KUALA LUMPUR: Mobile solutions services provider Sedania Innovation Bhd wants to expand its proprietary airtime sharing (ATS) platform market in Southeast Asia, particularly to Indonesia due to its large population, and is currently in talks with regional players to bring about the regional expansion.
Sedania managing director Datuk Azrin Mohd Noor said the company is in talks with several regional mobile network operators (MNOs) and mobile virtual network operators (MVNOs).
“When we created the ATS platform, our addressable market was all mobile phone users. It doesn’t matter which MNO or MVNO you subscribe to, or which country you reside or live in.
“In Malaysia, we work with Celcom and Maxis to enable their customers. In Bangladesh, we enable them through Robi. Of course, we are talking to a lot of other MNOs and MVNOs. Once it’s fi nalised, we will announce it,” Azrin told a press conference after the company’s prospectus launch yesterday.
He said Sedania’s current focus is very much on improving its presence in Malaysia and Bangladesh. Currently, the company operates in Malaysia through its partnership
with Celcom Axiata Bhd, which has just renewed its contract with Sedania for a fi ve-year period, and Maxis Bhd (fundamental: 1.15; valuation: 1.1).
In Bangladesh, Sedania is collaborating with Robi Axiata Ltd, a joint venture between Axiata Group Bhd (fundamental: 0.85; valuation: 1.1) and NTT DoCoMo Inc.
Azrin said the Bangladeshi market is still in its infancy, which offers huge upside potential for the company.
He added that the company will be intensifying its marketing activities in Bangladesh to capture a bigger piece of the market, and is talking to specialist agencies to widen its footprint in the country.
Sedania is tentatively slated for listing on Bursa Malaysia’s ACE Market on June 29, and is targeting to raise RM19.6 million from its initial public off ering (IPO) of 51.5 million new shares.
Out of the total proceeds, RM6.8 million will be allocated for working capital, RM4.1 million for marketing expenses and RM4 million for capital expenditure. Meanwhile, RM2.5 million has been earmarked for research and development expenses, and RM2.2 million to cover its listing expenses.
“Sedania’s upcoming IPO will elevate the group’s profile, enhance the group’s ATS platform, introduce additional value-added services in the pipeline, and fi nance our regional expansion as well,” said Azrin.
This article first appeared in The Edge Financial Daily, on June 10, 2015.