SMRT Corporation, which provides taxi, bus and train services in Singapore, has filed a statement with SGX to say that it has agreed to work exclusively with OMGTEL (OMG) in connection with OMG's bid for the fourth wireless telecommunications carrier licence in Singapore.
OMG was incorporated in Singapore by Consistel in October 2014 to bid for the licence. Consistel is an in-building wireless software solutions provider and system integrator for distributed antenna systems. The company is headquartered in Singapore and has offices in Indonesia and the Philippines. According to its website, clients include Singapore telcos SingTel Mobile, MobileOne, and StarHub; AIS, DTAC and TA Orange in Thailand, the Philippines' Globe Telecom, Indonesia's Excelcomindo (now XL Axiata), and Warid Telecom of Pakistan. It has also shared that it neutral hosts a trunked radio system from Grid Communications at the Singapore Sports Hub.
Both parties have also agreed to negotiate and execute on a collaboration agreement for the provision of such services and/or goods as may be agreed between the parties.
SMRT also has the opportunity to invest up to S$34,500,000 in OMG. The exercise of the option is at SMRT's discretion and subject to, amongst other things, the obtaining of the licence by OMG, satisfactory due diligence on OMG, and the execution of definitive agreements between the company and OMG.
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