Broadband the bright spot for Pacific Internet

Regional Asian ISP (Internet service provider) Pacific Internet Ltd. (PI) has more than doubled its broadband subscriber base in the last three months, keeping it on track to achieve profitability by the end of next year, the company has announced.

Revenue for the second quarter ended June 30 reached US$20 million, 23.5 percent higher than in the first quarter, with the number of broadband subscribers rising from 4,400 to 9,000. Corporate broadband growth was strong in Singapore, Hong Kong and Australia, and revenue from corporate, as opposed to consumer, business grew by 27.8 percent from the previous quarter, the company said in a statement.

Nasdaq-listed PI posted a loss of US$3.1 million for the quarter, slightly less than the $3.3 million loss in the first quarter. But the company improved its earnings before interest, taxes, depreciation and amortization (EBITDA) for the third quarter running, to 2.1 million, Ko Kheng Hwa, PI chairman, said in the statement.

PI will focus on broadband services, corporate customers, end-to-end Internet services and electronic business going forward, but has scaled back its direct telecommunication operations, Ko said in the statement. The company has been operating an international direct dial service, for which rates in Singapore have plummeted since the market was liberalized last year.

PI now has 387,000 subscribers for its Internet access service in six countries -- Singapore, Hong Kong, the Philippines, Australia, Thailand and India. Late last year, the company announced it would hold off planned expansion into Japan and South Korea. Revenue from consumer Internet access has fallen sharply with the introduction by competitors of free ISP services, the company has previously said.

The company has recently won a number of tenders to provide electronic data services to the Singapore government and its statutory boards, according to the statement. PI's major shareholders are SembCorp Industries Ltd. and Singapore International Media Pte. Ltd. Both of these companies are effectively controlled by Temasek Holdings (Private) Limited, the principal holding company of the government of Singapore, according to PI's Web site.

In February 2000, PI's stock price on Nasdaq was US$79, but the company was caught up in the Internet-related stock crash, and its share price was $2.62 at the close of trading Wednesday.

Join the PC World newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

David Legard

Computerworld
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Armand Abogado

HP OfficeJet 250 Mobile Printer

Wireless printing from my iPhone was also a handy feature, the whole experience was quick and seamless with no setup requirements - accessed through the default iOS printing menu options.

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?