Chunghwa Telecom to build new subsidiaries in Japan, Singapore
Chunghwa Telecom Co. (CHT), Taiwan’s largest telecommunications and Internet service provider, announced Friday it plans to set up wholly-owned subsidiaries in Japan and Singapore.
According to the company’s annual report, its Board of Directors has approved the plan. Capital of NT$1.2 billion has already been infused into each of the new subsidiaries, which are scheduled to begin operations in the third quarter of this year, providing local users with business extension, technology services and sales support.
The Taiwanese company expects to earn 20% of its revenue from abroad in five years, Chairman and Chief Executive Ho-Chan Tan said earlier in an interview.
Tan said CHT is seeking good opportunities to invest overseas because of the increasingly fierce competition and a nearly saturated market in Taiwan.
CHT has established a joint venture with Vietnamese military-backed operator Viettel to provide Internet data center services in Vietnam. This venture, scheduled to begin operations in the third quarter of 2008, was CHT’s first investment outside Taiwan.
Ho also revealed that Chunghwa also plans to establish a joint venture with a Thai company in near future, but declined to give any detailed information.
Tags: Taiwan, telecom