Mara Inc. ups stake in mobile operator XOX to 6.29%

KUALA LUMPUR (Feb 10): Mara Incorporated Sdn Bhd raised its shareholding to mobile phone operator XOX Bhd to 19
million shares or 6.29% after three recent acquisitions from the open market.
A filing with Bursa Malaysia showed Mara Inc acquired 1.61 million over three days, from Jan 25 to Feb 3. The share price
traded between 25 sen and 26 sen.
XOX offers mobile phone services by tapping into the infrastructure of its established partner, Celcom Axiata Bhd.
XOX mainly targets the prepaid market with a niche in the value-conscious segment, providing comprehensive content and
value-added mobile services primarily to blue collar workers, business owners, youth and students.
Mara Inc. (formerly known as Tooltronic Sdn Bhd) is a unit of Majlis Amanah Rakyat. According to its website, Mara Inc. was
formed to create and strengthen Bumiputera entrepreneurs and enterprises in order to streamline the efficiency of Mara
activities and strategic investment in niche sectors of the economy.