Forise International announces expansion into blockchain consulting, director's resignation

INVESTMENT holding company Forise International Limited on Monday announced that it is expanding its consulting business into the blockchain industry.

This comes in the form of a consultancy service contract for blockchain virtual currency, secured by its wholly owned subsidiary Tianjin Forise Corporation Management Consultancy Limited (Tianjin WFOE) in June.

Under the contract, Tianjin WFOE will provide a Beijing consultancy firm with advice and consultancy services on blockchain virtual currencies and related business, as well as analysis of the future outlook for the virtual currency/commodities market.

In a separate announcement, Forise International said its lead independent director Christopher Chong will be resigning from the board due to health and personal reasons. He will relinquish his position as chairman of the audit committee and member of the nominating and remuneration committee, but will act as a consultant to the company until the new audit committee chairman is appointed.

However, as the company is due to release its Q2 results shortly, it has requested that Mr Chong remain on the board until the results are released, as a show of confidence in the company.

Thus, Mr Chong's effective resignation date will be either Aug 15 or the date that Forise International releases its Q2 results, whichever is later.

Forise International shares last traded at 0.3 Singapore cent on Friday, down 0.1 Singapore cent.