UnrealMind to be listed by mid-2004


Mobile content and service provider UnrealMind Interactive Bhd, which is expected to be listed on the Mesdaq Market in mid-2004, is banking on the increase in mobile users, both locally and abroad, to boost its earnings.

Its chief executive officer Tan Swee Yeong tells FinancialDaily that mobile users in Malaysia is expected to grow by 12% to 11.11 million in 2004 from the current 9.92 million.

In the region, there are about 15 million mobile users in Indonesia, 5 million in Vietnam and 130,000 in Brunei.

Tan says mobile users here are able to access the company’s entertainment and lifestyle, content and services via DiGi Telecommunications Sdn Bhd, Celcom (M) Bhd, TM Cellular Sdn Bhd and Maxis Mobile Sdn Bhd.

The company has another 60,000 registered and 1.6 million non-registered users of its own mobile lifestyle portal, ‘Shabox’, which can access similar content provided by UnrealMind.

Tan says that the company would export its current offerings to GSM network operators in Brunei, Indonesia and Vietnam through local partners which comprised of Hakats Sdn Bhd, PT Hyperlab Technologies and VASC Software and Media respectively.
“We expect our overseas venture to contribute between 10% and 15% of our revenue this year,” Tan says, adding that thecontribution is expected to rise based on the untapped growing population.

He said the company, which was incorporated in late 2001, posted a net profit of RM3.15 million and a turnover of RM 10.17 million for the financial year ended Dec31, 2003.

He expects UnrealMind to be listed by July this year and is now pending approval from the authorities.