SINGAPORE (Dec 19): Allied Technologies announced that it is investing a total of US$10 million ($12.5 million) into 8travelplay Intelligence & Technology (8TPS).

8travelplay is a Chinese incorporated company and is in the business of providing payment and technology solutions to the corporate travel market.

The two parties have entered into a binding memorandum of understanding (MOU), whereby Allied Technologies will subscribe for ordinary shares in 8TPS and non-redeemable convertible loan notes issued by 8TPS.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook