Affle India stock zooms 5% after winning contract from Singapore govt -IIFL SECURITIES
Affle International Pte. Ltd. (“Affle”), the leading consumer intelligence platform company, has announced that it has won the contract from the Singapore Government to build a ‘Digital & Cloud-based Commuter Survey Platform’ for Land Transport Authority (LTA).
The stock is currently trading at Rs2,943.35, up by Rs140.15 or 5% from its previous closing of Rs2,803.20 on the BSE.
Affle’s mobile marketing platforms will enable interactive surveys for citizens in Singapore to drive LTA’s objective of building a people-centred land transport system. The total value of the contract is over USD 1Mn.
Affle’s platforms were first accredited by the Infocomm Media Development Authority of Singapore in 2018, and Affle is actively engaged on 6 projects across multiple Singapore government agencies as on date.
Commenting on these developments, Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said “We would like to thank LTA as well as all other Singapore government agencies for the opportunity to prove our platforms and our ability to drive meaningful citizen engagements on connected devices. We would also like to thank IMDA for accrediting our platforms and their continued support. These wins are significant validation of our Affle2.0 verticalization strategy and strengthen our long-term growth trend.”
Commenting on the win, Charles Yong, Chief Architect and Chief Technology Officer of Affle said “We are delighted to be a part of the project with LTA. Our platforms are verticalized towards delivering citizen data platform (CDP) services and personalized citizen engagement through our data management platform – ‘mDMP’, programmatic marketing platform – ‘RevX’, omnichannel engagement platform – ‘Vizury Engage360’, and our mobile ad fraud prevention platform – ‘mFaaS’.”
“We are excited for Affle to be empowering citizen-centric engagement projects with LTA and other Government agencies, contributing to a customized experience for the citizens/customers. We hope they will continue to help drive the digitization journey for both the Government and enterprise sectors in Singapore”, said Mr. Edwin Low, Director of Innovation & Tech Ecosystem, Infocomm Media Development Authority of Singapore.
These milestone celebrations come soon after Affle completed one year of a successful IPO in India on 8th August 2020.