Treasure Global Inc. (NASDAQ: TGL) shares began Thursday slightly higher. The Southeast Asia–anchored technology company today announced the acquisition of Quarters Elite Advisory Sdn Bhd, a Malaysian financial advisory firm managing approximately $150 million U.S. in client assets through a nationwide network of more than 350 professional financial consultants serving nearly 3,000 clients.
The acquisition adds established revenue streams to Treasure Global and strengthens the Company’s OXI Wallet commercialization strategy by providing a cost-efficient channel for user acquisition and engagement across Southeast Asia.
Based on Quarters Elite’s existing portfolio size and historical performance, Treasure Global believes the acquisition represents a potential long-term revenue opportunity of up to approximately $150 million U.S. This opportunity is expected to be driven by leveraging Quarters Elite’s advisory expertise across individual, family, SME, and corporate segments, and by increasing adoption of digital financial solutions within the Company’s ecosystem.
“Through this acquisition,” read this morning’s news release, “Quarters Elite will serve as the marketing and distribution arm for OXI Wallet, providing Treasure Global with a low-cost, high-reach channel for user acquisition, onboarding, product education, and asset under management (AUM) growth. The nationwide advisor network is expected to significantly reduce customer acquisition costs compared to digital-only channels, while rapidly expanding Treasure Global’s presence across Malaysia and the broader Southeast Asia region.
TGL shares advanced $0.0019 to 69 cents.
