Transcription of Finance News Network Interview with Fatfish Internet Group Limited (ASX:FFG) CEO and Executive Director, Kin Wai LauClive Tompkins: Hello Clive Tompkins reporting for the Finance News Network. Joining me from internet venture accelerator Fatfish Internet Group
(ASX:FFG) is CEO and Executive Director, Kin Wai Lau. Kin Wai welcome back.
Kin Wai Lau: Thank you, it’s great to be back.
Clive Tompkins: Fatfish Internet Group is located in Singapore and listed on ASX. How has the Company progressed since its debut?
Kin Wai Lau: So we’ve been listed over six months now. Since then, we have made a few more investments into technology start-ups in Southeast Asia in general. But we have also made some very good progress; we have started a new partnership with the Malaysian Government. So this is a second partnership with a Southeast Asia government. We are definitely very active and very happy with the work we have done in the last six months.
Clive Tompkins: In terms of internet businesses, which specifically are you targeting and in which regions?
Kin Wai Lau: We see very strong growth and demand from consumers in sectors like e-commerce, mobile entertainment, cloud based software and financial technology sectors. So we would be looking at those sectors. In terms of region, we’ve been investing in Southeast Asia and Australia. So those are two regions that we would want to be very active in.
Clive Tompkins: Can you tell us about your strategic partnership with FinTech Asia Group Limited. What does that involve?
Kin Wai Lau: So FinTech Asia Group is a very well backed organisation that has a very wide reach in the Indonesia market. So our partnership with FinTech Asia Group will entail a strategic partnership to look at various opportunities in the financial technology sector in Indonesia. Whereby Fatfish Internet Group will bring its expertise in terms of technology knowhow and domain knowledge. Whereas the FinTech Asia Group will bring financial resources, to look at a co-investmentpartnershipfor the FinTech sector in Indonesia.
Clive Tompkins: Now to your Rights Issue, you recently raised $1.2 million. Where do you intend to use the money?
Kin Wai Lau: We plan to make use of capital as general working capital. In general we are looking at making more investments across Asia and Australia, in the sectors that we have identified. Mainly e-commerce, mobile financial technology, those sectors that we know we will be very active in.
Clive Tompkins: You recently released your quarterly financials. What’s the strategy for growing revenue?
Kin Wai Lau: So our strategy will be two pronged. Number one, we will focus on working our existing portfolio of companies, to help them to grow their business across the region that we are active in. Secondly, we are also looking at investing into more major companies that will be generating more revenue for the Group.
Clive Tompkins: Last question Kin Wai. What are the Company’s priorities in the near term?
Kin Wai Lau: Our priorities are basically to look at growth investment opportunities across Asia and Australia. We want to deploy our capital to the best that we can to tap into the growth. The fundamental of the internet businesses, it’s huge at the moment and is growing rapidly across all the markets that we are in. We believe this growth is sustainable and we want to be part of this growth.
Clive Tompkins: Kin Wai, thanks for the update from Fatfish Internet Group.
Kin Wai Lau: Thank you very much.
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