Sino Payments Merged Group Announces Forecast Financial Results
23 Octubre 2013 - 8:15AM
Marketwired
Sino Payments Merged Group Announces Forecast Financial Results
The Merged SNPY Group Is Expecting Positive Financial Results in
Their Latest Forecast for 2013
HONG KONG, CHINA--(Marketwired - Oct 23, 2013) - Sino Payments,
Inc. (OTC Pink: SNPY) (http://www.sinopayments.com/) a technology
company providing proprietary IP transactions processing services
to the retail industry, is pleased to announce its first quarter
financial forecast following the merger with TAP Investments Group
in April this year. Following the completion of the merger,
TAP Group's financial results were consolidated into the merged
company from April 2013.
Financial Forecast Highlights, 2013
- Revenues of unaudited post-merger group is expected to reach
USD2.18 million for the period of April to December 2013; a 15%
increase over the same period in 2012 (USD1.89 Million).
- Net profit margin of post-merger group will be at 11% -- a
substantial increase over that of 2012 at 0.1%.
- These improved results are mainly due to a stable increase in
revenue arising from maintenance services and IT solution projects
completed this year.
The combined group will operate a broad and highly diversified
portfolio of successful businesses and brands across multiple
geographies with a strong focus on the Greater China and
Asia-Pacific region, offering POS Maintenance and System upgrading
services and value-added tools to enhance the functionality of the
conventional POS system for their customers.
Matthew Mecke, CEO of Sino Payments, Inc. proclaimed, "The
merger enhances both companies' abilities to ensure strong
shareholder value, provide exceptional customer service and deliver
affordable and reliable technology services in the face of current
high levels of economic, regulatory, and industry change. With our
combined size, shared cultures and financial strength, our combined
organization will be uniquely positioned to deliver value for our
associates, customers, communities and shareholders. I believe that
the overall future looks very bright."
Kenneth Tan, CEO of TAP Group continued, "Two highly successful
and profitable institutions are joining forces to create a more
diversified and international company. We are pleased to have
reached this agreement with SNPY, a company that shares TAP's
vision for innovation on behalf of retailers. This transaction
is an important affirmation of the meaningful value our employees
have created, and we look forward to rewarding our stockholders
with an immediate and attractive premium. I look forward to
bringing the talented people of SNPY and TAP together as we
continue to fulfill our commitment to unlocking the potential of
robust technology services for retailers who wish to stay ahead of
the game."
TAP Group's impressive client list includes some of the largest
and most well-known Asian retail merchants.
Milestones include:
- The Government of the Hong Kong Special Administrative Region
(HKSAR) - TAP appointed vendor and service provider for the upgrade
of the Cash Receipting System for a government body.
- A.S. Watson Group (HKSAR) - Serviced the world's largest health
and beauty group operating in over 10,000 stores in more than 37
countries; serving over 26 million customers per week.
- SOGO Department Stores (HKSAR) - Provided services to one of
Hong Kong's largest and most prestigious department stores
- PCCW (HKSAR) - Served the largest telecom service provider and
electronic retail chains in HKSAR
- CTM (MSAR) - Worked closely with the largest and only full
telecom service provider in Macau
- Robinsons Retail Group (Philippines) - Provided services to
Philippine retail conglomerate with over 600 multi-format retail
outlets across the country
About TAP
(www.tap-group.com.cn) TAP is a leading provider of
customer-centric solutions for the retail industry. By integrating
market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and
retail CRM solutions, TAP provides retailers with the capability to
offer a consistent shopping experience across all channels, all the
time, enabling them to easily and effectively manage the customer
lifecycle on a one-to-one basis. TAP is headquartered in Hong Kong
with offices in Macau, Shenzhen, Guangzhou, Shanghai, Beijing, and
Manila with over 200 staff.
About Sino Payments,
Inc. (www.sinopayments.com) Sino Payments is a US public
company with registered office in Hong Kong. Sino Payments
focuses on providing IP credit and debit card processing services
to large retail chains, including supermarket chains and large
regional multinational retailers, in China and throughout
Asia. Sino Payments has completed the merger with TAP in April
2013. Hence, TAP operations and financials will fold into Sino
Payments with the post-merger results from the date of merger in
effect.
RELATED LINKS http://www.sinopayments.com/
FORWARD-LOOKING
STATEMENTS Except for factual statements made herein, the
information contained in this press release consists of
forward-looking statements that involve risks and uncertainties,
including the effect of changing economic conditions, competition
within the credit and security industry, customer acceptance of
products and other risks and uncertainties. Such forward-looking
statements are not guarantees of performance, and Sino Payments,
Inc. results could differ materially from those contained in such
statements. These forward-looking statements speak only as of the
date of this release, and Sino Payments, Inc. undertakes no
obligation to publicly update any forward-looking statements to
reflect new information, events or circumstances after the date of
this release.
STATEMENT REGARDING
UNAUDITED FINANCIAL INFORMATION The financial information
set forth above is unaudited and subject to adjustments.
Adjustments to the financial statements may be identified when the
annual financial statements are prepared and audit work is
performed for the year-end audit, which could result in significant
differences from this unaudited financial information.
Contacts: Sino Payments, Inc. Matthew Mecke Chairman & CEO T
1.877.205.6270
x801
ir@sinopayments.com
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