• The new enlarged TeleChoice will offer a broader and diverse range of integrated telecommunications products and services to consumer and enterprise markets in the region

Singapore, 14 January 2004 - Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company, today announced the integration of ST SunPage Pte Ltd (SunPage) and ST Mobile Data Pte Ltd (STMD) into TeleChoice International Pte Ltd (TeleChoice). The enlarged TeleChoice will offer a comprehensive suite of telecommunications solutions in Singapore, Malaysia, Indonesia and Australia.

Under the new shareholding structure, ST Telemedia now holds about 70 percent of the enlarged TeleChoice. The remaining 30 percent is held by Leap International, a Singapore-based investment holding company. Previously, ST Telemedia owned 100 percent of both SunPage and STMD, and 51 percent of TeleChoice.

Integration rationale and benefits

In line with its growth plan and changing customer requirements and market dynamics faced by its operations, ST Telemedia and the management of the three companies have embarked on the process of streamlining and transforming the operations of SunPage, STMD, and TeleChoice to help maintain their market momentum and further strengthen their regional presence.

The integration will allow the three companies to quickly and efficiently create a sizeable telecommunications solutions provider, with a complete suite of end-to-end telecommunications products and services, an expanded customer base and immediate key market presence in Asia-Pacific.

All three companies are profitable and are market leaders in their respective segments. SunPage is a leading provider of International Direct Dialling (IDD) services with a core focus on innovative telecommunications services marketing. ST Mobile Data offers leading edge mobile data services and solutions and is amongst the most successful publicly-licensed mobile data operators worldwide. It operates a public dedicated wireless data network in Singapore and has captured over 80 percent of the total publicly-subscribed mobile data market share. TeleChoice has forged strong relationships with key mobile phone manufacturers and has established a strong telecommunications product distribution network in Singapore and in the region. TeleChoice has also acquired leading competencies in advanced mobile technology and mobile network engineering.

The enlarged TeleChoice’s core competencies will draw from the companies’ existing unique and complementary strengths, namely in application services, engineering, marketing, distribution and customer fulfilment.

The new company

The enlarged TeleChoice will offer customers a full suite of advanced mobile products and services targeted at the consumer and enterprise markets. It will be structured into four business units, namely, telecommunications equipment distribution, consumer telecommunications services, enterprise telecommunications services and wireless network engineering services.

The enlarged TeleChoice will be headquartered in Singapore with established presence in key telecommunications markets in Malaysia, Indonesia and Australia.

“The integration of ST SunPage, ST Mobile Data into TeleChoice marks yet another key milestone in the history of ST Telemedia. It is the result of the ST Telemedia’s strategic plan to create significant value for all our stakeholders,” said Mr. Lee Theng Kiat, President and CEO of ST Telemedia. “This powerful combination creates a regional integrated telecommunications solutions provider that not only has sound business track record and financial stability but also an expanded customer base, service offerings and markets, and a talent pool that is characterised by entrepreneurs. ”

Commenting on the integration is Mr. Clive Lim, current Managing Director of TeleChoice: “This is a winning combination for customers and employees. With the resources of the combined company, we will continue to help our customers succeed and address their business needs. Customers of the three companies will have immediate access to the full suite of innovative, seamless consumer and enterprise solutions and excellent customer service support in the countries where TeleChoice currently operates. Employees can look forward to a varied and exciting career development path with the new company as it forges forward with aggressive regional growth plans.”

“The integration is a big leap forward in fulfilling ST SunPage and ST Mobile Data’s goal to become regional players in their respective space,” said Mr. Tay Kiong Hong, Group Managing Director of ST SunPage and ST Mobile Data. “With TeleChoice’s regional presence and key partnerships, combined with ST Mobile Data’s expertise in wireless data services and ST SunPage’s innovative marketing capability, the new enlarged TeleChoice will grow to become the preferred brand by both consumer and enterprise for superior, integrated communications solutions."

Leadership

Mr. Clive Lim, TeleChoice’s current Managing Director, will be appointed President and CEO of the new enlarged TeleChoice. Mr. Tay Kiong Hong, current Group Managing Director of ST SunPage and ST Mobile Data, will be its Senior Vice President .All three companies’ senior management team and employees remain largely intact.