Benzinga | Dec 15, 2021 09:17AM EST

Greenpro Incubated Company Angkasa-X And PIKOM Launches SpaceTech Ecosystem For ASEAN Region

Greenpro Capital Corp. (NASDAQ:GRNQ) today announced its incubated company, Angkasa-X together with PIKOM has launched the SpaceTech Industrial Ecosystem for ASEAN region in Malaysia. According to the SpaceTech Industry September 2021 (Q3) Analytic Report, the global SpaceTech economy is constantly growing and valued at $4.7 trillion in 2021, and it will further grow to $10 trillion by 2030. The investment for SpaceTech economy in East Asia region has achieved $35 billion in 2021. This initiative is fully supported by the Government of Malaysia.

http://www.pikom.org.my/2021/PRESS_RELEASE/GREAT_POTENTIAL_IN_BUILDING_MALAYSIA%27S_SPACETECH_ECOSYSTEM.pdf

Angkasa-X has successfully admitted as an ITU-R member, is filing for application to launch its Low Earth Orbit (LEO) satellites. ITU is a specialised agency of the United Nations which manages space telecommunications.

Greenpro owns 28 million shares in Angkasa-X and is planning to list the company via an IPO on a U.S. exchange in the coming months.

Greenpro CEO, Dr. Lee said, "We are proud that Angkasa-X is set to become a SpaceTech Unicorn with its vision aligned with the United Nations SDGs, to provide satellite connectivity services to serve the 670 million Southeast Asia mass populations."