Welcome to our dedicated page for Treasure Global news (Ticker: TGL), a resource for investors and traders seeking the latest updates and insights on Treasure Global stock.
Treasure Global Inc. (NASDAQ: TGL) is a Malaysia-based technology solutions provider that focuses on digital platforms for retail, services, fintech, and digital assets. News about Treasure Global often centers on the development and commercialization of its ZCITY Super App, its OXI Wallet digital asset platform, and its broader fintech and real-world asset tokenization strategy in Southeast Asia.
Company updates highlight operational and strategic milestones, such as user growth on the ZCITY platform, progress on OXI Wallet, and the UNIRWA real-world asset token initiative managed through subsidiary Tadaa Technologies. News releases also cover corporate transactions, including the acquisition of Quarters Elite Advisory Sdn. Bhd., which adds a nationwide financial advisory network intended to support distribution of OXI Wallet and digital asset products.
Investors following TGL news will see frequent coverage of capital markets activity, including registered direct offerings of common stock under a shelf registration statement, the conclusion of an equity line facility, and voluntary lock-up agreements by major shareholders. Regulatory and listing-related developments, such as the company’s 1-for-20 reverse stock split and its subsequent regaining of compliance with Nasdaq’s minimum bid price requirement, are also documented through press releases and Form 8-K filings.
Operational news extends to service and consultancy agreements related to digital currency wallet and exchange platform services, management consultancy, and marketing support, as well as technology purchases such as an AI server. Together, these disclosures provide insight into how Treasure Global is building its fintech and digital-asset ecosystem around ZCITY, OXI Wallet, UNIRWA tokens, and the Quarters Elite advisory network. This news page allows readers to track these developments, capital structure changes, and governance updates over time.
Treasure Global Inc (TGL) announced the appointment of Mr. Carlson Thow as its new CEO, replacing Mr. Sam Teo. Mr. Thow, previously Group Chief Legal Officer at VCI Global , brings extensive experience in corporate leadership, business strategy, and transformation. At VCI Global, he was pivotal in the company's transition to a publicly listed entity on Nasdaq, revenue growth, and enhanced shareholder value. Mr. Thow holds degrees in law and business administration and has a strong background in mergers, acquisitions, and corporate finance. The Board expressed gratitude to Mr. Teo and confidence in Mr. Thow's ability to drive Treasure Global's strategic direction and growth. Mr. Thow's compensation includes $120,000 worth of shares, issued monthly during his first year.
Treasure Global has announced a 113.5% increase in transactions for TAZTE, its innovative digital food and beverage management system. The total number of transactions reached 7,540, and the number of monthly transacted users rose by 55% to 3,752. This significant growth was achieved without any additional marketing funds.
The market for mobile POS payments in Malaysia is projected to reach $4.73 billion by the end of 2024 and $10.04 billion by 2028, presenting substantial growth potential for TAZTE. The company has extended the complimentary trial period for TAZTE until June 2024, allowing for further development and user feedback.
TAZTE has also introduced new features, including automated order acceptance and error troubleshooting, aimed at optimizing operations and increasing revenue for merchants. The system integrates with Treasure Global’s ZCITY app, leveraging a user base of over 2.6 million to provide valuable customer insights and enhance profitability.
Treasurer Global aims to revolutionize the F&B industry in Malaysia, driving operational efficiencies and boosting profitability for its merchant partners.
Treasure Global (NASDAQ: TGL) has secured a US$2 million contract from ELMU Education Group to deploy a Smart Campus Management System. The global smart learning systems market is projected to reach US$103.08 billion by 2026, with a CAGR of 22.5%, while the IoT in Education market is expected to grow from US$11.17 billion in 2024 to US$48.23 billion by 2031 at a CAGR of 20.06%. The system, supporting over 500,000 smart hardware devices, aims to enhance energy data insights, device management, and green energy initiatives, promoting efficiency and sustainability in educational institutions.
Treasure Global announced a strategic collaboration between its subsidiary, ZCITY, and a leading telecommunications company to launch an AI-powered crypto mining service integrated with ZCITY’s new Mobile Virtual Network Operator (MVNO) offerings.
The initiative leverages advanced AI algorithms to optimize crypto mining processes, creating a profitable new revenue stream. The partnership aims to tap into a projected US$135 billion market opportunity by 2030, generating an anticipated US$25 million annual revenue.
With a current user base of 2.69 million and 20,000 active users, Treasure Global aims to grow to 100,000 active users within 12 months, increasing monthly revenue fivefold to US$2 million. This move strengthens Treasure Global’s commitment to blockchain technology and positions them for substantial growth in the telco and crypto markets.
Treasure Global (NASDAQ: TGL) reported its third-quarter fiscal year 2024 results, highlighting a 47% year-over-year increase in gross profit to $0.22 million. The company secured a $2 million marketing contract for Korean beauty products and emerged as the exclusive partner for an AI Blockchain Wallet on Telegram.
TGL's revenue for the quarter stood at $1.6 million, a decrease from $6.7 million in Q2 2024, reflecting a strategic shift towards higher profit margin channels. Net loss decreased by 41% to $1.7 million.
Key achievements include compliance with Nasdaq’s minimum bid price, a silver trophy for Best eCommerce Solution at the 2023 Asia eCommerce Awards, and a significant partnership with AIO Synergy. TGL also launched a Live Commerce Solution on Meta Platforms and expanded its gaming market presence with AI-enhanced mini-games.
The company remains optimistic about future growth and strategic initiatives aimed at capitalizing on the Southeast Asian market.
Treasure Global Inc (NASDAQ: TGL) has emerged as the exclusive partner for an AI Blockchain Wallet on Telegram, marking a significant development in the blockchain industry. By securing the first right of refusal, the company solidifies its competitive advantage and opens up avenues for revenue expansion. This strategic collaboration underscores Treasure Global’s commitment to spearheading innovation and embracing emerging technologies, positioning it for robust growth and revenue generation.
Treasure Global Inc (NASDAQ: TGL) has announced its 2024 Annual General Meeting of Shareholders to be held on June 11, 2024, conducted virtually. The board of directors supports the proposed resolutions and urges shareholders to vote in favor. Shareholders as of the Record Date on April 29, 2024, are entitled to participate by voting online, by phone, or through mailing a proxy card.
Treasure Global's subsidiary, ZCITY, secured a US$2 million marketing contract to promote Korean beauty products in Malaysia and Southeast Asia using its AI Marketing Engine. The contract signifies a significant milestone for Treasure Global as it expands its presence in the beauty industry, leveraging advanced artificial intelligence technology to drive sales growth. The Malaysian beauty market presents lucrative opportunities, with Korean beauty products gaining traction.
Treasure Global Inc (NASDAQ: TGL) will report its financial results for the third quarter of fiscal year 2024 on May 14, 2024. The conference call and webcast will feature remarks by CEO Sam Teo on May 15, 2024.
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