KUALA LUMPUR (Jan 29): Information and communications technology products distributor VSTECS Bhd will be offering SpaceX's Starlink high-speed internet in Malaysia.
In a statement on Monday, VSTECS said its wholly owned subsidiary VSTECS Astar Sdn Bhd has signed a distribution agreement and has been named an authorised Starlink distributor.
VSTECS said the group will be leveraging its extensive network of channels and established relationships with retailers and diverse client base across critical sectors like education, healthcare, finance, and the public sector to offer the product.
"We have already appointed Harvey Norman as the first official retailer, and are actively building a network of trusted retailers to maximise seamless deployment across the country," it said.
VSTECS chief executive officer JH Soong said the collaboration with Starlink will complement the Malaysian government's vision of achieving 100% internet penetration throughout the country.
"We are confident that this collaboration will be a game-changer for Malaysia," he said.
"This collaboration holds immense promise for propelling Malaysia into a new era of digital connectivity, empowering individuals, businesses, and communities alike. With VSTECS and Starlink joining forces, the future of Malaysia's digital landscape is poised [for] an impactful progress," Soong added.
In an announcement on July 20, 2023, then communications and digital minister Fahmi Fadzil, who is now communications minister, said Malaysia has issued the licence to allow Starlink to provide internet services in the country, particularly in remote areas.
This makes Malaysia the 60th country to be served by the Elon Musk-owned satellite constellation.
Besides VSTECS, other authorised Starlink distributors in Malaysia include REDtone and Measat.
At market close on Monday, VSTECS shares were unchanged at RM1.44, with a market capitalisation of RM518.4 million. Year to date, the counter has seen an increase of 8.27% from RM1.33 at the start of the year.