Firm buys stake in Focus Media Network, enters Hong Kong, Singapore DOOH markets

Wong's International (Holdings) Limited (WIH), a leading Hong Kong based electronics manufacturing company, announced that it has acquired 22 percent of the issued shared capital of Focus Media Network Limited, a leading digital out-of-home media company in Hong Kong and Singapore.

Under the transaction, WIH will utilize FMN's extensive out-of-home digital screen network to launch its newly developed Interactive Digital Signage (IDS) services.

The WIH IDS system, which integrates RFID interactive technology with digital signage, is an interactive solution that enables users to interact with the digital signage displays to obtain product information or promotional coupons on-the-go. Users can simply present their RFID card or NFC-enabled mobile device onto the reader embedded in FMN's digital screens to receive information on the products and services being advertised via SMS/MMS or e-coupon while watching the commercials on FMN's digital screens. The system is intuitive and user-friendly and significantly increases the effectiveness of the advertising which will result in generating higher advertising revenue for FMN, according to a WIH release.

Established in 2004, FMN has achieved rapid growth in terms of network penetration and advertising revenue, notwithstanding the financial tsunami in 2008, and has become the leading digital out-of-home media company in Hong Kong and Singapore. FMN markets advertising services via a robust network of digital screens deployed at the elevator lobbies of over 700 premium offices buildings and shopping malls in the prime business districts of Hong Kong and Singapore, with access to an aggregate 6 million traffic on a daily basis. In addition to the Office & Commercial network, FMN also partners with Mannings and Midland Realty in Hong Kong, and Singapore Post and the Housing Development Board in Singapore to create a retail and community digital network.

"Globally, out-of-home is one of the fastest growing advertising sectors after the Internet, and Asia Pacific is the fastest growing region amongst the world in these sectors," said Wong Chung Mat, chairman and CEO of WIH. "The extensive network of Focus Media Network offers an excellent platform to launch the interactive digital signage services developed by our company. Its strategic regional network will further facilitate the promotion of our technology and other business streams in the Asian region, including markets like China, Taiwan, Vietnam and India. We are confident that our partnership with Focus Media Network will solidify the long term growth of our company."