Thursday, 19 February 2009

Sumitomi invests in Merchantrade - Malaysia

Sumitomi Corporation, a Japanese telecommunications conglomerate, has injected ¥750,000,000 (7,835,243 USD) in to the first Malaysian MVNO, Merchantrade.

“Sumitomo will contribute to the company by supporting its deployment of new services like integrated service and marketing expansion as well as enhancing its corporate governance.” Sumitomi said in its press statement.

Merchantrade, an MVNO aimed at foreign workers, currently has over 94,000 active subscribers and operate using the Celcom network.