S Korean telco to invest $100 mln in Malaysia

22:36, June 29, 2010      

Email | Print | Subscribe | Comments | Forum 

SK Telecom (SKT), a South Korean telco, will invest 100 million U.S. dollars in a Malaysian broadband company to position itself as a global player in the communication industry.

Cho Ki Haeng, president of Global Management Service of SKT, told reporters near here on Tuesday that SKT after injecting such amount of investment into Packet One Networks (Malaysia) Sdn Bhd ( P1), SKT will hold a 25 percent stake in P1.

Cho said that SKT was interested in the Southeast Asian market and the company believed that with the expansion overseas, it would become a global player.

Puan Chan Cheong, managing director of Green Packet, the parent company of P1, said that the 100 million U.S. dollars would be used for network expansion and network quality enhancement.

Puan said that as at end of 2009, P1 has 140,000 subscribers and it was targeted that the number of subscribers could be doubled by end of 2010.

He also said that P1 hoped that its broadband service could be launched in East Malaysia this year.

According to the joint statement issued by the two parties, P1 is entitled to receive SKT's network expertise support and access the later's customer products portfolio.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
  • A visitor passes by in the exhibition of Istanbul design week on Sept. 28, 2011 in Istanbul, Turkey. Istanbul design week will be hosting designers and design exhibitions from around the world in Istanbul from Sept 28 to Oct 2 with the participation of 25 countries. (Xinhua/Ma yan)
  • Red flag flies at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 28, 2011. A spokesperson with China's manned space program said Wednesday that fuel has been injected into the Long March-2FT1 carrier rocket in preparation for launching the Tiangong-1 space module Thursday evening as planned. (Xinhua/Wang Jianmin)
  • A militant loyal to the Libyan National Transitional Council (NTC) waves in a tank near Bani Walid, one of the pro-Muammar Gaddafi strongholds, on Sept. 28, 2011. (Xinhua/Hamza Turkia)
  • Jewish worshippers pray at the Western Wall, Judaism's holiest prayer site, in Jerusalem's Old City on Sept. 28, 2011, ahead of Rosh Hashanah, the two-day Jewish new year which will begin at sunset on Sept. 28 and conclude at nightfall on Sept. 30. (Xinhua/Muammar Awad)
  • High school student Johanna Choapa is helped by her father after announcing the end of hunger strike in Santiago, capital of Chile, on Sept. 28, 2011. The end of the strike took place to make way for a dialogue with the government, seeking to resolve the four-month crisis in the education sector. (Xinhua/Jorge Villegas)
Hot Forum Discussion