Net proceeds from sale to be mainly used to fund its working capital Part of group’s plan to ‘simplify its core business,’ REDtone says
Telco services provider REDtone International Bhd saw its fourth quarter net profit shrink by almost half, mainly due to lower data revenue.
Celcom Axiata Bhd chief executive officer Shazalli Ramly walked away as ‘ICT Personality of the Year’ at the Pikom ICT Leadership Awards held in conjunction with the national ICT association’s annual gala dinner on Nov 1.
The three shortlisted bidders for the Digital Terrestrial TV Broadcasting (DTTB) infrastructure build -- i-Media Broadcasting Solutions, Puncak Semangat and Redtone Network -- have submitted their proposed business plans for a final round of evaluation by the MCMC.
The government, through industry regulator the Malaysian Communications and Multimedia Commission (MCMC), has finally announced the allocation of the much-anticipated 2600 MHz (2.6GHz) spectrum band to eight operators for the deployment of Long Term Evolution wireless technology.
Maxis Berhad has agreed to provide 3G Radio Access Network (RAN) access across over 1,300 sites to U Mobile under a mutually beneficial multibillion-ringgit agreement, saying this would ensure greater efficiency in services delivery from both companies.
REDtone International Bhd has returned to profitability with a RM1.86 million (US$591,600) profit after tax for the financial ended May 31, 2012, following a RM12.3 million (US$3.9 million) loss after tax in FY11. The profit after tax was mainly driven by significant growth in its data and broadband services, the company said in a statement.