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XOX, Thailand's TOT to explore Thai MVNO market

TheEdge Fri, Aug 09, 2019 09:38pm - 9 months ago

KUALA LUMPUR (Aug 9): XOX Bhd is teaming up with Thai state-owned telecommunications firm TOT PCL to explore the mobile virtual network operator (MVNO) market in Thailand, connecting in technicality and testing the mobile telecommunication systems, as well as other commercial operations.

In a bourse filing today, XOX said its wholly-owned subsidiary XOX Mobile Sdn Bhd had yesterday signed a Memorandum of Understanding (MoU) with TOT to record the MVNO partnership, cooperation and support between both parties.

The MoU will be terminated when a party ends it.

XOX said the MoU is expected to have positive contribution to the group's earnings per share and net assets per share should it be subsequently commercialised.
Shares of XOX closed half a sen or 10% lower at 4.5 sen today, with 597,900 shares done, valuing the company at RM49.16 million.

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