| Nextnation signs agreement with Saudi Arabia’s Tawasul Telecom |
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KUALA LUMPUR - APRIL 13, 2007 - Nextnation Communication Berhad, through its wholly-owned subsidiary, Usape Nelson Wireless Sdn. Bhd. (“Usape”), has signed a content provider agreement with Tawasul Communication Co., LLC (“Tawasul”), a subsidiary of Tawasul Telecom Co. in a collaboration for research and development, the provision of Internet and wireless technologies and wireless value added services, and related software. This content provider agreement with the Saudi Arabia company marks Nextnation’s venture into the Middle East market since signing the Memorandum of Understanding. The agreement was signed by Nextnation’s Managing Director and Group Chief Executive Officer Mr. Tey Por Yee and Tawsul’s General Manager, Mr. Ibrahim Al-Kharboush. “The Middle East is still very much in the middle of the mobile boom and the market is dominated by high-end devices and users. There is strong demand for localized content and applications and I am pleased that Tawasul recognises our proven track record in the Asia Pacific region, and has chosen to partner us to fulfil the growing demand for wireless value-added services,” said Mr. Tey. Tawasul is involved in the provision of telecommunication, Internet and mobile valued-added services in the Middle East countries such as Saudi Arabia, Iraq, Kuwait, Palestine, Jordan and Lebanon. Though its mobile telecommunication subsidiary, Tawasul will distribute Usape’s mobile content and services to its customers in the Middle East in a revenue-sharing model. According to the Riyadh-based Economics Studies House, Saudi Arabia is widely recognized as the largest telecommunications market in the Middle East region, with growth in this sector currently estimated at about 30 % per annum. The country’s mobile phone penetration rate is expected to grow to 60% by 2014, with over 20 million subscribers. “Market expansion via strategic partnerships is a key business initiative for Nextnation and we are pleased to be able to form this strategic alliance with Tawasul. I am confident that this agreement will pave the way for us to make a strong presence in the Middle East region,” added Mr. Tey. About Tawasul Telecom Co. LLC:Tawasul Telecom, a registered company in Saudi Arabia, is involved in provision of telecommunication, Internet and mobile value-added services in the Middle East countries including Saudi Arabia, Iraq, Kuwait, Palestine, Jordan and Lebanon. Additional news and information about the company is available at www.tawasulcom.com. About Nextnation Communication Berhad Nextnation Communication‚ a mobile application service provider‚ enables businesses and individuals to access‚ connect‚ and transact across today's complex global mobile networks. Its core product MINDCEP™ Platform is a mobile multimedia communication platform‚ facilitating and enabling mobile data transmission worldwide using WAP‚ MMS‚ SMS and Java technologies. MINDCEP™ is connected to some of the largest premium messaging networks in the world in order to offer a broad range of services from content distribution to mobile m-commerce and place the company at the forefront of this rapidly growing messaging market. Additional news and information about the company is available at www.nextnationnet.com. |
