HONG KONG, Feb. 9 /Xinhua-PRNewswire-FirstCall/ -- MobileOne Ltd (M1) and Hong Kong Broadband Network Ltd (HKBN), a wholly owned subsidiary of City Telecom (HK) Limited (Nasdaq: CTEL), have announced that they have signed a Memorandum of Understanding (MoU) to work together to participate in Singapore's Next Generation National Broadband Network (NBN) project.
Pursuant to the MoU, M1 and HKBN have responded to the invitation by the Infocomm Development Authority of Singapore (IDA) to participate in the Pre-Qualification Exercise and Competitive Dialogue (IPCD) for the NBN project. Their joint response was submitted to IDA this morning.
"The National Broadband Network is an excellent initiative by the government to create a comprehensive world-class broadband infrastructure for Singapore. Its desired outcome of providing nationwide ultra-high speed broadband coverage at competitive and affordable prices will spur adoption of high speed broadband services. We fully support these objectives and see opportunities for M1 in this initiative to develop new areas of growth beyond our existing wireless business," said Neil Montefiore, Chief Executive Officer of M1.
"Since inception, HKBN has relied on innovation and entrepreneurial spirit to successfully compete against better established operators, such that we are now the largest alternative end-to-end telecom operator in Hong Kong. Currently, our network supports a wide range of affordable symmetric broadband services up to 1Gbps, which is based on an optimised combination of both Fibre-to-the-Home ("FTTH") and Fibre-to-the-Building ("FTTB") connections. Surging demand for bandwidth proves that high speed broadband service is nowadays a necessity for work and play. More importantly, our established track record of lowering costs for network rollout thus bringing consumer benefits matches perfectly with the objectives of the Singapore NBN project," said Ricky Wong, Chairman of HKBN.
Note to Editors
The Next Generation National Broadband Network is part of the Singapore Government's 10-year infocomm masterplan that will transform the country into an Intelligent Nation and Global City, powered by infocomm. For more details, please visit http://www.in2015.sg
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