Asiaspace to invest MYR500 million in WiMAX

WiMAX licensee Asiaspace Dotcom has said it will invest MYR500 million (USD152 million) over the next three to five years to support the rollout of its broadband network, which it expects to launch by the end of the year. Asiaspace also confirmed that it has signed services and facilities agreements with Telekom Malaysia and Fiberail. Asiaspace is one of four companies to be awarded a WiMAX licence by the Government last March. The other three are Redtone-CNX Broadband, Bizsurf (a unit of YTL Corp) and Packet One Networks (formerly MIB Comm).