ZAVARCO PLC
Vasseti (UK) PLC: VASSETI-HUAWEI PARTNERSHIP TO DEPLOY THE USD5BIL ‘VASSETI SOUTH ASIA NETWORK’
Vasseti (UK) PLC / Key word(s): Miscellaneous VASSETI-HUAWEI PARTNERSHIP TO DEPLOY THE USD5BIL ‘VASSETI SOUTH ASIA NETWORK’ By Vasseti IR Vasseti South Asia Network to have over 30,000kms of terrestrial fibre optic network footprint over more than a dozen countries in the South Asia region. KUALA LUMPUR – APRIL 18, 2012 – Vasseti (UK) Plc (Frankfurt: 1VS) has today, entered into a partnership agreement with Huawei Technologies Co., Limited to deploy the Vasseti South Asia Network (‘VSAN Project’). The USD5bil VSAN Project consists of more than 30,000kms of terrestrial fibre optic network over more than a dozen countries in the South Asia region, ultimately connecting three of the most populous nations in the world i.e. China, India and Indonesia. The VSAN Project will also link global network hubs such as Hong Kong and Singapore to more than 600 POPs (‘Points of Presence’) across the South Asia’s most underserved regions. It will be implemented in several phases, with the final leg completion by 2015. The first stage consists of appx 2,000kms of Malaysian Terrestrial Coastal Network, which will see completion by next year. According to the GMD of Vasseti Group, Mr Ranjeet Singh Sidhu, one of the key benefits of the VSAN Project is that it will bridge the digital divide between the more tech-savvy city dwellers and the IT-underserved rural folks in South Asia. He added, ‘This is achieved through the development of Vasseti Internet Stations or ‘VISTA’ along the VSAN network alignment, where anyone can access variety of IP-based services such as on-line banking, e-education, e-government, video communication and many other novelty IP-services including Vasseti’s flagship 1Gbps Broadband Internet and all these at extremely affordable rates’. The VSAN Project will be a boon to many regional cellular operators by providing the much required bandwidth for future LTE deployment at a fraction of imaginable rates. The VSAN project is somewhat a common superhighway for telecommunication operators and service providers alike (Celcos, Telcos & ISPs). In the era led by smartphones and PC-tablets coupled with high-definition video-driven contents, bandwidth demand is poised to experience a phase of ‘exponential growth’ which can only be fulfilled by fixed line fibre optic network running on powerful next generation network technology. ‘We are pleased to have this partnership with Huawei, who share same aspiration as the promoters of Vasseti’, according to Ranjeet. ‘The VSAN Project is about connecting people and enriching their lives through the vast resources of the internet’. He added, ‘Incidentally, Huawei’s vision is ‘To enrich life through communication’ and they have a proven track record in successful network infrastructure deployment.’ Meanwhile, according to the President of Global Solutions & Marketing of Huawei Enterprise Business Group, Mr Leon He, ‘Huawei is committed to realise Vasseti’s goal of successfully deploying the VSAN Project’. ‘We understand the region better than any other players and we have all the required resources and capabilities to complete VSAN Project according to Vasseti’ aspiration. We are proud to be Vasseti’s partner in implementing the VSAN Project’ CONTACT Investor Relations Team About Vasseti Vasseti (UK) Plc (‘Vasseti’) is a large, diversified conglomerate based in Kuala Lumpur. It is listed on the Frankfurt Stock Exchange (‘FSE’) trading under the Symbol 1VS:GR and is fully reporting on the FSE Entry Standard. 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 recently. The Company has already built a successful base in Malaysia and now plans to channel its resources to replicate its business model in the neighbouring countries especially within the South Asia region linking Indonesia, China and India, and possibly expanding towards the Middle East and North Africa thereafter. The Company intends to connect all the population within the catchment or business footprint to a single virtual world that is interlaced with brick and mortar business of real estate development and construction works. It is envisaged that the product and services offered by the Company may be reachable by almost 50% of the world population by the year 2020. Its strategy is to penetrate each market through mergers and acquisitions (M&A) and eventually becoming the market leader in those emerging markets. This forms part of Vasseti’s global expansion plan and having its presence in the most productive and profitable manner. End of Corporate News 23.04.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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