Update in relation to Sincere Acres Sdn Bhd
Summary by AI BETAClose X
9 September 2026
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Update in relation to Sincere Acres Sdn Bhd
MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, provides the following update in relation to Sincere Acres Sdn Bhd ("Sincere").
On 4 October 2023, the Company announced, amongst other matters, that MobilityOne Sdn Bhd ("M1 Malaysia"), the Group's wholly-owned operating subsidiary in Malaysia, had completed the acquisition of a 49% equity interest in Sincere for a cash consideration of RM30,000,000. It was further announced that whilst the first tranche, representing RM2.0 million, had been paid by M1 Malaysia to United Flagship Development Sdn Bhd (the "Vendor"), the second tranche, representing the balance of RM28.0 million (the "Second Tranche"), was required to be paid by M1 Malaysia by 8 March 2024 (the "Second Tranche Payment Date").
The Second Tranche Payment Date has been subject to several prior extensions, as announced by the Company most recently on 1 September 2026.
On 7 September 2026, the Vendor agreed with M1 Malaysia to amend the Second Tranche Payment Date for payment of the Second Tranche to the earlier of: (i) 31 October 2026; or (ii) 7 days after the receipt of the sale proceeds following the completion of the merger exercise between Technology & Telecommunication Acquisition Corporation and Super Apps Holdings Sdn Bhd ("Super Apps"), which includes M1 Malaysia's disposal of 60% shareholding in OneShop Retail Sdn Bhd and joint venture with Super Apps ("Merger Exercise").
Details of the Merger Exercise was most recently announced by the Company on 27 August 2026.
All other terms of the acquisition of Sincere are expected to remain unchanged.
For further information, please contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited
(Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas / Vivek Bhardwaj
About the Group:
MobilityOne is one of the leading virtual distributors of mobile prepaid reload and bill payment services in Malaysia. With connections to various service providers across industries such as banking, telecommunications, utilities, government agencies, and transportation, the Group operates through multiple distribution channels including mobile wallets, e-commerce sites, EDC terminals, automated teller machines, kiosks, and internet & mobile banking. Holding licenses in regulated spaces including acquiring, e-money, remittance and lending, the Group offers a range of services to the market, including wallet, internet, and terminal-based payment services, white label e-money, remittance, lending, and custom fintech ecosystems for communities. The Group's flexible, scalable technology platform enables cash, debit card, and credit card transactions from multiple devices while providing robust control and monitoring of product and service distribution.
For more information, refer to our website at www.mobilityone.com.my
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