Mobilityone Regulatory News (MBO)

14 Apr 2008 07:00

MobilityOne Limited14 April 2008 MobilityOne Limited International expansion into both Cambodia and Indonesia Highlights • Secures First Contract in Cambodia • Expansion into Indonesia with Finnet Agreement • Appointed Third Party Acquirer by MEPS in Malaysia MobilityOne Limited ("MobilityOne") is pleased to announce that its wholly-ownedsubsidiary, MobilityOne Sdn Bhd ("MobilityOne Malaysia") has been appointed by Telekom Malaysia International(Cambodia) Co., Ltd ("TMIC"), one of the major telecommunications companies in Cambodia, as its technology partner to provide the e-voucher and credit transfer platform for its telecommunicationsoperations in Cambodia. Cambodia's mobile market grew at an annual rate of circa35% in 2007. The current mobile penetration rate is only 15% with more than 1.5 million mobile subscribers, of which more than 95% are prepaid users. The contract represents MobilityOne's first entrance into the Cambodian market and a delivery on its stated strategy of expanding into new geographies. Under the terms of the deal, MobilityOne will be responsible for, inter-alia, the supply, delivery, installation, testing and commissioning of the system, and forthe system's maintenance and support. In addition, MobilityOne Malaysia has incorporated a subsidiary, PT.MobilityOne Indonesia, in Jakarta, which has entered into a Memorandum of Understanding withPT. Finnet Indonesia ("Finnet") to develop an electronic mobile wallet in Indonesia. Finnet is a transaction management company which focuses primarily onswitching and shared transactions settlement for all business entities,especially financial institutions. Separately, the Group is pleased to announce that it has been appointed as a third party acquirer ("TPA") for the e-debit scheme run by Malaysian Electronic Payment System ("MEPS"). MEPS is the sole operator of the national payment switch in Malaysia which links to the majority of banks for e-debit transactions. Prior to being granted the status, all e-debit transactions carried out on MobilityOne's terminals were conducted through a third party withthe TPA status, invoking additional commission charges. Hussian A. Rahaman, Chief Executive Officer of MobilityOne, commented: "Third party acquirer status with MEPS will not only add to the bottom line in terms of a lower commission charges as compared to the past but also provides uswith a greater flexibility for our business operations and direction. "We are also delighted to have been awarded the contract with TMIC and the business partnership with Finnet. International expansion is a key part of our growth strategy as we look to take advantage of our technological competitive strengths." For further information, please contact: MobilityOne +6 03 6286 1999Hussian A. Rahman, CEO www.mobilityone.com.myhar@mobilityone.com.mySeah Boon Chin, Corporate Finance Directordominic@mobilityone.com.my HB Corporate +44 (0)20 7510 8600Luke Cairns www.hbcorporate.co.uk Threadneedle Communications +44 (0) 20 7936 9605Graham HerringJosh Royston Ends About MobilityOne MobilityOne is the holding company of an established group of companies("Group") in the business of providing e-commerce infrastructure paymentsolutions and platforms through their proprietary technology solutions, whichare marketed under the brands MoCSTM and ABOSSETM. The Group has developed an end-to-end e-commerce solution which connects variousservice providers across several industries such as banking, telecommunicationand transportation through multiple distribution devices such as EDC terminals,short messaging services, Automated Teller Machine, and Internet banking. The group's technology platform is flexible, scalable and has been designed tofacilitate cash, debit card and credit card transactions (according to thedevice) from multiple devices while controlling and monitoring the distributionof different products and services. For more information, please refer to our website at www.mobilityone.com.my About Finnet Finnet is a transaction management company primarily focus on switching andshared transactions settlement for all business entities, especially financialinstitutions. It also provides commercial and legal framework that developsnetwork sharing between banks, utility companies, payers, card issuers,collecting agents, merchants, as well as technical platform that works best forall parties involved. For more information, please refer to our website at www.finnet-indonesia.com This information is provided by RNS The company news service from the London Stock Exchange