KUALA LUMPUR: There was no respite for mobile virtual network operator XOX Group Bhd which extended its losses in the afternoon session to hit a low of 58 sen on Friday, June 10.
At 3.25pm, it was down 22 sen to 58 sen. Its offer price was 80 sen. It was actively traded with 24.46 million shares done.
The FBM KLCI rose 7.1 points to 1,557.99. Turnover was 541.12 million shares valued at RM823.57 million. There were 348 gainers, 289 losers and 320 stocks unchanged.
The company reported that it made a net loss of RM1.66 million in the quarter ended March 31'' mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX's services.
It recorded revenue of RM12.68 million on the back of about 391,000 subscribers.
'During the current quarter XOX has also managed to record an average revenue from sales of recharge of approximately RM30 per user per month,' it said.
XOX chief executive officer, Ng Kok Heng, said the company would focus on the corporate sector with the introduction of the new convergence value-added services plan in the second half of this year.
Bernama quoted him saying the company planned to offer a more flexible mobile telecommunications services according to the corporate requirements, including a corporate subscription rates for all calls made by employees to customers during office hours.
"We believe that such initiatives would help enterprises reduce operating costs without compromising employee productivity," he said after the listing ceremony.
Ng said with the listing, it was timely for the company to expand its market reach by increasing subscriber base to 1.5 million by year-end. To date, XOX has more than 470,000 subscribers with eight service centres nationwide.
At 3.25pm, it was down 22 sen to 58 sen. Its offer price was 80 sen. It was actively traded with 24.46 million shares done.
The FBM KLCI rose 7.1 points to 1,557.99. Turnover was 541.12 million shares valued at RM823.57 million. There were 348 gainers, 289 losers and 320 stocks unchanged.
The company reported that it made a net loss of RM1.66 million in the quarter ended March 31'' mainly due to the selling and distribution expenses which were necessary in creating brand awareness for XOX's services.
It recorded revenue of RM12.68 million on the back of about 391,000 subscribers.
'During the current quarter XOX has also managed to record an average revenue from sales of recharge of approximately RM30 per user per month,' it said.
XOX chief executive officer, Ng Kok Heng, said the company would focus on the corporate sector with the introduction of the new convergence value-added services plan in the second half of this year.
Bernama quoted him saying the company planned to offer a more flexible mobile telecommunications services according to the corporate requirements, including a corporate subscription rates for all calls made by employees to customers during office hours.
"We believe that such initiatives would help enterprises reduce operating costs without compromising employee productivity," he said after the listing ceremony.
Ng said with the listing, it was timely for the company to expand its market reach by increasing subscriber base to 1.5 million by year-end. To date, XOX has more than 470,000 subscribers with eight service centres nationwide.
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