SYDNEY, Australia, 4 July 2012 – MOL Global (MOL), one of Southeast Asia’s largest internet companies, today announced the launch of MOL in Australia and New Zealand through a majority investment by MOL in Ocash Pty Ltd (ocash) – a local payment service provider specialised in online game credit. This strategic investment is the latest step to strengthen MOL’s positioning as the leading platform for online games and payment in the Asia Pacific region and will serve to further extend MOL’s reach for its partners.

MOL is one of the largest online payment service providers worldwide with more than 600,000 physical and online payment channels. MOL partners with over 150 online game publishers and social networks worldwide including Facebook, Zynga and Electronic Arts.

“This is a significant step for MOL to continue to build and strengthen its business strategy across the Asia Pacific region,” said Craig White, President of MOL Global. “According to PricewaterhouseCoopers’ research in 2011, the online game industry in Australia alone is expected to grow to AUD 1 billion in 2014. We see this as an opportunity that we and our partner merchants can tap into.”

“Our growth in the region with the establishment of MOL Australia and the strategic investment in ocash is a further step of our initiative to provide a premium payment eco-system that is highly efficient in terms of convenience, security and cost. With the support of ocash’s experienced team, we are able to offer more valued-added services and products to our customers in Australia and New Zealand. At the same time, this alliance will also provide more business opportunities for our region’s game developers and publishers as they will be able to extend their reach via MOL to consumers outside the Asian region,” added Craig.

ocash is a payment service provider specialised in online games credits for the Australia and New Zealand markets. Its flagship product – ocash points, is a virtual credit utilised by online game enthusiasts to purchase popular game credits from various game publishers. Reputable online game credit distributor, OnlineGamez Australia was also recently acquired by ocash and will focus on sales and distribution, as well as building a vibrant game community throughout the region.

Budi Handoko, Founder of ocash, said: “We identify ourselves in line with the vision of MOL and the synergy between both organisations will allow our businesses to reach new heights. At the same time, our growing player community will be able to gain new secured channels to purchase various popular digital products such as Facebook Credits, as well as be introduced to MOL’s huge portal of international and Asian games.”

Budi Handoko, an online game industry specialist with knowledge of Australia and New Zealand’s online industry will join MOL Australia’s management team as Chief Executive Officer.

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About MOL Global Pte Ltd (MOL Global):
MOL Global is one of Southeast Asia’s biggest internet companies and fully-own both payment service provider, MOL AccessPortal Sdn Berhad (MOL) and the world’s pioneer social network, Friendster Inc. (Friendster) Through its ownership of MOL and Friendster, MOL Global has one of the region’s largest end-to-end content, distribution and commerce networks, pairing MOL’s physical payment collection points and payment platforms with Friendster’s large online footprint, social network and gaming community in Asia. For more information on MOL, visit www.molglobal.net or www.mol.com.

About Ocash Pty Ltd (ocash):
ocash is a payment service provider specialised in online game credits for the Australia and New Zealand region. ocash points, the flagship product of ocash, is a virtual credit utilised to purchase online game credits from various regional game publishers. OnlineGamez Australia, a division of ocash, focuses on sales and distribution of online game credits, as well as building a vibrant game community. For more information on ocash and OnlineGamez Australia, visit http://oca.sh or http://www.onlinegamez.com.au.

MOL is a trademark of MOL AccessPortal Sdn Bhd in Malaysia. All other product and company names herein may be trademarks of their respective owners.

Hi-res company’s logos and executive photos can be downloaded at: www.flickr.com/molpr

Australia Contact:
Budi Handoko / James Doumit

Media Contact:
Alvin Tan / Winnie Loo