New Asia Holdings is a shell company with no active operations or revenue. Its original business — licensing algorithmic trading software for Forex markets under a SaaS model — was wound down after years of poor performance. The subsidiary housing the trading algorithms, Magdallen Quant Pte Ltd, was dissolved in early 2023. While it operated, the business licensed neural trading models to funds, banks, and broker-dealers, targeting Asian markets including Singapore, Hong Kong, Indonesia, and Australia. The model charged royalties equal to 20% of trading profits achieved by sub-licensees, but never gained traction — a regulated fund launched in 2017 with roughly $6.67M AUM was liquidated by 2019, and the company generated no revenue in 2022 or 2023. New Asia Holdings currently has no employees and is searching for a new business. In April 2024, the company signed a Share Exchange Agreement to acquire Olenox, a Wyoming company focused on oil and gas exploration and production in Texas, Oklahoma, and Kansas. Olenox targets distressed and underperforming oil and gas properties, and also offers wellbore cleaning and stimulation services using proprietary downhole tools. The deal involves issuing over 224M new shares to Olenox's sole shareholder. The transaction has not yet closed, and New Asia Holdings has provided no financial details on Olenox.