Introduction to MOBILE WALLET

Introduction

Mobile Wallet Sdn. Bhd. (MOBILE WALLET) was incorporated in 8th September 2004 by a team of dynamic and ambitious technopreneurs that excels in providing mobile commerce solutions.

Since the inception, MOBILE WALLET ("MW") has gained exponential business growth with the introduction of its mobile commerce technology, its unique marketing business plan and through successful recruitment of a group of enterprising and strong marketing force.
With the rapid evolvement of mobile technology, and the expanding base of mobile phone users, we at Mobile Wallet recognized and acknowledge the growth potentials in the mobile commerce industry.

Hence forth we strive to develop and build a solid suite of mobile commerce applications, at the same time developing solutions to facilitate and provide a secured, convenient, cost-saving and efficient business transaction module.

We call this integrated mobile commerce solution as Mobile Wallet.

This mobile technology will leverage on the use of mobile phones as the main tool for any daily mobile commerce transactions and facilities.

With a paid up capital of RM4,000,000.00 and an authorized share capital of RM5,000,000.00, MOBILE WALLET is confident and poised to pioneer the mobile commerce industry with high growth potentials. MOBILE WALLET will continue to invest heavily on research and development to realize the vision of the company.

This has gained the confidence and recognition from our investor, MAVCAP Biotech, which is a venture capitalist company under the auspices of the Malaysian Ministry of Finance. Hence, their equity participation has added strength, confidence and corporate recognition to our organization and corporate base.

In November 2006, Mobile Wallet Sdn. Bhd. has been granted MSC Malaysia status by MDec. MOBILE WALLET also obtained approval from Bank Negara Malaysia pursuant to Section 25(1) and in compliance with Section 5(3) of the Payment System Act 2003 (PAS). Bank Negara URL: http://www.bnm.gov.my/index.php?ch=103&pg=638

MOBILE WALLET current have more than 50,000 Agents, and more than 600,000 User-base, and are targeting towards 2,000,000 Agents and 3,000 Merchants by end of year 2007