Sri Lanka Telecom, the country's premier telecommunications provider, announced today in a stock market disclosure that its subsidiary in Hong Kong, SLT Hong Kong Limited was liquidated.
The liquidation took effect from 18 May 2014.
SLT Hong Kong Limited, established in Dec 2006, was a fully owned subsidiary of Sri Lanka Telecom PLC.
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Mobitel, which started operations in 1993, became a wholly owned subsidiary of SLT in October 2002 – making it 20 years of being Sri Lanka’s National Mobile Service Provider.
Over a two-decade period, Mobitel has achieved many a milestone. In January 2004, the company launched its fully-fledged 2.5G GSM network that is EDGE/GPRS enabled and designed to operate on dual band. In December 2007, the company launched its 3.5G HSPA network - the first Super 3.5G network in South Asia. Further, Mobitel successfully demonstrated HSPA + MIMO technology with down link speed up to 28.8 Mbps and carried out successful trial of 4G/LTE technology with downlink speed exceeding 96 Mbps, for the first time in the South Asian Region. Investments committed to date in the 2.5G/3.5G/4G networks and service offering amounts to over US$ 500mn.
Mobitel 4G: Read more: http://www.colombocitylife.com/2014/05/mobitel-4g-lte.html
The company continued with its strategy which is positioned around value innovation and customer centricity firmly believing that, it can serve well, by making the best out of the technology being used, distribution systems, product portfolio, services and value added services, with heightened acumen concerning customer needs and interests. It led the company to seek an enhanced market position characterised by improved market share as well as strong revenue and product growth. In addition, it enabled the company to build a strong brand image, dynamic and happening, with improved visibility at strategic locations, leveraging on the success of its illustrious parent company - SLT.
The company is in the process of upgrading its network to a Next Generation Network, and is poised to assume a lead role in bringing cutting edge mobile technology that would inevitably help shape the next ICT led technological development phase of Sri Lanka.
With a strategy of 'value innovation', the Mobitel customer always wins. Mobitel believes that technology for its own sake is meaningless, and fosters an organizational culture that focuses on Customer Centricity. This philosophy which is a way of life at Mobitel has enabled to build long lasting relationships with Customers, which is evident by the ever increasing customer base which currently stands beyond the 4 million mark. The features and benefits built into the Innovative packages that Mobitel offer are all designed carefully with the customer's best interest at heart, standing by its slogan of "We Care. Always.".
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Living by its credo of ‘We Care. Always.’ the National Mobile Service Provider, Sri Lanka Telecom Mobitel has introduced another life-style convenient service to its customers called ‘mCash’.
‘mCash’ will be available for all Post-Paid and Pre-Paid Mobitel customers by registering for a ‘mCash’ account via #111#. Customers can make monetary transactions and withdraw money from their ‘mCash’ account as well. Over 4,000 ‘mCash’ merchant points would be established at the launch of the new service and would later expand up to 10,000 merchant points across the country.
Speaking on the launch of the service, Chairman of Sri Lanka Telecom and Mobitel’s Mr. Nimal Welgama said, "We at Mobitel are confident that this initiative to deliver a nationwide Mobile Money service will provide an unprecedented level of financial inclusion through the empowerment of millions of Sri Lankan citizens with electronic money transfer and payment facilities.
Approved by the Central Bank of Sri Lanka, ‘mCash’ is a useful supplementary method to transfer money that is fast, user-friendly and would provide a host of special offers to its customers. The number of mobile phone subscribers in Sri Lanka has reached a staggering 20 million which would promote the demand for value added services such as ‘mCash’.
Custodial Banking services will be provided by Commercial Bank of Ceylon PLC, while Deutsche Bank A.G, is the Trustee Bank for this new initiative. ‘mCash’ would be the fastest, most secure and convenient method to transact money, settle utility bills and purchase goods and services via a mobile phone through an established partner network.
The dawn of the Mobile Money era in Sri Lanka has been made possible by the progressive and financial inclusion-focused, regulatory ethos of the Central Bank of Sri Lanka.
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