The New Hong Kong JV - AT Services

Overview

Pursuant to a Founders Agreement dated 1 November 2015 made between WIC WorldCom Finance Ltd. and Asia Telecom Ltd. (“Asia Telecom”), a Hong Kong licensed money operator was established on 24 July 2015 named AT Services, Hong Kong.  A Licence for Operating Money Service Number 15-10-01732 was issued by the Customs and Excise Department for operating money service.  The prime objective of AT Services will be to leverage the existing retail customer franchise of Asia

Products of AT Services

The product portfolio of AT Services will be to continuously expand to cater to a wider range of needs of migrant workers. The following products are already designed and have been test marketed through Asia Telecom in the last two years:

A.            Health Cards for Filipinos – Dental card, Emergency Card, HMO, Family Protect 365

B.            Health Card for Indonesians – Bundled product for family protection

C.            Health Cards for Nepalese – comprehensive health check up

D.            Remittances – Asia Telecom had  a remittance license in Hong Kong, which it has surrendered and ceased operations,  as now AT Services already owns the license

AT Services will also serve as a vehicle for growing remittances business. With access to the Asia Telecom large customer base of Filipinos and Indonesians, AT Services already has an initial captive customer base to build upon.

 Asia Telecom- WorldCom Finance’s Hong Kong partner 

Asia Telecom is a global telecommunications company based in Hong Kong with subsidiaries in Singapore, Taiwan, New Zealand, Philippines and Indonesia. Asia Telecom has been serving major corporates, consulates and an array of individual customers over the last 17 years. A large part of their retail clientele consists of Overseas Foreign Workers (OFW’s) from different counties such as Philippines, Indonesia and Nepal.

As a continuous endeavour to look at new product offerings, Asia Telecom has decided to partner with WorldCom Finance and together to obtain a remittance license in Hong Kong, in order to offer  a convenient remittance product to their existing customer base who use Asia Telecom as a long distance telecom services provider.

The service is a cross sell service to AsiaTel existing customers, and is  planned to be marketed out of their own network through distributors or retail outlets..