SINGAPORE-The Infocomm Development Authority of Singapore released details of the final bid package for its third-generation (3G) license auction to be held in April, reducing the reserve price from S$150 million (US$85.4 million) to S$100 million (US$57 million). In addition, the nationwide network rollout requirement has been delayed one year from 31 December, 2003, to 31 December, 2004.
IDA said it made the adjustments based on comments it received from the industry. “This adjustment will facilitate the successful rollout of 3G services, which is strategic to Singapore’s ambitions to be an Asian leader in mobile communications,” IDA said.
The initial reserve price was set last year. “However, much has changed in the global telecoms industry since then,” said Yeo Cheow Tong, IDA minister for communications and information technology. “Market sentiment has weakened considerably, and there is greater uncertainty over the business case for 3G. …The assessment is that the market value of 3G licenses has dropped considerably.”
Interested parties must submit their applications by 26 March. IDA will announce the list of eligible bidders by 2 April, 2001.
