Further to recent press speculation relating to Tencent Holdings Limited and other regional internet focused businesses, 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, notes that it has held discussions in relation to commercial and investment opportunities with various regional participants in its area of business as would be expected.
As noted in the Company’s announcement of 3 January 2018, MYSQ confirms that while it has received an approach from another organisation which may or may not lead to a takeover offer, there can be no certainty that an offer will be made for the Company or as to the terms on which any offer might be made.
The Company does not intend to make further comment in respect of press speculation in relation to these matters however further announcements will be made in due course as appropriate and in accordance with the Company’s regulatory responsibilities.
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 centred 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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