OMGtel ropes in funding to bid for 4th mobile operator licence in Singapore

SINGAPORE — Consistel-owned OMGtel on Thursday (March 24) announced plans for a S$1 billion war-chest for investment as it gears up to bid for the fourth mobile operator licence in Singapore. The company has roped in OCBC as financial advisors and said it is currently in the process of finalising 40 per cent (S$400 million) of its total fundraising plans.

Given an already saturated telecom market in Singapore, the company said, its focus will be on technology, innovative network design for improved coverage with higher speeds and consumer-oriented solutions to differentiate itself in the market. OCBC’s appointment, the company said, follows the recent publication of IDA’s Final Decision on the spectrum auction.

“Make no mistake, we have the network designed, we have our implementation plan set, we have our leadership team identified and we will move immediately upon achieving the license. Our mission is to bring exceptional technology to the people of Singapore for a telco experience that is second to none… Our intention is not to be the 4 operator, but, to be one of the leading two. We have the experience, we have the technology, and we are ready to excite the market. We have a long history in the deployment of mobile technology and it is this experience we are bringing in our mobile operator license bid,” said Mr Masoud Bassiri, Chairman of Consistel.

Elaborating on the company’s entry into the Republic’s telecom market, Mr Bill Amelio, the newly appointed CEO of OMGtel said, “What I see in the Singapore market is a competitive environment that is not driving meaningful innovation to consumers. That may be due in part to legacy infrastructure, but it also seems that the existing service providers haven’t been challenged to look beyond their existing models. I firmly believe that this is why the IDA has made the decision to open the market to another telco.”

The company, Mr Amelio added, will focus on developing a “state-of-the-art, and non-legacy network”, and to lead OMGtel in an innovative market approach in bringing new product offerings.

With the experience of designing and installing mobile network capability, Consistel said, it has built more than 800 in-building systems in Singapore, and over 5000 locations regionally for a variety of operators. The company designed and implemented the mobile network at the 35 hectare Singapore Sports Hub. Previously, Consistel was part of the MSI Group that launched 14 operators around the world. The company has also invented a project management software suite – Atrium - that effectively reduces network rollout time by up to 60 percent.

“Together, OMGtel and Consistel are poised to employ new technologies and innovative business models to transform the telecommunications industry. Our model removes legacy and brings innovation. For the consumer, it means rather than checking your screen for a signal, you’re enjoying content on it,” Mr Masood added.