OpenNet Wins Singapore NGN Deal

OpenNet selected by Singapore for fibre grid network

September 26, 2008

1 Min Read

SINGAPORE -- Axia NetMedia Corporation (Axia) (TSX:AXX), a network provider, announced on 26 September that the OpenNet consortium, in which Axia holds a 30% interest, has been selected by the Infocomm Development Authority of Singapore (IDA) to provide passive fibre grid services for Singapore's Next Generation National Broadband Network (NGNBN).

Axia's partners in OpenNet are Singapore Telecommunications Limited (SingTel) Singapore Press Holdings (SPH) and SP Telecommunications Pte Ltd (SPT) with 30%, 25% and 15% interests, respectively.

OpenNet expects to complete the agreement contracting process with the IDA as planned within the next seven months and expects that the Singapore-wide fibre grid will be completed by June 2012. This fibre grid will be made available on equal terms to any parties qualified by the IDA. When completed, OpenNet will provide Singapore with an open and fast fibre-to-the-home network.

Axia NetMedia Corp. (TSE: AXX)

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