Welcome to the new morningstar.co.uk! Learn more about the changes and how our new features help your investing success.

Sealand Capital Signs Contract To Manage Suncity's TikTok Account

LONDON (Alliance News) - Asia-focused digital sector investor Sealand Capital Galaxy Ltd said ...

Alliance News 20 May, 2019 | 12:34PM
Email Form

LONDON (Alliance News) - Asia-focused digital sector investor Sealand Capital Galaxy Ltd said Monday it has signed a contract worth CNY4.5 million with Tenet, through its marketing firm and subsidiary New Sky Global.

Tenet is a multi-channel network that creates short video productions, and is also a subsidiary of leisure and entertainment services provider Suncity Group Leisure Services Ltd.

Under the contract's terms, New Sky Global will manage Suncity's account on short video platform TikTok, through basic setup, video content planning, filming and production. The account will be used to build Suncity's brand and increase member signup to the "Sun Supreme Club".

New Sky Global will manage the account for an initial eight months starting in June, and will product 64 short videos during this time.

Up to 60% of the total contract value is receivable within Sealand's current financial year, and the remainder will be paid six months after account management begins, subject to reaching a set target for Suncity's follower count.

"We are delighted that our recent acquisition, New Sky Global, has entered into a contract with Suncity so soon after our investment and that it will generate meaningful revenues for Sealand. This proves that our company's strategy of taking advantage of the enormous opportunities in the Asian digital marketing space is working," said Executive Chair Nelson Law.

"New Sky Global's relationship with Suncity will help its marketing effort as it signs up new clients who are looking to increase user traffic to their websites, platforms and accounts," Law added.

Shares in Sealand Capital were untraded on Monday, last quoted at 2.75 pence.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Sealand Capital Galaxy Ltd 2.65 GBX -3.64 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites