Clarification On The Announcement In Relation To The Press Release - Unified Communications Launches Cambodia's First Ring Back Tone For Mobitel
BackApr 07, 2004Further to the announcement made on 6 April 2004 (the "Announcement") in relation to the Press Release - Unified Communications Launches Cambodia's First Ring Back Tone for Mobitel (the "Project"), the Board of Directors of Unified Communications Holdings Limited ("UCHL") wishes to clarify that the Project is largely based on revenue sharing programme and is one of UCHL's business strategies to seek recurring revenue streams.
Under this revenue sharing programme, revenue is pegged directly to the volume of transactions sent through Mobitel network. Unified Communications Pte Ltd ("UCPL"), a wholly owned subsidiary company of UCHL will share the revenue with Mobitel based on a pre-negotiated percentage pegged to the volume of transactions. Hence, the higher the volume of transactions, the higher the revenue to UCPL and therefore returns to the Group.
In this respect, the Project is expected to contribute positively to the Group's earnings for the year ending 31 December 2004. However, UCHL is unable to quantify the revenue and hence the materiality of the return of the Project at this juncture.