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Vasseti´s Business Unit Selected as Part of the Prestigious Malaysian Economic Transformation Program
Vasseti´s Business Unit Selected as Part of the Prestigious Malaysian Economic Transformation Program

By Vasseti IR
Dated 17 October 2011

Vasseti’s business unit, MedikTV, which provides ipTV broadcast solution to all hospitals and medical centres under Ministry of Health, has been selected by Malaysian Government as one of the key national Economic Transformation Project.

KUALA LUMPUR – OCTOBER 17, 2011 – The Economic Transformation Unit under the Prime Minister’s Department recently selected MedikTV, an ipTV broadcast initiative led by Vasseti’s subsidiary Medic Channel Sdn Bhd, as one of the key Economic Transformation Program (ETP) for Malaysia.

Through ETP, projects of significant importance to the Malaysian economy are shortlisted and selected by the Prime Minister’s Department and are listed as the key drivers of the Malaysian economy in the next few years. These projects receive special attention from both the government and the private sector to ensure its successful implementation and impact onto the national growth agenda can be realised as planned.

Vasseti, an investment holding company lead by Tan Sri Syed Yusof, a flamboyant, well connected Malaysian billionaire with a history of Midas’ touch, has recently been listed on the Frankfurt Stock Exchange (FSE: 1VS). Speaking at the sidelines of the official ceremony for MedikTV’s inclusion in ETP at the Malaysian federal capital Putrajaya two weeks ago, Syed Yusof said, “At Vasseti, we are always finding ways to make technology work for people. In this instance, we used the combination of technologies and resources available in Vasseti to enable the government to deliver awareness campaign to the rakyat (people). Specifically, this was achieved by using our ipTV broadcast technology provided by Vasseti Datatech leveraging on our own nationwide network infrastructure, provided by V Telecoms”.

When asked if the project is a corporate social undertaking by Vasseti, Syed Yusof replied, “It certainly is.” The end result of the MedikTV initiative is greater public awareness on medical and health issues. “But it is not a charity project. Vasseti has its obligation to its shareholders to deliver profit and we achieve that through a clever blend of advertisement revenue from an industry that is known to pay the most for advertising,” he further elaborated, referring to the pharmaceutical and health industry.

The end result can be mind blowing. All medical suppliers and contractors working with the government through the Ministry of Health are required to educate the public especially the patients visiting the government medical facilities, of the product and supplies used on them. This provides an extremely niche market segment for Vasseti to capitalise on them by charging advertisement slots on the ipTV broadcast, which is exclusively managed by MedikTV for the Ministry of Health, Malaysia.

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CATEGORY Technology & Real Estate

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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