MySQUAR Limited Integration of Ooredoo Myanmar's Billing Services (1267R)
September 19 2017 - 2:01AM
UK Regulatory
TIDMMYSQ
RNS Number : 1267R
MySQUAR Limited
19 September 2017
19 September 2017
MySQUAR Limited ("MySQUAR" or the "Company")
Integration of Ooredoo Myanmar's Billing Services
MySQUAR, the Myanmar-language social media, entertainment and
payments platform whose principal activity is to design, develop
and commercialise Myanmar-focused internet-based mobile
applications, is pleased to announce it has successfully integrated
Ooredoo Myanmar's billing services ("Ooredoo"), whereby MySQUAR
will use Ooredoo's carrier billing service (purchases are made by
deducting from the phone balance) for MySQUAR's mobile applications
and games. Ooredoo is a leading telecommunications provider
operating in Myanmar since 2014 and will earn a share of revenues
generated from MySQUAR's applications and games.
Ooredoo is a major international telecommunications provider in
Myanmar with a subscription base of over 9 million mobile customers
as of the end of 2016 and was the first operator to launch 4G
services in Myanmar while also expanding its 3G network. It's 4G
service is now available across 52 townships which cover 5 major
cities and leads the 4G market with 5 million 4G subscribers.
The integration with Ooredoo will give MySQUAR access to
Ooredoo's subscription base for enhanced distribution and marketing
opportunities and in-app purchases will now be easier for MySQUAR
users that are also Ooredoo subscribers.
Pham Dang Hung, COO & CFO of MySQUAR, said: "We are
delighted to work with Ooredoo whereby the Company's applications
and games will be directly available to Ooredoo's users. As a
result we expect that the revenue generating capability of the
Company will also be enhanced which we intend to exploit through a
planned program of new title releases."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information:
MySQUAR Limited
Eric Schaer (Chief Executive) Tel: +65 6818 6089
Pham Dang Hung (CFO)
SP Angel Corporate Finance LLP
Nominated Adviser Tel: +44 (0) 203 470
0470
Stuart Gledhill/Soltan Tagiev
Beaufort Securities Limited
Broker Tel: +44 (0) 207 382
Jon Belliss/Elliot Hance 8300
Public Relations
Damien McCrystal Tel: +44 (0) 781 677
0758
damien@mccrystal.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
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