Singapore ISP Pacific Internet has signed an agreement with Thakral Corp. Ltd to form a JV company in China offering technical, marketing and management advisory services to licensed Chinese ISPs.
Under the terms of the MOU, the Chinese ISPs will be given franchise licenses to use the Pacific Internet (PCNTF) brand name and marketing methodology in China.
The parties are presently negotiating with ISPs operating in Shanghai, Beijing and Guangzhou.
Pacific Internet will hold a 51 percent stake with Thakral Corp taking the remaining 49 percent in the joint venture. Thakral Corp will assist the JV company by ensuring regulatory compliance and obtaining the requisite approvals for operation.
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Pacific Internet CEO Nicholas Lee said that the value added by his firm would be "immensely invaluable" in helping the Chinese ISPs develop their ISP operations.
Pacific Internet's venture into China follows their official launch in India on January 25. Group general manager for business development Quek Keng Ngak waxed bullish on the China and India expansions, declaring that Guangzhou, Shanghai and Beijing were merely the beginning and that his firm would ultimately reproduce their PI model to ISPs all over China.
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Get the latest stock market and mutual fund news, quotes and prices and build 05:33 AM, Pacific Internet Limited Extends its Business Reach into China
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Inderbethal Singh Thakral, Thakral Corp's managing director, said that Thakral intends to leverage on their local knowledge of the Chinese market by bringing in major global e-commerce and services players to exploit what he described as "vast opportunities" there.
"We are delighted to team up with Pacific Internet, the leading ISP in Asia, for our first e-services project in China," added Thakral.
Pacific Internet offers Internet access and portal sites in Singapore, Hong Kong, the Philippines, Australia and India.
Thakral Corp. is a Singapore-listed consumer electronics and entertainment software distributor operating a network covering over 150 cities and 4000 dealers across China. Thakral has also formed strategic alliances with 20th Century Fox, Polygram, Warner and Disney to replicate and distribute licensed movie optical discs in China.
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