Azrin (third left) and other directors of Sedania during its listing ceremony yesterday.
KUCHING: Sedania Innovator Bhd (Sedania) is riding on Axiata Group Bhd’s (Axiata) regional presence to enhance its growth.
This was on the back of Sedania’s successful listing on Bursa Malaysia’s ACE Market yesterday, making its debut at 40 sen per share which is a two sen premium over the issue price of 38 sen.
Datuk Azrin Mohd Noor, Sedania’s managing director revealed that the Group also recently signed a five-year renewal contract with Celcom Axiata Bhd (Celcom) that extends our partnership till 2020.
“We are certainly elated by this, as the multiple renewals since 2004 indicate the compelling proposition and valuable services provided by our airtime sharing platform to the subscribers of partner MNOs,” he said during Sedania’s listing yesterday.
Azrin was buoyant on the group’s prospects, adding that Sedania’s proprietary ATS platform is capable of processing 223 transactions per second.
“Just as we have grown our transaction volume from a daily average of 268,000 in 2011 to 324,000 in 2014, our marketing efforts with our MNO partners are poised to propel us onto a higher level of transaction volume, which would drive our financial performance going forward.
“With our business model directly correlated to transaction volume, we would hope for investors to value Sedania based on the number of transactions, as well as the number of MNO partners who help their subscribers access our ATS platform, to more accurately reflect and appreciate our future potential.”
The research arm of Kenanga Investment Bank Bhd (Kenanga Research) yesterday said Sedania is leveraging on Axiata’s subsidiary Celcom network to further enhance its airtime sharing (ATS) platform business.
The research firm believed Sedania’s strong relationship with Celcom over the past 10 years will enable the company to expand its services into the Bangladesh market via Robi Axiata Ltd (Robi Axiata), which is 99 per cent owned by Axiata. With this, the group has a captive market of more than 50 million mobile subscribers across Malaysia and Bangladesh.
The research firm expects the huge young population throughout the country to provide vast potential for digital contents to be delivered over the Internet or mobile, thus providing more businesses to Sedania.
Growing individual income as well as more attractive products or packages lauching could provide new growth opportunities for mobile content and solutions’ players for instance like Sedania in Bangladesh.
Additionally, Kenanga Research said Sedania has identified Indonesia and countries in Indochina region as opportunities to grow its business in the future.
The company’s penetration into new markets will be carried out either through direct partnership with the mobile network operators (MNOs) or third party partnerships with local companies.
In Indonesia, it believed that there is a strong likelihood for Sedania to partner with Axiata’s Indonesian unit, PT XL Axiata Tbk (XL Axiata), which has a subscriber base of 52.1 million people to explore the Indonesian market.
On another note, Kenanga Research said Sedania has identified niches in the telecommunication industry that can be improved to enhance the overall mobile user’s experience.
The research firm pointed out the products developed by Sedania are characterised by ease of usage, thus provides the group an edge over its competitors and other credit transferring services.
Sedania’s ATS solutions were developed for the purpose of providing users with simple solution for the reloading of airtime credit compared to conventional methods.
Apart from that, Kenanga Research said besides providing the ATS services, Sedania intends to introduce a few new innovative services over the next two years to gain more subscriptions.
It added those new services include the Green Billing mobile application (a centralised electronic billing depository) that enables users to consolidate and make payments for multiple bills such as utilities and banking services and enhanced ShareShare mobile application, a centralised platform that allows users to conduct voice, network and data sharing.