XOX Expands Its Indonesian Market
XOX Media Sdn Bhd, the wholly-owned subsidiary of XOX Berhad, Perkumpulan Nahdlatul Ulama (PBNU), EH Integrated Systems Sdn Bhd and PT Nusantara Digital Telekomunikasi entered into a joint venture agreement, the new company known as PT Nusantara Mobile Telecommunication, focusing in telecommunication and telecommunication services, mobile application services (Voopee) and E-Wallet services in Indonesia.
In November 2017, XOX Media Sdn Bhd and Nahdlatul Ulama (NU) jointly launched NU Mobile in Jakarta. NU Mobile application was developed on XOX’s proprietary Voopee SIM-less mobile solution.
NU is the largest independent Islamic organisation in the world, that is also a charitable body, funding schools and hospitals as well as organising communities to help alleviate poverty. NU has approximately 93 million members in Indonesia.
XOX Media will take up 40% stake in the PT Nusantara Mobile Telecommunication, Perkumpulan Nahdlatul Ulama at 20%, EH Integrated Systems Sdn Bhd at 15% and PT Nusantara Digital Telekomunikasi at 25%.
PT Nusantara Mobile Telecommunication is also in the process of applying the SIM card operator and e-money (e-wallet) licenses for Indonesian market.
Datuk Eddie Chai, Group Managing Director of XOX Berhad said that the 4 parties decided to form a joint venture company as it is a huge potential to participate in the digital economy in Indonesia.
“XOX Media is believed to be among the first Malaysian companies to provide its proprietary e-wallet solution to a market as large, and geographically distributed as Indonesia. With a population of 261 million, Indonesia is the 4th most populous country in the world. This new company will allow us to implement strategies to reach out to NU members as well as the rest of the Indonesian population in shortest time possible,” he added.
According to PBNU‘s General Chairman, Prof. Dr. KH. Said Aqil Siroj, NU Mobile is in-line with the Indonesian government’s 2020 Go Digital Vision campaign with the aim to boost the country’s digital economy.
“PBNU’s 93 million members make up almost a third of the population, and we want to prepare and equip them to embark on the digital economy,” he added.