KUALA LUMPUR (Oct 4): MLabs Systems Bhd rose 4.54% to a high of 11.5 sen this morning following its collaboration announcement with NetX Holdings Bhd to develop a free Wi-Fi business in Bangkok, Thailand.

At 10.29am, MLabs was unchanged at 11 sen, with some 28 million shares traded, rising from its earlier low of 10.5 sen.

In a stock exchange filing yesterday, MLabs announced its collaboration with NetX's unit PayAllz Sdn Bhd and Onliner Co Ltd to explore opportunities to enhance Chatuchak Market's free Wi-Fi business in Bangkok, Thailand.

MLabs's stock rose more than three times its yearly trading average of 12 sen on July 14, rising to a yearly high of 40.5 sen.

MLabs also announced a collaboration with Onliner on Aug 10 via its wholly-owned subsidiary Multimedia Research Labs Sdn Bhd (MRL) to share and exploit their information technology capability to develop new markets in Thailand and overseas.

MLabs said MRL had inked a collaboration agreement yesterday with Onliner and PayAllz, which is 60%-owned by NetX, to explore opportunities "to develop, support, implement plans and undertake activities to enhance Chatuchak's free Wi-Fi business that is mutually beneficial to the parties".

PayAllz will provide financial technology that provides mobile payment, e-wallet and loyalty programmes, and online shopping solutions to shoppers at Chatuchak. MRL will develop indoor mapping technology to allow shoppers to locate and navigate Chatuchak using smartphones.