On December 11, 2018, Flexiroam Limited announced that they have entered into a major agreement with Malaysia Airlines Berhad (MAS) for the inflight distribution up to total 6 million of Flexiroam’s ConnectSIM to foreign passengers of MAS. The deal, effective January 2019, will hold key importance throughout the year.
This deal looks quite an interesting one for Flexiroam Limited (ASX: FRX), which is a mobile network operator. It provides affordable voice and data roaming service to international travelers. Founded in 2011 and listed in 2015, It aims to offer efficient data connectivity across global territories. In February this year, the company announced free WhatsApp services to travelers for a year. As per the latest announcement of mid-November, achieved great heights of having established 150 distribution partners across the globe. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
Flexiroam’s ConnectSIM can be utilized by its users across the globe, in the form of a microchip, SIM card or e-SIM. By attaching it to a passenger’s SIM card allows the user to approach data roaming in over 140 Countries. It is offered across the Asian, European, American and African continents. The efficient roaming service has provided the world’s largest client based to the telecom giant.
The huge customer base of Malaysia Airlines Berhad, Malaysia based major airline operator, combined with a range of code-sharing partners will provide Flexiroam access to millions of international travelers. Undoubtedly, this partnership with the premier airline is bound to result in positive business results for Flexiroam.
As stated by Flexiroam’s MD Jef Ong, their first inflight collaboration deal with the premier airline will expand their foothold in the telecommunications space and grow their customer base. With partners across travel agencies, airport retail stores, and major airlines, FLEXIROAM is anticipated to secure its marketplace and reputation in the near term. The company’s long-term vision reflects its continuous efforts to extend its reach into newer geographies, significantly expanding the subscribers, offering affordable and convenient data roaming service. In this regard, it is worth keeping a close eye over the company’s stock.
In the last six months, the price of the company has shown a negative return of 56.92 percent as on 17 October 2018 and 18.33 percent down over the past one month. Flexiroam Limited’s shares last traded at $0.055 with a market capitalization of $10.91 million as on 11 December 2018. The shares were up 12.3% after market close on December 11, 2018.
The company has Earnings per share of -0.023 AUD. As per ASX, the total volume of shares on a daily basis in terms of trading has been around 278,000. This telecommunication services’ provider has a negative earnings per share and is yet to set a strong footprint in terms of financials. The group though indicated for significant growth in FY2019 given the expanding user base across more than 190 countries. The group aims to take benefit of the data roaming market that is expected to go up significantly by 2020. Many investors are eyeing the stock looking at its potential going forward.
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