Malaysian telecom launches $100 million fibre optic network
Islamabad, August 31 2005: Multinet Pakistan, a subsidiary of Telekom Malaysia Bhd, on August 30 launched the second phase of a $100-million 4,500-kilometer long fiber optic network that will link 77 cities across the country.
“We have come here and taken a stake in Multinet; we are going to put $100 million to build the national fiber optic backbone,” Nur Jazlan, chairman of Multinet Pakistan and a member of the Malaysian parliament, said at the inauguration.
He added the company was willing to help Pakistan develop its telecommunication network. “We think if we get this right, profits will flow later. We should get a good return from the investment,” Jazlan said.
In February, Telekom Malaysia through its international investing arm TM International Ltd. (TMIL) acquired a 78 percent stake in Multinet Pakistan. Soon afterward, it announced the fiber optic backbone network project.
In a statement on Tuesday, the company said the project was likely to be completed in 12 months. Multinet has some of Pakistan’s largest companies such as Habib Bank, Sui Southern Gas Co. and Avari Hotels and multinationals as clients.
Source: Daily Times
Date:8/31/2005
” 
” 
” 
” 
” 
