For Immediate Release
March 13, 1997
NTT to Form Consortium in Bid for Singapore's Second Basic Telecommunications Services License
Nippon Telegraph and Telephone Corporation (NTT) signed a memorandum today to form a consortium with Singapore Technologies Telemedia (STT), Singapore Power (SP), and British Telecom (BT). The consortium is to make preparations for the prior deliberation of qualifications for Singapore's second basic domestic/international telecommunications services license, to be issued mid-1998.
In Singapore, basic telecommunications services are to be completely deregulated in 2000, with two companies, in addition to Singapore Telecom, to be allowed to launch services in that country.
Concerning the second basic telecommunications services license, the Telecommunications Authority of Singapore announced on March 1 that it would commence the prior deliberation of qualifications by May 31.
Under the memorandum, the four companies in the consortium will work together to prepare for the prior deliberation of qualifications while assessing business potential. By drawing on their combined technological and funding capabilities and know-how, the consortium expects to promote business performance.
(Reference)
Profile of Consortium Partners
1. Singapore Technologies Telemedia (STT)
Holding company owned by the government of Singapore and subsidiary of Singapore Technologies (ST), a multinational conglomerate.
The second largest telecommunications carrier in Singapore.
| Services: | Cable TV, Internet, pager, cellular, satellite communications, etc. |
| ST Group sales: | S$2,540 million (190 billion; S$1=75) in fiscal 1994 |
| ST Group pretax profit: |
S$218 million (16 billion) in fiscal 1994 |
| Number of ST Group employees: | 14,500 |
2. Singapore Power (SP)
Established in October 1995 accompanying the privatization of electric power and gas companies in Singapore.
Main activities: Provision of electric power and city gas
| Sales: | S$1,279 million (96 billion; S$1=75) in fiscal 1995 |
| Pretax profit : | S$375 million (28 billion) in fiscal 1995 |
| Number of employees: | 3,600 |
3. British Telecom (BT)
The largest domestic and international telecommunications carrier in the United Kingdom.
To merge with MCI Communications Corporation, of the U.S., in fall 1997 to establish a new company, Concert.
| Sales: | 14,446 million (2.38 trillion; 1=165) in fiscal 1995 |
| Pretax profit: |
3,019 million (500 billion) in fiscal 1995 |
| Number of employees: | 130,000 |
