TraceSafe Grows Momentum in Malaysian Market in Next Phase of Government-Led Deployments
Vancouver, British Columbia--(Newsfile Corp. - February 16, 2021) - Tracesafe Inc. (CSE: TSF) ("TraceSafe"), a global leader in wearable safety tech and connected workforce solutions, including large-scale venue management and asset tracking, is proud to announce the immediate deployment of 10,000 units to a government affiliated organization in Malaysia.
Following a successful multi-country deployment of 60,000 wearables for a tier-1 semiconductor company, which included 3,000 units for their employees at a manufacturing facility in Malaysia, TraceSafe continues to grow momentum in Southeast Asia. This development represents part of TraceSafe's strategic focus on enterprises with over 1,000 employees, which it notes, have been some of the most active implementing safety protocols in the region. According to S&P Capital IQ, there are over 700 companies in Malaysia that employ over 1,000 workers, totalling a potential market of 3.3 million employees.
"We're thrilled to continue working with partners in Malaysia on scalable enterprise solutions that ensure the health and safety of all employees, no matter the size of the firm," said Wayne Lloyd, TraceSafe CEO. "This represents a huge growth opportunity for us and is a testament to our Singapore team's effectiveness and reach in the region."
TraceSafe is initially sending 10,000 units to a government affiliated organization in Malaysia for deployment to enterprise clients. Malaysia's economy is projected to grow by 6.7% in 2021, according to a World Bank report. TraceSafe is honored to contribute to Malaysia's economic growth in 2021 and beyond.
Since the outset of the COVID-19 pandemic, TraceSafe has shipped over 400,000 wearables to Hong Kong, and hundreds of thousands of safety wearables to additional governments and enterprises worldwide. TraceSafe devices are tailor made for large and efficient deployments, and the firm is well poised to continue shipping at scale.
TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.
For further information, please contact:
Wayne Lloyd, CEO
+1 (604) 629-9975
Alan Tam, CFO
+1 (604) 377‐7575
+1 (604) 620-8589
The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.
Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.
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