Vent Lim's comment on YONGTAI. All Comments
Vent Lim
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Surprised with the announcement yesterday. Checked with someone familiar with the YTB. And below is the answers related to today’s announcement.

YTB’s venture is setting the path for the company to monetise its assets, which includes the Encore Melaka theatre and other assets such as Marriott Hotel in Melaka. Asset-backed coin diffes from utility coin.
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Vent Lim
It is a new form of fund raising/value unlocking for assets. Active in Singapore but still new in Malaysia. https://investableuniverse.com/2021/05/19/ctx-nasdaq-to-launch-digital-asset-backed-token-exchange/

Today’s acquisition is to for the acquisition of Huobi Labuan Ltd, the broker of Huobi Global https://www.huobi.com/, a top 10 cryo trading platform globally. Huobi Labuan is governed by Labuan Financial Services Authority. The monetisation of assets (theatre and marriott hotel by YTB) will
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Vent Lim
happen before end of the year. Buyers have been identified to purchase YTB’s assets. Today’s development for that to happen.
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