MySQUAR Limited Integration of Telenor Myanmar's Billing Services (0003A)

TIDMMYSQ

RNS Number : 0003A

MySQUAR Limited

21 March 2017

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

MySQUAR Integrates Telenor 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 and utilised the carrier billing service (purchases are made by deducting from the phone balance) of Telenor Myanmar ('Telenor'), a leading Norwegian telecommunications provider operating in Myanmar since 2014, for MySQUAR's mobile applications and games. Telenor will earn a share of revenues as part of the integration.

Currently, MySQUAR users make purchases using mobile top-up ('MTU') phone cards which can be inconvenient, the online billing services of Red Dot Payments or the carrier billing service of MECTel which has limited market coverage and a smaller subscription base.

Telenor is a major international telecommunications provider in Myanmar with a market share of about 37%. It has a strong subscription base with 18.2 million mobile customers as of the end of 2016 and has extended its LTE (4G) network to six new cities.

The integration will give MySQUAR access to Telenor's large subscription base for enhanced distribution and marketing opportunities and in-app purchases will now be easier for MySQUAR users that are also Telenor subscribers. Revenue is anticipated to increase with this integration and this more convenient payment option.

To qualify for Telenor's carrier billing services, MySQUAR's user flows (the path taken by users through the mobile interface to complete a payment process), authentication and security features were evaluated to ensure it meets Telenor's international standards. MySQUAR is one of the few mobile value-added service providers able to meet their requirements, further validating the strength of the Company's products and services.

Eric Schaer, CEO of MySQUAR, said: 'The Company continues to seek new partnerships and strategies to diversify and build its user base and monetisation channels. The integration and revenue share with Telenor Myanmar gives MySQUAR access to its large, growing user base and we expect this streamlined payment process will contribute towards monetisation results for the financial year ending 30 June 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           Tel: +44 (0) 207 
 Harrison                        382 8300 
 Beaufort Securities Limited     Tel: +44 (0)20 
 Joint Broker                    7878 3447 
 Jon Belliss/Elliot Hance 
 Mirabaud Securities LLP 
 Joint Broker 
 Edward Haig-Thomas/Peter 
 Krens 
 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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March 21, 2017 03:00 ET (07:00 GMT)