May 10, 2006, 14:57 GMT
Singapore - Pacific Internet (PacNet) is seeking overseas acquisitions and partners as part of a plan to treble its revenues over the next five years, the chief executive officer said in a published report on Thursday.
The Nasdaq-listed PacNet recorded sales of 102.5 million US dollars last year and has operations in Singapore, Hong Kong, Thailand, India, the Philippines, Malaysia and Australia.
The Singapore-based internet service prover is planning to expand into China, further into India and Indonesia, CEO Phey Teck Moh told The Business Times.
'In China, there is a lot of potential,' Phey was quoted as saying. 'There are restrictions, but they are not insurmountable.'
The company is also planning to launch commercial wireless networks in at least five Asian countries over the next few years, he said.
These moves will allow developing countries to get up to speed with their wired counterparts without having to invest in expensive fixed-lined infrastructure, he added.
Phey acknowledged the plans are likely to hinge on the outcome of a takeover bid by MediaRing, which received the green light from its shareholders and the Infocomm Develoment Authority of Singapore last month.
MediaRing is expected to make a takeover offer in the coming weeks.
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