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Tag: Telenor

  • Telenor, Jazz awarded Rs680 mn next generation broadband project

    Telenor, Jazz awarded Rs680 mn next generation broadband project

    ISLAMABAD: The Ministry of Information Technology on Wednesday approved award of contracts to Telenor and PMCL (Jazz) worth Rs680 Million in total for Kurram and Sanghar Lots.

    PMCL (Jazz) is being awarded the contract of Kurram Lot while Telenor is being awarded the contract of Sanghar Lot under Next Generation Broadband for Sustainable Development (NG-BSD) Programme.

    Federal Secretary Ministry of Information Technology and Telecommunication Shoaib Ahmad Siddiqui chaired 68th Board of Directors meeting of Universal Service Fund Company here on Wednesday.

    Chairman PTA Maj Gen (R) Amir Azeem Bajwa was also present in the meeting.

    This project is part of the inclusive approach of the Government and to strengthen the pillar of connectivity under Digital Pakistan.

    During the meeting Chairman USF Board and Secretary IT was apprised about the progress of USF projects. The Hi-speed Broadband services in Kurram Lot will benefit an unserved population of approximately 400,000 thereby covering 200 unserved muazas and an approximate unserved area of 2,900 sq. km.

    Kurram Lot encompasses Frontier Region Kurram, Lower Kurram and Upper Kurram tehsils. Similarly, an unserved population of approximately 1.4 million will gain advantage from Hi-speed Broadband services in Sanghar Lot.

    The Lot consists of Sanghar and Umerkot districts with an approximate unserved area of 12,000 sq. km and 500 unserved mauzas.

    The Chairman USF Board and Secretary IT, Shoaib Ahmad Siddiqui emphasized on connecting the people of Pakistan who did not have access to latest ICT facilities.

    He also said these projects will bring the people of Kurram and Sanghar at par with the wider society and helpful in solving the problems of illiteracy, poverty and unemployment.

    Furthermore, the Federal Secretary welcomed Prime Minister’s most recent expression of support for the continued and ongoing work of Digital Pakistan.

    He stressed the importance of the Ministry of IT and Telecom remaining closely engaged to support and encourage implementation of the vision.

    In addition to this, he also acknowledged other board members’ valuable contribution to make advancements in implementation of USF projects.

    The Board greatly appreciated Chairman USF Board and Secretary IT for providing guidance and wisdom to accomplish USF mission.

    Other board members comprising Shabahat Ali Shah, Executive Director, NITB; Ifran Wahab, CEO-Telenor Cluster Head for Emerging Asia and Nominee of Mobile Cellular Operators; Imran Akhtar Shah, VP for Government Sales, Super Net Pvt Ltd and Nominee of Data Licensees; Rashid Khan, CEO PTCL and Nominee of Fixed Line Operators; Kaukab Iqbal, Chairman, Consumer Association of Pakistan and Nominee of Consumer Group and management of USF Co. also attended the meeting.

  • TPL Trakker plans IPO to raise Rs1.4 billion for vehicle, container tracking business growth

    TPL Trakker plans IPO to raise Rs1.4 billion for vehicle, container tracking business growth

    KARACHI: TPL Trakker is planning for an Initial Public Offering (IPO) to raise Rs1.4 billion in order to grow vehicle and container tracking business, analysts said on Tuesday.

    TPLCorp Limited (TPL) held a Corporate Briefing on November 18, 2019 to discuss the financial results of FY19 and future outlook of the company, said analysts at Arifh Habib Limited.

    In order to further grow in the vehicle and container tracking business, IoT Business as well as expand into markets abroad, TPL Trakker will file for an IPO, aiming to raise PKR 1.4 billion.

    Moreover, the company is in talks with two foreign strategic investment partners for equity injection.

    TPL Group includes TPL Trakker Limited, TPL Insurance, TPL Properties, TPL Life, TPL Maps, TPL Security Services Private and TPL Rupiya.

    Despite decline in sale of vehicles, TPL Trakker business reported revenue growth of 7 percent YoY led by Container Tracking and new IoT Business.

    During the year, the company launched four IoT businesses (video telematics, fuel management solution, water management solution and smart warehousing and inventory management) and usage based insurance.

    Moreover, the company is also venturing into software-as-a service platforms, such as Pay-How-You-Drive Insurance and Predicative Maintenance.

    Though, investment in new business initiatives and higher interest rates led to decline in Bottom-line of the business by 63 percent YoY in FY19, the analysts said.

    TPL Maps and TPL Rupiya are now merged with TPL Trakker Limited since these companies will benefit from TPL Trakker’s large customer base along with TPL Trakker benefiting from technical expertise of TPL Maps.

    TPL Maps during the year has developed four new solutions; i) goconnect (location based advertising service), ii) LEAP (solution with respect to demographics, based on location), iii) TPL Maps Service (serving clients such as Bykea, Ufone, Telenor, Cheetay and Eat Mubarak) and DART (solution related to workforce and supply chain monitoring, currently serving KFC and Dominos).

    Furthermore, TPL Maps Solution will be making its way in Middle East market in 2020, partnering with HERE Technologies.

    In order to further grow in the vehicle and container tracking business, IoT Business as well as expand into markets abroad, TPL Trakker will file for an IPO, aiming to raise PKR 1.4bn.

    Moreover, the company is in talks with two foreign strategic investment partners for equity injection.

    TPL Insurance has entered into the company’s first livestock insurance covering 2000 cattle’s in Thar District.

    Furthermore, Afghan Transit Trade Guarantee was also initiated in July 2019. Other than this, TPL has also entered into partnerships with nine companies in Pakistan.

    The company has also launched a mobile app which can instantly start insurance plans without many formalities and documentations.

    In the TPL Properties Business, the revenue has climbed up by 8 percent YoY in FY19, on account of growth in rental income.

    Furthermore, the company has ventured into providing real estate development services to corporates.

    However, due to cessation of commercialization in Karachi land acquisition of Project Alpha has been delayed.

    Whereas, for Project Beta a new real estate commercial land is being acquired, which will be used for mixed purposes such as Hotels and offices.

    Furthermore, One Hoshang Project, which will be a residential apartment tower and showroom, is slated to be completed in 2023.

    Moreover, the company is underway to enter into REIT management business. With this, Centre point building will be included in REIT Scheme. Along with this the company also plans to setup Logistics Park.

    In TPL Life Business, the topline has seen 31% YoY in FY19, amid time based life insurance via mobile. The company offers usage based life insurance for individuals through mobile app.

    Also TPL Sahulat, health solution via mobile app, is also successful. The app offers doctors at home, delivery of medicines at home, lab tests at home and settlement of claims. Furthermore, in order to target low income earners the company offers Life Insurance through scratch cards, available at as low as Rs375. For the purpose of growth, the company seeks funding of PKR 400-500 million.

    The company is currently working on developing a social and corporate messaging platform (Tello Talk) which will enable the users to transfer payments and manage transactions with businesses.

    Furthermore, its rider service app will provide a delivery platform to e-tailers (online retailers).

    Overall, consolidated profit after tax of TPL Corp plummeted by 74 percent YoY, settling at Rs172 million in FY19 against PKR 670 million in the FY18.

    This massive decline is attributable to Pak Rupee devaluation against USD, and interest rate hikes.

  • Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    KARACHI: Enfrashare Pakistan Private Limited and Telenor Pakistan, one of Pakistan’s top mobile network operators, have signed an agreement to develop connectivity infrastructure, a statement said on Tuesday.

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