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HK-Singapore Venture to Offer Satellite Telecom Service
APT Satellite Glory Limited and SingaSat Private Limited signed an agreement Wednesday to form a joint venture to offer external telecommunications network services in Hong Kong.
Under the agreement, APT Glory holds 55 percent of the shares of the joint venture, APT Satellite Telecommunications Limited ( APT Telecom), while the rest 45 percent are owned by SingaSat.
APT Telecom will offer external telecommunications services, including wholesale, VSAT and Internet POP Gateway services, in the Hong Kong Special Administrative Region through APSTAR satellites and other systems. It has obtained an external satellite-based Fixed Telecommunication Network Services (FTNS) license.
The company plans to invest between 200 million HK dollars (25. 6 million U.S. dollars) and 300 million HK dollars (38.5 million U. S. dollars) over the next three years to ensure its ability to provide sufficient capacity and quality services to its customers.
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