Nanning, 07 January 2010 – Bursa Malaysia Main Board listed Green Packet Berhad (“Green Packet”), a leading developer of WiMAX products and solutions, has signed a “Heads of Agreement” (“Agreement”) with ZTE Corporation (“ZTE”), a leading global provider of telecommunications equipment and network solutions, during the Forum on China-ASEAN Free Tree Area (“CAFTA”) held in Nanning City of Guangxi Zhuang Autonomous Region, The People’s Republic of China today.
The Agreement specifies a strategic alliance between the two companies in which ZTE may provide a vendor financing package of up to US$150million (RM509million) to Green Packet for design, supply, installation, integration, and maintenance of telecommunications equipment to support the company’s WiMAX network roll outs in Malaysia, Singapore and any other markets. Through this Agreement Green Packet may have access to a credit line and financing facilities of up to US$150m (RM 509m) based upon its current demand forecast. Any increase in the total value of the equipment financing would be reviewed as the need arises.
”This is a very significant strategic move for both Green Packet and ZTE. As we seek to maintain our leadership position in the WiMAX space worldwide, we need to build relationships with strategic vendors and partners that believe in the future of the industry and committed to developing the technology and the business,” states CC Puan, Group Managing Director and CEO of Green Packet, during the signing ceremony.
“Green Packet is fast emerging as a key player in the WiMAX space, both as a product developer and a 4G WiMAX operator,” said Dr Pang Shengqing, Senior Vice President of ZTE. “We are delighted to have secured Green Packet as a long term customer for our outstanding telecommunications equipment and services. Green Packet delivers strategic value to ZTE and we look forward to through this collaboration to be in a position to showcase our market leading solutions to WiMAX and telecommunications operators worldwide.”
Mr Puan adds, “This financing solution is advantageous to our entire network of stakeholders to accelerate the delivery of our business strategies.”
Green Packet is committed to advancing the WiMAX business and technology globally. The company is differentiated in the international WiMAX space with its end-to-end business model of supplying innovative WiMAX products and solutions as well as operating one of the world’s largest LIVE nationwide networks via its 4G WiMAX operator arm Packet One Networks (Malaysia) Sdn Bhd or “P1”in Malaysia.
This signing event was witnessed by Mr Jiang Zhenghua, Vice Chairman of the 10 th Standing Committee of the National People’s Congress of China, Mr Guo Shengkun, Secretary of CPC Guangxi Committee and Chairman of the Standing Committee of People’s Congress of Guangxi, Mr Ma Biao, Governor of Guangxi Zhuang Autonomous Region of China, and Yang Berhormat Datuk Mukhriz bin Tun Mahathir, Deputy Minister of Ministry of International Trade and Industry. The investment forum and field trip to the Guangxi Zhuang Autonomous Region is aimed at fostering and promoting investment activities between China and Malaysia in view of the recent and significant establishment of the CAFTA, which covers an area of 13 million square kilometres with a population of 1.9 billion people - presenting enormous investment opportunities between China and ASEAN.
About Green Packet Berhad
Listed on the Main Board of the Malaysian Bourse, Green Packet Berhad (“The Group”) aims to be the visionary global leader providing best connectivity to enrich lives. Bringing forth best-of-class technologies, devices and services to simplify and enhance connectivity and communications, The Group fulfills a wide array of targeted needs by employing its two key business pillars of Products & Solutions and Converged Communications Services; the latter via 4G WiMAX operator and service provider arm, Packet One Networks (Malaysia) Sdn Bhd; 4G WiMAX global services, Packet One International Pte Ltd, and provider of discounted and wholesale voice services via its Alternative Voice Services group. For more information, visit: www.greenpacket.com
About ZTE
ZTE is a leading global provider of telecommunications equipment and network solutions. It has the widest and most complete product range in the world – covering virtually every sector of the wireline, wireless, service and terminals markets. The company delivers innovative, custom-made products and services to over 500 operators in more than 140 countries, helping them to achieve continued revenue growth and to shape the future of the world’s communications. ZTE commits around 10% of its annual turnover to research and development and takes a leading role in a wide range of international bodies developing emerging telecoms standards. ZTE leads China’s 3G industry with about 30% share of the total 3G equipment market in 2008. A company with sound corporate social responsibility (CSR) initiatives, ZTE is a member of the UN Global Compact that strictly adheres to the Ten Principles of the Global Compact in developing and carrying out CSR programs. ZTE is China’s only listed telecoms manufacturer, with shares publicly traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock code: 0763.HK / A share stock code: 000063.SZ ). For more information, please visit www.zte.com.cn.
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