DGAP-News: Vasseti (UK) PLC / Key word(s): Joint Venture/Strategic
Vasseti (UK) PLC: VASSETI APPOINTS JAPAN´S BOUTIQUE ISP
25.05.2012 / 09:57
VASSETI APPOINTS JAPAN´S BOUTIQUE ISP
By Vasseti IR
Dated 25 May 2012
GL Broadband of Japan appointed as business outsourcing partner to Vasseti
for retail broadband offering in Malaysia.
KUALA LUMPUR - MAY 25, 2012 - Vasseti (UK) Plc (Frankfurt: 1VS) and GL
Broadband (´GLBB´) of Okinawa Japan have signed a partnership agreement,
which paves the way for GLBB to operate retail broadband offering for
Vasseti´s Malaysian subsidiary Vasseti Datatech Berhad.
GLBB is the leading ´Multi-Lingual´ commercial Internet service provider
(ISP/WISP) in Okinawa, Japan. In the last four years GLBB has become a full
range Triple-Play Internet Service Provider and Reseller to Homes, Offices,
other ISP´s, and small to medium size businesses in Japan. GLBB also
services thousands of foreign nationals living in Japan as well as Japanese
Nationals in Okinawa prefecture and growing. GLBB is a popular boutique ISP
in Japan, favoured by expatriates especially from the USA.
On Q4 2010, Vasseti launched the world´s first fixed-line fibre-optic 1Gbps
broadband service using carrier class Metro-E technology. Others around the
world launched 1Gbps service using PON or passive optic network technology
- which in essence cannot deliver true 1Gbps service.
According to the GMD of Vasseti Group, Mr Ranjeet Singh Sidhu, appointment
of GLBB is one of the significant achievements in Vasseti´s broadband
offering to the Malaysian market. Japan has always been the leader in
broadband market - even way ahead of Europe and USA. By competing in such
advance market against dominant incumbents, GLBB has the experience in
strategically winning market share through innovative product offering and
excellent customer service.
Mr Sidhu further elaborated, ´Vasseti has invested several hundred million
of dollars in developing the state-of-the-art network throughout Malaysia.
Now we need experienced people to drive and realise our aspiration. GLBB
has the right kind of expertise, exposure and capability. By outsourcing
our retail broadband business to GLBB, we hope to redefine the way
Malaysian people experience broadband´.
´We are very happy to work with GLBB as they share similar aspiration in
delivering quality product and services. As GLBB is a successful boutique
ISP from Japan, we would like to emulate similar success in Malaysia´ he
added. GLBB, through its holding company Eastern Window Limited (´EWL´) is
represented by its CEO, Mr Paul Edward Foulkes. The signing ceremony
between EWL and Vasseti took place at Concorde Hotel Ballroom - a hotel
owned by Vasseti´s chairman Tan Sri Syed Yusof.
Meanwhile, according to Mr Foulkes, ´We are pleased to enter into this
partnership with Vasseti. We believe Vasseti can leverage on our expertise
to expand their broadband business in the Klang Valley and surrounding
towns and cities´.
CONTACT Investor Relations Team
CATEGORY Telecommunication and Information Technology
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
End of Corporate News
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