MySQUAR Limited Casual Game Platform Soft Launch (8282U)

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RNS Number : 8282U

MySQUAR Limited

23 January 2017

MySQUAR Limited ("MySQUAR" or the "Company")

Casual Game Platform Soft Launch

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 excited to announce the soft launch today of a platform called Lucky Wingabar, with multiple casual games. An official launch is expected within 3 weeks from the soft launch.

There will initially be five casual games included when users download the application, with new games added periodically. This gives users a broader range of gaming choices to fit their interests and lifestyle. Hardcore games (such as Hawk Hero or Chakra Ninja) require a longer time commitment of 30 minutes or more while casual games are easier to play and can be played for a shorter time.

The platform will have a centralised user base with single user accounts (a user with one account can play all games within the platform) with a library of casual games that will be expanded over time. Users who have downloaded the platform will not need to download individual casual games separately. This will increase user engagement as users can easily change from one casual game to another all within the MySQUAR Lucky Wingabar platform. Hardcore games will continue to be marketed and downloaded individually.

The platform and its games are run on the 'freemium' model, which allows free play up to a certain level, after which players have to pay for purchasing in-game assets such as virtual coins that enhance their gaming capability.

By launching the casual game platform, MySQUAR fulfills an important category (casual games) in the gaming market that is estimated to have millions of players. Revenue generated from the platform is therefore expected to be very significant to the Company due to such a large user base.

Eric Schaer, CEO of MySQUAR, said: "The release of the platform helps MySQUAR solidify its leading position in the mobile-based value added services in Myanmar. The platform concept has been proven to have considerable competitive advantages in user acquisition and retention and marketing expense savings. We expect the platform and its further developments to contribute significant monetisation results to the Company in financial year 2017 and thereafter."

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/Laura 
 Harrison 
 
 Beaufort Securities Limited 
 Joint Broker                    Tel: +44 (0) 207 
 Jon Belliss/Elliot Hance        382 8300 
 
 Mirabaud Securities LLP 
 Joint Broker 
 Edward Haig-Thomas/Peter        Tel: +44 (0)20 
 Krens                           7878 3447 
 
  Public Relations               Tel: [phone] 
  Damien McCrystal               770 758 
                                 [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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January 23, 2017 03:24 ET (08:24 GMT)