UnrealMind: Net profit to grow by 30pc


Mobile content and service provider UnrealMind Interactive Bhd expects a 30 per cent growth in its net profit for the current financial year ending December 31.

Chief executive officer Tan Swee Yeong said the growth is in line with the Malaysian Exchange of Securities Dealing & Automated Quotation Bhd (Mesdaq)-bound company’s overseas expansion and the growing number of mobile phone subscribers globally.

“We expect to grow in tandem with the number of countries we will be launching our services in, and also the increasing number of mobile subscribers,” he told Business Times in Kuala Lumpur.

For its previous financial year, the company posted a net gain of RM3.1 million on the back of RM10.2 million in revenue compared to a net loss of RM213,000 on RM52,000 in earnings previously.

Started in 2001, UnrealMind is due for listing on Bursa Malaysia Bhd by early July. The company aims to raise RM10 million from the exercise which will see it issuing 12.5 million new shares of 10 sen each at 80 sen apiece.

Of the total, three million shares will be allocated for public subscription, 7.5 million will be privately-placed out and two million for employees and business associates.

The company’s core business is made up of two divisions, namely the mobile content and mobile services segments.

The mobile content arm develops mobile entertainment content such as music, graphics and games which are marketed through partnerships with telecommunication service providers.

The mobile services unit allows third-party companies access to an intergrated mobile platform for delivery, billing and administration of customized mobile content.

The company’s products include, among others, mobile games, screen savers, musical ringing tones and multimedia content.

Tan expressed optimism on the prospects of the telecommunications industry in view of the relatively low penetration rate of the mobile phone market in the Association of South-East Asian Nations region.

It is learnt that UnrealMind has access to about 31 million mobile phone subscribers through its partner mobile phone network operators in Malaysia, Indonesia, Vietnam and Brunei.

Tan said the company is poised for further expansion into other countries in the region and is also improving its product lines with new mobile content. End-users contribute about 90 per cent of the company’s business.