ST Telemedia Joins Hands with VNPT Global on International Business
- ST Telemedia takes 10 percent shares in VNPT Global
Hanoi and Singapore, 11 March 2010 - Singapore Technologies Telemedia (ST Telemedia), a leading information-communications company with operations globally, and VNPT Global, a subsidiary of VNPT Group, Vietnam’s foremost full service telecommunications service operator, today announced their partnership where ST Telemedia has invested a 10 percent share in VNPT Global.
VNPT Global is the global telecommunication subsidiary of VNPT Group. Its main business activities include setting up VNPT Group’s international connectivity networks, providing value added telecom services and contact center services to VNPT Group customers worldwide, and cooperating with industry partners on global telecommunications investment opportunities. Outside Vietnam, VNPT Global operates in Singapore, Hong Kong, USA and the Czech Republic. The founding shareholders of VNPT Global are VNPT Group with a majority share, and Vietnam Mobile Services Company (VMS or Mobifone), Vietnam’s second largest wireless operator, and Vietnam Post Corporation (VN Post), each with a five percent stake.
ST Telemedia is a Singapore-based telecommunications investment company with operations in the Asia-Pacific region, Europe and the Americas. Its business focus is in mobile communications and global IP services.
The Share Subscription Agreement between ST Telemedia and VNPT Global, signed in January this year, allows ST Telemedia to raise its shareholding. Marking the beginning of the partnership, ST Telemedia’s President & CEO, Mr Lee Theng Kiat, was presented with the Investment Certificate by VNPT Global Chairman, Mr Lam Hoang Vinh, at a ceremony in Hanoi. The ceremony was witnessed by H.E. Mr Tran Duc Lai, Deputy Minister of Information Communication Ministry, and H.E. Mr.Simon Wong, Singapore Ambassador to the Socialist Republic of Vietnam.
The strategic partnership will benefit ST Telemedia and VNPT Global’s mutual goal of investing in growth companies in the telecommunications sector around the world to enhance shareholder value. It will boost both VNPT Global and ST Telemedia’s capability to access telecommunications opportunities globally. VNPT Global will also be able to tap on ST Telemedia‘s diverse investment and operational experience, expertise and best practices in matured and emerging markets to advance the performance of its existing operations.
“We believe that ST Telemedia is the right strategic partner to effectively contribute toward the further development of VNPT Global’s international business activities, one of the focuses of VNPT in the coming years. ST Telemedia has nearly 20 years of investment and operating experience throughout the world in the field of telecommunications. Its ownership in a number of international telecom operators will be a bridge for VNPT Global to approach and expand its markets in Asia Pacific and other emerging markets as well,” said Mr. Lam Hoang Vinh, Executive Vice President of VNPT Group and Chairman of the Board of VNPT Global.
Commenting on the partnership is ST Telemedia’s President & CEO, Mr Lee Theng Kiat: “The cooperation with VNPT Global marks another important milestone for ST Telemedia’s relationship with a long standing partner, VNPT Group. I’m pleased today to witness yet another chapter of collaboration between ST Telemedia and a VNPT subsidiary, VNPT Global. From a MOU with VNPT to share insights and experience on management and operational matters signed in 2005, we are now ready to jointly explore telecommunications opportunities on the world stage. The new partnership not only reaffirms ST Telemedia’s commitment to investing in Vietnam, but also underscores the strength of our long term relationship with VNPT. I’m confident that the complementary strength and resources of all shareholders of VNPT Global will provide the company with unparalleled capabilities to pursue broad and diverse business opportunities in the global telecom landscape.”