Receipt of PTNP Payment & UK GlobeTel Partnership

14 January 2015

SyQic plc

("SyQic" or the "Group" or the "Company")

Receipt of PTNP payment

Partnership with UK GlobeTel Ltd

SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, is pleased to announce that it has received the March and April payments from PT Nextnation Prisma ("PTNP"). In addition, SyQic also announces that it has signed an agreement with telecoms provider UK GlobeTel Ltd ("Globe UK") to launch a UK based co-branded version of its Filipino Yoonic OTT service.

Under this agreement, Globe UK's customers will be able to watch SyQic's live and on-demand channels from the Philippines via payment from their existing Globe account on a subscription based service. The agreement lasts for an initial period of one year and is renewable by both parties.

The Company confirms that the March and April 2014 payments from the Company's major Indonesian telco customer, PTNP totalled approximately RM3.0 million (£550,000), and the bulk of this was received prior to the Company's year end of 31 December 2014.

Jamal Hassim, CEO of SyQic, commented: "I am very pleased to confirm that the March and April 2014 PTNP payments have been received in full, in line with PTNP's previous undertaking that 2014 billings will be paid much more promptly. We anticipate that the May payment will be received shortly.

"Our core business continues to perform strongly and we continue to look for new opportunities to drive the Company forward. We are therefore delighted to have reached this agreement with Globe UK. More than six in ten digital consumers from Southeast Asia report watching TV content and movies via online sources such as video-on-demand, with the penetration of internet TV second highest in the Philippines (71%) (Nielsen). With the UK home to approximately 220,000 people from the Philippines*, we are confident that by having a co-branded product with the UK arm of a premier telco from the Philippines, we will be able to fast track the launch and initial take-up of this service."

UK GlobeTel Ltd is a subsidiary of Globe Telecoms Inc, the leading telecommunications company in the Philippines. Under the terms of the agreement, Globe UK undertake to provide the necessary technical integration and payment infrastructure to collect subscription revenue from the purchase of the Yoonic mobile content.

Ricardo Barcellos, GM of UK GlobeTel stated: "Globe UK is delighted to be partnering with SyQic UK Ltd to bring to our UK based Globe subscribers unbeatable value using SyQic's 'Yoonic' platform. Our customers will be able to watch Filipino live channels and on demand video whenever they want on their mobile phones. There is no better partner than SyQic to provide our consumers with such a wide range of Filipino TV programmes and movies. Access to the service will be through Globe UK and will be very affordable at GBP 5 for 30 days access."

*according to data from The Commission on Filipinos Overseas in 2012

For further information:

Notes to editors:

SyQic is afast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices. Incorporated in Jersey and headquartered in the UK, it has a significant service footprint in the Philippines, Indonesia and Malaysia. 

The Group has access to over 20,000 hours of premium video-on-demand content and International video content. This content is delivered through SyQic's platforms via a number of channels in the movies, drama, music, sports, news, lifestyle and general entertainment genres.

The Group has also recently launched its newly acquired Maaduu service in Indonesia and Malaysia, which streams high demand Korean content utilising an advertising revenue model.