Nextnation Units Buy Indonesian Subsidiaries

Nextnation Communication Bhd’s unit Godynamic Investments Ltd has subscribed for an 84% stake each in Indonesian IT-based companies, PT Flower Star Media and PT Semesta Tirta Antara Raya, for a total of 4.87 billion ruppiah (RM1.95 million).

In a statement on Sept 6, Nextnation said Godynamic had subscribed 252,000 ordinary shares of 9,345 ruppiah (RM3.74) each at par value in PT Flower for 2.35 billion ruppiah (RM943,762).

For PT Semesta, it said Godynamic had subscribed 25,200 ordinary shares of 100,000 ruppiah each (RM40.07) in the company at par value for 2.52 billion ruppiahs (RM1 million).

Nextnation said the principal activities of PT Flower are content aggregation, application development and provision of information technology service while PT Semesta conducts research and development in wireless information technology and provision of information technology consultancy services.

About Nextnation

Nextnation‚ 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.