ATH group of companies maps out plan for Pacific

By: Dreu Vukailagi

 

ATHFiji’s largest listed entity, Amalgamated Telecom Holdings today revealed their next plan following their purchase of Spanish based entity – Amper in the Pacific.

This will allow ATH to also have a presence in Samoa, Hawaii, the Cook Islands, American Samoa and New Zealand.

At today’s Annual General Meeting shareholders were given an insight on what to expect from this 166 million dollar investment.

While ATH has done well financially it was yesterday’s announcement of acquisition that was also discussed.

Stakeholders were told that with this purchase of Spanish based entity Amper it would give ATH an edge in the Pacific.

” You know the potential for the ATH group and from the shareholders side immediately after this transaction goes through we have access to 5 or 6 markets and the represent great potential for ATH group to leverage extended their services on many jurisdictional for us we see the same benefit as our local consolidation started a few years ago” said Ivan Fong, General Manager, ATH group.

ATH assuring shareholders that their presence will now be felt in countries like Samoa, Cook Island, American Samoa and Hawaii after yesterday’s announcement.

” We think we can bring the same type of benefits cost savings across this market that we going in to work in from the service delivery perspective they are interesting prospect as well the ability to unify the services across multiple jurisdiction to pull together our purchasing interest and have great negotiation power with many of the large vendors in this space and also their number of opportunity we see that we can bring in new products that we would have not been able to do if we don’t have interest and participation on a regional basis

With ATH group recording a Net Profit After Tax of $81.8 million dollars which is an increase of $9.8 million dollars from the previous year this new investment is expected to bring in more revenue.

” At the end of the day you know there is great potential there is a lot of work to be done but we are confident that this things will happen and we will deliver results on this quite shortly as well”

At the moment 6 subsidiary companies fall under the Amalgamated Telecom Holdings group.

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