M1 prepares for future expansion
Loo Po Li, 18-Jun-2001
Although currently still very Singapore-centric, Mo-bileOne (M1) has plans to make its mark elsewhere.
Neil Montefiore, CEO, MobileOne Asia, intends to extend M1’s reach beyond the island nation. However, it cannot carry out any plans until “the the final shareholdings are confirmed”, he said. “We have regional ambitions but cannot execute them yet, but I think the [M1] brand name will carry well,” he added.
The Keppel Group and Singapore Press Holdings presently hold a 35% stake each and Great Eastern Telecommunications (GET) holds 30%. GET is a joint venture between Cable & Wireless (51%) and Pacific Century CyberWorks (49%).
Should M1 extend its presence in the region, it will enter the less developed markets where there is “somewhere to go”, he said. More competitive markets like Hong Kong are “slightly Russian in how they compete”, where price undercutting is not uncommon, he said. Regional expansion need not be equity investments but could also be in products and services, he said.
Besides expanding physically, the company has also been expanding its services and capabilities. In 2001, the company will be building up its non-voice services.
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