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17 May 2022

Readen Holding Corporation (OTC Pink: RHCO) Announces its Moving of Headquarters to Singapore

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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.