Principal Activities
VIG and its controlled entities (the "Group") provides:
- SaaS, IaaS & PaaS services to customers;
- Education cloud platforms which bring together best-in-class resources and applications from strategic partners such as education service and e-learning content providers; and
- A wide range of e-learning solutions for educational institutions, students and parents.
Key areas of activity during the quarter:
- SaaS, IaaS & PaaS service in PRC - VIG operates its cloud services in PRC through its subsidiary, Shenghan (known as Wenhan, company name changed on
- E-learning and cloud education - Shenghan contributed most of the revenue and cash inflow of the E-learning business during the quarter. The company entered
A summary of revenue and expenditure (cash basis) incurred in respect of the Company's business activities is contained in the link below.
The cash flow from SaaS, IaaS & PaaS segment remained healthy during the quarter. The cash inflow of E-learning & online education business was still mainly incurred in the PRC. The major expenditure of the Australian business was the set-up cost of the local platform and staff costs. The group received
The Company has also begun exploring acquisition opportunities of businesses in the Australian education industry which will have a synergistic effect with VIG's existing e-learning business and have the potential to further strengthen the Company's offerings through better serving overseas and local students and trainees who use VIG's education cloud platforms. One of the key goals of the Company is to increase the e-learning content provided through VIG's cloud education platforms to increase VIG's brand, value, and reputation in the marketplace.
Comment on Appendix 4C Cash Flow Report
As we estimated in the last activity report, the turnover of accounts receivable has increased gradually due to the wider economic recovery. The Group anticipates its cash flow will remain healthy and the E-learning & online education business will contribute more to the Group's financial position.
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