- NetLinkz (NET) will be helping the people of Beijing work safely and without fear of infection as the coronavirus continues to spread
- Tech company iLinkAll, in which NetLinkz holds an 80 per cent interest, has been chosen by the Beijing government to help workers operate remotely
- The company's tech will allow employees to access all office information from a secure location and keep businesses up and running in the midst of the epidemic
- iLinkAll joins the likes of big players like Alibaba, Tencent, and We Chat in being chosen by the Beijing government
- NetLinkz also announced the completion of a $4.5 million share placement today, which will help support the iLinkAll operations
- After a morning spike, NetLinkz shares have fallen back to trade grey at 7.3 cents each in mid-afternoon trade
As the coronavirus continues to infect people and economies worldwide, ASX-listed NetLinkz (NET) will help keep Beijing workers safe and businesses running.
The Beijing Municipal Bureau of Economic and Information Technology has chosen Beijing iLinkAll Science and Technology — in which NetLinkz holds an 80 per cent interest — to help Beijing workers access their offices remotely.
iLinkAll joins big players like Alibaba, Tencent, and We Chat in being chosen by the government as part of the Remote Office solution.
Essentially, the companies chosen by the Beijing government will help people in Beijing keep working without the risk or fear of infection. With iLinkAll's tech, office information can be received and sent from safe locations.
While iLinkAll will use its Virtual Secure Network (VSN) to keep businesses in operation and help steady the economy, other selected companies will cover the areas of outbreak management, telemedicine and remote consultation, online education, and more.
NetLinkz remained transparent in its announcement to shareholders, admitting that there is no guarantee of additional revenue hitting the company's books as a result of today's news. However, the government partnership will certainly play an important role in getting the iLinkAll name out, cementing the VSN's place in the remote technology world, and proving its capabilities for future business.
NetLinkz Executive Chairman James Tsiolis said the company is proud to be supporting the people of Beijing during a difficult time for the city.
"LinkAll’s VSN has been selected as the City’s first batch of ‘remote and mobile’ technology solutions to help small to medium-sized companies and their professional workers remotely log into their office and help those businesses get back to work," James said.
"iLinkAll VSN is the only majority foreign-owned company selected by the Beijing Government which is a significant acknowledgement of the work that our company has done to create a secure solution for the Chinese market and one that is trusted to assist its businesses and community," he said.
Looking ahead, James said the company anticipates a similar program will be rolled out across the country to stymie the slowdown of the Chinese economy. He added that the early selection of iLinkAll is likely to increase the company's visibility when similar initiatives are launched across China.
Released with today's announcement was news of the completion of a $4.5 million share placement by NetLinkz. The company placed just under 70 million new shares at 6.5 cents apiece to raise the funds and said the extra cash will help support the iLinkAll operations.
NetLinkz shares saw a morning spike but quickly abated back to the grey line. In mid-afternoon trade, NetLinkz shares are trading flat at 7.3 cents each.