Telecompaper Africa/Asia articles from November 2006

Telecompaper Africa/Asia archives from November 2006

Asia - Asia Netcom to supply internet bandwidth to IP Converge.
November 30, 2006... (From Telecompaper Africa/Asia) Asia Netcom has signed an agreement with IP Converge for the provision of internet bandwidth over a dedicated private leased circuit. This directly connects IP Converge's data centre facility in the...

Australia - Coonan urges Telstra to expand ADSL2+ broadband in Australia.
November 30, 2006... (From Telecompaper Africa/Asia) Australia's Minister for Communications, IT & the Arts, Senator Helen Coonan, has expressed support for calls by ACCC chairman Graeme Samuel for Telstra to 'flick the switch' on ADSL 2+ broadband in its...

Australia - Zamro chosen to audit Telstra CDMA network coverage.
November 30, 2006... (From Telecompaper Africa/Asia) The Australian Communications & Media Authority (ACMA) has chosen Australia-based Zamro International to carry out the benchmarking audit of service coverage of Telstra's CDMA mobile phone network vs its...

Australia - NSW govt in Australia to launch wireless broadband network.
November 30, 2006... (From Telecompaper Africa/Asia) The NSW government in Australia plans to roll out a free wireless broadband network throughout the Sydney CBD and other large centres by early-2008, reports Sydney Morning Herald. Under the plan announced...

Angola - Angola to invest EUR 205 million in IT until 2011.
November 30, 2006... (From Telecompaper Africa/Asia) Angola's Deputy Minister for Science and Technology, Pedro Teta, has announced that the Angolan government plans to invest USD 270 million over the next five years - between 2007 and 2011 - tor modernise...

Australia - ACCC rejects Telstra undertakings on PSTN, LCS services.
November 30, 2006... (From Telecompaper Africa/Asia) The Australian Competition & Consumer Commission (ACCC) has rejected Telstra's proposed undertakings for fixed interconnection (PSTN) and local call resale (LCS) services. The ACCC has also released...

Australia - Telstra CEO agrees with Murdoch on Australian broadband.
November 30, 2006... (From Telecompaper Africa/Asia) Telstra's CEO Sol Trujillo agrees with media mogul Rupert Murdoch's statement that Australia's access to fast broadband is a 'disgrace', reports AAP. According to Trujillo, developed countries such as...

Kuwait - Vimio signs licensing deal with Kuwaiti telecoms firm.
November 30, 2006... (From Telecompaper Africa/Asia) Ireland-based Vimio, provider of media distribution solutions and content to mobile network operators, has signed a licensing deal with Kuwait-based telecommunications company Noutique General Trading. The...

New Zealand - TNZ to boost text allocation on Boost, Telecom Mobile plans.
November 30, 2006... (From Telecompaper Africa/Asia) Telecom (TNZ) will launch an offer on 01 January in which many Boost and Telecom Mobile customers will be able to text twice as much for no extra cost. Users of Telecom's Mega TXT and Boost Monsta Plan...

Pakistan - PTA in Pakistan invites bids to supply ERP system.
November 30, 2006... (From Telecompaper Africa/Asia) The Pakistan Telecommunications Authority (PTA) is inviting applications from companies for expressions of interest in developing, supplying, installing and commissioning an ERP system. Bids are due by...

Philippines - Eastern Telecom deploys NexTone solution.
November 30, 2006... (From Telecompaper Africa/Asia) Eastern Telecommunications Philippines (Eastern Telecom) has deployed the IntelliConnect System from NexTone Communications, developer of intelligent session management and interconnect systems for service...

Singapore - SingTel deploys public Wi-Fi network based on Cisco products.
November 30, 2006... (From Telecompaper Africa/Asia) Singapore telecommunications operator SingTel will be deploying a Wi-Fi mesh network from Cisco in the North region of Singapore. SingTel's proposal to deliver seamless public-access wireless broadband...

Samoa - Digicel launches Mpathix' message platform in Samoa.
November 30, 2006... (From Telecompaper Africa/Asia) Open system telecom solutions provider Mpathix has seen Caribbean operator Digicel launch the MX Platform to provide voicemail and messaging services to its mobile subscribers in Samoa. Based on open...

Pakistan - Pakistan has 45 million mobile subscribers.
November 30, 2006... (From Telecompaper Africa/Asia) Pakistani mobile subscribers continue to soar and reached 45 million with 28.5 percent penetration, while overall teledensity of the country has jumped to 32.8 percent in 2006 from the mere 2.8 percent in...

Singapore - M1 Singapore launches mobile broadband service.
November 30, 2006... (From Telecompaper Africa/Asia) Singapore-based MobileOne (M1) will launch the M1 Broadband island-wide mobile broadband service on 06 December. It has upgraded its 3G network with HSDPA technology to offer initial downlink speeds of up...

Taiwan - PDA sales in Taiwan to reach 15.3 million in 2006.
November 30, 2006... (From Telecompaper Africa/Asia) Sales of PDAs in Taiwan are expected to reach 4.5 million units in Q4 2006, up 23.9 percent from Q3 2006, boosted by the peak-season effect and the launch of 3G models, according to the Market Intelligence...

Taiwan - Taiwan cellphone sales to reach 7.3 million in 2006.
November 30, 2006... (From Telecompaper Africa/Asia) Mobile phone sales in Taiwan are expected to reach 1.87 million units in fourth quarter 2006, up 8.4 percent from Q4 2005 but down 1.8 percent from Q3 2006, according to the Market Intelligence Centre...

Thailand - CAT sets interconnection rates.
November 30, 2006... (From Telecompaper Africa/Asia) The board of Thai telecommunications provider CAT Telecom has approved its interconnection rate, the Nation reports citing company president Phisal Jorpocharu-dom. Call origination and termination rates...

Armenia - ArmenTel posts Q3 revenue of EUR 44.5 million.
November 29, 2006... (From Telecompaper Africa/Asia) Armenian national phone company ArmenTel generated revenue of EUR 44.5 million for third quarter 2006, up 47.8 percent from EUR 30.1 million a year earlier. Operating income before depreciation and...

Asia - WiMAX unlikely to pose a big threat to 3G in APAC: In-Stat.
November 29, 2006... (From Telecompaper Africa/Asia) Telecom providers have made significant efforts to compete with wireless 3G services with various Broadband Wireless Technology (BWA) in the Asia/Pacific market, reports In-Stat. For at least another five...

Asia - Telekom Malaysia revenue grows 22.5 percent in third quarter.
November 29, 2006... (From Telecompaper Africa/Asia) Telekom Malaysia reported a group revenue up 22.5 percent to MYR 4.23 billion in the third quarter compared with MYR 3.45 billion in the year-earlier period, thanks to continued growth in overseas cellular...

Australia - Telstra rivals complain to ACCC in LSS dispute.
November 29, 2006... (From Telecompaper Africa/Asia) The Australian Competition and Consumer Commission (ACCC) has been notified of three access disputes relating to charges imposed by incumbent phone company Telstra for supply of the Line Sharing Service...

Australia - Telstra launches sales centre in Darwin, Australia.
November 29, 2006... (From Telecompaper Africa/Asia) Telstra has started up a state-of-the-art sales centre in Darwin, Australia, creating 160 new full-time jobs. The centre is located in Darwin's Central Business District, and forms part of the company's...

Australia - Optus installs mobile facility in Kialla, Australia.
November 29, 2006... (From Telecompaper Africa/Asia) Optus has upgraded its network coverage in Victoria, Australia, with the installation of a new mobile facility at Kialla in the Goulburn Valley. The company has invested greatly in the Goulburn Valley,...

Bangladesh - CityCell accuses RanksTel of unlicensed operations.
November 29, 2006... (From Telecompaper Africa/Asia) Bangladeshi CDMA operator CityCell has accused fixed-line operator Ranks Telecom (RanksTel) of operating without a licence in Dhaka and surrounds, bdnews24.com reported. CityCell has complained to the...

China - Netia to merge with subsidiary Pro Futuro.
November 29, 2006... (From Telecompaper Africa/Asia) Polish fixed-line operator Netia has announced plans to merge the company with its wholly-owned subsidiary Pro Futuro. This is part of an ongoing programme of internal consolidation of Netia subsidiaries....

Australia - Australian govt cancels rural broadband take-up data effort.
November 29, 2006... (From Telecompaper Africa/Asia) The Australian government has cancelled a three-year effort to persuade internet providers to reveal the adoption of broadband services by people living in rural and remote areas of Australia, reports The...

China - Gmedia provides 2D barcode technology to Along.
November 29, 2006... (From Telecompaper Africa/Asia) Chinese mobile interactive entertainment services provider Along Mobile Technologies is cooperating with Gmedia to expanding its marketing strategy. Gmedia was established in 2004 with investment from...

China - Chinese digital cable STB sales to hit 5.3 mln units in 2010.
November 29, 2006... (From Telecompaper Africa/Asia) Sales of digital cable set-top boxes in China are projected to reach around 5.3 million units in 2010, up from 212,000 units in 2005, according to IMS Research. The government has adopted its "Total...

China - Zhejiang Telecom deploys Juniper core routers.
November 29, 2006... (From Telecompaper Africa/Asia) China Telecom subsidiary Zhejiang Telecom has deployed Juniper E320 broadband service routers and T-series core routers to introduce multiplay services including IPTV and modem-based virtual private...

China - Consumer watchdog registers 56,721 complaints about mobiles.
November 29, 2006... (From Telecompaper Africa/Asia) Chinese mobile customers lodged more than 50,000 complaints with the China Consumers' Association (CCA), Xinhua reports citing a consumer organisation official. In the first nine months of this year...

Georgia - DeltaNet deploys Ceragon wireless equipment.
November 29, 2006... (From Telecompaper Africa/Asia) DeltaNet is beginning the third phase of deploying Ceragon solutions that are enabling the Georgian ISP to reduce operating expenses while offering wireless internet services to its customers. DeltaNet...

Hong Kong - Chinese govt blocks PCCW sale to foreign buyers - report.
November 29, 2006... (From Telecompaper Africa/Asia) A senior official from the Chinese government has intervened to stop the sale of assets belonging to Hong Kong phone company PCCW to overseas investors, reports the Financial Times. The head of the Hong...

Hong Kong - Huawei accepts 3Com offer for Huawei-3Com stake.
November 29, 2006... (From Telecompaper Africa/Asia) Huawei, provider of next generation telecommunications network products, has accepted a bid offer from 3Com to purchase Huawei's entire stake in their joint venture Huawei-3Com (H3C). In accordance with...

Hong Kong - NTT Com Asia deploys Juniper VPN gear.
November 29, 2006... (From Telecompaper Africa/Asia) NTT subsidiary NTT Com Asia has deployed the Juniper Networks Secure Access 6000 SSL VPN appliances with the Instant Virtual Systems feature set to provide managed remote access services for the Hong Kong...

India - CricGenie service launched for Reliance Mobile users.
November 29, 2006... (From Telecompaper Africa/Asia) Indian phone company Reliance Communications has launched the CricGenie service for its Reliance Mobile customers. The service allows mobile customers to enjoy a cricket match in progress in animated...

India - Indiagames to distribute Tag Games content in India.
November 29, 2006... (From Telecompaper Africa/Asia) Mobile game developer Tag Games signed a distribution deal with mobile content publisher Indiagames which adds a number of new channels across Indian sub-continent to Tag Games' growing distribution...

India - TRAI analyses internet, broadband tariffs in India.
November 29, 2006... (From Telecompaper Africa/Asia) The Telecom Regulatory Authority of India (TRAI) has published a study paper on the analysis of internet and broadband tariffs in India. The take-up of broadband connections is growing, with the percentage...

India - ZTE wins USD 700 mln GSM contract from Reliance - report.
November 29, 2006... (From Telecompaper Africa/Asia) Chinese equipment vendor has won a GSM contract from Indian communications provider Reliance Communications, the Business Standard reports citing unnamed sources. The contract is worth USD 700 million and...

India - TRAI issues IN service interconnection mandate.
November 29, 2006... (From Telecompaper Africa/Asia) The Telecom Regulatory Authority of India (TRAI) has issued a Regulation on Interconnection between all telecommunications service providers for Intelligent Network (IN) services. The regulation will...

Azerbaijan - Azercell signs roaming agreement with Bharti Airtel.
November 29, 2006... (From Telecompaper Africa/Asia) Azerbaijani mobile operator Azercell has signed roaming agreements with three Bharti Airtel networks in India, news agency Trend reports. Azercell signed agreements for roaming on the Kerala, Gujarat and...

Indonesia - Indosat launches HSDPA with upgrade from Nokia, Ericsson.
November 29, 2006... (From Telecompaper Africa/Asia) Indonesian fixed and mobile operator Indosat has launched HSDPA services in Jakarta and Surabaya and plans to add eight more cities at the start of 2007. Services include high speed data and internet...

Israel - VocalTec completes private share placement.
November 29, 2006... (From Telecompaper Africa/Asia) Israeli multimedia and VoIP solutions provider VocalTec Communications has received and accepted orders from Israeli institutional investors for a private placementy of 1.75 million ordinary shares at USD...

Japan - NTT DoCoMo plans mobile TV show alliance - report.
November 29, 2006... (From Telecompaper Africa/Asia) Japanese mobile operator NTT DoCoMo will form an alliance to develop TV shows for mobile phone customers, reports the Nihon Keizai newspaper. The alliance includes Nippon Broadcasting System, Fuji...

Kyrgyzstan - Sistema to reimburse MTS over Bitel deal.
November 29, 2006... (From Telecompaper Africa/Asia) Shareholders of Russian conglomerate Sistema are prepared to reimburse Russian mobile operator Mobile TeleSystems (MTS) from their own funds for potential losses relating to an agreement to acquire 49...

China - Shareholders China.com approve acquisition of Timeheart.
November 29, 2006... (From Telecompaper Africa/Asia) The Hong Kong listed subsidiary of CDC Corporation, China.com, has announced that its shareholders have approved the acquisition by CDC Mobile of Chinese mobile valued added service provider Timeheart at...

Malaysia - Czech telecom equipment maker Strom Telecom opens Asian hub.
November 29, 2006... (From Telecompaper Africa/Asia) Czech Republic-based telecom equipment maker Strom Telecom has chosen Malaysia as its hub for the Asia Pacific region. The new centre would provide localised support for the company's customers in the...

New Zealand - Telecom denies blame for poor connections at ISPs.
November 29, 2006... (From Telecompaper Africa/Asia) Telecom has said that it is not responsible for the poor connections and slow e-mail delivery which have affected some internet service providers, reports National Business Review. The company's statement...

New Zealand - Dick Smith Electronics launches online music store.
November 29, 2006... (From Telecompaper Africa/Asia) Dick Smith Electronics (DSE) has launched a new online music store in New Zealand, reports National Business Review. The company is hopeful that the store will entice young people away from using free...

New Zealand - New Zealand minister welcomes report on telecoms bill.
November 29, 2006... (From Telecompaper Africa/Asia) New Zealand Communications Minister David Cunliffe has welcomed the report back to Parliament of the Telecommunications Amendment Bill. The government will consider the recommendations before deciding on...

Singapore - Asia Netcom opens PoP at Equninix Singapore centre.
November 29, 2006... (From Telecompaper Africa/Asia) Data communications services provider Asia Netcom has set up a second point of presence (PoP) in Singapore, located at the Equinix Singapore Internet Business Exchange (IBX) centre. This will allow Equinix...

Singapore - SingTel to launch multimedia conferencing service.
November 29, 2006... (From Telecompaper Africa/Asia) Singapore Telecommunications (SingTel) is due to launch the SingTel Multimedia Desktop Conference service, aimed at its business customers. The media-rich business conferencing service will be supported on...

Singapore - SingTel launches HSDPA broadband mobile service.
November 29, 2006... (From Telecompaper Africa/Asia) Singapore Telecom (SingTel) has launched its 'Broadband on Mobile' service based on HSDPA tecnhnology. This offers true broadband speed sof up to 2.6 Mbps. Customers require an HSDPA-enabled device such as...

Singapore - BuzzCity taps Juniper load balancing platform.
November 29, 2006... (From Telecompaper Africa/Asia) Singapore-based mobile content provider BuzzCity has deployed the Juniper Networks' DX 3200 load balancing and application acceleration platform to speed up performance on its content servers. BuzzCity's...

Sri Lanka - Dialog Telekom plans to acquire Communiq, CBN Sat.
November 29, 2006... (From Telecompaper Africa/Asia) Sri Lankan mobile operator Dialog Telekom has offered to buy 100 percent of Communiq Broadband Networks and satellite pay TV operator CBN Sat, according to a company release to the Colombo Stock Exchange....

Taiwan - Chunghwa purchases 300,000 security clients from Widevine.
November 29, 2006... (From Telecompaper Africa/Asia) Taiwanese operator Chunghwa Telecom has purchased an additional 300,000 Virtual SmartCard clients from the provider of content protection and forensic watermarking solutions for IP video, Widevine...

Taiwan - Sparq chooses Dilithium multimedia gateway.
November 29, 2006... (From Telecompaper Africa/Asia) Taiwan telecommunications provider sparq, (a.k.a. New Century InfoComm Tech) has selected the Dilithium DTG 2000 multimedia gateway for launch of its commercial IP Video to 3G Video telephony services....

Thailand - Syniverse provides clearing services to True Move.
November 29, 2006... (From Telecompaper Africa/Asia) Mobile communications technology services provider Syniverse Technologies has signed a multi-year contract to provide Thai mobile operator True Move with data clearing services for its roaming business....

Viet Nam - Optibase to provide IPTV gear to FPT.
November 29, 2006... (From Telecompaper Africa/Asia) Digital video systems developer Optibase has been awarded with an additional contract by Vietnamese internet service provider FPT Telecom. Extending the original IPTV solution that Optibase provided FPT...

Zimbabwe - Govt wants to monitor international mobile calls.
November 29, 2006... (From Telecompaper Africa/Asia) The military in Zimbabwe is accusing mobile operators in the country of endangering national security by using their own connections for international traffic, reports local paper the Herald. The Herald...

China - ECI to upgrade communications network of Beijing Power.
November 29, 2006... (From Telecompaper Africa/Asia) Beijing Power has chosen global IP transport products company ECI Telecom to upgrade its optical communications network in preparation for the 2008 Olympics. In preparation for the Olympics, Beijing Power...

Japan - Sharp's Softbank phone deploys Red Bend vCurrent Mobile.
November 29, 2006... (From Telecompaper Africa/Asia) Japan-based mobile software management and FOTA updating developer Red Bend Software Japan has licensed its vCurrent Mobile client software in the SoftBank 910SH -- the latest SoftBank mobile phone from...

New Zealand - Cabletalk posts net profit of NZD 81,000.
November 29, 2006... (From Telecompaper Africa/Asia) New Zealand's Cabletalk Group has reported net profit of NZD 81,000 for the six months to 30 September, with gross profit reaching NZD 4.2 million. Revenue from ordinary operations reached NZD 19.69...

Australia - PowerTel buys back 66,000 shares on ASX.
November 28, 2006... (From Telecompaper Africa/Asia) Australian corporate telecommunications provider PowerTel has bought back 66,270 shares on the Australian Stock Exchange for an aggregate price of AUD 99,026 and the highest price paid being AUD 152 per...

Australia - Telstra to raise postpaid mobile phone charges.
November 28, 2006... (From Telecompaper Africa/Asia) Australia-based telecommunications firm Telstra will raise a number of its call charges for postpaid mobile phone customers, reports Sydney Morning Herald. Telstra call charges will stay the same but the...

Australia - Coonan replies over slow Australian broadband speeds.
November 28, 2006... (From Telecompaper Africa/Asia) Media moguls in Australia are following their own interests by making complaints that broadband speeds are among the lowest in the developed world, according to Australian Communications Minister Helen...

Azerbaijan - Azercell signs roaming agreement with Vinaphone.
November 28, 2006... (From Telecompaper Africa/Asia) Azerbaijani mobile operator Azercell has signed a roaming agreement with Vietnamese mobile operator Vinaphone, news agency Trend reports. The company reports it has 300 roaming partners in 135 countries.

China - Online video market in China to reach CNY 500 mln - study.
November 28, 2006... (From Telecompaper Africa/Asia) The online video market in China is expected to reach CNY 500 million by the end of the year, Interfax writes citing a iResearch report. The Chinese online video market will hit CNY 500 million at the end...

China - Mobile users in China to reach 459 mln.
November 28, 2006... (From Telecompaper Africa/Asia) The number of mobile users in China is expected to reach 459 million by the end of this year, Xinhua reports citing the Ministry of Information Industry (MII). An official from the telecommunications...

China - Index Holdings to launch mobile social networking site.
November 28, 2006... (From Telecompaper Africa/Asia) Japanese mobile phone services provider Index Holdings plans to enter the Chinese social networking service market in January, the Nikkei Business Daily reports. The company will launch a Chinese-language...

India - XL Telecom to conduct IPO in India.
November 28, 2006... (From Telecompaper Africa/Asia) India-based XL Telecom will conduct an initial public offer in December with a price band of INR 125-150 per equity share of a face value of INR 10. The premium price will be set through 100 percent book...

Indonesia - KTF extends network consulting contract with Mobile-8.
November 28, 2006... (From Telecompaper Africa/Asia) South Korean operator KTF has continued to offer integrated consulting services to Indonesian mobile operator Mobile-8, which now has over 1.5 million subscribers. The two companies have extended the...

Hong Kong - PCRD denies it has votes to stop sale of its PCCW stake.
November 28, 2006... (From Telecompaper Africa/Asia) Pacific Century Regional Developments (PCRD), owned by Richard Li, has denied it has secured sufficient votes to block the sale of its 23 percent holding in Hong Kong phone company Pacific Century...

Israel - Cellcom's revenues, profit up in Q3.
November 28, 2006... (From Telecompaper Africa/Asia) Israeli mobile operator Cellcom saw its revenues and net profit go up in the third quarter, Globes reports. Revenues rose 11.3 percent year-on-year to ILS 1.47 billion and net profit went up 10.4 percent...

Malaysia - Green Packet aims for greater growth in 2008 vs 2006, 2007.
November 28, 2006... (From Telecompaper Africa/Asia) Telecommunications solutions provider Green Packet is aiming for an even greater rise in its net profit and revenue in 2008, vs the forecast three-fold rise in 2006 and 2007, according to CEO Puan Chan...

Israel - Bezeq upgrades upload speeds for internet users.
November 28, 2006... (From Telecompaper Africa/Asia) Israeli phone company Bezeq has completed the first phase of a programme to boost the upload speed of its high-speed internet packages. It has already upgraded over 200,000 internet customers of its 2 MB...

Malaysia - PosPay targets 500,000 subscribers in Malaysia.
November 28, 2006... (From Telecompaper Africa/Asia) Pos Malaysia unit Rmex Payment Services targets 500,000 subscribers within two years for its PosPay services, The Malaysia Star reports. PosPay is a ringgit-based payment service for transactions via the...

Japan - Polycom opens testing lab in Tokyo.
November 28, 2006... (From Telecompaper Africa/Asia) Unified collaborative communications solutions provider Polycom has opened a third testing facility in Tokyo. Known as the Quality Lab, it was established to do four types of testing including release...

Malaysia - Malaysian regulator issues new numbering and addressing plan.
November 28, 2006... (From Telecompaper Africa/Asia) The Malaysian Communications and Multimedia Commission (MCMC) has issued a new numbering and addressing plan. With the advent of new technologies (such as packet switching) and new protocols (such as the...

New Zealand - Telecom Xtra sees complaints over ads for broadband plan.
November 28, 2006... (From Telecompaper Africa/Asia) The New Zealand Consumers Institute has made complaints against Telecom Xtra regarding advertising for its broadband internet plan, reports National Business Review. The broadband plan features unlimited...

Nigeria - Nigerian regulator insists base station emissions are safe.
November 28, 2006... (From Telecompaper Africa/Asia) The Nigerian Communications Commission (NCC) has released the results of its studies across Nigeria, indicating that emissions from base stations of GSM operators pose no threat to public health. The NCC...

Qatar - Qatar Telecom completes USD 2 bln credit facility.
November 28, 2006... (From Telecompaper Africa/Asia) Qatar Telecom (Qtel) has completed a USD 2 billion revolving credit facility with original Mandated Lead Arrangers (MLAs). The syndication is expected to be launched in early-2007. It was advised by Qatar...

Uzbekistan - Moldcell, Uzdunrobita in GPRS roaming deal in Uzbekistan.
November 28, 2006... (From Telecompaper Africa/Asia) Moldcell has reached a deal in which its subscribers can use bilateral GPRS roaming services on the Uzdunrobita network, Uzbekistan, as from 27 November. All Moldcell customers who have GPRS and roaming...

South Africa - Celcom's Altx listing oversubscribed 10 times.
November 28, 2006... (From Telecompaper Africa/Asia) South African mobile operator Celcom has listed on the Johannesburg Stock Exchange's AltX with its prelisting private placement being almost 10 times oversubscribed, local daily Business Day reports. CEO...