Shares of SEATech Ventures Corp (OTCMKTS:SEAV) have been trading within a narrow range after the recent fall.
Market Action
On Thursday, SEAV stock moved up 1% at $1.40 with 292 shares, compared to its average volume of 5k shares. The stock has moved within a range of $1.4000 – 1.4000 after opening the trade at $1.40.
SEATech Ventures Corp Announces International Telecommunications Union (ITU-R) Membership Approval Of Incubatee Angkasa-X
SEATech Ventures Corp (OTCMKTS:SEAV) has made an announcement on November 11, 2021 that Angkasa-X, their incubatee, has become a member of the prestigious International Telecommunications Union (ITU) under the radio communication (R) sector. SEATech Ventures Corp is a founding equity shareholder and presently has 13 million shares in Angkasa-X. ITU is a specialized wing of the United Nations responsible for governing and authorizing global telecommunications and space matters.
Angkasa-X’s has been diligently working towards providing internet connectivity to the underserved population in the South East Asia region. That goal is now a step closer to being fulfilled with the said membership. It is all the more a surety with the official appointment of BOA Investment Services Limited of Bank of Asia as the financial partner who has agreed to provide financial facilities to Angkasa-X in the development of Low Earth Orbit (LEO) satellite constellations.
CEO of SEATech Ventures Mr. Chin, states that the approval of the ITU-R membership is a landmark moment and crucial step along Angkasa-X’s journey to emerge as a SpaceTech Unicorn from the South East Asia region. It is also important for their process of public listing on the U.S. stock exchange capital markets through an Initial Public Offering (IPO).
Key Quote
CEO of SEATech Ventures Mr Chin said, “The ITU-R membership approval is a crucial and momentous landmark along Angkasa-X’s journey to become a SpaceTech Unicorn from the South East Asia region, and their process of public listing on the U.S. stock exchange capital markets through an Initial Public Offering (IPO). Not only is this an immense achievement for both Angkasa-X and SEATech Ventures, we also feel a great sense of pride knowing that Angkasa-X’s vision aligns perfectly with the United Nations Social Development Goal (SDG) of providing satellite connectivity to the 670 million strong South East Asian population to improve standards of living.”
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