Benzinga | Nov 19, 2021 07:07AM EST

Guardforce AI Reports Established Its Presence In 2 NEw Markets: Macau, Malaysia

Guardforce AI Co., Limited ("Guardforce AI" or the "Company") (NASDAQ:GFAI)(NASDAQ:GFAIW), an integrated security solutions provider in Asia, has announced today the establishment of its presence in two new markets within the Asia Pacific region via the merger of Macau GF Robotics Limited ("Macau GF") and GF Robotics Malaysia Sdn. Bhd. ("Malaysia GF").

The merger will provide entry into the Macau and Malaysia markets focusing on education, hospitality, retail and corporate sectors, offering immediate growth opportunities. The merger has been approved by the Board of Directors and is expected to be closed by the end of January 2022.

"The Asia Pacific remains an important growth region for Guardforce AI, and fresh on the heels of our recent Singapore headquarters move announcement, we are pleased to announce the expansion into the Macau and Malaysia markets," commented Terence Yap, Chairman of Guardforce AI. "It's important to note that Macau is part of the Greater Bay Area, acting as a natural access point to this fast growing region, and Malaysia is the fourth largest economy in Southeast Asia. This strategic move for the Company is important as the region begins its recovery phase. Both locations provide great opportunities for robotics solutions, especially in the education, hospitality, retail, and corporate sectors. "