News blog

e-pay Asia

  • BY: Andrew Hore |
  • POSTED: 11/07/2007 |

Mobile payments company e-pay Asia has warned that problems in Indonesia and start-up costs in China will hit this year’s figures. 

The Indonesian business traded poorly in the first half and is now expected to make a loss for the full year. The company has decided to enter the Chinese market via a joint venture with a local partner. This form of venture means that e-pay Asia won’t generate any software licence revenue from the Chinese operation. That will hit the 2007 revenues. The core Malaysian business is trading well. The shares slumped 2.75p to 6.75p by the early afternoon of the announcement.

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