2010 FROST & SULLIVAN MALAYSIA TELECOMS AWARD FOR
MOST INNOVATIVE APPLICATION OR PRODUCT OF THE YEAR
   
 
Islamic Banking Tawarruq Trading System (IBTTS) from IDOTTV Sdn Bhd
   
  IDOTTV Sdn Bhd (IDOTTV), a solution and content provider specializing in the integration of mobile technology solutions is the honourable recipient of the 2010 Frost & Sullivan Malaysia Telecoms Award for Most Innovative Application or Product of the Year, for its Islamic Banking mobile communications trading application, IBTTS.
   
  The Islamic Banking Tawarruq Trading System (IBTTS) launched by IDOTTV is a Syariah (Islamic Law) Banking compliant trading system which allows users to trade telecommunication airtime as a trading commodity. IBTTS has since been acknowledged by the Islamic Banking community as the first deployment of its kind across the globe.
   
  IBBTS was launched in August of 2009 and amongst its key features is the ease of operation for end users as it is an online system that has fully automated the Tawarruq processes. The system also provides notification and responses to trading by means of Short Messaging Services (SMS). Amongst the other competitive features of IBTTS is the unlimited supply of commodity and ease of liquidity allowing easy trading on a per request basis. Transactions also take place very quickly, as transactions within the bank and traders are completed within the day of the trade request.
   
  The key benefits for subscribers of IBTTS include the low risk of trading due to stability of price and high liquidity as airtime is used by the general public as a daily need. The service also offers an efficient trading process as the entire Tawarruq system is fully automated. Airtime trading requires almost no overhead to the end user as well as trading offices as it does not require any storage space, brokerage fee nor transportation costs, appealing to a broad spectrum of existing and potential users. Furthermore, the paperless nature of such transactions makes it a green initiative.
   
  As of the end of 2009, subscription and utilization of IBTTS by IDOTTV include RHB Islamic Banking as well as more than 200 successful loan applications totalling to approximately RM4.7 million (~USD1.5million). The total revenue generated by IBTTS has contributed to approximately one quarter (~25%) of the total annual revenue of IDOTTV in 2009, an impressive feat considering IBTTS was launched in the middle of the year. IBTTS has contributed to the increase in revenue of IDOTTV from 2008 to 2009, which is approximately RM14 million (~USD4.4 million) and RM18 million (~USD5.6 million) respectively.
   
   
  About Best Practices
   
  Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
   
   
  About Frost & Sullivan
   
  Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.