CALGARY and SINGAPORE, May 4 /CNW/ - Axia NetMedia Corporation ("Axia" or
the "Corporation") is pleased to announce that OpenNet Pte Ltd ("OpenNet") has
completed the necessary steps in order to proceed with the construction of its
passive fibre grid. This includes OpenNet being granted its Facilities-Based
Operator (FBO) Licence from the Infocomm Development Authority of Singapore
("IDA") to provide passive fibre-based services for an initial standard term
of 25 years. OpenNet is expected to begin offering commercial services by the
first half of 2010.
OpenNet will own the only Fibre to the Premise ("FTTP") grid that
provides passive fibre-based services to essentially every residential and
commercial premise in Singapore. OpenNet's business is providing these passive
services on an open access level playing field basis to all telecom parties
qualified by the IDA to do so. OpenNet's price structure is designed to be
attractive for adoption and promote end users' choice of active service
providers. StarHub, as the IDA-selected OpCo, will be one of the authorized
customers of OpenNet to provide active services over OpenNet's fibre.
Art Price, Chairman and CEO said, "Axia expects to be able to pursue
other Asia-based NGN opportunities as a result of Axia's unique market
positioning which includes Axia's leadership in respect of the OpenNet NGN
solution in Singapore."
Axia, through its wholly owned Singapore subsidiary, Axia NGNetworks Asia
(formerly Axia Networks Singapore), has a 30 percent interest in OpenNet with
partners Singapore Telecommunications Limited (30%), Singapore Press Holdings
(25%) and SP Telecommunications Pte Ltd (15%).
Axia provides Real Broadband(TM) IP services and solutions through
planning, designing and operating no conflict Open Access Next Generation
Networks. Axia has networks in Alberta, France and Singapore. Axia trades on
the Toronto Stock Exchange under the symbol "AXX".
This News Release contains forward looking statements, including, without
limitation, statements containing the words "should", "believe", "anticipate",
"may", "plan", "will", "continue", "intend", "expect", "estimate" and other
similar expressions which constitute "forward looking information" within the
meaning of applicable Canadian securities laws. These statements are based on
our current expectations, estimates, forecasts and assumptions about the
operating environment, economies and markets in which we operate and are
subject to important assumptions, risks and uncertainties that are difficult
to predict. Examples of these statements would include those where Axia
forecasts its success and timing in winning new OAN NextGen contracts, the
timing of completion and estimated total costs of these networks, the revenues
and operating costs associated with these networks over time, and Axia's
ability to generate future cash flows and avail itself of other financing
alternatives given current market conditions. The assumptions, risks and
uncertainties that could cause actual results to differ materially from the
forward looking information, include, but are not limited to, changes in
customer markets, changes in demand for our services, our inability to deliver
services in a timely and cost efficient manner, technological change, general
economic conditions and other risks detailed from time to time in our ongoing
filings with the Canadian securities regulatory authorities, including those
in our Annual Information Form, which filings can be found at www.sedar.com.
Given these assumptions, risks and uncertainties, readers are cautioned not to
place undue reliance on such forward looking statements. Unless otherwise
required by applicable securities laws, we undertake no obligation to publicly
update or revise any forward looking statements either as a result of new
information, future events or otherwise.
For further information:
For further information: please visit Axia's website at www.axia.com, or
contact: Dawn Tinling, VP, Investor Relations and Communications, Axia
NetMedia Corporation, (403) 538-4074, firstname.lastname@example.org