NASDAQ-listed wealth and health firm, AGBA Group Holding Limited to acquire Sony Life Financial Advisers Pte Ltd in Singapore

• AGBA Group signs agreement to acquire Sony Life Financial Advisers Pte Ltd in Singapore
• Acquisition is a key milestone for AGBA’s business and expansion beyond the Greater Bay Area into Southeast Asia

HONG KONG and SINGAPORE – Media OutReach – 6 April 2023 – NASDAQ-listed AGBA Group Holding Limited “AGBA” announced that it has entered into a sale and purchase agreement, dated 5 April 2023, to acquire Sony Life Financial Advisers Pte Ltd, a duly licensed financial adviser and insurance broker in Singapore. AGBA, together with its subsidiary, the “AGBA Group”, is a leading one-stop financial supermarket headquartered in Hong Kong.

The latest acquisition marks a key milestone for AGBA; it is lucrative to its insurance and fintech businesses and expands access to key markets in Asia. While AGBA’s primary focus is in the Greater Bay Area in China, Singapore was selected for expansion due to the island nation’s position and reputation as a global center for innovation, business and finance. Ranked 10^th place for average income by country, Singapore has is known to have one of the highest saving rates in the world.