Telecoms giant HKBN ratchets up services bundling amid Hong Kong economic slowdown
- The company sees issues such as delays in customer projects as well as prolonged collection and payments amid the economic downturn
- Its revenue rose 85 per cent to US$1.2 billion in the 12 months ended August 31
That move, which leads a series of initiatives that HKBN announced on Friday, is expected to show how much the company has evolved after completing the integration of its latest major corporate acquisition since 2013, according to a company statement.
In December, HKBN completed its HK$392 million (US$50 million) takeover of information and communications technology services firm Jardine OneSolution (JOS). That followed HKBN’s merger with fixed-line network operator WTT early last year.
Its other acquisitions include cloud systems integrator I Consulting Group in 2018, the fixed-line broadband network and online marketing operations of New World Telephone Holdings in 2016, and wireless broadband service provider Y5Zone in 2013.
We believe that we are in the top 1 per cent of all companies in Hong Kong because we are in the right space – telecoms
Hong Kong-listed HKBN on Friday reported an 85 per cent increase in revenue to HK$9.4 billion for the 12 months ended August 31, up from HK$5.1 billion in the same period last year, on the back of the increased enterprise business from its integration of WTT and JOS. As of end-August, HKBN serves more than 1 million residential users and 105 enterprise customers.
