MySQUAR Limited MySQUAR updates re gaming and other activities (7800K)
September 26 2016 - 1:01AM
UK Regulatory
TIDMMYSQ
RNS Number : 7800K
MySQUAR Limited
26 September 2016
MySQUAR Limited ("MySQUAR" or the "Company")
MySQUAR updates re gaming and other activities
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 delighted to announce that its gaming business has
continued to achieve very encouraging results after the release of
the game Hawk Hero on 12 September 2016. The Company is also
providing an update in respect of its planned mobile payments and
VoIP businesses which have also made encouraging progress.
Mobile Games
Within ten days of release, Hawk Hero has generated an average
daily revenue of approximately US$600 per day, gradually rising to
a current high of US$917 on 21 September 2016. Hawk Hero is a
role-playing game with many pay-to-use features that the Company
expects will significantly increase revenue in the near future.
Further to the Company's announcement on 12 September 2016,
MyFish's daily revenue has now risen to US$2,000-US$2,200 during
the week commencing 19 September 2016.
At the current rate, MySQUAR's released game titles collectively
generate approximately US$3,000 of revenue per day.
Mobile payments and VoIP
Technical implementation work regarding the launch of the mobile
payment services business has progressed well. MySQUAR is fully
prepared to engage with its mobile payments partner, MyPAY, which
is currently completing compliance requirements and is expected to
launch in upcoming months, as opposed to Q3, in line with new
Myanmar mobile payments regulations.
MySQUAR is very pleased to congratulate MyPAY for winning the
prestigious Mondato Award for Mobile Finance and Commerce
Innovation in Emerging Asia.
MySQUAR is confident that its VoIP product is progressing
according to plan. The MyPAY launch will mean additional avenues
for people to pay for games and VoIP services, thereby attracting
additional users.
Further updates on the progress of both businesses will be
provided by the Company in due course.
Eric Schaer, CEO of MySQUAR, said: "The strong performance of
our second major game is an exciting development and provides
remarkable monetisation for such a young company in our field. Our
plan to introduce a new game approximately every other month is
well on course and we see considerable revenue growth going
forward. We have also gained valuable understanding of the Myanmar
mobile gaming market and are confident that many of the future
games will be even better placed than their forerunners. In
addition, I am very pleased with the preparation progress for
mobile payment and VoIP services and we are looking forward to
demonstrating to shareholders the economic synergies of the
company's different businesses."
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
Harrison
Beaufort Securities Limited
Joint Broker Tel: +44 (0) 207
Jon Belliss/Elliot Hance 382 8300
Mirabaud Securities LLP
Joint Broker
Edward Haig-Thomas/Peter Tel: +44 (0)20
Krens 7878 3447
Public Relations Tel: +44 (0) 7816
Damien McCrystal 770 758
damien@mccrystal.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
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