Forum Archive Index - March 2000

[Mike Nelson <bb2345@ihug.co.nz>]

Heres the news that pushed NGL up in early trade this morning. Long may it
continue.

Hold NGL


REL: 1710 HRS Newcall Group Limited
 
GEN: NGL: NEWCALL GRANTED SINGAPORE LICENCE
 
NEWCALL Group is one of only ten telecommunications companies in the world to
be awarded a Services-Based Operator (SBO) Licence by the Singapore
Government. The first round of licences to be granted for the new deregulated
market valued at more than NZ$5 billion per annum take effect from 1 April.
In a ceremony in Singapore today NEWCALL was awarded the licence by the
Singapore Minister of Telecommunications Mr Yeo Cheow Tong. NEWCALL is the
only New Zealand based telco in the list of successful applicants which
includes key global telecommunications players.
_We are and will remain a New Zealand based telecommunications company,_
explains Nicholls. _Our growth locally has been spectacular, with a 50 per
cent increase in revenues this year alone, and we are on target to meet our
operational forecasts, achieving profitability before the end of the year._
_NEWCALL was established in the deregulated New Zealand market with the long
term intention of migrating the skills learnt and honed locally into Asian
markets as they open up to competition. Our main shareholders are based in
the Asia Pacific region and we already have a Singapore office for the
wholesale telecommunications market in Asia. The consequent expansion into
the exciting Singapore retail market is a natural progression for us._
In February this year the Government of Singapore decided to bring forward
the introduction of full market competition in the telecommunications sector
by 2 years from 1 April 2002 to 1 April 2000. The direct and indirect foreign
equity limits for all public telecommunications services licenses were also
lifted. These measures are designed to encourage global communications
players to participate actively in that market as well as locate their
regional and global hubs in Singapore, thereby furthering that country_s
development as a leading knowledge-based economy and info-comms hub in the
Asia Pacific.
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