SINGAPORE-Pacific Century CyberWorks Executive Chairman Richard Li announced in Davos, Switzerland, that his company expects to bid for a third-generation mobile-phone network license in Singapore.
He said, “Singapore is such an important market for the region that we cannot afford not to consider bidding for a license there. There have been more delays in the adoption of 3G than the industry hoped for, but we will get there.”
Asked what might prompt a rebound in the telecom valuations he replied, “Weed out the weak first. When the poor business models are removed, investment risk will be reduced, and interest will return to the sector.” He further added that it may take a year or two for business models to improve and to feed through to profit and loss statements.
Li said in the Asia-Pacific region last year, data transfer grew 260 percent with a 35-percent drop in the price of a connection.
