|Project Title||A travel phone platform with in house mobile App that provide local connectivity and travel guide for all travelers|
|Current Status||Revenue Generating, Pre-Profit|
|Funding Required||RM1,000,001 to RM2,000,000|
|Description||LocalPhone (LP) with tag line “Travel.Connect” is a one-stop mobile solution that provides the tourists who are visiting Malaysia a simplest and most convenient way to stay connected within Malaysia and their beloved ones abroad. LP is a revolution to mobile connectivity for tourists as it integrates local hospitality and local cultural experience through a user-friendly mobile application.|
|Business Opportunity||Problems that exist in the market:
High roaming charges – Users will receive a high bill charge when they return to their home land if they accidentally turn on data roaming. Their account will get barred once reach credit limit even though the bill is not out yet, this will cause hassles to them.
Inflexible travel/prepaid Sim packages – Data plan for prepaid Sim that exist in the market is 1 day, 1 week or 1 month. Customers have to buy 1-week plan even they will only stay for 4 days. The balance of credit and data will be burned. This will waste traveler’s money. Besides, prepaid sim calls and data rate are more expensive and only come with limited access.
Pocket Wi-Fi that is unable to make calls -Users who rent pocket Wi-Fi will face problems if they wanted to book Grab/Uber because they don’t have a local number to contact with each other. Normally drivers will not call their International number. In addition, users also can’t manage to call any local numbers for inquiry especially fixed line numbers.
On 2016, total arrival to Malaysia is 26.8 million, if we only targeting 0.06%, we will have potential customers of 16,000. It is a very huge market as our government is targeting total 31 million arrival on this 2017.
|Revenue / Business Model||Monthly subscription fee from Agent Partners
Advertising fee (From Local Phone & Agent)
We are selling theme park E-tickets through our Mobile App
We are selling souvenir and Local Food through our Mobile App
We are selling discount voucher through our Mobile App
Merchant listing fee
We are collecting big data and customer behavior
when our number is significant we can talk to Uber/Grab for referral fee
|Management Team||CEO – Mr. Yeoh Meng Lai
Telecommunication Industry for 11 years
Sales & Marketing experience for 12 years
Top Performance team awards in many large events
Capital mechanism experience
COO – Mr. Oscar Ong
CFO – Mr. Khor Joo Yong
|Company Background||We incorporated last November 2016, investment up to date is RM250000, we currently have 1 Agent and coming soon 3 potential Agents that will subscribe with us and on going discussion on progress.|
|Funding Milestone||We need RM2 million funding, and the usage of funding will go to:
Smart phone purchase: RM707,870 (35%)
Marketing and others: RM516,745 (26%)
Management expense: RM447,968 (22%)
Mobile Apps development: RM200,000 (10%)
Telco expenses: RM127,417 (6%)
With this fund, we target to reach 1400 subscriber per month and a total of 16,800 subscribers in a year and company valuation of RM20 million.
|% Equity Allocation||10%|
|Risks and Mitigation||Our risk is customer may feel that our smartphone is slow performance, network slow and there is no agent will subscribe our service. To mitigate these risks, we plan to invest on a higher spec smartphone, research the best operator network in Agents located area. Also we will create a win-win situation for all our agents where we allowed them to gain revenue from our mobile app. With this, agent will continue support us because our product is no more a costing for them but it is a tool to generate revenue.|
|Exit Strategies||We plan to IPO on July 2022.|
|Company Name||LOCALPHONE GLOBAL CONNECT SDN BHD|
|Business Address||B-03-16 GATEWAY KIARAMAS, NO. 1, JLN DESA KIARA, MON’T KIARA 50480 KUALA LUMPUR|
|Contact Person||Mr. Yeoh Meng Lai|