Press Release : TSTT to buy Massy Communications for 255 million

Press Release : TSTT to buy Massy Communications for 255 million

TSTT and Massy Communications Ltd., have entered into a Share Purchase Agreement (SPA), in which TSTT will purchase 100% shareholding of Massy Communications Ltd. The signing of the SPA, which is subject to the receipt of all regulatory approvals, was announced at a jointly-held press conference on Tuesday, May 2, 2017.This agreement capitalizes on the synergies of both companies in a manner that is mutually beneficial, along with their stakeholders, the local telecommunications industry and the people of Trinidad & Tobago.

TSTT is the largest telecommunications provider in Trinidad and Tobago. A significant element of TSTT’s current strategic plan involves the deployment of both wired and wireless high-speed broadband internet capabilities, throughout the entire nation. This includes investment in fibre optic solutions together with the associated technological infrastructure and systems.

Since 2006, Massy Communications, formerly Three Sixty Communications, has been building out its telecommunications network and expanding its services, to currently offer a range of services which include:

  • Fibre Optic (FTTH) Infrastructure deployment which is utilised to deliver High Speed Internet and IPTV to residential and SME customers.
  • Dedicated Internet/IP transit
  • Clear Channel Domestic/ Metro Ethernet and International Private Lines
  • International Wholesale Termination and Enterprise Voice Solutions

The telecommunications industry is dynamic, disruptive and intensely competitive. Additionally, consumer and business demands, particularly around high speed data continue to grow exponentially. These growing demands mandate telecom providers to continue to make advanced technological improvements at significant costs. These demands also result in the need to continue to recalibrate the business models employed.

In 2016, TSTT secured $1.9B in financing to create a Fibre to the Home (FTTH) solution throughout all of Trinidad and Tobago, including areas where Massy had already built out a robust network. This purchase will allow TSTT to have immediate access to an additional 34,000 homes passed with fibre. These homes are located in Diego Martin, Port of Spain, Trincity, Arima and San Fernando. This agreement therefore means that TSTT now has the benefit of incorporating these customers into its existing infrastructure.

The agreement includes all of Massy Communications infrastructure relating to both its Enterprise and Consumer networks, all existing Enterprise and Retail customers and the entire operational and business support systems. Therefore, this purchase will result in the acceleration of TSTT’s deployment of its next generation network. It will also facilitate the opportunity to immediately deliver a new suite of products and services to our existing customers in these areas. Furthermore, it will provide the Massy customers with the assurance that their future communications needs are well placed.

Of equal importance is the foreign exchange savings to Trinidad and Tobago that this agreement will foster. All telecommunications technological investments requires foreign exchange. Additionally, this agreement removes the duplication of significant capital expenditure, which both companies agreed is in the best economic, environmental and developmental interest of Trinidad and Tobago.

“Today marks a historical moment for the telecommunications industry in Trinidad and Tobago in general and for the management, staff and all stakeholders of TSTT in particular. As part of TSTT’s current $3.8B five-year strategic plan, we clearly indicated that we have one primary mandate and that is to transform TSTT from a legacy 20th century telecoms provider, to an agile broadband communications company. To achieve this goal, we always intended to employ a multi-prong approach, using both organic and inorganic growth strategies.
Our focus on high-speed broadband internet solutions is demonstrated by being the first and only local telecommunications provider to provide world-class fixed wireless LTE and mobile LTE technology and solutions. Our investment will also continue with our wired solutions where fibre implementation is pivotal. As such, this agreement significantly accelerates our deployment strategy which will benefit all of Trinidad and Tobago. We also see this as the beginning of a new robust alliance with the Massy Group.” Dr. Ronald Walcott, CEO – TSTT.

This transaction is a win for both companies, their employees and customers. Both organizations are clear that High Speed data and ICT development is a catalyst for national development. This agreement will make both companies stronger and more efficient in delivering on their strategic imperatives, by delivering the most technologically advanced broadband and HD TV solution to customers, along with exceptional customer service support. Citizens of Trinidad & Tobago will have access to fast, consistent, reliable, market leading internet speeds.

Technology and volunteering hand in hand with the Special Olympics

Technology and volunteering hand in hand with the Special Olympics

Samsung, as Premier sponsor of the III Latin American Special Olympics Games, provides the organization with the technology to make a significant sports experience, in which more than 800 athletes of 21 countries of the region participate.

During the III Latin American Special Olympics edition, Samsung awards the top 10 athletes in the regional competition with its most innovative products such as Gear Fit 2 –a state-of-the-art physical activity monitor with GPS included.

Samsung seeks to complement the training of athletes through the use of technology for the better control the development of their physical abilities with the Gear Fit2.

By the other hand, the Special Olympics chapter of Panama receives 19 Galaxy Tab E 9.6″ tablets, intended to supplement the educational programs that the Special Olympics carries out permanently and directly with young people with intellectual disabilities. These items, and 10 Samsung 360 cameras, will be used during the competitions of the III Latin American Games, to document and share the experiences of the athletes.

The provision of technology such as printers, Smart TVs and a virtual reality stand equipped with Samsung Gear VR for the facilities of the Olympic Village in the Hotel El Panama, as well as Galaxy J5 cell phones for communication between the directors of the delegations of the invited countries, are part of another of the contributions given to the games by the company seeking to strengthen the logistics and experience of the athletes during the event.

Samsung Volunteering for Social Inclusion

Prior to the III Latin American Games in Panama, Samsung’s regional collaborators joined as volunteers to support athletes in 9 countries in their preparation training by organizing Unified Sports games, which combine athletes with intellectual disabilities and those who do not to help them develop their physical abilities, in an exchange of talent, encouraging inclusion in the community through sport.

Regionally, 68 volunteers participated, donating up to 214 hours from countries such as Costa Rica, Honduras, Guatemala, Nicaragua, El Salvador, Ecuador, Venezuela, Jamaica, and Trinidad and Tobago.

During the III Latin American Games of Special Olympics in Panama from April 20 to the 27th, Samsung’s collaborators will continue to count hours of volunteering by supporting the athletes who will go to the volleyball courts, bowls and swimming pools, to give the best of themselves, representing and leaving their countries’ names high and above all, to live the emotion of sports competitions.

“Samsung, as an active and responsible member of the community, helps raise awareness of the challenges faced by young people with intellectual disabilities, promoting positive attitudes and behavioral changes to achieve the inclusion of these young people in everyday life,” said Nicole Orillac, Corporate Citizenship Manager for Samsung Electronics.

During this experience the volunteers were also inspired by the Olympics athletes for their demonstration of admirable dedication in their way of overcoming challenges and integration in our society.

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Press Release : UAE launches US$50 million renewable energy fund for the Caribbean

Press Release : UAE launches US$50 million renewable energy fund for the Caribbean

The United Arab Emirates (UAE) today announced a landmark new US$50 million grant fund for renewable energy projects in Caribbean island countries. Launched by HE Reem Al Hashimy, Minister of State for International Cooperation, the UAE-Caribbean Renewable Energy Fund represents one of the largest-ever single investments in the region’s clean energy sector, as well as a significant deepening of bilateral relationships between the UAE and Caribbean countries.

Grant funding is provided by the Abu Dhabi Fund for Development (ADFD), with the UAE Ministry of Foreign Affairs managing the initiative and Masdar, Abu Dhabi’s renewable energy company, leading implementation.

The announcement, which brings UAE development assistance for renewable energy to almost $1 billion since 2013, was made on the sidelines of Abu Dhabi Sustainability Week, as part of the annual General Assembly meeting of the International Renewable Energy Agency (IRENA).

“We are honoured to open this new chapter in the growing relationship with Caribbean countries,” said Minister Al Hashimy. “The two oceans between us are not the barrier they once were, and we are bringing fresh eyes and enthusiasm to each other’s markets and aspirations. We’re especially pleased to join forces under the UAE-Caribbean Renewable Energy Fund, which can simultaneously drive achievement of the Paris climate agreement and the Sustainable Development Goals.”

His Excellency Mohammed Saif Al Suwaidi, Director General, Abu Dhabi Fund for Development (ADFD), reflected: “The renewable energy sector stimulates economic growth and employment, it underscores innovation and it capitalises on resources – all leading pillars in improving day-to-day living standards. ADFD’s steady and unwavering vision is to underpin developing countries in achieving their goals by forging new partnerships and funding multiple key sectors; notably, the renewable energy sector – the main catalyst for sustainable long-term growth.

He added: “In the Caribbean island countries, securing a stable and efficient supply of energy is a pivotal policy of each nation’s growth strategy. ADFD is proud to have partnered with Masdar and share its expertise to support the Caribbean nations as they unlock their underutilised wind and solar potential to drive energy security, job creation and socio-economic development.”

Mohamed Al Ramahi, Masdar CEO, added: “Renewable energy is an extremely competitive option for communities in the Caribbean, where there is tremendous natural potential a number of technologies. Caribbean islands typically face high costs for power generation, so unlocking this potential offers opportunities for both savings and growth, providing a powerful catalyst for sustainable social and economic development. Masdar is proud to be a trusted partner for this important project, which will draw on our deep experience deploying solutions for island communities.”

The UAE-Caribbean Renewable Energy Fund represents a new pillar of expanding cooperation and exchange between the UAE and Caribbean. A number of Caribbean countries have appointed ambassadors to the UAE in the last year to develop trade and investment links, as well as prepare for the 2020 World Expo in Dubai. For the first time in the Expo’s history, each country will be enabled to host its own pavilion, allowing Caribbean participants to showcase projects and plans to potential partners from across the globe.

The new fund will seek to conclude project agreements with several countries per year. Designed for flexibility, it can support renewable energy projects as both as a minority or full financier, as well as engage with both the public and private sectors. With Masdar as the technical lead, all sources of renewable energy can be considered, including solar, wind, geothermal and waste-to-energy.

“The Caribbean offers one of the most compelling business cases for renewable energy in the world, and a public finance push can be a critical factor in driving action,” said Ali Al Shafar, the UAE’s Permanent Representative to IRENA. “Renewable energy has been a powerful relationship-builder for the UAE, and we look forward to partnering with Caribbean countries on this common interest that can in turn lead to new opportunities.”

UAE development assistance for renewable energy is now approaching $1 billion since 2013. Recent projects, implemented by Masdar, include eight solar plants in rural Mauritania, which power about 39,000 homes and save 27,850 tonnes of carbon emissions per year, and the provision of 6.5 megawatts (MW) of capacity across 11 Pacific Islands, enabling the saving of 3.2 million litres of diesel fuel annually.

On Sunday Abu Dhabi Fund for Development -ADFD- in collaboration with Irena have announced during the Seventh Session of the IRENA Assembly, funding four renewable energy projects within the fourth funding cycle. Projects produces about 32 megawatts of renewable energy, worth AED 163.4 million ($ 44.5 million) in four countries, namely, the Seychelles Islands Marshal, Niger and the Solomon Islands.

Liz Mannette launches new Steelpan Digital Content

Liz Mannette launches new Steelpan Digital Content

Mannette, who has been designing steelpan themed jewelry for over 11 years has extended into the media and entertainment world and spent the last year in development with local and international artists, animators, mobile app developers and futurists to carve a creative space for the next evolution of digital content for the steelpan.

Just in time for Carnival 2017, a Suite of brand new steelpan-themed mobile applications (pan apps) are being launched on the company’s official digital platform:

An excerpt from the press release that was sent to me. Check it out and share your thoughts with us in the comments below.