KUALA LUMPUR: Celcom Axiata Bhd has signed a shareholder agreement with Philippines’ PLDT Global Corp (PGC) to establish a mobile virtual network operator (MVNO) in Malaysia.
Under the agreement, Celcom Axiata and PGC will hold 49% and 51% stakes respectively in PLDT Malaysia Sdn Bhd.
PLDT Malaysia has a paid-up capital of RM6 million, divided into six million shares. “The subscription by Celcom of its 49% equity interest in PLDT for the sum of RM2.94 million will be funded through internally generated funds,” Celcom Axiata said in a filling with Bursa Malaysia.
PLDT Malaysia will offer mobile prepaid services under the brand name SMART Pinoy, targeted at Filipino migrant workers in Malaysia.
“By tapping into PGC’s knowledge of the Filipino market and leveraging its SMART brand name among the Filipinos, Celcom will be able to better reach this segment of migrant workers,” said Celcom Axiata CEO Datuk Seri Shazalli Ramly.
This is the fifth MVNO partnership for Celcom Axiata after REDtone, Tunetalk, XOX and Merchant Trade.
According to Bernama, Shazalli said Celcom Axiata is targeting 10% contribution to its total revenue from the MVNO business by 2015.
It has 1.2 million active MVNO subscribers, contributing 5% to the group’s total revenue for the nine-month period ended Sept 30.
Celcom Axiata gained 25 sen to close at RM5.10 yesterday with 10.23 million shares done.
This article appeared in The Edge Financial Daily, December 1, 2011.
Under the agreement, Celcom Axiata and PGC will hold 49% and 51% stakes respectively in PLDT Malaysia Sdn Bhd.
PLDT Malaysia has a paid-up capital of RM6 million, divided into six million shares. “The subscription by Celcom of its 49% equity interest in PLDT for the sum of RM2.94 million will be funded through internally generated funds,” Celcom Axiata said in a filling with Bursa Malaysia.
PLDT Malaysia will offer mobile prepaid services under the brand name SMART Pinoy, targeted at Filipino migrant workers in Malaysia.
“By tapping into PGC’s knowledge of the Filipino market and leveraging its SMART brand name among the Filipinos, Celcom will be able to better reach this segment of migrant workers,” said Celcom Axiata CEO Datuk Seri Shazalli Ramly.
This is the fifth MVNO partnership for Celcom Axiata after REDtone, Tunetalk, XOX and Merchant Trade.
Shazalli (second from left) and Ernesto R Alberto, senior vice-president and head, enterprise and international and carrier business groups of PLDT and SMART Communications Inc presenting the SMART Pinoy SIM pack to the Philippines Ambassador to Malaysia Jose Eduardo Malaya (centre). Also present were Celcom chief sales and commercial officer Eric Chong (left) and PLDT Global Corp president and CEO Alejandro O Caeg.
According to Bernama, Shazalli said Celcom Axiata is targeting 10% contribution to its total revenue from the MVNO business by 2015.
It has 1.2 million active MVNO subscribers, contributing 5% to the group’s total revenue for the nine-month period ended Sept 30.
Celcom Axiata gained 25 sen to close at RM5.10 yesterday with 10.23 million shares done.
This article appeared in The Edge Financial Daily, December 1, 2011.
