HWH International Inc. Provides Updates on Travel Joint Venture

BETHESDA, MD, Dec. 18, 2024 (GLOBE NEWSWIRE) -- HWH International Inc. (“HWH” or the “Company”) (Nasdaq: HWH) is pleased to provide an update on the progress of a joint venture in its Hapi Travel business, in which HWH holds a 19% interest. HWH established this joint venture in April of 2024 with Mr. Chen Ziping, an experienced entrepreneur in the travel industry and Mr. Heng Fai Chan, HWH’s Executive Chairman.

Hapi Travel Group and its partners have established HapiTravel Holding Pte. Ltd., a Wholly Owned Foreign Enterprise (WOFE) in Singapore to serve as a holding company for its China operations. This joint venture is focused on three key sectors:

• Education Tours: Organizing inbound and outbound educational tours for primary and secondary schools in China.
• Conference Tour Packages: Offering tailored travel solutions for institutions and group events.
• B2B Hotel Booking System: Providing an efficient platform for hotel bookings, catering to businesses.

During the first three quarters of 2024, this joint venture and its predecessors have collectively generated revenue exceeding US$18 million. Additionally, this joint venture has successfully established its educational tour business in Hong Kong through its subsidiary, Hapi Travel Hong Kong Ltd., and plans are underway to set up subsidiaries in Singapore and Malaysia. These initiatives aim to capitalize on the growing travel demand between China and the ASEAN region, as well as vice versa.

“We are thrilled to witness exponential growth in travel between China and the rest of the world while expanding our footprint in the ASEAN region,” said Mr. Heng Fai Chan, Executive Chairman of HWH. “At HWH, promoting health, wealth, and happiness remains at the heart of our mission.”

About HWH International Inc.

HWH International Inc. is a purpose-driven lifestyle company encompassing differentiated offerings from four core pillars: Hapi Marketplace, Hapi Cafe, Hapi Travel and Hapi Wealth Builder. HWH develops new pathways to help people in their pursuit of Health, Wealth and Happiness.

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Forward Looking Statements

This press release contains, and certain oral statements made by representatives of HWH and its affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. HWH’s actual results may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding HWH’s continued growth and expansion and its ability to deliver value to customers and investors, along with those other risks described under the heading “Risk Factors” in the registration statement on Form S-1, filed by HWH with the Securities and Exchange Commission (the “SEC”) on December 3, 2024, and those that are included in any of HWH’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of HWH and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. HWH undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

No Offer or Solicitation

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

For investor and media inquiries, please contact:

HWH International Inc. 

4800 Montgomery Lane, Suite 210

Bethesda, MD 20814

301-971-3955