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Red faces at AIM as app developer MySquar powers down after key backer pulls the plug

An app maker that crashed off AIM last year has closed its doors after a key backer keeping it afloat pulled the plug. Indonesian payments company Achiko decided against buying former London-listed games app maker MySquar. Achiko had hoped to float in Switzerland and raise cash to acquire the firm — behind mobile games like […]

MySquar suspends mobile money unit, delists shares

Troubled Myanmar app company MySquar temporarily closed its mobile money operation and social media app MyMingalarbar, in addition to making multiple redundancies, as its cash position hit critical levels. In a statement the company said cuts were an attempt to conserve remaining funds, adding senior staff had not been paid for two-to-three months. Its shares […]

Chairman Piers Pottinger quits as Myanmar-focused apps developer MySQUAR probes ‘£1 million irregularity’

Piers Pottinger has stepped down as chairman at AIM-listed MySQUAR amid an ongoing internal inquiry into “financial irregularities” at the app developer. Pottinger had been leading the inquiry but he believes interim chief executive Stephen Chong and Stephen Austin, a non-executive director, are better placed to find out what went wrong. Pottinger — formerly of […]

MYSQUAR agrees to sell advertising on WeChat in Myanmar

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 pleased to announce it has entered into a non-exclusive agreement to sell and promote WeChat advertising products and services in Myanmar (“WeChat Agreement”). The WeChat Agreement relates to advertisements from Myanmar based […]

Mysquare : AIM-listed MySQUAR acquires MyPAY Myanmar, raises $2.9m to fund deal

AIM-listed MySQUAR Ltd, a Myanmar-language social media, entertainment and payment platform, has announced the acquisition of mobile payment operator MyPAY Myanmar Ltd, for a consideration of 2 million ($2.6 million), according to its filing on the London Stock Exchange. MySQUAR simultaneously also announced raising 2.2 million ($2.9 million) through a convertible bond issue offering to […]

MySQUAR says Singapore money transfer tests go well

MySQUAR Limited, the Myanmar-language mobile apps developer, has made a giant stride toward launching its cross-border money transfer (remittance) service. Last week beta remittance tests were conducted and successfully completed between MySQUAR and its partners along the Singapore to Myanmar remittance corridor. The money transfer service is expected to undergo a “soft launch” next month […]

MOBILE MONEY PLATFORM LAUNCH

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, has entered into agreements with Uber Remit Ltd (“Uber Remit”), a New Zealand incorporated cross-border remittance and mobile money transfer provider, and Internet Wallet Myanmar Limited, a Myanmar company trading as OK Dollar […]

Myanmar’s telco revolution opens new chapter

YANGON — Myanmar is three years into a telecoms boom that has changed the physical and technological landscape of the country with unparalleled speed. Since the sector was opened to foreign competition in 2014, thousands of mobile towers have sprung up around the country and more than 30,000km of fiber cable has been connected. Mobile […]

MySQUAR jumps as it links up with Myanmar Railways to provide WiFi and digital content services on trains

“We anticipate this partnership could have vast long-term potential as the railways are improved and railway use is projected to multiply over the coming years as roads become more congested” Shares in MySQUAR Limited (LON:MYSQ) jumped at the opening bell on Thursday after the Myanmar-language social media, entertainment and payment platform signed a deal that […]

MyCHAT to get mobile payments

Local chat app MyCHAT is moving toward allowing mobile payment on its platform. Its parent, MySQUAR, announced yesterday it has linked up with MyPAY, a new company specialising in solving Myanmar’s mobile payment problems. Under a five-year agreement, MyPAY’s mobile payment services will become a feature of MyCHAT, according to a company statement. The link-up […]