17th May 2006 10:54
e-pay Asia Limited17 May 2006 Shell partnership accelerates e-pay's growth in$5 billion pre paid petrol market Sydney, 17th May 2006: e-pay Asia Limited ("the Company") today announced thatit has commenced offering prepaid petrol top up to diesel users at more than1,000 petrol stations across Malaysia following its landmark partnerships withShell, and Petronas, Malaysia's national petroleum company. The Company believes it is now well positioned to become a significant providerof prepaid petrol in the South East Asian region capitalising on its success inthe region as the largest supplier of prepaid mobile top up services industry.This development is in line with e pay's strategy of fully utilising itsterminal network in order to sell additional services. Under the terms of its major supply agreement, e-pay Asia will receive creditterms allowing the company to sell prepaid petrol top up on consignment. Thecompany's ability to collect payments from the consumer before paying for thegoods is expected to boost its first mover advantage in securing a leadingmarket. e-pay's Managing Director, Mr Simon Loh said: "e-pay Asia's foray into theprepaid petrol top up business would be the most significant event since ourinception. In 2005, Malaysia's 11 million motorists spend a total of A$5 billionon gasoline (including petrol, gas and diesel) compared to a national spend ofA$3 billion on mobile telecommunications services." "This business has already begun generating positive cash flow and is growingrapidly as we roll out the service to more petrol stations. The growth intransaction volumes and average revenue per transaction has exceeded ourexpectations. We believe that the petrol top up business will become one ofe-pay Asia's major sources of earnings in a relatively short period." For more information: Shane Dolan Director Biddicks London, United Kingdom Tel:+44 207 448 1000 [email protected] About e-pay Asia e-pay Asia Limited ("e-pay "), dual listed on Australia Stock Exchange ( ASX:EPY) and the AIM segment of the London Stock Exchange (AIM:EPY), is the leadingprovider of electronic prepaid payments solutions, top up of prepaid mobileairtime and petrol top up for prepaid diesel users in South East Asia. e-payAsia is headquartered in Kuala Lumpur, Malaysia with its corporate officelocated in Sydney Australia. e-pay Asia has operations in Malaysia, Indonesia,Pakistan and Thailand with plans to expand into China, Vietnam, Singapore andPhilippines. For more information on e-pay Asia, please visit our websitewww.e-payasia.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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