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XOX partners telco, Islamic charitable body to take Voopee to Indonesia |
KUALA LUMPUR (July 28): Virtual mobile network operator XOX Bhd is partnering an Indonesian telecommunication services company (telco) to take its Voopee mobile solution to Indonesia.
In a filing with Bursa Malaysia today, XOX said its wholly-owned subsidiary XOX Media Sdn Bhd has entered into a memorandum of understanding (MoU) with telco PT Inovasi Telematika Nusantara and Pengurus Besar Nahdlatul Ulama (PBNU) to conduct a study, with plans to deploy the Voopee solution under the Nahdlatul Ulama branding to be adopted by PBNU members.
PBNU is an Islamic charitable body funding schools and hospitals, as well as organising communities to help alleviate poverty.
XOX said the MoU will remain in force for six months or until a commercial agreement is entered between the parties.
"The MoU is not expected to have any material effects on the share capital and shareholding structure of the company. However, it is expected to have positive contribution to the earnings per share and net assets per share of the group should the MoU be subsequently commercialised," it added.
At 3.32pm, XOX shares were up 0.5 sen or 4.76% at 11 sen, with 525,200 shares traded, giving it a market capitalisation of RM89.44 million.
