The founding partners of Asia Telecoms have relinquished their 70% equity interest shares at nominal value!
Asia Telecoms was granted an MVNO licence by the Malaysian government in 2005. The company ceased operations in the third quarter of 2007 due to serious financial difficulties. The company is now subject to a potential takeover by equity investors. Interim Directors have been appointed as at March 2008 to oversee the restructuring exercise.
The new Directors helming AT are Mr Boja Raj Muniandy and Mr Damian Pheny.
Mr Boja is a Certified Public Accountant. He was a Senior at Price Waterhouse for many years. He is currently an independent financial consultant for various IT related enterprises.
Mr Pheny, LL.B (Hons) London, MBA (Finance) Hull, England, is a practicing Advocate and Solicitor of 20 years’ standing.
The Directors are currently in talks with potential equity investors from Malaysia, Singapore and the Middle East. In an attempt to add value to the company, the Directors are also pursuing interconnectivity arrangements with telcos in Thailand, Indonesia and the Philippines where the combined population exceeds 300 million and mobile telephony penetration is less than 30%.
Interested parties may email enquiries to: damianpheny@asiatelecoms.net or bojarajmuniandy@asiatelecoms.net
As at 30th April 2008.
ASIA TELECOMS: GOING PLACES!
The Directors made a presentation to industry leaders and investors in London on Asia Telecoms and the vast potential for an MVNO player in Asia Pacific on 12th May 2008. Hardly 2 weeks after that presentation, the interest generated in Europe is beyond expectations. It is generally recognized that MVNOs largely operate in Europe and America and as yet there is no serious MVNO player in Asia and the Middle East. The stage has been set and the opportunity has arisen for a major telco to gain a foothold in this massive – and as yet untapped – market.
Asia Telecoms will be represented by its Directors at the MVNO Industry Summit 2008 in Barcelona, Spain where meetings are expected to be scheduled with Vodafone UK, Talkline, Virgin Mobile, Orange UK, TellaSonera, Telecom Italia and many more. Please see www.informatm.com for further details.
On 16th May 2008, the Directors also made a similar presentation to industry players in Mumbai, India. The enthusiasm in India reflected their growing worldwide presence in every industry. The Indian participants have scheduled a visit to Malaysia in the 2nd week of June for further talks with the Directors.
Stay tuned to this website for all the updates on the exciting prospects for Asia Telecoms in the near future.
As at 28th May 2008