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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Mol Global ADS (MM) | NASDAQ:MOLG | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.23 | 0 | 01:00:00 |
Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16
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of the Securities Exchange Act of 1934
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For the Month of May 2015
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Commission File Number: 1-36637
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MOL Global, Inc.
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(Exact Name of Registrant as Specified in its Charter)
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Lots 07-03 & 08-03, Levels 7 & 8
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Berjaya Times Square, No. 1, Jalan Imbi
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55100 Kuala Lumpur, Malaysia
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(Address of principal executive offices)
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Exhibits.
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99.1
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Press Release issued by the Company on May 27, 2015: “MOL Announces First Quarter 2015 Unaudited Financial Results”
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DATED: May 29, 2015
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MOL Global, Inc.
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By:
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/s/ Ramesh Pathmanathan
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Name:
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Ramesh Pathmanathan
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Title:
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Chief Financial Officer
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·
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Consolidated revenue increased by 23.4% to MYR57.2 million (US$15.5 million) from MYR46.4 million in the prior year period.
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MOLPoints segment revenue increased by 37.3% to MYR40.3 million (US$10.9 million) from MYR29.3 million in the prior year period.
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MOLReloads segment revenue increased by 11.3% to MYR9.7 million (US$2.6 million) from MYR8.7 million in the prior year period.
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MOLPay segment revenue increased by 125.1% to MYR3.9 million (US$1.0 million) from MYR1.7 million in the prior year period.
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MMOG.asia segment revenue decreased by 51.8% to MYR3.0 million (US$0.8 million) from MYR6.1 million in the prior year period.
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Expanded MOLPoints in Thailand through partnership agreement with FamilyMart, a popular convenience store, by utilizing 1,200 stores across the country. All of the stores are expected to roll out MOLPoints by the second half of 2015.
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Expanded MOLPoints in the Philippines through partnership agreement with 7 Eleven, a popular convenience store, by utilizing 1,300 stores across the country. All of the stores are expected to roll-out MOLPoints by the second half of 2015.
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Increased accessibility of MOLPoints in Turkey by securing access to major ATM networks through several of Turkey’s largest local banks. Close to 7,000 ATMs will roll-out MOLPoints, allowing users easy and convenient access to top-up their MOLPoints.
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Reached a definitive cooperation agreement in May 2015 to provide MOLPay payment solution services for one of China’s largest handset manufacturers in Malaysia.
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Expanded MOLPay through a tripartite strategic partnership between NganLuong, our subsidiary in Vietnam; WeShop Global Group of Singapore; and a leading Korean shopping mall and online auction platform to launch the first multinational cross-border shopping portal in Vietnam and South East Asia.
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·
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MOLPoints segment revenue increased by 37.3% to MYR40.3 million (US$10.9 million) from MYR29.3 million in the prior year period primarily due to an increase in volume of 18.4% to MYR195.8 million in the first quarter of 2015 from MYR165.4 million in the prior year period. The top three territories represent approximately 80.7% of our total payment volumes, which include; Thailand (30.8%), Malaysia (26.3%) and the combination of Turkey and the Middle East region (23.6%). Revenue and payment volumes from Thailand increased by 46.4% and 13.9% respectively, in the first quarter of 2015 from the prior year period. Revenue and payment volumes from Malaysia declined by 16.3% and 6.8% respectively due to the shift from PC to mobile games. Revenue and payment volume from the Turkey and Middle East region grew by 187.5% and 117.4% respectively, in the first quarter of 2015 from the prior year period primarily due to our acquisition of a 51% interest in PayByMe in September 2014, as well as growth in Turkey. In addition, revenue and payment volume from the United States and Brazil, through Rixty, grew by 102.3% and 76.5% respectively, in the first quarter of 2015 from the prior year period, and now represents 7.5% of total MOLPoints volumes. Overall revenue share or take rate also improved by 2.8%, mainly arising from improvements in Thailand, United States and Brazil as well as with PayByMe, which has a relatively higher take rate than MOLPoints as a whole.
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MOLReloads segment revenue increased by 11.3% to MYR9.7 million (US$2.6 million) from MYR8.7 million in the prior year period primarily due to an increase in volume of 16.1% to MYR369.4 million from MYR318.2 million. This was due to increased volume in Malaysia and the Philippines, which now represent 92.3% and 6.4% of total volumes, respectively. In addition, MOLReloads in Thailand expanded more than ten-fold, although it still represents only less than 2% of total MOLReloads volumes. Overall take rate for the first quarter 2015 decreased slightly from the prior year period.
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MOLPay segment revenue increased by 125.1% to MYR3.9 million (US$1.0 million) from MYR1.7 million in the prior year period primarily due to an increase in volume of 130.6% to MYR121.9 million from MYR52.9 million. MOLPay volume in Vietnam and Malaysia grew by 173.7% and 62.6%, and represent 72.6% and 27.4% of total MOLPay volume, respectively. The overall take rate for this segment for the first quarter of 2015 was consistent with the prior year period.
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MMOG.asia segment revenue decreased by 51.8% to MYR3.0 million (US$0.8 million) from MYR6.1 million in the prior year period. The decrease of this high margin segment was primarily due to the declining popularity of our legacy online PC games portfolio, which saw a decrease in volume of 52.4% to MYR3.6 million from MYR7.5 million. The decrease in volume was primarily due to a rapidly shifting industry trend from PC to mobile. The overall take rate for this segment for the first quarter of 2015 was consistent with the prior year period.
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MOLPoints segment direct cost and other ancillary expenses increased by 63.8% to MYR22.9 million (US$6.2 million) from MYR14.0 million in the prior year period due to our newly acquired mobile carrier business, PayByMe, and volume growth in Thailand, Turkey, Brazil and the United States. The carrier billing business, PayByMe, represented 33.9% of MOLPoints segment direct costs and ancillary expenses, which generally represents higher costs than the other components of the segment. In addition, the increase in expenses was also due to higher channel costs in Thailand and Turkey (excluding PayByMe), which represented 28.8% and 12.9% of MOLPoints segment direct cost and other ancillary expenses, respectively. These increases in segment direct cost and other ancillary expenses were partially offset by a 15.3% reduction in segment direct cost and other ancillary expenses in Malaysia, despite volume declining by 6.8%.
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MOLReloads segment direct cost and other ancillary expenses increased by 11.1% to MYR5.7 million (US$1.5 million) from MYR5.1 million in the prior year period due to volume growth of 16.1%.
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MOLPay segment direct cost and other ancillary expenses increased by 190.6% to MYR2.1 million (US$0.6 million) from MYR0.7 million in the prior year period primarily due to increases in MOLPay volume in Vietnam and Malaysia of 173.7% and 62.6%, respectively. In addition, segment direct costs and ancillary expenses also increased due to the higher proportion of channel costs in Vietnam, which supported the significant volume growth.
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MMOG.asia segment direct cost and other ancillary expenses decreased by 4.7% to MYR0.19 million (US$0.05 million) from MYR0.20 million in the prior year period due to a 52.4% decrease in the segment’s underlying volumes.
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MOLPoints segment gross profit increased by 13.1% to MYR17.4 million (US$4.7 million) from MYR15.4 million in the prior year period. Segment gross profit margin decreased to 43.1% in the first quarter of 2015 from 52.3% in the prior year period due to relatively lower gross margin from PayByMe compared to MOLPoints as a whole. MOLPoints volume derived from PayByMe represented 11.6% of MOLPoints volume. PayByMe gross profit margin was 21.4% compared to MOLPoints segment gross profit margin excluding PayByMe of 50.2%. PayByMe’s lower gross profit margin is a result of the telecom carrier billing business having a higher channel cost in comparison to other MOLPoints business. In addition, MOLPoints segment gross profit margin was affected by higher channel costs.
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MOLReloads segment gross profit increased by 11.7% to MYR4.0 million (US$1.1 million) from MYR3.6 million in the prior year period due to increased volume. Segment gross profit margin remained stable at 41.0% for the first quarter of 2015 and the prior year period.
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MOLPay segment gross profit increased by 76.1% to MYR1.7 million (US$0.5 million) from MYR1.0 million in the prior year period due to increased volume. Segment gross profit margin decreased to 44.8% in the first quarter of 2015 as compared to 57.3% in the prior year period, primarily due to higher channel costs in Vietnam.
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MMOG.asia segment gross profit decreased by 53.3% to MYR2.8 million (US$0.7 million) from MYR5.9 million in the prior year period primarily due to a decrease in revenue. Segment gross profit margin decreased to 93.7% for the first quarter of 2015 from 96.8% in the prior year period due to higher channel costs.
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United States:
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+1-631-514-2526
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International Toll Free:
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+1-855-298-3404
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Malaysia:
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1800-816-107
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Hong Kong:
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+852-5808-3202
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Singapore:
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+65-6823-2299
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Indonesia:
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001-803-019-1840
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Conference ID:
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#9853187
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United States Toll Free:
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+1-866-846-0868
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International:
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+61-2-9641-7900
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Conference ID:
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#9853187
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For the three months ended
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||||||||
March 31,
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March 31,
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2014
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2015
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(In thousands)
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MYR
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MYR
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Profit/(loss) for the period
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9,618 | (20,256 | ) | |||||
Plus:
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Total depreciation and amortization
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5,587 | 6,858 | ||||||
Impairment loss on trade and other receivables
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- | 63 | ||||||
Impairment loss on inventories
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- | 400 | ||||||
Share of results of associates
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110 | (1 | ) | |||||
Unrealized loss on foreign exchange
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102 | 3,905 | ||||||
Realized loss on foreign exchange
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37 | 102 | ||||||
Derivative fair value adjustment
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(3,736 | ) | - | |||||
Gain on disposal of property, plant and equipment
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- | (9 | ) | |||||
Interest income
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(261 | ) | (456 | ) | ||||
Interest expense
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1,316 | 1,008 | ||||||
Income tax expense
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407 | 252 | ||||||
Share based compensation expenses
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- | 18,159 | ||||||
Adjusted EBITDA
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13,180 | 10,025 |
For the three months ended
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March 31,
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March 31,
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March 31,
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||||||||||
2014
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2015
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2015
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(In thousands)
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MYR
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MYR
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USD
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Revenue
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46,357 | 57,225 | 15,458 | |||||||||
Direct cost and other ancillary expenses
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(20,163 | ) | (31,063 | ) | (8,391 | ) | ||||||
Employee expenses
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(7,767 | ) | (28,882 | ) | (7,802 | ) | ||||||
Depreciation and amortization expenses
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(5,587 | ) | (6,858 | ) | (1,853 | ) | ||||||
Marketing, advertising and promotion expenses
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(1,036 | ) | (1,728 | ) | (467 | ) | ||||||
Communication and travelling expenses
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(1,545 | ) | (2,163 | ) | (584 | ) | ||||||
Office related expenses
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(1,050 | ) | (1,229 | ) | (332 | ) | ||||||
Other operating expenses
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(1,885 | ) | (8,716 | ) | (2,354 | ) | ||||||
Profit/ (loss) from operations
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7,324 | (23,414 | ) | (6,325 | ) | |||||||
Other income
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4,127 | 4,417 | 1,193 | |||||||||
Finance costs
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(1,316 | ) | (1,008 | ) | (272 | ) | ||||||
Share of results of associates
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(110 | ) | 1 | - | ||||||||
Profit/(loss) before tax
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10,025 | (20,004 | ) | (5,404 | ) | |||||||
Income tax expense
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(407 | ) | (252 | ) | (68 | ) | ||||||
Profit/(loss) for the period
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9,618 | (20,256 | ) | (5,472 | ) | |||||||
Profit/(loss) for the period attributable to:-
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Owners of the Company
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7,667 | (19,874 | ) | (5,369 | ) | |||||||
Non-controlling interests
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1,951 | (382 | ) | (103 | ) | |||||||
9,618 | (20,256 | ) | (5,472 | ) | ||||||||
Weighted average ordinary shares (number in thousands)
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Basic
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58,897 | 66,367 | 66,367 | |||||||||
Diluted
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58,897 | 66,367 | 66,367 | |||||||||
Earnings/(loss) per share
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Basic (sen(1)/cents)
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13.02 | (29.95 | ) | (8.09 | ) | |||||||
Diluted (sen(1)/cents)
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13.02 | (29.95 | ) | (8.09 | ) |
For the three months ended
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||||||||||||
March 31,
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March 31,
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March 31,
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||||||||||
2014
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2015
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2015
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(In thousands)
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MYR
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MYR
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USD
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Profit/(loss) for the period
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9,618 | (20,256 | ) | (5,472 | ) | |||||||
Other comprehensive income/(loss), net of tax
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Items that may be reclassifiedsubsequently to profit or loss:-
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Exchange differences on translating foreign operations
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(917 | ) | 9,757 | 2,636 | ||||||||
Other comprehensive (loss)/income for the period, net of tax
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(917 | ) | 9,757 | 2,636 | ||||||||
Total comprehensive income/(loss) for the period
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8,701 | (10,499 | ) | (2,836 | ) | |||||||
Total comprehensive income/(loss) for the period attributable to:-
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Owners of the Company
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7,154 | (10,397 | ) | (2,808 | ) | |||||||
Non-controlling interests
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1,547 | (102 | ) | (28 | ) | |||||||
8,701 | (10,499 | ) | (2,836 | ) |
December 31,
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March 31,
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March 31,
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||||||||||
2014
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2015
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2015
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(Audited)
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(Unaudited)
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(Unaudited)
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(In thousands)
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MYR
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MYR
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USD
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ASSETS
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Non-current assets
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Property, plant and equipment
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11,176 | 10,718 | 2,895 | |||||||||
Investment property
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2,367 | - | -- | |||||||||
Investment in associates
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89 | 90 | 24 | |||||||||
Development expenditure
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6,559 | 7,287 | 1,968 | |||||||||
Intangible assets
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164,408 | 160,626 | 43,389 | |||||||||
Finance lease receivables
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460 | 428 | 116 | |||||||||
Deferred tax assets
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1,294 | 1,325 | 358 | |||||||||
Other receivables, deposits and prepaid expenses
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1,082 | - | -- | |||||||||
Available for sales financial assets
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807 | - | -- | |||||||||
Held for trading financial assets
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- | 1,775 | 479 | |||||||||
Total non-current assets
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188,242 | 182,249 | 49,229 | |||||||||
Current assets
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Inventories
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23,842 | 30,725 | 8,300 | |||||||||
Trade receivables
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58,300 | 56,155 | 15,169 | |||||||||
Other receivables, deposits and prepaid expenses
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25,021 | 26,329 | 7,112 | |||||||||
Amount due from other related parties
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960 | 1,898 | 513 | |||||||||
Finance lease receivables
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99 | 109 | 29 | |||||||||
Cash and bank balances
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150,571 | 114,950 | 31,051 | |||||||||
Restricted cash
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34,393 | 40,521 | 10,946 | |||||||||
Total current assets
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293,186 | 270,687 | 73,120 | |||||||||
Total assets
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481,428 | 452,936 | 122,349 | |||||||||
EQUITY AND LIABILITIES
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Capital and reserves
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Share capital
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38,059 | 38,059 | 10,281 | |||||||||
Treasury shares
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(11,638 | ) | (11,638 | ) | (3,144 | ) | ||||||
Reserves
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247,284 | 255,031 | 68,890 | |||||||||
Equity attributable to owners of the Company
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273,705 | 281,452 | 76,027 | |||||||||
Non-controlling interests
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15,391 | 15,289 | 4,130 | |||||||||
Total equity
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289,096 | 296,741 | 80,157 | |||||||||
Non-current liabilities
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Borrowings
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3,026 | 1,162 | 314 | |||||||||
Pension liabilities
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603 | 759 | 205 | |||||||||
Deferred tax liabilities
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9,753 | 8,734 | 2,359 | |||||||||
Total non-current liabilities
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13,382 | 10,655 | 2,878 | |||||||||
Current liabilities
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Trade payables
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82,343 | 83,586 | 22,579 | |||||||||
Other payables and accrued expenses
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30,311 | 26,332 | 7,113 | |||||||||
Derivative financial liabilities
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1,202 | 1,202 | 325 | |||||||||
Amount due to other related parties
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603 | 1,188 | 321 | |||||||||
Borrowings
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52,708 | 18,451 | 4,984 | |||||||||
Deferred revenue
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11,122 | 14,136 | 3,818 | |||||||||
Tax liabilities
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661 | 645 | 174 | |||||||||
Total current liabilities
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178,950 | 145,540 | 39,314 | |||||||||
Total liabilities
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192,332 | 156,195 | 42,192 | |||||||||
Total equity and liabilities
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481,428 | 452,936 | 122,349 |
For the three months ended
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||||||||||||
March 31,
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March 31,
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March 31,
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||||||||||
2014
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2015
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2015
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||||||||||
(In thousands)
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MYR
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MYR
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USD
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Profit/(loss) for the period
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9,618 | (20,256 | ) | (5,472 | ) | |||||||
Plus:
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||||||||||||
Total depreciation and amortization
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5,587 | 6,858 | 1,853 | |||||||||
Impairment loss on trade and other receivables
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- | 63 | 17 | |||||||||
Impairment loss on inventories
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- | 400 | 108 | |||||||||
Share of results of associates
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110 | (1 | ) | -- | ||||||||
Unrealized loss on foreign exchange
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102 | 3,905 | 1,055 | |||||||||
Realized loss on foreign exchange
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37 | 102 | 28 | |||||||||
Derivative fair value adjustment
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(3,736 | ) | - | -- | ||||||||
Gain on disposal of property, plant and equipment
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- | (9 | ) | (2 | ) | |||||||
Interest income
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(261 | ) | (456 | ) | (123 | ) | ||||||
Interest expense
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1,316 | 1,008 | 272 | |||||||||
Income tax expense
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407 | 252 | 68 | |||||||||
Share based compensation expenses
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- | 18,159 | 4,905 | |||||||||
Adjusted EBITDA
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13,180 | 10,025 | 2,709 |
For the three months ended
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||||||||||||
Mar 31,
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Mar 31,
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Mar 31,
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||||||||||
2014
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2015
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2015
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||||||||||
MYR
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MYR
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USD
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||||||||||
Volume (In thousands)
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MOLPoints(1)
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165,378 | 195,798 | 52,890 | |||||||||
MOLReloads(2)
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318,189 | 369,418 | 99,789 | |||||||||
MOLPay(3)
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52,871 | 121,925 | 32,935 | |||||||||
MMOG.Asia(4)
|
7,369 | 3,559 | 961 |
1 Year MOL GLOBAL, INC. Chart |
1 Month MOL GLOBAL, INC. Chart |
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