Through this partnership, TGL will further monetize its user base and expects a projected 100% monthly gross profit increase from this partnership

NEW YORK and KUALA LUMPUR, Malaysia, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“TGL,” “Treasure Global” or the “Company”), an innovative technology solutions provider, today announced it has signed a Memorandum of Understanding with UCSI Hospital to formalize a partnership in promoting the Malaysia Healthcare Tourism program.

ZCITY’s enogy, a provider of health and wellness products available in the ZCITY app, will play a significant role in the spearheading of health tourism and stem cell therapies in the Indonesia, Hong Kong and China markets. This will be executed in partnership with UCSI Hospital.

TGL anticipates a substantial new revenue stream from Healthcare Tourism packages and commission earned on health screenings, exclusive sales, and the upselling of enogy healthcare products and added stem cell therapies offering that TGL will earn a commission on. TGL expects a projected 100% overall gross profit growth every month from this partnership.

Management believes that this partnership will support additional revenue growth from new marketing and strategic alliances within the wellness tourism industry.

“This collaboration signifies a pivotal juncture in our mission to redefine wellness experiences through innovative offerings. Integrated into Treasure Global’s Wellness Tourism program, stem cell therapies will elevate the well-being of our ZCITY Members,” said Sam Teo, Chief Executive Officer of Treasure Global.

“Our partnership with enogy marks a significant milestone in our commitment to delivering cutting-edge healthcare solutions globally. Through the fusion of stem cell therapies and Wellness Tourism, we are set to embark on a transformative well-being journey," said Andreson J. Yu, Group Chief Commercial Officer of UCSI Healthcare Group.

About Treasure Global Inc

Treasure Global is a Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers while simultaneously allowing them to earn rewards, and TAZTE, a digital F&B management system providing merchants with a one-stop management and automated solution to digitize their businesses. Treasure Global also acts as a master franchiser in South-East Asia for popular restaurant chains while providing them with the TAZTE solution. As of September 30, 2023, ZCITY had over 2,600,000 registered users.

For more information, please visit https://treasureglobal.co/

About UCSI Hospital, Bandar Springhill

UCSI Hospital, Bandar Springhill, is equipped with state-of-the-art medical technology and staffed by experienced specialists, offering world-class healthcare across a wide array of medical specialties. The hospital's Health Screening Centre provides comprehensive preventive health evaluations using a full spectrum of screening tests.

For more information, please visit https://www.ucsigroup.com.my/our-businesses/healthcare and https://ucsihospital.com/ (the “UCSI Websites”). TGL is not responsible for the content, views, or accuracy of information on the UCSI Websites and does not endorse or affirm the content of the UCSI Websites.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 filed with the Securities and Exchange Commission (“SEC”) on September 28, 2023 and other filings made with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. These forward-looking statements cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

For further information, please contact:

U.S. Investor Contact

Phill Carlson
KCSA Strategic Communications
[email protected]

Malaysian Investor Contacts

[email protected]

Media Contact

Sue Chuah, Chief Marketing Officer
Treasure Global Inc
[email protected]