Yojee (ASX:YOJ) continues expansion across APAC

Highlights

  • ASX:YOJ share price has opened over 2% above previous close on ASX today.
  • Yojee is continuing its APAC expansion, especially in Philippines.
  • The Company is adding on new enterprise clients for it logistics platform.

Cloud based logistics platform provider Yojee Limited (ASX:YOJ) shared an update on its deployment schedule on ASX today. With the announcement, YOJ share price has opened 2.5% higher than previous close. New software deployment orders enterprise clients, shall generate revenues for Yojee.

Expansion in Philippines

Yojee has received further orders from existing global enterprise clients, to deploy its platform into the Philippines, continuing its expansion through its next phase of growth in APAC. In Philippines, YOJ has expanded its initial hub implementation from a single client to a second enterprise client. The client is expanding to its’ 8th country of deployment with Yojee’s Platform, representing major part of client’s regional presence. The platform deployment is to go live in December quarter.

With this, YOJ is witnessing multiple enterprise client presence and expansion of its hubs across a single country, Philippines. It is adding on to YOJ’s market share and adding further value to its’ in-country network.

How is Yojee placed now?

Yojee has to date signed enterprise level agreements for SaaS, with 4 global enterprise clients. All of the agreements are Master Services Agreements (MSAs) or its equivalent. These have set a standard framework of terms and conditions for undertaking future Yojee platform hub rollouts for clients’ operations in a single country, across countries, or even for multiple hubs within one country.

As of now, Yojee is well-funded with AU$19.4 million at bank, as of 30 June 2021 and is positioned to work through deployments and change process of digitising land transport, one of the world’s largest industrial sectors.

Post announcement, YOJ shares have opened in green, with over 2.5% gain on ASX. YOJ share are trading at 20 cents per share on ASX at 11:00 AM AEST.

Bottom line

The uptake of Yojee’s technology in the enterprise space is showing strong momentum, particularly in the Aisan operations of global logistics companies. The expansion of YOJ’s platform in APAC will help YOJ build an ecosystem of users and integrated systems. It is also expected to attract future enterprise adopters of Yojee’s platform in existing countries of operations.

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