HONG KONG, March 14, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today
announced that its wholly-owned subsidiary, EC Assets Management
Limited ("EC Assets"), has entered into a Memorandum of
Understanding with Icon Properties, regarding a potential
acquisition of the Qliq Damansara Hotel, which is located in
Kuala Lumpur, Malaysia.
The Qliq Damansara Hotel is a hip, contemporary hotel situated
in the Golden Triangle of Petaling
Jaya, the heart of a bustling commercial area with some of
the trendiest lifestyle and shopping areas, arts and culture,
sports and business districts. The hotel comprises 219 guest rooms
in 24 levels. For more information visit
http://www.qliqhotels.com.
"The Qliq Damansara Hotel is an ideal candidate to convert into
a co-working and co-living community," said Parkson Yip, COO of SEII. "The plan is to
convert unutilized spaces into more efficiently-used co-working
spaces and some lower-cost co-living spaces. This can provide
greater flexibility to our business club members and
guests. Our concept of the co-working and co-living community
is to provide a 24/7 operating complex which provides a full suite
of services that fits the
global business environment that we live in today. With the help of
advanced technologies in communications and collaboration, more and
more people are working cross-regionally with peers who are
physically located in other time zones. A 24/7 co-working and
co-living community can provide individuals with the convenience of
fulfilling their living needs on-site, at any time, while focusing
on their work. Since they are working and living in the same
complex, they can go directly to their leisure activities after
work without the hassle of commuting. We will continue to seek
similar candidates for co-working and co-living complexes through
acquisitions or partnerships in
other locations."
There can be no assurances that the parties may enter into any
agreement to do a transaction, and even if an agreement is entered
into, there can be no assurances that such transaction will be
consummated.
About Sharing Economy International Inc.
Sharing Economy International Inc., through its affiliated
companies, designs, manufactures and distributes a line of
proprietary high and low temperature dyeing and finishing machinery
to the textile industry. The Company's latest business initiatives
are focused on targeting the technology and global sharing economy
markets, by developing online platforms and rental business
partnerships that will drive the global development of sharing
through economical rental business models. Moreover, the Company
will actively pursue blockchain technology in its existing and
to-be-acquired business, enabling the general public to realize the
beauty of resource sharing. For more information visit
www.seii.com
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they
may enter into. These forward looking statements are often
identified by the use of forward looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website, including factors
described in "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31,
2016 and in our Form 10-Q for the quarter ended September 30, 2017. All forward-looking
statements attributable to the Company or to persons acting on its
behalf are expressly qualified in their entirety by these factors
other than as required under the securities laws. The Company does
not assume a duty to update these forward-looking
statements.
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SOURCE Sharing Economy International, Inc.