Shares in Mint Wireless jumped last week following the news that the group had bought 51 per cent of a Malaysia-based telecommunications services and mobile airtime reload and transfer provider from Insas Technology, a subsidiary of Insas Berhad, listed on the Malaysian stock exchange. Mint manufactures portable wireless payment equipment that allows businesses to invoice customers and directly process credit card transactions anywhere. The stock is down 19 per cent after a volatile 12 months. Mint reported operating revenue for the half to December 31 of $8.75 million, an increase of 105 per cent from the prior corresponding period, but booked an $808,000 net loss, down 44 per cent from the prior corresponding half. Last year Mint announced a partnership with Motorola to provide its mobile payments service to Motorola’s network of independent software vendors.

Stephen Shore