Kuala Lumpur, Malaysia, March 07, 2023 (GLOBE NEWSWIRE) -- Starbox Group Holdings Ltd. (Nasdaq: STBX) (the “Company” or “Starbox Group”), a service provider of cash rebates, digital advertising, and payment solutions, today announced its Malaysian subsidiary, Starbox Rebates Sdn. Bhd., has entered into a Private Label Cash Rebates System Supply Agreement with MY Rebates PH Solutions Corporation (“MYRPHSC”), an entity incorporated in the Philippines. The Company believes that MYRPHSC possesses the necessary resources and capabilities to sustain the development and growth of the Company’s cash rebate system in the Philippines.
The Private Label Cash Rebates System Supply Agreement stipulates that MYRPHSC, as the Company’s exclusive partner in the Philippines, shall utilize the cash rebate system, digital advertising and related attributes of Starbox Group therein to promote and develop the Company’s services in the Philippines.
Mr. Lee Choon Wooi, Chief Executive Officer and Chairman of the Board of Directors of Starbox Group, commented, “The Philippines is the first overseas market for our cash rebate system, and our technical team will provide the system with vigorous assistance. We are confident that the Philippines will be a stimulating prospect for the expansion of Starbox Group and we aspire to expand our reach to more South East Asian countries in the future.”
About Starbox Group Holdings Ltd.
Headquartered in Malaysia, Starbox Group Holdings Ltd. is building a cash rebate, digital advertising, and payment solution business ecosystem targeting micro, small, and medium enterprises that lack the bandwidth to develop an in-house data management system for effective marketing. The Company connects retail merchants with retail shoppers to facilitate transactions through cash rebates offered by retail merchants on its GETBATS website and mobile app. The Company provides digital advertising services to advertisers through its SEEBATS website and mobile app, GETBATS website and mobile app and social media. The Company also provides payment solution services to merchants. For more information, please visit the Company’s website: https://ir.starboxholdings.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
Starbox Group Holdings Ltd.
Investor Relations Department
Email: ir@starboxholdings.com
Ascent Investors Relations LLC
Tina Xiao
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com
Source: Starbox Group Holdings Ltd.