Telephone Electronics Corp. (TEC) subsidiary TecNet Inc. will enter Singapore's liberalized telecommunications market through an agreement with local company Inno-Pacific Holdings Ltd. (IPH), the companies announced Wednesday.
TEC, based in Jackson, Mississippi, is one of the largest privately-owned telecommunications companies in the U.S. and last year signaled its intention to expand its worldwide network.
TecNet and IPH will jointly set up a company called IP Tec Telecom Pte. Ltd. to offer a variety of telecommunications services in Singapore and other Asian countries when appropriate, the companies said in a statement made to the Singapore (stock) Exchange (SGX).
Singapore's telecommunications market was completely liberalized on April 1, but few major players have so far entered the market to compete with incumbent Singapore Telecommunications Ltd. (SingTel) or StarHub Pte. Ltd., which began operations as the second carrier on April 1.
According to the statement to SGX, services to be offered by IP Tec will include:
-- establishing international and domestic broadband telecommunication networks for the needs of communication carriers and ISPs (Internet service providers), and other wholesale and retail customers, including multinational corporations;-- providing IDD (international direct dial) and VOIP (voice over Internet Protocol) services between carriers in the region and within the domestic market;-- mobile and wireless telephone and data services;-- Internet content services, such as videoconferencing, videophone services, Web-TV, electronic commerce, advertising, Internet games, education and medical on-line services, and-- call centers and retail kiosks.
The partnership has been formed between two of the more unlikely players in the strategic international telecommunications industry.
TEC began as a family business operating a manual telephone exchange in the small town of Bay Springs, Mississippi; IPH's main business continues to be fast-food franchising, having started out life as Colonel Sanders Kentucky Fried Chicken Pte. Ltd.