Wataniya Telecom Maldives Selects Harris Stratex for Network Expansion

Wataniya Telecom Maldives has selected Harris Stratex Networks, a supplier of turnkey wireless transmission and network assurance solutions, to upgrade its core transmission network to provide multiple SDH trunks across Maldives.

As part of the contract, Harris Stratex Networks will supply the new TRuepoint 6500 ultra-high capacity, carrier-class all-indoor radio, together with network consulting and turnkey services, taking responsibility for the complete upgrade of the network.

Raj Kumar, vice president of Asia Pacific sales and services at Harris Stratex Networks, said: "Wataniya Telecom Maldives has our total commitment. We understand their requirements and appreciate the need for a robust high-capacity core network and that's why we are supplying our new TRuepoint 6500 products, together with our experienced service offerings."

Source: redorbit.com

Wataniya Telecom Maldives Selects Harris Stratex for Network Expansion

Wataniya Telecom Maldives has selected Harris Stratex Networks, a supplier of turnkey wireless transmission and network assurance solutions, to upgrade its core transmission network to provide multiple SDH trunks across Maldives.

As part of the contract, Harris Stratex Networks will supply the new TRuepoint 6500 ultra-high capacity, carrier-class all-indoor radio, together with network consulting and turnkey services, taking responsibility for the complete upgrade of the network.

Raj Kumar, vice president of Asia Pacific sales and services at Harris Stratex Networks, said: "Wataniya Telecom Maldives has our total commitment. We understand their requirements and appreciate the need for a robust high-capacity core network and that's why we are supplying our new TRuepoint 6500 products, together with our experienced service offerings."

Source: redorbit.com

Wataniya Launches its 3g Service in the Maldives

Wataniya Maldives has launched its 3G network - with an offer of free video calls. Wataniya inaugurated the first 3.5G HSDPA Network in the Maldives on 30th January 2008, but is only now launching its commercial service.

Speaking at the launch of the 3G network and a range of new tariffs said, Wataniya’s Chief Commercial Officer, Mr. Stanley Henning said, “TalkPlan allows customers to choose their Wataniya FREE Buddies and call them for free. TalkWeekender Free allows customers to make calls to any Wataniya number during the weekends absolutely for free as well. Now these customers will only need to get a 3G handset and make free Video calls anytime they want. And the best part is they won’t even have to pay anything to get these services”

Source: http://www.cellular-news.com

Qtel profit falls on Wataniya costs $5 billion paid for acquisitions

Qatar Telecommunications Co (Qtel) posted its second straight decline in quarterly profit, at the bottom end of forecasts, as financing costs surged after it borrowed $5 billion to pay for acquisitions.

Profit attributable to shareholders in the third-quarter fell 5.6 percent after Qtel's financing costs swelled to 310.07 million riyals ($85.23 million), compared with 3.21 million riyals a year earlier, Qtel said in a statement.

Qtel, the fifth-largest Gulf Arab telecom firm by market value, raised a $3 billion loan that closed this month to refinance debt taken for its $3.72 billion takeover in March of Kuwait's National Mobile Telecommunications Co.

The additional financing which we have done for Wataniya has had an impact on our results," Qtel executive director for group communications Adel Al-Mutawa said. "We are looking at this as the investment phase," Mutawa said.

Profit in the three months ended Sept. 30 was 412.20 million riyals, or 4.12 riyals per share, compared with 436.49 million riyals, or 4.36 riyals per share, in the year-earlier period.

Wataniya's contribution to Qtel's profit in the quarter covered less than half of Qtel's debt financing costs. The Kuwaiti mobile phone firm, in which Qtel holds a 51 percent stake, contributed about KD10.94 million ($39.61 million) during the quarter. Wataniya's quarterly profit fell 27.2 percent in the three-month period to KD15.61 million.

Analysts' forecasts for Qtel's quarterly profit ranged from 430 million riyals and 725 million riyals in a Reuters net profit survey in September.
CUSTOMER BASE

Qtel is expanding outside its domestic market as Qatar prepares to sell a second mobile phone license this year, ending the last Arab telecom monopoly. Its revenues more than doubled in the quarter to 2.56 billion riyals, compared with 1.08 billion riyals in the year-earlier period.

In addition to financing charges, third-quarter general and administrative expenses rose to 988.43 million riyals, from 366 million riyals a year earlier, Qtel said. "The losses will start to decline going forward as our international operations grow," Mutawa said. Total customers jumped to 14.2 million at the end of September, compared with 1.3 million a year earlier, Qtel said.

This included 1.1 million customers in Qatar, 897,000 in Oman through its unit Nawras, and 8.2 million subscribers through Wataniya, which operates in Kuwait, Saudi Arabia, Tunisia, Algeria and the Maldives. Nawras expects to make its first profit in the fourth quarter, Chief executive Ross Cormack told Reuters in September. Qtel bought 75 percent of Pakistan's Burraq Telecom with a Saudi partner this year and its affiliate, Asiacell, runs a network in Iraq.

Our investments are long-term investments in markets with low penetration," Mutawa said. There could be more acquisitions in the Middle East, North Africa and Asia, he said. Qtel took out two loans totaling $4.5 billion in March to pay for acquisitions, including its January purchase of a 25 percent stake in Asia Mobile Holdings Pte Ltd, a unit of Singapore's Technologies Telemedia.
It raised this to $5 billion this month. - Reuters

Wataniya Telecom Maldives appoints CEO

Yasser Abdel Hakim has successfully completed his tenure as Interim Chief Executive Officer of Wataniya Telecom Maldives, the company announced today. Under his leadership, Wataniya Telecom Maldives revolutionized the market by introducing a unique customer oriented approach and specifically, propelled the International pricing rates to the desired levels of today’s discerning customers.
Mr. Yasser leaves Wataniya to join the Qtel head office in Doha and to spearhead the Revenue function for the entire group of 15 operations including Maldives.

Yasser Abdel Hakim joined Wataniya Telecom Maldives at the very beginning and maintained the head of financial responsibilities through out the company’s successful launch in August 2005.
Under his guidance Wataniya completed the latter stages of the WARF submarine cable project which was successfully brought to completion in March 2007.
Backed with strong business and financial managerial skills and immense experience in GSM operations Yasser has lead Wataniya through to two successful years of operations. Today, Wataniya provides the best quality calls at the most competitive rates the Maldives has ever seen, whether it is calls made locally or calls made abroad.

Yasser Abdel Hakim commented saying, “The success we see today is due to the strength inside the Wataniya family. I thank my team for the dedication and commitment they have shown in these last two years. Now with the recent acquisition of the Wataniya group by Qatar Telecom group, Wataniya Telecom Maldives, its employees and the people of the Maldives are looking at a new dawn of innovation, quality and service. The role of Wataniya will become more and more important and I am proud to have led the team towards the success we see today”.

To further strengthen the operations management and to lead Wataniya Telecom Maldives in to the future of a limitless horizon in the Maldives Mr. Abraham Smith has been appointed as Chief Operating Officer effective October 1st, 2007.
Mr. Abraham brings to Wataniya Maldives a rich recognized business management experience in addition to an international executive experience in mobile operations.

Mr. Abraham Smith, Chief Operating Officer of Wataniya said today, “It is an honor for me to take the helm of the company that has given so much to the people of the Maldives in such a short time. We are also sad to see Yasser leave Wataniya Maldives after three years of deep commitment and we wish him luck in his new position in the headquarters in Doha”

Effective 11th October 2007, Mr. Abraham Smith will assume the full responsibility and leadership of Wataniya Telecom Maldives.

Source: Wataniya

Wataniya 1Q share value soar after Qtel takeover

Kuwaiti-based mobile operator Wataniya Telecom reported consolidated net profit of US$88.4 million for 1Q07 to end March, with its share value rising an equivalent to 283% year-on-year.

Revenues rose 34% year-on-year to US$315.8 million for the quarter with the company reporting a 43% annual increase in subscribers for the same period, to 7.25 million.

Wataniya, which holds a 45% market share in the Kuwait behind MTC, reported that EBITDA rose 52% year-on-year to US$136.6 million. Wataniya also has stakes in operational companies in Algeria, Tunisia, Iraq, the Maldives and Saudi Arabia, and is preparing to launch in Palestine.

Wataniya officials credited the favourable results to the company’s assimilation into the Qtel group following the Qatari-based company’s acquisition of a 51%majority shareholding in Wataniya Telecom for US$3.72 billon in March 2007.

“While we differentiate ourselves as the leaders in innovation in our markets, our promise remains the commitment to grow the value that Wataniya Telecom offers. Wataniya is now part of a larger Qtel group and the synergies and efficiencies that are expected to be achieved from the enlarged Qtel group will benefit all the Wataniya group companies and will enhance the long term value for the shareholders,” stated Sheikh Abdullah bin Mohammed bin Saud Al Thani, chairman of Wataniya Telecom.

Source: ITP

Changes in Wataniya International Leadership – Qtel CEO takes the lead

Qtel’s CEO Dr Nasser Marafih is to take over the role of CEO for Wataniya International following the decision by Ahmad Haleem not to renew his employment agreement as CEO of Wataniya's international operation.

The integration of Qtel and Wataniya will be a top priority for Dr Nasser who will combine roles as CEO of both Qtel and Wataniya International.

Abdullah Bin Mohammed Bin Saud Al Thani, Chairman at Qtel, commented. “It is with regret that we announce the departure of Mr. Haleem who has expressed his wish to pursue personal endeavors. Mr. Haleem has been a major component in the success of Wataniya. His outstanding efforts to drive Wataniya's international operations and its rapid operational expansion into Tunisia, Iraq, Algeria, Saudi Arabia and the Maldives in a span of just over four years establishes a legacy that Qtel is fortunate and proud to inherit.”

Sheikh Abdullah continued. “The decision for Dr Nasser to take the lead in Wataniya’s international operations is a very positive one for our enlarged group. As CEO of both Qtel and Wataniya International, Dr Nasser’s dual roles will provide many synergies to add value to both Qtel and Wataniya International operations, and, ultimately, it is our shared customers who will feel the benefit.”

Qtel is steadily pursuing its international growth strategy as it seeks be a top 20 telecommunications company worldwide by 2020. The acquisition of Wataniya, in which Dr Nasser played an important role, follows a number of key acquisitions spearheaded by Dr Nasser since he became CEO in 2002, including Qtel’s deal with AT&T to gain an equity stake in NavLink, the region’s leading provider of Managed Data services, and a strategic alliance with ST Telemedia to give Qtel a strong foothold in South East Asia.

Dr Nasser said, “I am delighted to take on the role of CEO in Wataniya International. With our two companies now part of one enlarged group, we have been making the necessary adjustments to maximize our growth potential. As CEO of both Qtel and Wataniya International, I look forward to ensuring that we pool our resources and strengths in order to reach our common goals.”

© 2007 Mena Report (www.menareport.com)

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Source: Mena Report

Kuwait’s Wataniya Q1 jumps 131 pct to record

KUWAIT - National Mobile Telecommunications Co. NMTC.KW (Wataniya), Kuwait’s second mobile phone operator, posted a 131 percent jump in first-quarter profit, its biggest quarterly earnings on record.

The firm, in which Qatar Telecommunications Co. QTEL.QA (Qtel) bought a majority stake in March, made 25.74 million dinars ($88.90 million) in the three months to March 31, compared with 11.15 million dinars in the year-earlier period, it said in a statement on the bourse Web site.

Earnings per share more than doubled to 56.84 fils in the first three months, from 24.72 fils a year ago. There are 1,000 fils to the dinar.

Wataniya did not explain the rise in earnings, which were the highest for a single quarter according to Reuters statistics going back to 2004.

The company’s former Chairman Faisal al-Ayyar told Wataniya’s annual shareholder meeting in March he expected the firm’s net profit to grow by 20-25 percent in 2007.

Wataniya has expanded abroad with mobile phone networks in Iraq, Tunisia, Saudi Arabia, Algeria and the Maldives.

Qtel bought 51 percent of Wataniya from a consortium led by Kuwait Projects Co. KRPO.KW for $3.72 billion in March, the largest-ever Gulf Arab telecom acquisition.

Qtel said earlier this month a court had been asked to shut down Wataniya’s Iraq affiliate, Asiacell Telecommunication Co., which contributed 49.7 million dinars to Wataniya’s net profit in 2006, the single-largest non-Kuwait contributor.

Source: Khaleej Times

Deal worth $3.72bn; KIPCO sells Wataniya shares to Qtel

KUWAIT CITY: In what is seen as the largest telecom deal in the Gulf region, the Kuwait Projects Company (Holding) — KIPCO — which led a consortium of shareholders in Wataniya, has agreed to sell its entire 51 percent stake to Qatar Telecommunications Company (Qtel) for KD 1.075 billion ($3.7 billion). Speaking at a press conference Friday in downtown Kuwait City, KIPCO’s managing director and chief executive officer Faisal Al-Ayyar said Qtel will pay each shareholder KD 4.600. On Wednesday, the last trading day of the week the share closed at KD 3.100.

The deal will be finalized within five days from the date of the completion of the terms and conditions, he said. “When completed the deal will be the largest in the history of the region and Kuwait. It is the first time that a strategic capital has changed hands among GCC states. This comes to fulfill the vision of HH the Amir who had promised to the nation in February 2006 to free the Kuwaiti economy and make Kuwait once again a commercial and financial center of the region. “The deal, which projects the working strategy of KIPCO as one of the fastest growing enterprise, is important from the economic point of view for the GCC states particularly Kuwait, Al-Ayyar added.

KIPCO, Al-Ayyar told the press, focuses on the telecommunications sector and considers this sector as its main target because Wataniya has achieved continued success over the past seven years, side by side increasing the share value and its capital for the benefit of the shareholders. The CEO added there has been a lot of talk about establishing a unified GCC market but nothing has been done in this regard. The deal between Qtel and KIPCO is the first of its kind in the region and will open the door for similar ventures in future. Earlier, Qtel was named as one of the three potential Arab bidders to buy the stake put up for sale by the Wataniya shareholders, thus bracing for an end to its monopoly in Qatar this year.

Earlier, the two other bidders from the region — Emirates Technologies Telemedia Corp (Etisalat), the second largest telecoms firm by market value, said it had dropped plans for a bid in Wataniya and Dubai-based Oger Telecom, owned by Saudi conglomerate Saudi Oger had said it was not in talks. KIPCO is a holding company with investments in 54 companies ranging from communications to financial services and owns around 24 percent of Wataniya. Wataniya runs a mobile telephone network in Iraq, Tunisia, Saudi Arabia, Algeria and the Maldives. Qtel operates a subsidiary in Oman and bought a 25 percent stake in Asia Mobile Holdings Pte Ltd, a unit of Singapore Technologies Telemedia in January.

By Paul Francis X. Fernandes - Arab Times Staff