APAC Telecommunications - Kaili Contract Signed.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 28, 1995-- Steven Tan Steven Tan was a Singaporean footballer in the 1990s, who played in the Singapore national football team as a striker. He was best known for coming off the subs bench and scoring the all-important goals during the Malaysia Cup season, earning himself the nick-name of the , President & C.E.O., announced today that the formal agreement regarding the Company's previously announced joint venture in Kaili City in Guizhou province was signed in Vancouver on December 11, 1995. The signing was in conjunction with a visit to Vancouver by five senior industry and government leaders from Guizhou. Installation of the mobile telephone system is expected to be completed this month and retail handset sales will commence immediately thereafter. Funding for the Kaili project came from funds which had been previously allocated for expansion in Guizhou and for the Company's project in Hubei province. The Guizhou government had urged the Company to expand to Kaili and, in view of delays with approvals in Hubei, the Company decided to postpone post·pone tr.v. post·poned, post·pon·ing, post·pones 1. To delay until a future time; put off. See Synonyms at defer1. 2. To place after in importance; subordinate. Hubei in favour of the Kaili expansion. The planned expansion of the Company's system in Guiyang, the capital of Guizhou, has been delayed for several months due to late delivery of equipment from Stanilite Electronics in Australia. This delay has prevented the Company from capitalizing on the strong demand for handsets in Guiyang. The Company announced that the MPT MPT Maryland Public Television MPT Modern Portfolio Theory (investing) MPT Ministry of Posts and Telecommunications MPT Message-Passing Toolkit MPT Master of Physical Therapy MPT Mitochondrial Permeability Transition has given its consent for the Hubei project but, with other, more profitable opportunities in hand, the Company is deferring action in Hubei until early next year. The Company confirmed that construction of Phase 1 of the Guangdong paging project is completed and retail selling of pagers commenced this week. Funding for Phase 1 came from the previously announced trading profit Trading profit The profit earned on short-term trades of securities held for less than one year, subject to tax at normal income tax rates. trading profit on the sale of pagers and handsets. The Company has not yet decided how Phases 2 and 3 of the Guangdong project will be financed - it may be by way of supplier credit Supplier credit Self-financing of a supplier's operations. Also the agreement of a supplier of goods or services to deferred repayment terms. , bank financing, cash flow, private placement of shares or a combination thereof. Peter McPherson Peter McPherson is an Australian football (soccer) player who currently plays for Australian NSW Premier League side Sydney Olympic. McPherson made one appearance for A-League side Newcastle Jets, coming on as a second-half substitute in the 5-1 defeat to Perth Glory in Chief Financial Officer -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. For further information, call (604) 681-8338. CONTACT: Peter McPherson Chief Financial Officer (604) 681-8338 (604) 681-2388 (FAX) |
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