SINGAPORE, 17 July 2000 - SingNet, a wholly owned subsidiary of Singapore Telecom, and Genuity (formerly GTE Internetworking) have announced an alliance to provide customers with
a comprehensive portfolio of seamless global Internet services.
Under the alliance, SingNet and Genuity, will provide their customers in Singapore and the United States with global reach while ensuring local presence in their respective markets.
In addition, SingNet becomes a member of Genuity's Net.Alliance international business partnership program, which enables leading service providers worldwide to deliver comprehensive Internet services to leading e-business customers in their own markets.
"The agreement opens new channels and markets for both companies," said Leong Shin Loong, SingTel's CEO of Multimedia. "Each company will have an expanded reach into international markets. It enables us to extend SingNet's Internet solutions seamlessly from Asia to the United States and similarly for Genuity."
For business and consumers, the partnership means availability of global Internet-based services between the United States/Europe and Asia Pacific.
"The Net.Alliance partnership with SingNet means we can deliver services seamlessly across each other's networks to meet the demands of international business and multinational corporations in the United States and Asia Pacific," said Bruce Linton, Genuity Vice President/General Manager International Services.
"The interconnectivity and requisite Service Level Agreements are in place to deliver industrial-strength solutions that allow companies to utilize and deliver mission-critical applications over the Internet."
SingTel's turnover and net profit in 1999/2000 were S$4.87 billion (US$2.86 billion) and S$1.85 billion (US$1.09 billion) respectively. Listed on the Singapore Exchange, SingTel is Singapore's largest company in terms of market capitalisation (about US$22 billion).
The SingTel Group has investments worth about S$7 billion (US$4.12 billion) in 72 joint ventures and associated companies in 20 countries including Thailand, the Philippines, Indonesia, Taiwan and Belgium. Overseas investments currently contribute 15 per cent of the Group's pre-tax profit.
Genuity a leading e-business is a network provider of quality, managed Internet infrastructure services to enterprises and service providers.
As part of its Net.Alliance Partner Program and on-going international expansion, Genuity utilizes its own high-speed, high-capacity networks as well as other international networks.
In the past year Genuity has acquired fibre-optic infrastructures with trans-Atlantic and trans-Pacific reach that create new points of Internet and hosting access connecting Europe, Pacific Rim, Latin America and the United States.