CarrierNet Global Ltd
CarrierNet Global Ltd. was founded in Singapore in December 1984 as Vikay Industrial Limited. The Company started with the manufacturing of Liquid Crystal Displays ("LCD") and electronics products under the 'Vikay' brand. In 1993, the Group was listed on the Singapore Exchange.
In January 2002, after a comprehensive restructuring of its business operations resulting in the disposal of non-productive and non-performing assets, the Group was re-listed on the Singapore Exchange. Led by a new Board of Directors and new Management team, the Group diversified its business into high growth sectors to enhance its growth prospect.
In July 2004, the Group acquired an integrated 11,119 km two-core high bandwidth optic fibre network covering 13 provinces and all principal cities in rapidly growing eastern China.
The Group was renamed ArianeCorp Limited in August 2004.
With the acquisition of CarrierNet Corporation Limited ("CNET") in March 2007, the Group gained access to CNET's global Voice over Internet Protocol ("VoIP") network and the products and services offered by CNET, including its own VoIP service, VoiceBB, as well as wholesale carrier, retail international direct dial and global calling card products and services.
In January 2008, the Group also completed its acquisition of Uni 3 Pte. Ltd. ("Uni 3") which is a major prepaid calling card and prepaid mobile top up card distributor in Singapore. This enabled the Group to penetrate and access the retail telephony sector in Singapore.
To reflect the strides made in telecommunication/telephony services, the group was renamed CarrierNet Global Ltd. in September 2008.
The Group disposed of its LCD business in 2009. The disposal was part of a restructuring exercise for the group to focus on the telecommunications industry.
In February 2010, the Board is of the view that it is in the best interests of the Company to undertake the Proposed Disposal of its wholly-owned subsidiary, CarrierNet Corporation Limited ("CCL") and its subsidiary, Memphis Telecom Pty Ltd. CCL is engaged in the business of wholesale and retail telecommunications minutes. However, it has been suffering operating losses for the past years and this has been affecting the group’s profitability. The disposal is an effort to streamline the company’s business and to cut costs and improve the Company’s and the group’s performance as a whole.
In February 2010, the Group had also undergone a restructuring exercise to transfer CarrierNet Corporation (Singapore) Pte. Ltd. ("CCS"), which was previously wholly-owned by CarrierNet Corporation Limited, to the Company. The Board has decided to retain CCS because of its strategic relationship with UNI3 (UNI3) Pte Ltd, a wholly owned subsidiary of the Company. UNI3 is a major distributor of prepaid calling cards and telecommunication services in Singapore and is also the exclusive distributor of CCS cards in Singapore. Retaining CCS will ensure that UNI3 will continue to enjoy the higher margin and exclusive distribution rights to QQ, Sunny and Beijing 2008 prepaid calling cards.
In January 2002, after a comprehensive restructuring of its business operations resulting in the disposal of non-productive and non-performing assets, the Group was re-listed on the Singapore Exchange. Led by a new Board of Directors and new Management team, the Group diversified its business into high growth sectors to enhance its growth prospect.
In July 2004, the Group acquired an integrated 11,119 km two-core high bandwidth optic fibre network covering 13 provinces and all principal cities in rapidly growing eastern China.
The Group was renamed ArianeCorp Limited in August 2004.
With the acquisition of CarrierNet Corporation Limited ("CNET") in March 2007, the Group gained access to CNET's global Voice over Internet Protocol ("VoIP") network and the products and services offered by CNET, including its own VoIP service, VoiceBB, as well as wholesale carrier, retail international direct dial and global calling card products and services.
In January 2008, the Group also completed its acquisition of Uni 3 Pte. Ltd. ("Uni 3") which is a major prepaid calling card and prepaid mobile top up card distributor in Singapore. This enabled the Group to penetrate and access the retail telephony sector in Singapore.
To reflect the strides made in telecommunication/telephony services, the group was renamed CarrierNet Global Ltd. in September 2008.
The Group disposed of its LCD business in 2009. The disposal was part of a restructuring exercise for the group to focus on the telecommunications industry.
In February 2010, the Board is of the view that it is in the best interests of the Company to undertake the Proposed Disposal of its wholly-owned subsidiary, CarrierNet Corporation Limited ("CCL") and its subsidiary, Memphis Telecom Pty Ltd. CCL is engaged in the business of wholesale and retail telecommunications minutes. However, it has been suffering operating losses for the past years and this has been affecting the group’s profitability. The disposal is an effort to streamline the company’s business and to cut costs and improve the Company’s and the group’s performance as a whole.
In February 2010, the Group had also undergone a restructuring exercise to transfer CarrierNet Corporation (Singapore) Pte. Ltd. ("CCS"), which was previously wholly-owned by CarrierNet Corporation Limited, to the Company. The Board has decided to retain CCS because of its strategic relationship with UNI3 (UNI3) Pte Ltd, a wholly owned subsidiary of the Company. UNI3 is a major distributor of prepaid calling cards and telecommunication services in Singapore and is also the exclusive distributor of CCS cards in Singapore. Retaining CCS will ensure that UNI3 will continue to enjoy the higher margin and exclusive distribution rights to QQ, Sunny and Beijing 2008 prepaid calling cards.
Rating
0 vote
Listing Details
Address
300 Beach Road #29-01 The Concourse, 199555, Singapore
Telephone
63360900
Website
Code
5BI
Sector
Manufacturing
Reviews (0)