sparq shareholders meeting approves Initial
Public Issuance
China Development Industrial Bank elected board member
Far EasTone and KG Telecom users can save as much as 12%
Quality service and competitive rate prevail throughout the
island within one week
sparq (a.k.a. New Century InfoComm Tech. Co., Ltd., NCIC)
held its annual shareholders meeting yesterday. Major resolutions
that were passed by the shareholders included 1) Approval
of financial results for 2000; 2) Initial Public Issuance;
and 3) China Development Industrial Bank, being elected member
of the board.
sparq was established on February 14, 2000 with paid-in capital
of NT$47.5 billion. As sparq was new to the scene last year,
all income derived from interest, investment and rent, with
no operating income. Total income was NT$1.714 billion (including
tax). Net income after taxes was NT$228 million.
sparq is the Far Eastern Group's business effort in the telecom
sector. Backed by a wealth of business experience and technical
support from SingTel, sparq is destined to become a leading
player in the business. We strive to provide subscribers with
convenient and competitive services while creating more profits
for sparq shareholders and boost the development of the general
telecom industry in Taiwan," said sparq Chairman Douglas
Hsu.
The emerging developments and innovative applications of the
Internet, e-commerce, mobile phones and broadband communications
are reshaping the world and providing people with a new interactive
model that will overcome the barriers of space and time. As
broadband digital circuits are completed, leased lines, web
hosting, data centers as well as other value-added services
will see tremendous growth thanks to sparq's island-wide
fiber optic network. Furthermore, the Institute for Information
Industry (III) estimated that the B2B e-marketplace would
grow from a NT$2 billion business in 2000 to a NT$16 billion
business in 2002 with compound annual growth in excess of
100%. Studies show that as data transmission increases rapidly
in the future, sparq can expect a healthy increase in revenue.
About Sparq
sparq is a privately owned telecommunication company and invested
by the Far Eastern Group, SingTel and the best local enterprises.
It will provide users a variety of telecommunication services
based on its advanced technology, innovated services, and
idea of quality. sparq had been granted with Approval of fixed-line
of application on March 19, 2000, and with a Concession License
on February, 2001 to provide services of leased telephone
integration which include broadband application, enterprise
portals, Internet protocol virtual private network (IP-VPN),
and web hosting.
Should you need more detail information, please visit our
website: www.sparq.com.tw.
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