Telecom News Bulletin

Wateen Posts Revenue of Rs. 1,931 Million For The First Quarter of 2010/11

Wateen Telecom Limited has recently announced its results for the first quarter of 2010/11. It has posted revenue of Rs. 1,931 million with Rs. 383m positive EBITDA against a EBITDA loss of Rs. 110 million for the same period last year. Since the last quarter of 2010, Wateen is continuously showing a positive trend in terms of revenues and profitability. Wateen is capitalizing its unique strategic position as nationwide optic fiber operator, system integrator, broadband services provider and key LDI operator all under one umbrella.

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Wateen’s Performance Beats Forecast / Wateen Surpasses Expectations

In the annual report published this week, Wateen Telecom Limited has posted Rs 8,608 million as revenues in the year ended June 30, 2010 (FY10) with the gross margin for second half of FY10 increasing to 38% from 30% compared to the first half of FY10

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Abu Dhabi Group Committed to Wateen & Pakistan

In these harsh economic times, the Abu Dhabi Group has yet again proved its commitment to the people of Pakistan as it has further augmented its USD 2.0 billion investment in the country. Sources have disclosed that new foreign direct investment into Pakistan from the Abu Dhabi Group comes through one of its latest publicly listed telecom ventures “Wateen Telecom Limited.

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Wateen Aims to Bring Literacy Revolution in The field of Internet

Wateen is energetically contributing toward Government of Pakistan’s (Information Technology Ministry) USF projects working for the development of telecom infrastructure in underserved areas of the country. Hitherto, very effectively Wateen has been obtained subsidies of nearly PKR 1.8 billion for OFC projects and PKR 1.0 billion for Broadband projects through participation in competitive biddings.

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Genuine Subscribers Must Be Our Top Priority – PTA

Pakistan Telecommunication Authority has made extraordinary efforts to curb illegal issuance of SIMs and to ensure authentic antecedents of mobile subscribers by implementation of one of its kind “Online Verification of Mobile Subscribers’ Antecedents through NADRA’s Database-789” in February 2009. After having successfully implemented the system for mobile operators, PTA has extended its efforts by bringing the WLL operators under the same umbrella. In this regard, Chairman Dr. Mohammed Yaseen has inaugurated the call centers of M/s Worldcall and M/s Wateen here at Lahore.

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Wateen Officials Denied CEO Resignation

Reference to the blog ‘Wateen CEO resigns’ posted on your website, we would like to inform you that all such rumours are mere speculations and there is absolutely no truth in these statements.

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CEO Wateen Tariq Malik Resigns

It is confirmed now that Mr. Tariq Malik, CEO of Wateen Telecom has resigned from his position after shaky last 2 years of the company. Malik resignation was earlier rumored in the market due to terrible performance of Wateen couple of months back, when he was given a final chance to bring the company back to the track. These rumors came to true when he opted for leave then, reportedly due to illness.

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