KUALA LUMPUR (Feb 10): Main Market-bound firm Reach Ten Holdings Bhd said its wholly owned unit, Reach Ten Communication Sdn Bhd, has become an authorised reseller of Starlink in Malaysia and the region following the signing of an agreement with SpaceX.
This will enable Reach Ten to offer Starlink hardware and satellite-based broadband services, in addition to the existing satellite services that the company is offering from its satellite hub (teleport) in Kuching, Sarawak, said the company in a statement on Monday.
Reach Ten, which provides broadband satellite services to more than 1,200 locations in Malaysia, will be able to expand its satellite services to cover the maritime, offshore oil & gas and Internet of things (IoT) sectors as an official reseller of Starlink, said its managing director Leo Chin.
“We are thrilled to have Starlink on board to expand our capacity to deliver broadband services to the remaining 3% population in Malaysia currently without access to terrestrial network connections. It will solidify our position as a one-stop provider for satellite broadband services, delivering seamless, resilient and high quality internet services to our customers, regardless of their location across Malaysia,” said Chin.
He said that with the addition of Starlink, Reach Ten is set to contribute to Malaysia’s goal of achieving 100% nationwide internet coverage through initiatives like the Jalinan Digital Negara (Jendela) plan, as well as the Sarawak government’s Saluran and Smart projects.
“As a Sarawak-based company, we are proud to play a vital role in supporting Sarawak government’s efforts and initiatives to close the digital divide between urban and rural areas,” Chin said.
Reach Ten is principally involved in the provision of satellite-based communication networks and services; fibre optic communication networks and services; and telecommunications infrastructure services and managed services.
The company is licensed under the Communications and Multimedia Act 1998 as a network facilities provider, network service provider and application service provider to offer a full suite of connectivity solutions that include satellite, fibre and managed services and solutions for telecommunications companies, corporate and small and medium-sized enterprises in Malaysia.
According to the company, it is a tier-one satellite service provider and has been serving the private and government sectors for over 10 years. It has one of the most advanced satellite hubs and a network operations centre at its teleport in Kuching. It has also established a wide network of service centers throughout Malaysia to provide support services to customers.
Reach Ten's initial public offering (IPO) involves the public issuance of 200 million new shares, and an offer for sale of 100 million existing shares at a price to be determined later. All in all, the listing offers investors up to 30% stake in the Sarawak-based company, according to its draft prospectus posted on the Securities Commission Malaysia's website in Oct 2024.
Proceeds from the IPO have also been earmarked for the construction of 100 4G and 5G towers in Sarawak. The proceeds will be used to repay bank borrowings, fund working capital requirements, and to defray listing expenses.