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16.11.2011
Vasseti acquires HD technology
Vasseti acquires HD technology
By Vasseti IR
Dated 11 November 2011
Share Acquisition Agreement signed to acquire 51% of HD Technology Sdn Bhd, a leading network and telecommunication infrastructure solution provider.
KUALA LUMPUR – NOVEMBER 11, 2011 – Vasseti (UK) Plc (Frankfurt: 1VS) announced that its Malaysian business unit, Vasseti Berhad, has acquired 51% equity interest in HD Technology Sdn Bhd (“HD Tech”).
HD Tech is a leading network and telecommunication infrastructure solution provider in Malaysia, with clients from both the Telco and ISP sectors. According to HD Tech’s Managing Director, Mr Zulkifli Abdul Latif, HD Tech is one of the two distributors of Huawei’s Enterprise Solutions in Malaysia as well as a distributor for Hitachi Data Systems. It also has controlling interest in the sales and distribution of books in the local education sector.
He added, “Apart from these businesses, HD Tech is also the leading joint venture partner in the prestigious Land Information Management System project called “e-Tanah”. The project is worth RM850mil in total for all 11 states in Malaysia. When asked the status of this project, he explained, “HD Tech had to-date completed the implementation for two states and is now awaiting for the approval to start implementation in the remaining states.”
Mr Zulkifli and the Group Managing Director of Vasseti, Mr Ranjeet Singh Sidhu, exchanged the signed Share Acquisition Agreement in a signing ceremony at Concorde Hotel. The event was attended by business associates from both sides as well as representatives of a number of media houses.
Speaking in the sidelines of the event, Tan Sri Syed Yusof, who is the Chairman of Vasseti and the owner of the Concorde Hotel chain in Malaysia said, “We are very particular in any of our M&A exercises, whereby we only look for profitable and well managed companies that can add value to the existing Vasseti businesses.” It was given to understand that this acquisition is a well planned move by both the companies. “HD Tech is a strategic acquisition for Vasseti group because we are planning a massive expansion in our network infrastructure and services. And it is a well managed and profitable organisation with great future prospects.”
When asked the reason for accepting Vasseti’s offer, Mr Zulkifli said, “HD Tech plans to leverage Vasseti’s regional and global expansion plan to replicate its businesses and support Vasseti’s in-house needs while widening its customer base.”
Adding in the same note, Mr Sidhu said, “HD will play a vital role in V Telecom’s future deployment of fibre optic (network) based products and services and we are confident that together we will make an everlasting impact in the telecommunication industry.”
CONTACT Investor Relations Team
TEL +60193877218
CATEGORY Information & Communications Technology
EMAIL ir@vasseti.co.uk
WEB www.vasseti.co.uk
About Vasseti
Vasseti (UK) Plc (“Vasseti”) is a large, diversified conglomerate based in Kuala Lumpur. It was recently listed on the Frankfurt Stock Exchange trading under the Symbol 1VS:GR. It plans to be fully reporting on the Entry Standard Level in October 2011. It is an investment holding company with business interests in the field of network telecommunications, information technology and real estate. Vasseti consists of companies and businesses that were established from as long as fifteen years ago to several new, high growth business ventures it initiated last year. These new businesses were made possible through acquisition of relevant contracts, expertise and/or licenses. Vasseti has its business focus in three (3) core business activities;
1. Network Infrastructure Telco
Owner and operator of fibre-optic telecommunication infrastructure and provision fixed-line network telecommunication infrastructure and services to other Service Providers, Multi National Corporations and other Large Corporations.
2. Network Services
Provision of IP-based services such as fixed-line fibre broadband internet for home (FTTh) and office (FTTo), HDTV based ipTV subscriptions, operation of MedikTV (a medical related ip-broadcast channel operating on advertisement revenue) and other cloud computing services.
3. Property Development
Investment in strategic landed properties with potential for commercial and residential development which can realise/unlock returns from appreciation, sale and rental.
Apart from the above mentioned businesses, there are other supporting businesses which are either in the early stage of development or in its infancy such as the engineering, plantation, HR services, security services, fleet management, office automation business and private jet charter services. Vasseti’s three main divisions which are telecommunications (“Telco”), information and communication technology (“ICT”) services, and real estate are represented by the following subsidiaries:
About Vasseti’s key subsidiaries
V TELECOMS BERHAD (“VTEL”) is a Licensed Network Infrastructure Telco, owns cross-border fibre-optic network and conducts wholesale (B2B) telecommunication business. VTEL undertakes Network Infrastructure Telco business in Malaysia. It own triple DWDM Network Transmission Trunk infrastructure routes from North to South Peninsular Malaysia – each with a carrying capacity of up to 320Gbps. It is now in the final stage of developing a 2,000km Coastal Network Infrastructure, which will host about 45 Internet Stations, 4 Submarine-Cable Landing Stations, 5 Border Gateway Data Centres and will be linked to other network operators and data centres in the country. The Coastal Network will have an initial carrying capacity of 1Tbps which can be upgraded to 8Tbps, depending on the demand. It is one of the three fixed line data providers in Malaysia apart from the incumbents Telekom Malaysia and Time Dotcom. It is in an industry with total market size of RM6bil as at Dec 2010 and with a Compounded Annual Growth Rate of 22%. V Telecoms is aspiring to command a mere 5% of the enlarged 2015 market share, with revenue of RM800mil and earnings of appx RM500mil.
VASSETI DATATECH BERHAD (“VDT”) is a Licensed Network, Internet and Application Services Provider with interest in Retail (B2C) Network Service business. VDT undertakes Network Services business and is licensed Internet Service Provider and ipTV Broadcaster in Malaysia. It has recently launched the world’s first broadband internet service using Metro Ethernet based Fibre-To-The-home (FTTH) and Fibre-To-The-office (FTTO) infrastructure offering 1Gbps capacity for residential and 100Mbps capacity for commercial customers. These services are offered within the greater Klang Valley area and will soon be offered at other major cities in Malaysia. It has also been awarded an exclusive contract from the Ministry of Health to spearhead the development and operations of a medical broadcast channel (“MedikTV”). Among the world’s largest advertisers, consisting of manufacturers of medical drugs and pharmaceuticals aspiring to supply their products and services to the hospitals and medical facilities in Malaysia, will be required to advertise through MedikTV – which in turn will educate the public of the types of medical drugs and pharmaceuticals used. In addition to the above, VDT is in the midst of implementing its flagship ipTV infrastructure and systems, through which it will launch 300+ High Definition ipTV services to the Malaysian public – on any broadband network.
MEDINA REAL ESTATE BERHAD (“MRE”) is involved in property development business. MRE undertakes investment and development works in strategic landed properties with potential for commercial and residential development which can realise/unlock returns from appreciation, sale and rental. MRE currently owns a 192-acre contemporary 18-hole Golf and Country Resort within the vicinity of Kuala Lumpur. It has one of the most appealing back-ground setting with lush green forest interlaced with prominent limestone hill protrusions. On this property, MRE in the process of implementing a high-end condominium development targeted exclusively for the Japanese buyers.
Vasseti intends to further expand its businesses in Malaysia as well as replicate its group business model regionally in the South East Asia (“SEA”) and the Middle East and North Africa (“MENA”) region. Immediately, for the year 2011, the target countries for global business expansion will be Singapore and Thailand.
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By Vasseti IR
Dated 11 November 2011
Share Acquisition Agreement signed to acquire 51% of HD Technology Sdn Bhd, a leading network and telecommunication infrastructure solution provider.
KUALA LUMPUR – NOVEMBER 11, 2011 – Vasseti (UK) Plc (Frankfurt: 1VS) announced that its Malaysian business unit, Vasseti Berhad, has acquired 51% equity interest in HD Technology Sdn Bhd (“HD Tech”).
HD Tech is a leading network and telecommunication infrastructure solution provider in Malaysia, with clients from both the Telco and ISP sectors. According to HD Tech’s Managing Director, Mr Zulkifli Abdul Latif, HD Tech is one of the two distributors of Huawei’s Enterprise Solutions in Malaysia as well as a distributor for Hitachi Data Systems. It also has controlling interest in the sales and distribution of books in the local education sector.
He added, “Apart from these businesses, HD Tech is also the leading joint venture partner in the prestigious Land Information Management System project called “e-Tanah”. The project is worth RM850mil in total for all 11 states in Malaysia. When asked the status of this project, he explained, “HD Tech had to-date completed the implementation for two states and is now awaiting for the approval to start implementation in the remaining states.”
Mr Zulkifli and the Group Managing Director of Vasseti, Mr Ranjeet Singh Sidhu, exchanged the signed Share Acquisition Agreement in a signing ceremony at Concorde Hotel. The event was attended by business associates from both sides as well as representatives of a number of media houses.
Speaking in the sidelines of the event, Tan Sri Syed Yusof, who is the Chairman of Vasseti and the owner of the Concorde Hotel chain in Malaysia said, “We are very particular in any of our M&A exercises, whereby we only look for profitable and well managed companies that can add value to the existing Vasseti businesses.” It was given to understand that this acquisition is a well planned move by both the companies. “HD Tech is a strategic acquisition for Vasseti group because we are planning a massive expansion in our network infrastructure and services. And it is a well managed and profitable organisation with great future prospects.”
When asked the reason for accepting Vasseti’s offer, Mr Zulkifli said, “HD Tech plans to leverage Vasseti’s regional and global expansion plan to replicate its businesses and support Vasseti’s in-house needs while widening its customer base.”
Adding in the same note, Mr Sidhu said, “HD will play a vital role in V Telecom’s future deployment of fibre optic (network) based products and services and we are confident that together we will make an everlasting impact in the telecommunication industry.”
CONTACT Investor Relations Team
TEL +60193877218
CATEGORY Information & Communications Technology
EMAIL ir@vasseti.co.uk
WEB www.vasseti.co.uk
About Vasseti
Vasseti (UK) Plc (“Vasseti”) is a large, diversified conglomerate based in Kuala Lumpur. It was recently listed on the Frankfurt Stock Exchange trading under the Symbol 1VS:GR. It plans to be fully reporting on the Entry Standard Level in October 2011. It is an investment holding company with business interests in the field of network telecommunications, information technology and real estate. Vasseti consists of companies and businesses that were established from as long as fifteen years ago to several new, high growth business ventures it initiated last year. These new businesses were made possible through acquisition of relevant contracts, expertise and/or licenses. Vasseti has its business focus in three (3) core business activities;
1. Network Infrastructure Telco
Owner and operator of fibre-optic telecommunication infrastructure and provision fixed-line network telecommunication infrastructure and services to other Service Providers, Multi National Corporations and other Large Corporations.
2. Network Services
Provision of IP-based services such as fixed-line fibre broadband internet for home (FTTh) and office (FTTo), HDTV based ipTV subscriptions, operation of MedikTV (a medical related ip-broadcast channel operating on advertisement revenue) and other cloud computing services.
3. Property Development
Investment in strategic landed properties with potential for commercial and residential development which can realise/unlock returns from appreciation, sale and rental.
Apart from the above mentioned businesses, there are other supporting businesses which are either in the early stage of development or in its infancy such as the engineering, plantation, HR services, security services, fleet management, office automation business and private jet charter services. Vasseti’s three main divisions which are telecommunications (“Telco”), information and communication technology (“ICT”) services, and real estate are represented by the following subsidiaries:
About Vasseti’s key subsidiaries
V TELECOMS BERHAD (“VTEL”) is a Licensed Network Infrastructure Telco, owns cross-border fibre-optic network and conducts wholesale (B2B) telecommunication business. VTEL undertakes Network Infrastructure Telco business in Malaysia. It own triple DWDM Network Transmission Trunk infrastructure routes from North to South Peninsular Malaysia – each with a carrying capacity of up to 320Gbps. It is now in the final stage of developing a 2,000km Coastal Network Infrastructure, which will host about 45 Internet Stations, 4 Submarine-Cable Landing Stations, 5 Border Gateway Data Centres and will be linked to other network operators and data centres in the country. The Coastal Network will have an initial carrying capacity of 1Tbps which can be upgraded to 8Tbps, depending on the demand. It is one of the three fixed line data providers in Malaysia apart from the incumbents Telekom Malaysia and Time Dotcom. It is in an industry with total market size of RM6bil as at Dec 2010 and with a Compounded Annual Growth Rate of 22%. V Telecoms is aspiring to command a mere 5% of the enlarged 2015 market share, with revenue of RM800mil and earnings of appx RM500mil.
VASSETI DATATECH BERHAD (“VDT”) is a Licensed Network, Internet and Application Services Provider with interest in Retail (B2C) Network Service business. VDT undertakes Network Services business and is licensed Internet Service Provider and ipTV Broadcaster in Malaysia. It has recently launched the world’s first broadband internet service using Metro Ethernet based Fibre-To-The-home (FTTH) and Fibre-To-The-office (FTTO) infrastructure offering 1Gbps capacity for residential and 100Mbps capacity for commercial customers. These services are offered within the greater Klang Valley area and will soon be offered at other major cities in Malaysia. It has also been awarded an exclusive contract from the Ministry of Health to spearhead the development and operations of a medical broadcast channel (“MedikTV”). Among the world’s largest advertisers, consisting of manufacturers of medical drugs and pharmaceuticals aspiring to supply their products and services to the hospitals and medical facilities in Malaysia, will be required to advertise through MedikTV – which in turn will educate the public of the types of medical drugs and pharmaceuticals used. In addition to the above, VDT is in the midst of implementing its flagship ipTV infrastructure and systems, through which it will launch 300+ High Definition ipTV services to the Malaysian public – on any broadband network.
MEDINA REAL ESTATE BERHAD (“MRE”) is involved in property development business. MRE undertakes investment and development works in strategic landed properties with potential for commercial and residential development which can realise/unlock returns from appreciation, sale and rental. MRE currently owns a 192-acre contemporary 18-hole Golf and Country Resort within the vicinity of Kuala Lumpur. It has one of the most appealing back-ground setting with lush green forest interlaced with prominent limestone hill protrusions. On this property, MRE in the process of implementing a high-end condominium development targeted exclusively for the Japanese buyers.
Vasseti intends to further expand its businesses in Malaysia as well as replicate its group business model regionally in the South East Asia (“SEA”) and the Middle East and North Africa (“MENA”) region. Immediately, for the year 2011, the target countries for global business expansion will be Singapore and Thailand.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3ZLSS23">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B3ZLSS23</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.