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HEADS OF TERMS AGREEMENT WITH ASIA E UNIVERSITY
March 30, 2015
SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces it has signed a heads of terms ("HoT") agreement with ASIA e University, to host its courses and deliver educational programmes to its global student population.
ASIA e University is an institution of higher learning established in Malaysia in 2007 under the Private Higher Educational Institutions Act 1996. The HoT will take effect from Monday 30th March 2015 and will be valid for a period of three years. Work has already commenced between the two organisations to prepare the platform for launch in early June 2015.
Under the terms of the HoT, SyQic will host and deliver educational material across the Company's online platforms in order to enhance the student learning experience on mobile devices.. ASIA e University will license the SyQic platforms to make its content, courses and certification available globally using the Company's mobile video streaming technology. The educational content on the Company's platforms will generate user "stickiness" and derive licensing revenue for the Company from a share of the University's certification revenue.
Jamal Hassim, CEO of SyQic, commented: “We are delighted to have agreed terms with one of the fastest growing graduate schools in Southeast Asia. In this period of the Malaysian presidency of the ASEAN Group of countries, the ASIA e University is an instrument for greater Asia wide cooperation and like SyQic is a catalyst in narrowing the digital divide among communities and nations. Together, we are ideally positioned to deliver educational content and a learning management system that is suitable to be delivered over mobile devices.”
Steve Elliff, Chief Financial Officerwww.syqic.com
Allenby Capital Limited
Alex Price / Jeremy PorterTel: +44 (0) 20 3328 5656
Walbrook, Financial PR and IR
Guy McDougallTel: +44 (0) 20 7933 8792
Notes to Editors:
SyQic is a fast 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 Singapore, Indonesia and Malaysia.
The Group launched its new Korean content service called "cool2vu" in Malaysia, Singapore and Indonesia in January 2015 streaming high demand Korean content utilising an advertising revenue model.
About ASIA e University
AeU, a flexible-mode international university, aspires to be a premier educational hub in promoting e-Learning initiatives in Asia. AeU was officially established in April 2007 and its establishment is an initiative of Malaysia, as a prime mover for e-education, with the support of the 31 Asia Cooperation Dialogue (ACD) member countries.