This printed article is located at http://telechoice.listedcompany.com/news.rev
Singapore, 18 May 2004
TeleChoice International Pte Ltd ("TeleChoice"), a regional provider of mobile telecommunications equipment and solutions, today announced that it has lodged its preliminary prospectus with Monetary Authority of Singapore ("MAS"). The company, a subsidiary of Singapore Technologies Telemedia Pte Ltd ("ST Telemedia"), a leading information-communications company with operations in Asia-Pacific, the Americas and Europe, has also received an eligibility-to-list letter for a Main Board listing on the Singapore Exchange Securities Trading Limited ("SGX-ST").
DBS Bank has been appointed as the Manager, Underwriter and Placement Agent for the proposed initial public offering.
Mr Clive Lim, President and Executive Director of TeleChoice, said, "We are pleased to have received the eligibility-to-list letter from the Singapore Exchange Securities Trading Limited. We believe investors can now invest in a company that is expanding into the region, riding on the growth opportunities of the regional telecommunications markets."
Incorporated in Singapore in 1998, TeleChoice started with the distribution of mobile handsets and accessories locally. Today, TeleChoice has operations spanning the Asia Pacific region, including Singapore and Indonesia, Australia and Malaysia, and has also established a presence in Thailand and the Philippines.
The company has maintained a healthy balance sheet and its revenue increased by 46%, from approximately $220 million in FY2001 to $320 million in FY2003.
TeleChoice provides a diverse range of telecommunications equipment and solutions to different segments of the telecommunications industry, which includes mobile network equipment providers, mobile network operators, enterprises and retail customers. In addition, it also provides international long-distance call services under "SunPage iDD 1521" and "SunPage International Calling Card", as well as mobile network and engineering services and solutions.
Its customers and principals include StarHub Pte Ltd and PT Indonesian Satellite Corporation Tbk, and Mitsubishi, Motorola, Nokia, Samsung and Sony Ericsson respectively.
Mr Lim added, "TeleChoice's growth can be attributed to our established regional presence and distribution network of over 1,000 retailers, dealers and sub-distributors across Singapore, Indonesia, Australia and Malaysia (as at 31 December 2003). In addition, our good relationships and rapport with our major principals has affirmed our abilities. We have also maintained a track record of profitability and leadership position in competitive markets within the telecommunications industry in Singapore."
"The technological advances, together with the demand for traditional and sophisticated telecommunications products and services in growing and mature markets respectively, create a potentially large market potential for us. We expect to ride this industry growth trend by leveraging on our core competencies including our marketing expertise, offering a broader and more diversified range of products and services and expanding our geographical presence in the region." Mr Lim concluded.
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About TeleChoice International Pte Ltd
Incorporated in Singapore on 28 April 1998, TeleChoice International Pte Ltd ("TeleChoice") is a regional provider of mobile telecommunications equipment and solutions. The company is a subsidiary of Singapore Technologies Telemedia Pte Ltd ("ST Telemedia"), a leading information-communications company with operations in Asia-Pacific, the Americas and Europe.
TeleChoice provides a diverse range of equipment and solutions to different segments of the telecommunications industry, which include mobile network equipment providers and mobile network operators, enterprises and retail customers requiring mobile handsets and accessories. In addition, it also offers telecommunication services such as international long-distance call services and mobile network and engineering services and solutions.
Headquartered in Singapore, TeleChoice has operations in the Asia-Pacific region, including Indonesia, Australia and Malaysia and has established a presence in Thailand and the Philippines.
Its customers and principals include StarHub Pte Ltd and PT Indonesian Satellite Corporation Tbk, and Mitsubishi, Motorola, Nokia, Samsung and Sony Ericsson respectively.
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