By RACHNA LAL and RANOBA BAOA
The Amalgamated Telecom Holdings (ATH) Group has revealed there are a number of other countries “keenly interested” to secure goods and international telecommunication connectivity via Fiji.
This is after Tonga, this week, successfully launched its first-ever high speed internet through Fiji’s Southern Cross Cable connectivity.
ATH general manager, Ivan Fong, has assured more business dealings will be made in the future.
Therefore, ATH’s purchase of the remaining 51 per cent shareholding in FINTEL from the Fijian Government can be seen as a sound decision.
“Now this becomes a lot easier too. You will see also some opportunities in the Pacific we were looking at,” Mr Fong said.
“So in the future, we expect a few more cables and that’s part of ATH is looking at is now try and secure more business in the region as well.”
The acquisition
The $9-million transaction has been funded through a loan from the Fiji National Provident Fund.
The Permanent Secretary for Finance, Filimone Waqabaca, said: “Proceeds from the sale will benefit Government in undertaking infrastructural development for the nation.”
ATH says this essentially brings to a conclusion an objective that has always been in alignment with the Government’s intention from the very beginning when ATH was formed.
ATH, in a statement said it was important for them to ensure that such a strategic asset which provides critical access continues to facilitate the improvement of delivery of end-to-end telecommunication services in Fiji so that the benefits to end users are improved.
“Already internet access in Fiji is amongst the cheapest in the Pacific, even when compared to other more developed economies but we are not going to test on our laurels,” ATH said.
ATH chairman, Ajith Kodagoda, said as an investor, “ATH, makes no apology for trying to improve profits as it is very important for the future sustainability of both the company and the nation.”
Economic growth
ATH sees broadband communication as the platform for the future economic growth of the country.
It says international telecommunications connectivity is a key element.
“We view it especially critical that modern international telecommunications connectivity remains a commercially-viable undertaking not just for now, but for the future generations of this nation,” the statement said.