SYDNEY
and KUALA LUMPUR, Malaysia,
Jan. 20, 2022 /PRNewswire/ --
Integrated Media Technology Limited (NASDAQ: IMTE) ("IMTE" or the
"Company"), announces today the signing of a subscription agreement
for 60% equity interests in World Integrated Supply Ecosystem Sdn
Bhd. ("WISE"), a Malaysia company
engaged in the business of the provision of halal certification to
qualified businesses/operations, the establishment halal products
supply chain, and sale of halal products.
WISE's business involves bringing Halal certification to the
forefront of food safety for the food industry. Halal is a process
adhering to cleanness in the growing, preparation and delivery of
food products. WISE will provide certification working with the
JAKIM, a department of the Malaysia government mandated to conduct and
manage the Halal certification process. WISE is working
towards being appointed by JAKIM Malaysia as an accredited
Certification Body to conduct the auditing process and certify the
product application. WISE will also work with other
Certification Bodies worldwide that have been accredited by JAKIM,
thereby extending our reach to the global markets.
WISE's other ambition is to promote the global supply chain of
Halal products through cooperation and collaboration with
international Halal organizations, consumer community and
manufacturing bodies to strengthen the Halal ecosystem. By
working with the Halal product manufacturers, WISE will be able to
market their products via a supply chain network and trading
platform, both offline and online, for raw materials to finished
products.
We intend to use the latest technology to provide traceability
to products to track their movements from farm to table. Dato'
Megat Radzman, CEO of WISE, stated "Today we are concerned with
food safety from around the world. The environment around us is
changing rapidly and it is a challenge for consumers to determine
what food and from where are safe. With this in mind, we aim
to bring the Halal process to growers, food processors and
distributors to build a creditable halal ecosystem." Dato' Radzman
further added, "WISE will provide online courses on Halal practice
and food handling to educate and train Halal food players to
maintain the quality and compliance of their Halal products."
WISE is entering a specialized food (Halal) market estimated to
have a value of about US$1.9 trillion
in 2020 and is expected to continue to increase in the coming
years. WISE aims to be a key player in building the ecosystem
and a trading platform for growers/producers to sell their products
direct to consumers and wholesalers/distributors. Dato'
Radzman concluded, "There is a tremendous opportunity to provide
Halal products to the world. The pandemic has highlighted the need
to maintain food safety throughout the supply chain, and a delivery
system that people can rely on."
Mr. Xiaodong Zhang, IMTE CEO,
stated "We are very excited to work with WISE and its management
team to build a Halal ecosystem. Although this is not IMTE's
traditional technology investment, we see many applications in
bringing this ecosystem to the new digital economy from
traceability, anti-counterfeiting technology, application of
Blockchain and automation. "
About Integrated Media Technology Limited ("IMTE")
IMTE is an Australian company engaged in the business of
manufacture and sale of nano coated plates for filters, the
manufacture and sale of electronic glass, the operating of an
online exchange platform for trading in digital assets and the
provision of financial research. For more information, please visit
www.imtechltd.com.
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"forward-looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks, and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
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SOURCE Integrated Media Technology Limited