Source - RNS
RNS Number : 7800K
MySQUAR Limited
26 September 2016

MySQUAR Limited ("MySQUAR" or the "Company")


MySQUAR updates re gaming and other activities


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 delighted to announce that its gaming business has continued to achieve very encouraging results after the release of the game Hawk Hero on 12 September 2016. The Company is also providing an update in respect of its planned mobile payments and VoIP businesses which have also made encouraging progress.


Mobile Games


Within ten days of release, Hawk Hero has generated an average daily revenue of approximately US$600 per day, gradually rising to a current high of US$917 on 21 September 2016. Hawk Hero is a role-playing game with many pay-to-use features that the Company expects will significantly increase revenue in the near future.


Further to the Company's announcement on 12 September 2016, MyFish's daily revenue has now risen to US$2,000-US$2,200 during the week commencing 19 September 2016.


At the current rate, MySQUAR's released game titles collectively generate approximately US$3,000 of revenue per day.


Mobile payments and VoIP


Technical implementation work regarding the launch of the mobile payment services business has progressed well. MySQUAR is fully prepared to engage with its mobile payments partner, MyPAY, which  is currently completing compliance requirements and is expected to launch in upcoming months, as opposed to Q3, in line with new Myanmar mobile payments regulations.


MySQUAR is very pleased to congratulate MyPAY for winning the prestigious Mondato Award for Mobile Finance and Commerce Innovation in Emerging Asia.


MySQUAR is confident that its VoIP product is progressing according to plan. The MyPAY launch will mean additional avenues for people to pay for games and VoIP services, thereby attracting additional users.


Further updates on the progress of both businesses will be provided by the Company in due course.


Eric Schaer, CEO of MySQUAR, said: "The strong performance of our second major game is an exciting development and provides remarkable monetisation for such a young company in our field. Our plan to introduce a new game approximately every other month is well on course and we see considerable revenue growth going forward. We have also gained valuable understanding of the Myanmar mobile gaming market and are confident that many of the future games will be even better placed than their forerunners. In addition, I am very pleased with the preparation progress for mobile payment and VoIP services and we are looking forward to demonstrating to shareholders the economic synergies of the company's different businesses."



For further information:

MySQUAR Limited

Eric Schaer (Chief Executive)

Tel: +65 6818 6089

Pham Dang Hung (CFO)

SP Angel Corporate Finance LLP

Nominated Adviser

Tel:  +44 (0) 203 470 0470

Stuart Gledhill/Laura Harrison


Beaufort Securities Limited

Joint Broker

Jon Belliss/Elliot Hance


Mirabaud Securities LLP

Joint Broker

Edward Haig-Thomas/Peter Krens





Tel:  +44 (0) 207 382 8300




Tel: +44 (0)20 7878 3447


Public Relations

Damien McCrystal


Tel:  +44 (0) 7816 770 758

[email protected]




This information is provided by RNS
The company news service from the London Stock Exchange