Core Viewpoint - OSL Group is acquiring 90% of Evergreen Crest Holdings Ltd for $15 million, aiming to enter the Indonesian digital asset market, which is considered one of the most promising cryptocurrency markets in Asia [1][2] Group 1: Acquisition Details - The acquisition involves OSL Midaspay Limited, a wholly-owned subsidiary of OSL Group, purchasing shares from Lau Shu Ming for a total consideration of $15 million, equivalent to approximately HKD 117 million [1] - The shares issued as part of the payment will represent about 1.48% of the company's total issued shares as of the announcement date [1] - Upon completion, Evergreen Crest Holdings Ltd will become an indirect subsidiary of OSL Group, and its financial performance will be consolidated into the company's financial statements [1] Group 2: Market Potential - The acquisition is expected to provide immediate and strategic access to the Indonesian digital asset market, which has key growth drivers such as a large young population, robust economic growth, and rapidly increasing cryptocurrency adoption [2] - According to industry reports, the number of cryptocurrency users in Indonesia is projected to reach approximately 22.1 million by November 2024, with total trading volume expected to reach $34.25 billion, reflecting a year-on-year growth of about 356.16% [2] - The number of registered cryptocurrency companies in Indonesia is anticipated to increase to 2,251 by June 2024, representing a year-on-year growth of approximately 72% [2] Group 3: Strategic Benefits - The acquisition will allow OSL Group to quickly obtain valuable regulatory licenses for cryptocurrency spot and derivative trading in Indonesia, avoiding lengthy and uncertain new license application processes [2] - The regulatory licenses held by the target company's subsidiaries will provide a compliance platform for expanding services in Indonesia, particularly in emerging business lines such as Real World Assets (RWA) and payment finance (PayFi) [3] - Indonesia ranks third globally in RWA attention, accounting for about 10.1% of the global total, indicating significant activity in this area [3] Group 4: Brand and Operational Synergies - The acquisition is expected to enhance OSL Group's brand recognition, market penetration, and reputation in the Southeast Asian digital asset sector [3] - The target group's brand "Koin Sayang" resonates locally, and OSL Group plans to implement unified marketing and public relations activities to expand its brand influence in Indonesia [3] - The acquisition is anticipated to create synergies and operational efficiencies by combining OSL Group's technological capabilities and extensive product offerings with the local licenses and strategic contributions of the target group [3] Group 5: Financial Considerations - The acquisition consideration will be settled through the issuance of shares rather than cash, allowing OSL Group to retain its existing cash reserves for future operations, business development, and potential investment opportunities [4]