Business
International Expansion
International Expansion.
About this update from Mobilityone Limited
[{"type":"text","content":"\n MobilityOne Limited\n14 April 2008\n\n\n MobilityOne Limited\n\n International expansion into both Cambodia and Indonesia\n\n\n\nHighlights\n\n • Secures First Contract in Cambodia\n • Expansion into Indonesia with Finnet Agreement\n • Appointed Third Party Acquirer by MEPS in Malaysia\n\nMobilityOne Limited ('MobilityOne') is pleased to announce that its wholly-owned\nsubsidiary, MobilityOne Sdn Bhd ('MobilityOne Malaysia') has been appointed by \nTelekom Malaysia International(Cambodia) Co., Ltd ('TMIC'), one of the major \ntelecommunications companies in Cambodia, as its technology partner to provide \nthe e-voucher and credit transfer platform for its telecommunications\noperations in Cambodia. Cambodia's mobile market grew at an annual rate of circa\n35% in 2007. The current mobile penetration rate is only 15% with more than 1.5 \nmillion mobile subscribers, of which more than 95% are prepaid users.\n\nThe contract represents MobilityOne's first entrance into the Cambodian market \nand a delivery on its stated strategy of expanding into new geographies. Under \nthe terms of the deal, MobilityOne will be responsible for, inter-alia, the \nsupply, delivery, installation, testing and commissioning of the system, and for\nthe system's maintenance and support.\n\nIn addition, MobilityOne Malaysia has incorporated a subsidiary, PT.MobilityOne \nIndonesia, in Jakarta, which has entered into a Memorandum of Understanding with\nPT. Finnet Indonesia ('Finnet') to develop an electronic mobile wallet in \nIndonesia. Finnet is a transaction management company which focuses primarily on\nswitching and shared transactions settlement for all business entities,\nespecially financial institutions.\n\nSeparately, the Group is pleased to announce that it has been appointed as a \nthird party acquirer ('TPA') for the e-debit scheme run by Malaysian Electronic \nPayment System ('MEPS'). MEPS is the sole operator of the national payment \nswitch in Malaysia which links to the majority of banks for e-debit \ntransactions. Prior to being granted the status, all e-debit transactions \ncarried out on MobilityOne's terminals were conducted through a third party with\nthe TPA status, invoking additional commission charges.\n\nHussian A. Rahaman, Chief Executive Officer of MobilityOne, commented:\n\n'Third party acquirer status with MEPS will n...