Seems like the largest MVNO there is Tune Talk (1.5 million subscribers? http://www.prnewswire.com/news-releases/tune-talk-selects-flytxt-for-customer-value-management-567330581.html)
Other big one is XOX (1.65 million scrubscribers? http://www.wikivisually.com/wiki/XOX)
This report from 2016 singles out Tune Talk and TRON, so you gotta think those are the two biggest ones now. But, the report costs a crapton lol: https://www.wiseguyreports.com/reports/349582-mvnos-in-emerging-asia-choosing-the-right-business-model-and-partners-are-key-to-success
Most of these numbers seem to be outdated though, so it's hard to judge.
XOX trades on the Malay stock market. Nothing exciting:
https://www.google.com/finance?cid=212270577281171
Tune Talk has not IPO'd yet. There were talks of that in 2015:
http://www.stockhut.com.my/news/26653
Maybe they'll do the same thing as Tron, IPO in the US?
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