Tuesday, December 05, 2006

Media Release

Asset Media Completes CBN SAT Transaction
Services Go Live in Test Mode

Colombo, Sri Lanka, 2nd December 2006, Dialog Telekom Limited announced today that its subsidiary Asset Media (Private) Limited, had completed the acquisition of Communiq Broadband Networks (Private) Limited and CBN Sat (Private) Limited (hereinafter collectively referred to as “CBN SAT").

Following the completion of the acquisition of CBN SAT by Asset Media, the Direct to Home Satellite TV operations of CBN SAT will commence under the management of Asset Media, the Television Broadcasting subsidiary of Dialog Telekom Ltd.

Asset Media sources confirmed that transmission of CBN SAT services would commence in test transmission mode on or around the 2nd of December and would be uplifted to full commercial operations within a few days.

The acquisition was also followed by the appointment of a new Board of Directors for the acquired companies comprising of Mr. Yusof Annuar Yaacob (Chairman), Dr. Hans Wijayasuriya, Mr. Nihal Seneviratne Epa, Mr. Moksevi Prelis, and Mr. Wan Zaidan Wan Mahyudin.

Dialog Telekom termed the acquisition of CBN SAT as a key milestone in the group's strategy of achieving a quadruple play (Mobile, Fixed, Broadband, Television Media) product proposition for Sri Lankan consumers. This will result in Dialog Telekom making transformational investments in Digital Broadcast infrastructure targeting digital
terrestrial broadcast, Direct to Home (DTH) and Mobile Television service provisioning" a company source stated.

About Asset Media
Asset Media is a subsidiary of Dialog Telekom Ltd., and is licensed by the Ministry of Media to provide Television Broadcasting services, delivery of Pay Television and Cable Television Services and the operation of a Television broadcasting station.

CBN SAT is a Direct to Home Satellite TV service operated by Communiq Broadband Network (Pvt) Ltd, a fully owned subsidiary of Asset Media. CBN SAT supports a broad array of International content including CNN, BBC, HBO, Cinemax, AXN, ESPN, Discovery Channel, MTV (Music Television) and Cartoon Network, in addition to a wide portfolio of Sri Lankan television channels. CBN SAT services are based on cutting edge DVB-S digital broadcast infrastructure and reach out to over 20,000 Sri Lankan homes as of December 2006.

About Dialog Telekom Limited
Dialog Telekom Limited is the largest mobile operator in Sri Lanka with over 3Mn subscribers representing over 60% market share in the cellular sector. Dialog Telekom is also the largest listed company on the Colombo Stock Exchange in terms of Market Capitalisation with a market capitalisation (as of 30 September 2006) of LKR 161.02 Bn (USD 1.57Bn).

Dialog Telekom Limited is a subsidiary of Telekom Malaysia International and a member of the Telekom Malaysia Group. In addition to its core mobile telephony business, the company provides international services, supporting an International Gateway infrastructure providing retail and wholesale international voice and data services under the brand name of Dialog Global. The company also provides Internet services through
Dialog Internet - a fully-fledged Internet Service Provider (ISP). Dialog Telekom also operates Dialog SAT, a mobile satellite service.


Max Payne said...

Mr. Muhunthan Canagey, you are a real HERO. You have my great respect, which I don’t have even for the top most position in this country. I give my word as a man, you will be in our hearts forever. It’s very sad to say good bye to the HERO who fought in the battlefield. But we know that, you made that decision because of the CBNSat customers. I would like to take this opportunity to THANK YOU for all your efforts to take Sri Lanka to the next level risking everything including your life. WISH YOU noting but the BEST! Hats off to you Mr. Muhunthan Canagey

prabakaran said...

In country like srilanka, tamils will not living in peace and doing business peacefully.Muhunthan Canagey's clever decision will spare him atleast now.