23 Apr 2012
Malaysian equipment vendor Green Packet Berhad (GPB) has, through its wholly owned domestically registered Packet One Bhd (P1) subsidiary, sold its 70% stake in Singaporean wireless broadband provider and consultancy and solutions firm Packet One Singapore (P1s) to Green Packet director Dr Tang Pen San. The two sides entered into a share sale agreement for 700,000 ordinary shares in P1s on 19 April 2012; the total cash consideration of the deal was MYR2.45 (USD0.80). Subsequent to the disposal, P1s ceased to be a subsidiary of P1 and has been renamed Mobiliti One International.
According to TeleGeography’s GlobalComms Database, P1 incorporated P1s in October 2009. The unit is engaged in the provision of last mile broadband network infrastructure facilities and services in Singapore. GPB and P1 entered into an agreement with another wireless provider, PacNet, for the transfer of PacNet’s redundant Facilities-based Operator (FBO) licence in Singapore and its associated Wireless Broadband Access (WBA) spectrum rights to the then P1s in a deal valued at USD2.04 million. The successful transfer of the FBO licence (valid for 15 years from the date of its first issuance on 1 April 2000) and WBA spectrum rights on 18 November that year gave P1s access to 30MHz of 2.5GHz spectrum which PacNet acquired at a cost of USD1.4 million in the May 2005 spectrum auction. Mobiliti One International also has the facility to provide international voice traffic through another GPB unit, NGT Networks Ltd.