MySQUAR Limited ("MySQUAR" or the "Company")
Unaudited Interim Results Ending 31 December 2017
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, announces its unaudited interim results for the six months ended 31 December 2017.
§ Revenue for the six months ended 31 December 2017 was USD 917,180 from mobile gaming and advertising
§ A news aggregator site called Mingalarbar Morning was launched in July 2017 and quickly gained traction. New features were added throughout the period including arcade games and a Q&A section
§ Launched three new mobile games including Land of Magic, Kywae En and Fish Hunter 3D KoTaNgar and added Nanbat Wingabar, a new mini lottery game to Lucky Wingabar
§ Additional premium features including paid sticker sets and dating packages were added to MyChat during the period
§ Completed integration with Ooredoo’s direct carrier billing services in September 2017
§ Registered users across all apps and games exceeded 20 million by 31 October 2017 and exceeded 22 million as of 31 December 2017.
§ Appointed Stephen Chong as COO, in November 2017
§ A cooperation agreement with Guangzhou Ruiyou Information Technologies Co., Ltd. (“Rightyoo”) was finalised on 11 December 2017, for MySQUAR’s games to be distributed on Huawei’s inTouch platform and for Rightyoo’s games to be distributed on MySQUAR’s platform
§ Released a new version of Land of Magic on 21 December 2017
Post-period end highlights
§ Released a new version of MyFish on 3 January 2018
§ A sticker store called BTree Studio was launched on Line with 8 sticker sets and the Apple store with 5 sticker sets in January 2018
§ A new mini card game called Lucky Bohn was added to Lucky Wingabar on 17 January 2018
§ A capital raise of £2.11 million was completed on 7 March 2018 through the issue of Convertible Bonds
§ Launched Wushu King, a strategy card game within the Wuxia martial arts world, on 15 March 2018
§ The rebranded Mingalarbar Morning and MyMingalarbar (MyChat) was released with a new and improved interface on 29 March 2018.
§ The Vietnam operations team is being restructured to streamline costs. Headcount is expected to be reduced by about 25% by April 2018
The results will shortly be available on the Company’s website at https://investors.mysquar.com/
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
For further information:
Eric Schaer (Chief Executive)
Tel: +65 6725 6388
Pham Dang Hung (CFO)
|SP Angel Corporate Finance LLP||Contact|
Nominated Adviser & Broker
Tel: +44 (0) 20 3470 0470
Tel: +44 (0) 7816 770 758
Read the Interim Results here