New York City, New York Jul 12, 2023 (Issuewire.com) - QMIS TBS Capital Group Corp (QMIS TBS) is a Delaware incorporation involved in the finance industry. QMIS TBS is in the progress of its listing exercise on Nasdaq. By a Form Super 8-K filed by QMIS TBS with SEC on February 13, 2023, QMIS TBS has detailed the full structure of the company (https://www.sec.gov/ix?doc=/Archives/edgar/data/0001796160/000109690623000347/qmis-20230213.htm). With a structure consisting of a complete financial eco-system utilising technology, QMIS TBS is confident that it is able to catch the current bull market in the Nasdaq.
The current bull market in the US Nasdaq stock market has been off to a strong start recently. Since the middle of June, the market has staged a remarkable comeback. The Nasdaq, known for its focus on technology and growth-oriented companies has climbed by more than 20% from its low, officially entering a bull market; the S&P 500, up by 17%, is verging on bull territory of its own (https://www.economist.com/leaders/2022/08/18/a-fresh-american-bull-market-is-under-way-can-it-last?). Several factors seems to have contributed to this bullish trend.
Firstly, the continued economic recovery from the challenges posed by the COVID-19 pandemic has boosted investor confidence. As vaccination rates increase and restrictions ease, businesses are reopening and economic activity is rebounding. This positive outlook has propelled the stock market forward, including the Nasdaq.
Additionally, the technology sector, which dominates the Nasdaq, has shown resilience and innovation. Tech companies have played a crucial role in supporting remote work, digital transformation, and e-commerce, all of which have thrived during the pandemic. The acceleration of technological advancements and the increasing reliance on technology in various sectors have fueled investor optimism, driving up stock prices.
Moreover, central bank policies, including accommodative monetary measures and low-interest rates, have created a favorable environment for investors seeking higher returns. With interest rates remaining relatively low, equities have become an attractive investment option for those looking for better yields. This increased demand has contributed to the upward trajectory of the Nasdaq.
Furthermore, the emergence of disruptive technologies and breakthrough innovations has captured investor attention. Sectors such as artificial intelligence, cloud computing, electric vehicles, and renewable energy have experienced significant growth and have become the focus of investor interest. Companies operating in these areas have witnessed substantial market capitalization gains, driving the overall market upwards.
It is important to note that while the bull market has been strong, investing in the stock market carries risks, and market conditions can change rapidly. Investors should exercise caution, conduct thorough research, and diversify their portfolios to mitigate potential risks. Monitoring market trends, staying informed about company fundamentals, and consulting with financial advisors can help navigate the dynamic nature of the stock market and make informed investment decisions.
In a significant development, a top official of Nasdaq recently met with the top management team of QMIS TBS, signaling a significant milestone in QMIS TBSs listing progress. The meeting focused on discussions surrounding QMIS TBS's potential listing on the Nasdaq stock exchange, a prestigious platform known for its technology-focused companies. The Nasdaq top official provided insights into the listing process, regulatory compliance, and the stringent requirements that QMIS TBS must meet to qualify for a listing. The top management team of QMIS TBS, comprising executives from various departments, presented the company's financials, growth prospects, and market positioning to demonstrate its eligibility for a public listing. This meeting reflects QMIS TBS's ambition to tap into the capital markets through a Nasdaq listing and showcases Nasdaq's role as a facilitator for companies seeking to access global investors and enhance their market visibility. The outcome of the meeting holds great significance for both parties as they work together towards potentially making QMIS TBS a part of the esteemed Nasdaq stock exchange.
QMIS TBS top management also took advantage of this time to meet with its IPO professional advisory team, including the lawyer, underwriters, and PCAOB Auditor. The meeting involved discussions on the company's financials, regulatory compliance, underwriting arrangements, marketing strategies, and other relevant aspects of the IPO or securities offering process. Adam Cavise, the Head of Capital Markets of Spartan Capital said that all parties will work together to meet the targeted listing in the third quarter.
Meanwhile, Mr Ong Kar Yee, the CFO of QMIS TBS said that one of their subsidiaries, QMIS Investment Bank is currently engaged in negotiations for a potential collaboration with renowned international financial institutions. This collaboration aims to explore exciting investment banking projects that hold significant potential for future revenue growth and value enhancement for QMIS TBS. Mr Ong also informed the IPO team that there has been an independent valuation of the Company by external independent Malaysian auditors valuing the shares of the Company at USD9.39 per share. This is a positive outlook on the progress of the Company and the whole team is confident that QMIS TBS will do well in the upcoming IPO.
Mr. Park Lloyd said that it's crucial that the team review all aspects to ensure a smooth process. For this Adam advises a weekly update meeting to ensure that all progress moves smoothly and the whole team is up to date on the progress. Dato Sri Ting Teck Sheng, the COO of QMIS TBS Capital Group Corp also emphasized the importance of operational readiness to ensure that all systems, processes, and controls are in place to support the listing and subsequent operations as a publicly traded company. The whole team will collaborate and work closely to ensure a successful and compliant transaction, leveraging their respective expertise and experience in the field of securities offerings.
The team also met with their tax agent, Phil Kempisty, who has addressed all issues from a tax perspective and is working closely with the team to ensure that all tax obligations are fulfilled and addressed before the listing. The PCAOB auditor has also conducted a thorough review of the financial statements and internal controls to ensure compliance with accounting standards. The final audit report is ready, highlighting the company's financial health and transparency.
Besides making all the significant decisions on the potential listing of QMIS TBS on the Nasdaq, QMIS TBSs top management also approved the S-1 post effectiveness which is being submitted by the lawyer. The purpose of submitting an S1 refers to the evaluation and assessment of the effectiveness of the S1 registration statement. Once the SEC reviews the S1 filing and deems it to be in compliance with regulatory requirements, it becomes effective, allowing the company to proceed with its offering of securities to the designated investors. The purpose of submitting the S1-post effectiveness is to provide transparency and accountability to the SEC and potential investors. It allows companies to evaluate the success of their offering and make any necessary adjustments or disclosures to address concerns or optimize future offerings.
QMIS TBS being a finance technology company with most of its business in Asia, has seen significant growth in its business these few years. This is due to the Asia market which has witnessed remarkable growth in the digital financial eosystem in recent years. With a rapidly expanding population and increasing smartphone penetration, the region has become a hotbed for technological advancements and innovation in the financial sector. Countries like China, India, and Southeast Asian nations have been at the forefront of this digital revolution.
One key driver of the digital financial ecosystem in Asia is the rise of mobile payment platforms. Companies such as Alipay and WeChat Pay in China, Paytm in India, and GrabPay in Southeast Asia have gained immense popularity and transformed the way people make payments. These platforms offer convenient and secure payment solutions, allowing users to make transactions using their smartphones for a wide range of services, from online shopping to peer-to-peer transfers.
Moreover, Asia has also seen significant growth in the adoption of digital banking services. Traditional banks and fintech startups are offering digital banking platforms that provide customers with easy access to banking services through mobile apps. These platforms enable users to open accounts, transfer funds, pay bills, and access a range of financial products and services, all from the convenience of their smartphones.
Another notable aspect of the digital financial ecosystem in Asia is the emergence of online lending and crowdfunding platforms. These platforms provide alternative sources of financing for individuals and businesses, bypassing traditional lending institutions. Companies like Ant Group in China and Funding Societies in Southeast Asia have created innovative peer-to-peer lending platforms, connecting borrowers with potential lenders and facilitating faster and more efficient loan processes.
Furthermore, the region has witnessed a surge in the adoption of cryptocurrencies and blockchain technology. Asian countries, particularly Japan and South Korea, have embraced cryptocurrencies as a legitimate form of digital asset and have established regulations to govern their usage. Additionally, blockchain technology is being explored in various sectors, including supply chain management, cross-border remittances, and identity verification, to enhance efficiency, transparency, and security.
The Asia market has experienced a dynamic evolution in its digital financial ecosystem. Mobile payment platforms, digital banking services, online lending, crowdfunding, and the adoption of cryptocurrencies and blockchain technology have transformed the way financial transactions are conducted in the region. As technology continues to advance and consumer preferences evolve, the digital financial landscape in Asia is expected to further expand and innovate, offering new opportunities and challenges for businesses and consumers alike.
With all these exciting developments, QMIS TBS is not sitting on its laurels but underwent an impressive turnaround, shifting from a $1.5 million loss to a profit exceeding $234 thousand during the first quarter ending March 31, 2023. This demonstrates the effectiveness of its revenue growth initiatives and cost management strategies. Key factors driving this transformation include a 12% revenue growth, particularly in the consultant services segment. Effective cost management strategies led to an 87% decrease in the total cost of sales, significantly improving the gross profit margin from -54% to 83%. General administrative expenses were reduced by 60%, mainly due to lower management fees paid to related parties. Despite a 72% decrease in other income, the company offset it through strong revenue growth and cost management. These positive financial results showcase the potential of QMIS TBS to capitalize on market opportunities and establish itself as a financially resilient and successful entity in the industry (https://www.sec.gov/ix?doc=/Archives/edgar/data/0001796160/000109690623001167/qmis-20230331.htm). QMIS TBS also foresees better profit in the second quarter.
In conclusion, given the recent positive developments surrounding QMIS TBS and the favorable market sentiment, the top management and IPO Advisory team are confident that QMIS TBS is well positioned to leverage the current bull run in Nasdaq and achieve a successful listing targeted in the third quarter. Tan Sri Dr Chin Yung Kong, the CEO of QMIS TBS, thank everyone for their hard work and dedication. He is confident that if the whole team stays focused, their collective efforts will pave the way for the company's future growth and make the listing on NASDAQ a resounding success.
Source :QMIS TBS Capital Group Corp
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