MyRepublic Aims to Be Singapore's 4th Mobile Network
Published on: 14th Jul 2014
Singapore based ISP, MyRepublic has indicated that it aims to become the country's fourth mobile network operator, and has been fund raising for the investment.
The company's CEO, Malcolm Rodrigues said that he has raised S$10 million from French telecoms billionaire Xavier Niel, founder of French mobile network, Free. A further S$20 million has come from Indonesia's Sunshine Network.
Mr Rodrigues said that Sunshine Network is interested in adopting MyRepublic's low-cost model and sharing its platform, while Mr Niel aims to piggyback off MyRepublic's expansion across Asia.
MyRepublic expects to need around S$250 million to launch its network, which is still dependent on a radio spectrum consultation that was recently launched by the telecoms regulator.
The company currently provides landline based broadband internet services and claims to have around 5 percent of the market. It needs to raise that to 10 percent to break even.