sorry toni, I dont really see the point of this story. What has it got to do with finance? Its a government giving a contract to another government monopoly. might have to be spiked. sorry
Singapore Telecommunications (SingTel), the island-state's former telecom monopoly, said it won a two-year contract worth S$40 million ($22.8 million) to lay the broadband infrastructure for the Singapore government.
SingTel says it will connect government ministries, statutory boards and government-linked agencies in a wide area network that will provide high-speed communications connections for voice and data. The company will also service and maintain the network and provide a round-the-clock support desk.
By linking its agencies and smoothing communications the government hopes to cut costs, improve efficiency and increase security as part of its plan to prepare itself for the digital economy.
SingTel will manage the project with one of its subsidiaries, National Computer Systems, an information technology service provider which provides network integration and a range of electronic services to the public and private sectors.
"We will leverage on our strengths to provide innovative, value-added solutions and a full suite of services to ensure smooth implementation and management of the project," says Lim Chuan Poh, SingTel's executive vice president of corporate business.
SingTel, which is Singapore's biggest company by market capitalization, is bent on becoming Asia's dominant telecommunications company, gaining market share across the region as it faces increased competition in its domestic market. The company has invested S$5 billion in some 80 joint ventures and alliances in 20 countries.
