You are here: Home > Corporate Info > News Room >

• CDC owns licence for ISP, VSAT and Voice Hubbing in Cambodia

SINGAPORE – 08 September 2005 – Mainboard-listed MediaRing Limited (“MediaRing” or the “Group”), the leader of pure-play VoIP telephony service providers in Asia, is strengthening its foothold in IndoChina. The Group announced today it has joined its Cambodian partner, Anana Computer Ltd, in Cambodia Data Communication Company Ltd (“CDC”) by taking a 40% stake in CDC.

CDC will have a paid-up capital of US$500,000 of which 40% or US$200,000 will be contributed by MediaRing and the remaining 60% or US$300,000 will be provided by Anana Computer, which is reputed to be one of the more successful IT companies in Cambodia.

Located in Phnom Penh, CDC is a whole-sale carrier that provides telecommunications services and is a holder of an ISP licence issued by the Ministry of Post and Telecommunications Cambodia (“MPTC”). In addition, CDC also has a VSAT network agreement in the field of telecommunications awarded by the MPTC.

Registered under the name of AngkorNet, CDC is authorized to provide Internet Services throughout Cambodia, offering dial-up or ADSL broadband connections.

This partnership marks MediaRing’s first venture into both Cambodia and as an ISP. “We want to position ourselves to develop the Cambodia market which we think will be very promising in the years to come,” says Mr Khaw Kheng Joo, CEO of MediaRing.

“Cambodia, with a population of approximately 15 million people, has a very low penetration rate of telecommunication. This means that we, together with our partners, will be strategically well-positioned to develop an affordable means of telecommunication that will spark the growth of this sector.”

MediaRing is particularly interested in the voice hubbing licence which will come in handy to immediately improve the quality and cost of its current worldwide customers who call Cambodia. “This will definitely give us an extra edge over our competitors,” says Mr Khaw.

For a start, CDC will build an international standard ISP network in Phnom Penh, the capital of Cambodia, using VSAT technology. This initial project in Phnom Penh is estimated to cost between US$2 million and $3 million. From Phnom Penh, CDC plans to increase its provision of Internet access and related services to a nationwide level.

“As Cambodia is very liberal in FDI (Foreign Direct Investment), we are very bullish that business activities will grow and we are in a position to develop and offer corporations and businesses, an affordable communication service,” says Mr Khaw.

About MediaRing
With offices in Singapore, Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Sunnyvale (USA), MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global pure-play VoIP market. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 90 per cent of its revenue from outside Singapore.

MediaRing recently announced that it has entered into a placement agreement worth US$24.1m with Venture One Finance Limited. Venture One Finance Limited subscribed up to an aggregate of 150.33million new shares which represented approximately 20% of the capital of MediaRing. Venture One is a company incorporated in the British Virgin Islands.

Public Relations Contact

For further information please contact:
August Consulting
Tel: 6733 8873 Fax: 6733 9913
Silvia HENG- silvia@august.com.sg
Lynn Ll- lynn@august.com.sg