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Pacific Internet Limited Extends its Business Reach into China
PacNet obtains license to provide Internet Data, Internet Access and Fax services
Singapore, Friday, 24 August 2007 - Pacific Internet Limited (NASDAQ:PCNTF), Asia Pacifics largest telco-independent Internet Communications Solutions Provider (ICSP) by geographic reach, today announced that the Ministry of Information Industry (“MII”) of the People’s Republic of China (“PRC”) has approved the grant of a cross-provincial license to the equity joint venture (“EJV”) entity to be set up between PacNet and its China partner Zhong Ren Telecom (“Zhong Ren”), to provide certain value-added services in Mainland China. The MII licence covers three Value Added Services (VAS), namely Internet data centre; Internet access; and “store-and-forward” services.
Mr Phey Teck Moh, President and CEO, Pacific Internet Limited, said, “We are delighted with the MII licence approval. We believe this is among the first licences for value added services that the MII has granted to EJVs in the PRC. China is a fast growing market for IP services. With this license, we can provide services like regional connectivity, Internet access, and Internet data center services to meet the growing business and communications needs of customers in China.”
Mr Phey added, “We have a proven track-record in providing Internet Communications Solutions in seven different countries where we currently operate, and we continuously strive to broaden our overseas coverage, to provide a suite of integrated communication solutions on a regional IP platform. The grant of this cross-provincial VAS license marks a new milestone for the PacNet Group, as we extend our reach into Mainland China. Enterprises in China can benefit greatly as they can enjoy the same high quality services that we have been delivering to customers in the Asia Pacific region.”
Commenting on the grant of the license to the EJV entity, Mr. Eddy Kuk, Managing Director, PacNet Hong Kong, said,“We are excited by the opportunity to serve new customers in China with our innovative service offerings and to deliver value to customers. We first announced our cooperation with Zhong Ren in early 2006. Zhong Ren has since secured an IP-VPN licence for Guangdong province, and has done exceedingly well in establishing its presence in south China. Through this EJV, we look forward to building upon the strengths and experience of Zhong Ren, as well as offering our value added services in other provinces in China.”
Said Mr Henry Lam, Chairman of Zhong Ren, “This is a tremendously exciting milestone for both PacNet and Zhong Ren. Having been involved in the China market for several years, Zhong Ren has accumulated a rich experience and competitive edge in China’s info-communication industry. We believe that PacNet and Zhong Ren share similar values and insights. With the MII license approval, we are confident of taking the lead in market entry, and most importantly, benefiting a large segment of Chinese users.”
PacNet and Zhong Ren are now taking steps to formally set up the approved EJV to market integrated IP communication applications. The strategic alliance will allow both companies to explore synergies in knowledge sharing and the execution of an aligned marketing strategy to capture untapped market potential and growth.
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