KUALA LUMPUR: Mobile virtual network operator (MVNO) XOX Bhd is confident it can grow its subscriber base 100 per cent this year to hit the two million mark.
XOX Group managing director Datuk Eddie Chai said he was confident that the company, which saw subscriber and revenue growth more than double in 2015, can meet its subscribers.
He said the company's customer-base, made up of mostly young Malaysian Chinese, are heavy data users, and the company will allocate between RM6 million to RM10 million in capital expenditure to spruce up in-house software systems to better serve the customers.
"We will be upgrading and improving our billing systems and licenses to ensure that our customers will have stable and smooth connections," Chai said.
The CAPEX will be raised through a mixture of rights issue and internally generated funds, he said today.
Chai was speaking at the media announcement of its partnership with concert promoter Galaxy Group to offer discounts and contest tickets to a number of Chinese and South Korean artistes' concerts in Malaysia for XOX's customers.
Chai said that the partnership was strategic for the brand and it rewards the subscriber-base with access to popular entertainment acts.
The company confirmed that it will be partnering Galaxy in promoting concerts by Yip Wai Sing (April 9), Leo Ku's World Tour (April 23), Korean singer Rain (May 21), and Hong Kong canto pop singer Sammi Cheng (May 27 & 28).
XOX currently rides on Celcom Axiata's infrastructure to provide its services to its subscribers.