SINGAPORE, June 25, 2015 /PRNewswire/ -- New Asia Holdings Inc (OTCQB: NAHD), formerly DM Products Inc (DMPD) today confirmed that it has signed a Memorandum of Understanding to acquire a 100% controlling stake in Magdallen Quant Pte. Ltd., a Singapore-based Company (the "Company") that is focused on the Research, Development and Deployment of Advanced, Proprietary, state-of-the-art, trainable trading algorithms. NAHD confirmed that it has, over the last several months, been undertaking a thorough evaluation of the proprietary trading algorithms owned and developed by the Company. Subject to completion of the final Due Diligence, the Purchase Price of this acquisition will be set forth in a formal Share Sale & Purchase Agreement that is expected to be executed within the next 60 days.
NAHD CEO, Dr Lin Kok Peng stated, "through this proposed acquisition, NAHD will provide the financial community with highly advanced, proprietary, neural trading models. Over the last several months I have personally been working with the personnel that currently forms the Company's core team and based on a detailed evaluation and having tested the performance of these proprietary algorithms, I am proud to report that the proprietary, trainable, algorithms owned by the Company have demonstrated a back-test track record of achieving meaningfully better than average month-on-month returns. The next few months will be very exciting!"
NAHD will offer these proprietary algorithm trading software solutions to Broker-Dealers, Banks, Funds and other clients on the basis of a "Software as a Service (SaaS)" licensing and delivery models with licensed users availing themselves of a service-based contractual arrangements. NAHD's revenue model will be based on receiving a percentage of trading profits achieved by our clients that will utilize our trading algorithm. In addition, NAHD will utilize its in-house proprietary neural trading models to trade its own funds, thus providing added value to our shareholders.
The proprietary algorithms that we are proposing to acquire emulate aspects of the human brain, integrating a self-training ability to formalize unclassified information and thus develop an enhanced ability to make forecasts based on the historical information and other data available at their disposal. Our Neural networks do not make forecasts, instead, they analyze price data and uncover opportunities. Using our proprietary neural network, trade decisions are made based on thoroughly analyzed data (which is not generally possible when using traditional technical analysis methods). NAHD will thus be able to offer our clients and shareholders a series of "Next-Generation" tools that can detect subtle non-linear interdependencies and patterns that other methods of technical analysis are unable to uncover.
For more information, please contact:
Jose Capote
New Asia Holdings Inc
33 Ubi Ave 3
07-58 Vertex Tower A
Singapore 408868
Tel: +65-6702 3808
Enquiry@newasiainc.com
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-asia-holdings-inc-nahd-announces-mou-for-the-acquisition-of-company-involved-in-proprietary-trading-algorithms-300104742.html
SOURCE New Asia Holdings Inc