Thai -Korean teleco JV to launch e-payment gateway

Image from CAT Telecom's website, September 2015

Thailand’s state-owned CAT Telecom is forming a joint venture with South Korea’s telecom operator SK Telecom to offer an e-payment gateway service to the rapidly-growing online business sector in Thailand.

The joint venture, Tree Pay Co, is the first deal that CAT has made with a foreign firm.

According to a source from CAT Telecom, the new company will have registered capital of 200 million baht ($5.7 million), of which 51 per cent is held by the Korean partner and the rest 49 per cent by the Thai firm.

“The JV is set to be announced in the third quarter and expected to generate more than 1 billion baht ($28.6 million) in revenue within five years,” the source said.

It targets to serve both the public and private sectors covering the big corporate companies as well as the small-and medium-sized enterprises.

The State Enterprise Policy Office (SEPO), which was assigned by the government to restructure the state-owned companies including CAT Telecom and TOT Pcl, has ordered the agencies to restructure and merge their core businesses during the next one year.

According to local media, they will turn their transmission and fibre optic networks into National Broadband Network Co with the asset worth 15 billion baht. Their internet gateway and submarine-cable networks will be transferred to be Neutral Gateway Network Co with the assets worth 5 billion baht and their internet data centres will be changed into IDC Co.

CAT runs the country’s international telecom infrastructure including international gateways, satellite, and submarine cable networks connections, while TOT is the telecom service provider.

Also read:

Exclusive: Thailand’s state-owned telecom companies look to raise $281m infra fund in 2016

Indonesia Dealbook: SK Telecom in IoT pact, Fitch upgrades Protelindo rating

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

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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.