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 pleased to announce it has signed a Memorandum of Understanding (MoU) with Sealand Capital Galaxy Limited (“Sealand”), a company listed on the London Stock Exchange (stock ticker: SCGL).
To enter into a partnership for the mobile games of MySQUAR to be distributed under Sealand’s (through its subsidiaries) licence agreement on the Huawei inTouch platform and for Sealand’s mobile games to be distributed in Myanmar through the MySQUAR platform. Huawei is the third largest smartphone provider in the Myanmar market which is the fastest growing in Asia. Details of the partnership shall be finalised within the next 60 days.
Sealand makes investments and acquisitions in the information technology and social media sectors in the APAC (Asia-Pacific) region, with a particular focus on mobile gaming and mobile payment companies. Sealand, through its subsidiaries, has agreements in place with Huawei to distribute mobile games in Asia and with WeChat Pay to provide mobile payment services to the messaging app platform in Hong Kong. Sealand recently acquired a majority stake in Rightyoo, a mobile game development company. Sealand and MySQUAR are in discussions to distribute Rightyoo games through the MySQUAR gaming platform in Myanmar.
Eric Schaer, CEO of MySQUAR, said: “One of our key targets this year is to build new partnerships and achieve higher levels of monetisation. MySQUAR is excited to enter into this partnership and have the opportunity to expand its mobile game distribution. MySQUAR is constantly looking for the best mobile games to release in Myanmar. This proposed strategic partnership with Sealand will provide access to some of the best games in the market.”
“Sealand actively monitors opportunities in Southeast Asia and we are eager to enter the fastest growing market in the region, Myanmar, for mobile gaming and payments,” said Nelson Law, Chairman of Sealand Capital Galaxy Limited. “We hope to leverage MySQUAR’s first place position in the Myanmar mobile gaming market with millions of downloads and its partnership with MyPay Limited, to offer RightYoo’s gaming content through MySQUAR in Myanmar.”
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.
By leveraging its first mover advantage, MySQUAR has a unique position from which to build a dynamic, innovative and interactive social media platform. MySQUAR is committed to innovating the social media, entertainment and gaming space and is focused on securing new users, maintaining user loyalty, and ultimately realising value for its shareholders by becoming the social network of choice in Myanmar.
MySQUAR‘s vision is centered on enhancing our lifestyle platform; product development focuses on building programmes and apps which use localised content and customised services that cater to all aspects of life.
The Company has identified a number of opportunities through which it can monetise including:
1. Digital Goods – in-app purchases and paid for premium features
2. Mobile app development services
3. VOIP service
4. Advertising, Partnership and Co-branding
5. Payment services
6. Social media intelligence
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