Alset Capital Acquisition Corp. Announces Update of Target’s F&B Business

Bethesda, MD, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Alset Capital Acquisition Corp. (Nasdaq: ACAX) (“Alset”) provided updates regarding its planned business combination target, HWH International Inc. (“HWH”). HWH shared updates on its food and beverage division business growth and upcoming plans. HWH’s food and beverage division has been expanding its presence and introducing new initiatives, establishing itself as a core division of HWH while offering complementary benefits to the membership-driven business model.

HWH’s “Hapi Cafe" brand has been successfully rolled out across five outlets across Asia, including locations in Singapore, Republic of China (Taiwan), Hong Kong, the People's Republic of China, and South Korea. HWH owns the Hapi Cafe stores in Singapore and South Korea, with affiliates owning the other three (3) locations. HWH will endeavour to further incorporate Hapi Cafe locations owned by affiliates into its food and beverage business. These cafes play a crucial role in connecting HWH with diverse communities and introducing HWH’s unique offerings to a broader audience.

Hapi Cafe's has been a significant driver behind HWH’s vision to offer not only delicious but also nutritious food and beverages to customers. Hapi Cafe serves as locations where like-minded people gather, exchange ideas and even conduct business.

Looking ahead, Hapi Cafe will launch of its membership sales in the second half of 2023. This program aims to reward valued customers with exclusive benefits, loyalty discounts, and access to exciting promotions as a token of appreciation for their support.

Furthermore, in line with HWH’s commitment to healthier meal options, HWH is actively seeking original equipment manufacturer candidates to collaborate on producing nutritious meals via meal prep services. HWH is conducting extensive market research on meal prep subscription services and exploring the popularity of the keto diet scene across various markets. This is a fast go-to market strategy given that KetoMei, an associated company of HWH, is one of the largest Keto meal prep providers in Singapore. These new offerings will cater to the diverse preferences of HWH’s members.