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MySQUAR Plans Gaming Platform After ChakraNinja Game Launch

Thu, 24th Nov 2016 11:05

LONDON (Alliance News) - Myanmar-based mobile app developer MySQUAR Ltd said Thursday that it is planning the launch of its own gaming platform, and expects a major new game to be ready for release before the end of the year.

MySQUAR said it expects that ChakraNinja, a game based on successful Japanese manga character Naruto, will be ready for official release by mid-December.

The company added that it intends to soft-launch a gaming platform by mid-January 2017, bundling four to five games in the initial launch and distributing future games on the same platform.

MySQUAR said it expects the profit margin of its gaming business to increase after agreeing a new revenue structure with its key payment service provider MecTel, the Myanmar state-backed mobile phone operator. MySQUAR said that, dependent on revenue levels, it expect current gross margins of 44% to increase by at least five percentage points.

The company also said it expects the Fastsell mobile marketplace app, from which it will receive 60% of the revenues under its perpetual agreement with developer Fastsell Company Ltd, to soft-launch in Myanmar on December 5.

"After its highly encouraging launch, the gaming business is now entering a new phase of growth and monetisation and we are looking forward to updating shareholders as the business continues to make progress," said Eric Schaer, chief executive officer.

"The introduction of Fastsell is not just an innovation for MySQUAR but for all of Myanmar, as access to goods nationwide and the means to make transactions quickly and simply will become a reality," added Schaer.

Shares in MySQUAR were up 1.9% at 3.57 pence Thursday.

By Adam Clark; adamclark@alliancenews.com

Copyright 2016 Alliance News Limited. All Rights Reserved.

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