments and TAP Investments Group ("TAP"), Zhao Heng Computer Technology (Shanghai) Co. Ltd., a TAP wholly owned subsidiary, has signed a contract with existing client, a world leading health and beauty retail giant. The USD 1 million contract is for the provision of system upgrade services to the retailer's 1800 outlets in the People's Republic of China for the next twelve months.

    TAP Investments Group and Sino Payments have completed the merger in April 2013. As from the date of conclusion of merger, all TAP activities, including this new contract, will be folded into the post-acquisition financial results of SNPY in 2013.

    This is the first new sizable contract to be announced under the newly combined Sino Payments (TAP included into and combined into the existing Sino Payments).

    Matthew Mecke, CEO of Sino Payments, Inc. proclaimed, "We are excited to announce this first large project signed by our merger partner TAP. TAP has a great deal of experience and a large retail footprint in Asia and particularly in the Greater China region with several current and future projects. We hope to be able to enter into these lucrative markets and serve many more such projects in the coming months."

    Kenneth Tan, CEO of TAP Group stated, "This new contract with our valued long term client, one of the world's largest retail conglomerates, is a great milestone for us here at TAP. Such coverage is critical to the success of our core business model, which has maintained a strong foothold in China. Our efforts have been recognized in our client's selection for this contract and we are confident that we will continue to provide top quality services and on time delivery in this project. We hope this allows us even better positioning to play a leading role in the ever-expanding Chinese market."
24 Posts
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