Readen Holding Corporation (OTC Pink: RHCO) is a listed venture capital corporation with a history of over 30 years. It has a long history of engaging in the retail trade and more recently its focus was on finding value in distressed assets. This has always been supported by its strong turnaround abilities and disposal of non-performing assets. RHCO has subsidiaries and liaison offices in Europe and Asia.
RHCO has made a strategic decision to pursue an investment strategy that takes an integrated asset approach with a focus on payment’s, ecommerce and their supporting Infrastructure technologies. We will be seeking a structured balance between short-term revenue and long-term outperformance multiples.
Latest News from RHCO
17 May 2022
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that the Company will move its corporate headquarters to Singapore. The relocation is a strategic move that represents the Company’s commitment to expanding its global footprint, further investing in the Asia markets, and enhancing its technology standards.
Singapore has emerged as the Next Silicon Valley in Asia. In 2022, it is ranked the top data center market in Asia Pacific, and ties with Silicon Valley for second place globally.* Singapore is widely recognized as a center of excellence in many I.T. sectors, which include cloud infrastructure, artificial intelligence, immersive media and augmented reality, blockchain architectures and cyber-security, etc. The Smart Nation initiative backed by the Government of Singapore sets the stage for digitization across policy processes and urban environments, and the nation is poised for further explosive growth as cloud adoption and digital requirements continue to increase. RHCO will tap into this dynamic environment as it continues to develop its Fintech, Online Payment and E-commerce businesses.
In 1997, RHCO established its head office in Hong Kong. The headquarters was relocated to Europe in 2004 and moved back to Hong Kong in 2020. Yet after the Pandemic broke out, the Chinese territory’s zero Covid strategy has set up strict international travel restrictions which made it difficult for the headquarters to operate. According to a draft report by the European Chamber of Commerce in Hong Kong, the zero-tolerance approach to Covid-19 could keep Hong Kong cut off from most of the world until 2024. This circumstance has forced RHCO to review its operations and weight in other options. However, RHCO’s Hong Kong office will remain in operation as it continues to be the basecamp of OkeApp, the Company’s discount referral app.
In an earlier announcement, RHCO also announced an expansion of opening another office location in the Netherlands. Currently, RHCO has several offices in Amsterdam (Netherlands), Auckland (New Zealand) and Hong Kong (China).
Richard Klitsie, CEO of RHCO stated, “As RHCO continues to expand, we eye Singapore as our new global headquarters to tap into the island-state's excellent infrastructure, support of digitally focused projects and critical agencies, along with its unrivaled global connectivity. Singapore's vibrant ecosystem, stability, and highly skilled tech talent pool align with our goals and values as we navigate our rapid growth trajectory across Asia and global markets."
* Cushman & Wakefield, 2022 Global Data Center Market Comparison.
27 Apr 2022
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that the Company has expanded by opening another office location in the Netherlands. The new office located at Olympia 2D, 1213 NT Hilversum, Netherlands signifies RHCO’s continued global growth and development.
The new office, which is a short drive from downtown Amsterdam, will add new jobs in the region and will enable the Company to better serve its European clients. It will be the office center of Okey Media B.V. and OK2 B.V., as well as Oke Retail B.V. which operates Neckermann Direct (neckermanndirect.eu) and Two Percent (twopercent.hk) online shops. All these entities are 100% owned by RHCO and are part of the Company’s Global Online Payment and E-commerce strategy.
Richard Klitsie, CEO of RHCO stated, “We have seen significant growth in the scale and operation of our business over the past year as we globally scale and expand into different verticals. It makes sense to increase our presence in Europe and will build upon our strategic plans for continued growth. This new office is our first step as we are also looking at possible expansion to other cities in Europe and Asia.”
21 Apr 2022
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that the Company has filed its financial statements for the quarter ending March 2022 with OTC Markets Disclosure & News Service. RHCO reported an increase in Revenue of 634.42% compared to the quarter ending December 2021, which is also a year-over-year increase of 161.39%. After two previous quarters of minor loss, the Company has recorded a minor profit and its Net Assets saw an increase of 1.99% compared to last financial year end.
The positive result was due to the ongoing development of OkeApp (www.okepartners.com), the Company’s discount referral app. The Company also see Revenue increased in Readies (www.readies.biz), its own developed e-voucher. The uptrend of OkeApp and Readies has started last quarter. Both businesses have been extending their success in Q1 2022 and continuous growth is expected in the coming quarters
In an earlier announcement, the Company disclosed that its Fintech Division, which includes OkePay, OkeApp and Readies, has recorded a 700% revenue gain in January 2022 comparing to December 2021. That one month’s revenue approximately equals to the total revenue of the Division in the last six months of 2021.
Richard Klitsie, CEO of RHCO stated, “RHCO has started the year of 2022 very well, and we are so thrilled to announce the completion of its quarterly filing. We are riding on the momentum of OkeApp and Readies, and both are performing well beyond our expectations. As anticipated, last quarter we saw a profit and we are expecting at least double digital revenue growth in quarters to come. The management is working hard every day to realize our exciting strategic business plan of action, as well as RHCO’s up listing plan. We are currently undergoing the process of auditing, with J&S Associate (AF002380) (Registered with US PCAOB and Malaysia MIA) (jns-associate.com) as the Auditor for the Company’s up listing initiative. We are positive that RHCO’s up listing to OTCQB can be finalized within this year. I strongly believe 2022 will be a cornerstone year for RHCO.”