TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : RELATED PARTY TRANSACTIONS SEDANIA INNOVATOR BERHAD ("SEDANIA" OR "THE COMPANY") - PROVISION OF FINANCIAL ASSISTANCE TO OFFSPRING INC SDN. BHD., A 51% OWNED SUBSIDIARY OF THE COMPANY
SEDANIA INNOVATOR BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
RELATED PARTY TRANSACTIONS
Description
SEDANIA INNOVATOR BERHAD ("SEDANIA" OR "THE COMPANY") - PROVISION OF FINANCIAL ASSISTANCE TO OFFSPRING INC SDN. BHD., A 51% OWNED SUBSIDIARY OF THE COMPANY
The Board of Directors (“Board”) of Sedania Innovator Berhad (“Sedania” or “the Company”) wishes to announce that the Board has approved the provision of financial assistance in the form of a one-off loan of up to RM1.35 million to Offspring Inc Sdn. Bhd. (“Offspring”), a 51% owned subsidiary of the Company, to finance the business operations and working capital requirements of Offspring (“Provision of Financial Assistance”), subject to the mutual agreement of the salient terms as stipulated in the loan agreement entered into between Sedania and Offspring (“Loan Agreement”).



Please refer to the attachment for further details.



This announcement is dated 2 August 2021.

Sedania’s ESPL secures trademark registration in EU countries
TheEdge Wed, Aug 04, 2021 02:55pm - 18 hours ago


KUALA LUMPUR (Aug 4): Sedania Innovator Bhd’s associate company Esports Pty Ltd (ESPL) has secured trademark registration in European Union (EU) countries.

In a statement today, Sedania, which is an innovative technology solutions group, said the exercise is crucial in protecting the registration of intellectual property in all EU nations.

“With the initiated exercise, ESPL is strengthening its position as a key player in the eSports ecosystem in the region.

“ESPL’s network has access to a global audience of over 91 million with strategic partners across 16 countries and serving five regions, including the Middle East and North Africa, Europe, South Asia, Latin America, and Southeast Asia,” it said.

Sedania's founder and managing director Datuk Azrin Mohd Noor said the ESPL trademark registration is part of its strategic move for market expansion.

“With this, ESPL is establishing its commercial presence in EU countries,” he said.

Industry experts have predicted that eSports is expected to continue growing rapidly over the next five years.

It is projected to reach US$1.6 billion in revenue by 2023, while a report from global provider of games and eSports analytics Newzoo stated that eSports audience will grow to over 645 million globally by 2023.

Azrin believes that the numbers will continue to proliferate and is confident that ESPL will continue to grow its brand presence in the right direction.

“Our effort in obtaining the trademark registration in all EU countries is one of the key strategic steps in protecting our global brand internationally.

“It is important for ESPL to uniquely distinguish ourselves and at the same time, safeguard the interest of our growing number of users,” he said.