◆NDMT Strategizes to Tap into Southeast Asia Market
Taipei City, Taiwan, June 6, 2016---- NowNews Digital Media Technology Co., Ltd. (“NDMT” or “the Company”) (OTCQB: NDMT), a media company that provides news and multimedia platform service, is pleased to announce that the Company has entered into a non-binding Letter of Intent with Lao Development Holding Limited (“Lao Development”) and Lao Construction Bank (“Lao Construction Bank”) in connection with the Company’s acquisition of 19% of the issued and outstanding equity interest of Lao Construction Bank from Lao Development for approximately 2 million share of common stock of the Company.
On June 1, 2016, the Company also entered into a non-binding Letter of Intent with Earl International Development Sdn.Bhd (“Earl”), the general contractor of “HOMES” project, a Malaysia government sponsored housing project. The Company will be engaged as the media outlet to facilitate the bidding process for Earl.
Aixinjueluo Yuhao, a director of the Company, is the majority shareholder of Lao Construction Bank and the chairman of board of Earl. The transactions contemplated in the two Letter of Intents have been approved by the board of directors of the Company.
“NDMT has always been committed to becoming the most influential media company in the global Chinese market”, says Shuo-Wei Shih, CEO of NDMT. “It is pleasing to see, by signing the two Letter of Intents with Earl International and Lao Development, we have taken a new step in entering the Malaysian and Laos markets.”
About Nownews Digital Media Technology Co., Ltd.
NowNews Digital Media Technology Co. Ltd. (OTCQB: NDMT) is a U.S.-listed holding company, through its subsidiaries, engaging in creating, collecting and distributing news and information through its website and applications on mobile phones or tablets. NowNews is also the largest online self-produced news content provider of Taiwan and the only Taiwanese online news website fully accessible in Mainland China. After launched Professional Category news brands, we launched Nownews Mobile Web and Apps. In July 2013, Nownews launched a new concept newspaper “NOWnews”, which is the first O2O case in Taiwan. Nownews owns a great amount of brands, such as the largest online self-produced news content provider「NOWnews」, the biggest Citizen Journalist platform「WEnews」, online video shopping website「NOWshopping」, etc. Its partners include CCTV, Yahoo, MSN, Hinet, Yam, Sina and other telecoms operators.
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