Feb 18, 2013

Sing Tel company arranges to invest in Myanmar

Singapore Telecommunications ltd ( Sing Tel ), the largest telecommunications company in South-East Asia, is making arrangement to invest in Myanmar, according to local media.

Singapore Telecommunications (Sing Tel ) is a group with businesses in telecommunications, data and internet services, info-communications technology and pay TV. The largest public –listed company in Singapore by market capitalization. Sing Tel also derives over 70 percent of its revenues from international investments and operations as of the last year.

“Sing Tel expresses interest in competitiveness with local and foreign companies penetrating into the local communications market in Myanmar,” Bloomberg News Agency said.

The company has started making efforts since January in order to gain the mobile phone service license in Myanmar and is arranging to take part in competitive bidding system.

In his meeting with the media persons, CEO Chua Sock Koong of Sing Tel replied that we are finding out a good experience for market orientation. Now, Myanmar communications market is very interesting. However, we need to understand Myanmar’s communications matters.”

Sing Tel company has gained popularity in Asian market and owned the considerable market share in Thailand, Indonesia and India. If the company gains the permit of mobile phone service license in Myanmar, it is likely to make investments on a basis of joint venture with other local companies.

The state owned newspapers released on January 15, that Myanmar Posts and Telecommunications invited local and foreign operators who want to provide communications services to send the application form writing Expression of Interest-EOI for their license through competitive bidding system.

The Telecommunication Operator Scrutiny Committee formed by the Union Government has invited the Expression of Interest-EOI to send to the operators who are providing communications services and the committee will also grant permission to the applicants two kinds of communication service licenses before July.

The application forms of Expression of Interest-EOI must be sent not later than February 8 and the local and foreign companies already applied for telecommunication services are 90 in total.

Source: Eleven Weekly Media