DFNN Inc., a listed information technology company, said it will declare as property dividend some 40,000 shares in unit iWave Inc. DFNN said in a disclosure to the stock exchange shareholders as of record date Dec. 18, 2018 would receive one iWave common shares for every 8,155.5 DFNN shares owned. iWave is a leading company in the Philippines that specializes in designing and developing turnkey solutions for the information system requirements of retail financial institutions with high volume transactions.
THE Cagayan Economic Zone Authority (CEZA) signed a memorandum of understanding with technology solutions firm Iwave, Inc. and Japan’s Traders Holdings Co., Ltd. for the further development of a financial technology hub in the zone. In a statement released on Wednesday, CEZA administrator Raul L. Lambino said that the MoU will help the economic zone develop its fintech center. CEZA hopes to tap high-speed Internet from the Luzon Bypass Infrastructure to attract a cluster of fintech firms. “This is a planned, calibrated development, which would be in stark contrast to the large unmitigated growth of Asian cities with their huge traffic and unproductive environments,” Mr. Lambino said.
iWave, a DFNN unit, is set for a backdoor listing on the Singapore Exchange (SGX) through China Sky Chemical Fiber, expanding its international footprint. The move, alongside the appointment of finance expert Robert Isaacson to its board, positions iWave as one of three Filipino companies on SGX. Meanwhile, DFNN’s Hatch Asia received approval to list its Australian subsidiary on the Australian Stock Exchange (ASX) via a takeover of Silver Heritage Group. These developments aim to unlock new business streams and showcase Filipino firms in the global market.
The frenetic pace and energy of Austin is calling out to other Filipino businessmen and entrepreneurs. Austin is much more than the capital city of the U.S. state of Texas. The city is perhaps best known for its slogan as the “live music capital of the world,” and, of course, for the annual South x Southwest Festival. But if you’re someone who’s keeping an eye out for emerging cities with a strong tech ecosystem, it’s difficult to ignore Austin. Over the last few years, the city has developed a reputation for nurturing businesses and tech startups. In fact, the American Computing Technology Industry Association (CompTIA), put the city on top of its Tech Town USA index, pronouncing it as the best tech city in America for the last three years, from 2020 to 2022.
TOKYO”•The Cagayan Economic Zone Authority Iwave Inc., an investee of an experienced Philippine-listed technology company, and publicly listed Traders Holdings in Japan recently signed a milestone Memorandum Of Understanding.
The Cagayan Economic Zone Authority (Ceza) has entered into an agreement with a Japanese company and a Philippine firm for the crafting and development of the first special economic zone in Asia that will regulate, license and propagate international financial technology (fintech) companies.
First, it pioneered the establishment of the offshore (online) gaming jurisdiction in Asia. Now, the Cagayan Economic Zone Authority (Ceza) aims to become the first financial-technology (fintech) hub to soon rise in Santa Ana, Cagayan. In a news statement issued on Wednesday, Ceza CEO and Administrator Secretary Raul L. Lambino said several offshore firms have already committed to locate at Ceza free port to do business in the planned offshore fintech post.
Back home, today is the last operating day of the Philippine Stock Exchange (PSE) trading floor – signaling a new era of floorless trading for the local equities market. The PSE’s sentimental announcement also heralded the end of traditional trading in Southeast Asia’s oldest stock market It may be recalled that the Philippines’ first automated trading platform was built by Filipino-Japanese venture iWave, Inc. in 1993 at the PSE’s Tektite floor. Since then, iWave has become a financial industry leader in the development and management of proprietary technology products for banks and other financial institutions that process high-volume secure transactions. It is both a subsidiary and technology arm of PSE-listed DFNN, Inc.
