Digicel Asian Holdings’ Association With Ooredoo Myanmar Envisages A New Horizon In Telecommunications

In their pursuit to implement a topnotch telecommunication network across the Republic of Union of Myanmar, Ooredoo Myanmar has consorted with Digicel Asian Holdings. The agreement signed between these two entities will allow improving, constructing and leasing telecommunication towers. The Myanmar Tower Company, under the proprietorship of the Digicel Asian Holdings, will be one of the many telecommunication tower companies who will begin construction in Myanmar. These multi-tenancy towers will provide assistance to the telecommunications operating companies to reach their objective of implementing first-rate telecommunication coverage across the country.

The Digicel Asian Holdings is the reorganized syndicate of First Myanmar Investment Co. Ltd with the Digicel Group and YSH Finance Ltd. Both the related companies are hopeful about this joint venture to improve the telecommunication system in the Republic of the Union of Myanmar. The Chairman of the Digicel Group Mr. Denis O’Brien commented on the announcement by stating that they are delighted at the opportunity to work with Ooredoo. They are expecting that this association will lead to the establishment of an excellent and efficient telecommunications network across the Republic. Furthermore, this will contribute to the development of the Myanmar economy as well as benefit the citizens of the states, regions and union territories of Myanmar.

The YSH Finance Ltd comprising of Yoma Strategic Holdings Ltd and First Myanmar Investment Co. Ltd are equally pleased by this joint venture, as apparent from the statement made by the Chairman Mr. Serge Pun. He claimed that the announcement is symbolic in its significance as the necessary step leading to the economic and social improvement of the Republic of the Union of Myanmar. He added that he was looking forward to working in close proximities with the Government, local companies, authorities and telecommunication operating companies in Myanmar.

This initiative taken by the Digicel Group Limited is reflective of the other community based projects hosted by the company. The company has a host of foundations focusing on the various aspects of economic, cultural and educational scenarios for developmental purposes. These Digicel Foundations are established in Jamaica, Haiti, Trinidad and Tobago and Papua New Guinea. Foremost among the global telecommunications providers, Digicel Group has operations in 31 markets across Caribbean, Central America and Asia Pacific. Renowned for delivering the best in the value, network and service, the company has a total investment of over 4.5 billion US dollars worldwide.

YSH Finance Ltd, on the other hand, is a segment of the SPA Myanmar Group. The latter is one of the leading conglomerates in Myanmar, dabbling in a variety of business sectors, including financial services, automobile distribution, agriculture, real estate development, retail and tourism. YSH Finance is owned by the FMI or First Myanmar Co. Ltd, which is set up by Mr. Serge Pun. The FMI, a public company within the SPA Myanmar Group, is highly active in a range of activities concerning Myanmar. The firm is interested in taking a corporate approach to construct a diversified portfolio of related businesses within the Republic of the Union of Myanmar.