General Announcement::ADDVALUE IFLEETONE-VMS MAKES MAIDEN FORAY INTO CONTROLLED REGULATORY FISHERIES SUSTAINABILITY MARKET

Issuer & Securities

Issuer/ Manager
ADDVALUE TECHNOLOGIES LTD
Securities
ADDVALUE TECHNOLOGIES LTD - SG1I67883666 - A31
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
10-Aug-2020 14:14:05
Status
New
Announcement Sub Title
ADDVALUE IFLEETONE-VMS MAKES MAIDEN FORAY INTO CONTROLLED REGULATORY FISHERIES SUSTAINABILITY MARKET
Announcement Reference
SG200810OTHRTGDS
Submitted By (Co./ Ind. Name)
DR COLIN CHAN KUM LOK
Designation
CHAIRMAN AND CEO
Description (Please provide a detailed description of the event in the box below)
PRESS RELEASE:

ADDVALUE TYPE-APPROVED ALL-IN-ONE IP-BASED SATELLITE BROADBAND TERMINAL, EMBEDDED WITH ITS PROPRIETARY VESSEL MONITORING SYSTEM SOLUTIONS, MAKES A MAIDEN FORAY INTO THE CONTROLLED REGULATORY FISHERIES SUSTAINABILITY MARKET OF THE PACIFIC OCEAN, THROUGH A NEWLY FORGED CO-OPERATION WITH CTTIC SHANGHAI, A UNIT UNDER THE CHINA MINISTRY OF TRANSPORT, TO CAPTURE A SIZABLE SHARE OF THE ADDRESSABLE MARKET COMPRISING MORE THAN 4,000 VESSELS, WITH:

- AT LEAST US$2 MILLION IN TERMINAL SALES EXPECTED TO BE GENERATED WITHIN THE NEXT 24 MONTHS; AND
- AT LEAST US$1 MILLION IN RECURRING SOLUTION/AIRTIME SUBSCRIPTION REVENUE EXPECTED TO BE GENERATED ANNUALLY UPON THE GARNERING OF A MARKET SHARE OF 30%


Attachments

AVT-PR_on_iFleetONE-VMS_10Aug20.pdf
Total size =654K