(12 December 2017, Hong Kong) – Comba Telecom Systems Holdings Limited (“Comba Telecom”, Hong Kong stock code: 2342), a global leading wireless solutions provider, is pleased to announce that the Board has approved the investment plan in ETL (the Company’s 51% owned subsidiary) for building up its 4G LTE Network (“4G project”).
In terms of the investment plan, the Company expected the aggregated capital expenditure for the 4G project would not exceed US$ 110 million, which will be used for the purchase of equipment, technical support, consulting services, leasing for sites and equipment, network design and etc. The Company will enter into procurement agreements with various equipment suppliers and services providers based on arm’s length negotiations and on normal commercial terms.
Mr. WU Jiang Cheng, Special Assistant to President of the Group and Director and General Manager of ETL, said, “As one of the major countries and strategic fulcrums along the regions covered by the “Belt and Road” initiative proposed by the PRC, Lao P.D.R owns distinct geo-economic advantages, it is a key boundary crossing point connecting the PRC and other Southeast Asia counties, particularly, upon the completion of construction of the China-Laos Railway, the position for Laos will be gradually improved in the regional economic cooperation, which provides convenient port access for the cross-border trading and investment between the PRC and other Southeast Asia countries. Since the completion of the acquisition of ETL, the Company has been actively engaged in various work such as network analysis, network planning, investment planning and etc., which aims to promote the development of telecommunication network, telecommunication services, value-added services and other services in Lao P.D.R at a fast pace.”
Mr. Zhang Yuejun, Vice Chairman and President of Comba Telecom, said, “We are glad that all the work progresses smoothly and actively after the completion of the acquisition of ETL. In recent years, Lao P.D.R’s economy continuously grows at a fast speed, it is the fastest growing country in Southeast Asia which maintained a minimum gross domestic product growth of around 7%. With the vigorous promotion of the “Belt and Road” initiative and the establishment of China-ASEAN Free Trade Area, on the one hand, it lays a solid foundation for the trading relationship between China and Lao P.D.R, on the other hand, it provides a favorable development environment and convenient access for Comba Telecom to carry out its telecommunications business. With more than 20 years’ competitive advantages and abundant experience in network construction, products technology and services, operation management and etc, the Company will accelerate its business penetration in the telecommunications market in Lao P.D.R so as to achieve appreciation of its business model.”