MCOM captures Cambodian market in digital payment solutions

At MCOM’s listing ceremony on the LEAP Market of Bursa Malaysia recently.

TECHNOLOGY is changing how we work, play and live our everyday lives.

“To survive and thrive in today’s ever-changing world, businesses have to be fast and fearless,” said Ho Ki Mun, MCOM Holding Berhad Chief Executive Officer.

Speaking to The Petri Dish at MCOM’s debutant on Bursa Malaysia recently, Ho said in regard to technology it is important to stay ahead of the curve.

Established in 2005, MCOM started off by developing content for subscription-based games for mobile users.

The company has since evolved from a content provider into a mobile advertising solutions provider and recently debuted on LEAP Market of Bursa Malaysia.

According to Ho, the listing will enable the company greater financial flexibility to pursue future growth and to increase market awareness for its services and expand its customer base.

Ho said some of the proceedings will be used to enhance and localise MCOM’s digital marketing solutions in Cambodia while upgrading its mobile platform.

MCOM was awarded a 30-year ISP licence and frequency licence by the Cambodian telecommunications regulator in 2016.

“With the upgrade of our mobile advertising platform, we are able to enhance the features of our mobile advertising towards a fully automated platform which allows fully automated interface between advertisers and publishers,” said Ho, adding that the company set up the data and network operating centre in Phnom Penh in June 2018.

“We started offering internet services in Cambodia in 2018 to complement our existing digital marketing solutions.

“We believe this plan will not only increase our revenue stream, but also contribute to the growth of the internet services in Cambodia,” he added.

Meanwhile, MCOM group General Manager, David Ng said the company has leveraged on a fibre optic cable provider to roll out wired and wireless internet services.

“These internet services are complementary to our digital marketing solutions. Through the services we will be able to localise our digital marketing solutions to meet consumer needs in Cambodia based on the analysis of internet and mobile usage patterns in the country.”

Besides the internet services, Ng said MCOM intends to create a database of users through provision of free wifi and Cambodia business as lead generator to create an in-house database.

“Cambodia’s market is booming. Not many have tapped into this market’s database yet. So, this will expand our mobile advertising business,” adds Ng.

Under the listing exercise, MCOM raised RM5.28mil from the placement of 18.86 million shares at 28 sen per share.

About 54.9 per cent or RM2.9mil of the proceeds will go towards setting essential facilities to offer wired and wireless Internet services in Cambodia while RM880,000 will go towards enhancing the automation of its mobile advertising platform and infrastructure.

As an investee company of Malaysian Technology Development Corporation Sdn Bhd (MTDC), MCOM aims to be the leading digital marketing solutions provider in the region,” said Neil Foo, MCOM Chairman.

He added MTDC is instrumental not only as a funder but also as a business partner that provides market access and advisory services.

He said the funds from MTDC comes with consolidated solutions through strategic partnerships.

“We echo the same sentiment as MTDC on the importance of educating interested parties about capital knowledge. We had gone on national roadshows in five states with MTDC to educate about venture capital, private equity and initial public offering.

“This is very important to help people with ideas become entrepreneurs and small businesses grow into big companies,” said Neil.