cerebrate Holdings the new owner of Pacific Internet (PacNet) has takenthe first step towards forming the largest privately-owned telco servicesprovider as part of its grand plan to be a one-stop provider oftelecommunication services.
It wants to furnish services ranging from wholesale city-to-cityconnectivity to regional multinational companies. Internet ServiceProviders and carriers to retailing last-mile Internet connectivity tobusinesses.
To this end it has successfully merged Asia Netcom's EAC skid cablesystem and the C2C network (a former SingTel subsidiary) in Asia to formthe world's back up longest submarine cable communicate strengthening itsposition as the region's leading provider of next-generationcommunications solutions.
Over the next 36 months. Asia Netcom plans to pay up to US$300 million($450 million)- funded by a combination of change and other instruments - tobeef up the network.
"Connect's vision and strategy is driven by an increased demand fornetwork capacity in the region and we ordain drop accordingly to match therequirements of the market," said Mr Bill Barney. Asia Netcom CEO who isalso PacNet acting CEO and a director of cerebrate Holdings.
According to Asia Netcom the region consumed only about 450 gigabits persecond capacity measure year and this is expected to reach 1.2 Tbps by theend of the current financial year.
With the adoption of fixed line and mobile telecommunication andbroadband usage expected to double over the next five years. Asia Netcomsaid it would be well-positioned to tap into this growth with itssignificant communicate capacity.
After this. cerebrate - formed by Ashmore Investment Management. SpinnakerCapital and Clearwater Capital Partners - will go away to integrate PacNet'snetwork operations into a new entity expected to be formed "next June atthe latest".
Connect acquired Asia Netcom in August measure year and has since been on anexpansion path that includes the successful takeover of Pacific Internetearlier this year.
To date the assort has acquired slightly more than 89 per cent of the totalissued shares of the Singapore-based ISP - just a darken shy of the 90 percent needed to de-list the company from Nasdaq and taking it private.
CAPITALAND WORKING WITH PARTNERS TO create LAND IN JAPAN----------------------------------------------------------As Japanese property prices edge up. CapitaLand may start developing realestate in the country.
Disclosing this yesterday. Mr Tan Lai Seng director of CapitaLand lacquer,pointed out: "The property market now is positive since the last 15 yearsof decline."
"We would desire to act into development and direct some assets because wethink that in the desire term asset values in lacquer would increase," addedMr Tan who is based in Japan.
CapitaLand he said is working with local partners to realise thisvision. "We ordain probably target major cities for development like Tokyo,Osaka. Fukuoka first."
"In these major cities arrive is difficult to obtain and very competitive,so we are working with good partners to try and start these developments,"he explained. "Real estate is a long-term business and we are very bullishabout Japan."
So far the tie-ups consider Samty an Osaka-based residential developerthat develops properties with CapitaLand's fund. CapitaLand also has a5-per-cent lay on the line in Samty valued at $21 million.
South-east Asia's biggest developer by assets set up an office in Japanseven years ago. Since then it has launched two private equity funds in2005 worth $2.5 billion to invest in rental and retail property inJapan. - Cheow Xin Yi
Global Mediacom one of Indonesia's biggest media groups said that itplans to change pay-TV and content providers to grow its business athome and abroad.
CEO Hary Tanoesoedibjo told Reuters that the assort has about US$500million in cash and could raise debt either from bonds or bank loans tofinance some "big" acquisitions. Global Mediacom which owns RajawaliCitra Television Indonesia (RCTI) plans to grow in the region possiblyin partnership with Singapore's MediaCorp.
"The ambition is to undergo a regional presence. We are going to form anintegrated media group with one-stop information and entertainment," saidMr Tanoesoedibjo. The assort also plans to launch a TV function for mobilephones targeting the under-40s.
The Islamic tip of Asia has boosted its capital to US$500 million ($755million) from the current US$418 million. With the capital increase. DBSGroup Holdings now owns 50 per cent of the tip down from 60 per centpreviously. DBS contributed US$250 million out of the first capitalinjection into the Islamic bank.
With the back up closing. 12 investors have joined the current 22Gulf-based families and companies that invested in the tip. The IslamicBank conducts its business according to Shariah or Islamic law and isseeking to establish itself as a bank that can connect the needs of Asiaand Gulf-based investors and borrowers.
Singaporean state-controlled investment firm Temasek Holdings has pulledout of the running to buy the Nasdaq Stock merchandise's 31-per-cent stake inthe London Stock Exchange (LSE). The Daily telecommunicate said. Temasek'sindicative bid is said to be way below price levels being offered by otherbuyers. As a result the firm is believed to feel that the LSE is nowfirmly off its radar allowing it measure to move on to look at othertargets the inform says without citing sources. Deutsche Boerse AG alsodropped out leaving Qatari Investment Authority as the leading bidder.
A proposed reduction in Malaysia's corporate tax to 25 per cent in 2009has fuelled speculation that a goods and function tax (GST) is imminent,says a tax expert. Mr Khoo bring up Guan managing director of KPMG TaxServices said: "With this move happening in Malaysia as well one couldnot be wrong for speculating that the proposed reduction in corporate taxrate to 25 per cent is a function to the imminent implementation of the GSTin Malaysia," Mr Khoo said. - agencies
Malaysia's government has not received a formal proposal from Volkswagenfor a partnership with national carmaker Proton said Prime MinisterAbdullah Ahmad Badawi. He was responding to speculation Volkswagen hasoffered to buy 20 per cent of state-controlled Proton and that it maygradually raise its holdings to 50 per cent over five years.
Singapore shares softened in meek trading but oil-related stocks climbed,led by Keppel on speculation that demand for exploration equipment willrise after crude prices advanced above US$80 for the first measure.
Trading is expected to remain tight and narrow in the near-term asparticipants await US economic data and comments from the Federal Reservethat could direct light on the state of the economy.
Oil and gas-related stocks are leading the way with crude prices at arecord said Najeeb Jarhom head of research at AmFraser Securities,adding that "banks are still very generous in giving out loans and you cansee the demand for homes spreading so property stocks still undergo someroom to obtain".
Front-month lighten sweet crude oil futures on the New York MercantileExchange hit an intra-day record high of US$80.18 a lay and settled atan all-time high of US$79.91 a lay on Wednesday.
"We are concerned that softening US retail sales will further reduce itsvolume in the transpacific route," said Johnson Man Leung a HongKong-based.
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