PacNet announces major initiative to triple annual revenues

Having completed a 100-day strategic review of his new company, Pacific Internet (PacNet’s) incoming CEO, Phey Teck Moh, has announced ambitious plans to triple annual revenues in the next five years through its action plan. PacNet, which is currently a takeover target of MediaRing, aims to grow the business by expanding PacNet’s geographic footprint by moving into underdeveloped broadband markets such as China, India and Indonesia, exploit so-called ‘disruptive’ technologies, in particular wireless broadband, and increase revenues from IP-based value added services. It is also looking to grow the business through acquisitions or joint ventures in regional markets