Polaris, TechTitan form $441k telco JV for PH

Visual from Polaris website

By Tomas S. Noda III

December 20, 2014

Singapore-based holding firm Polaris Ltd, through its subsidiary Polaris Explorer Pte Ltd (PEPL), has tied up with TechTitan Technology Inc (TechTitan) to form a joint venture company with an investment of $441,000 (P15 million), in the Philippines .

The newly-formed company named Polaristitans Philippines Inc (Polaristitans) will carry on the business of importing, exporting, manufacturing, selling, distributing, and marketing of wholesale telecommunication equipment.

Under the deal, PEPL will have 40 per cent shareholding in Polaristitans while TechTitan will own 60 per cent share.

“The board is of the view of pursuing strategic JV opportunities in emerging South East Asia markets and such expansion will reach into new markets and improve margins in support of regional expansion plans,” Polaris said in a statement.

PEPL will fund the investment through its internal resources. Since Polaristitans is a new set up, the joint venture is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of Polaris and PEPL for the current financial year ending December 31, 2014, the company said.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW