JASMINE SETS ITSELF HIGH TARGET

       Jasmine International has set an ambitious goal for the broadband Internet flagship of its telecom empire to take the market crown next year, despite the stuttering economy and cut-throat competition.

       "The broadband market is apparently on the growth path, thanks to rising service demand," CEO Pete Bodharamik said last week.
       The sagging economy has stalled the market's momentum only slightly, Pete, JAS' largest shareholder with over 17 per cent, said in an interview with The Nation.
       JAS' broadband Internet service provider, Triple T Broadband, is targeting to serve over one million subscribers next year, up from over 600,000 projected for this year-end. It currently has over 500,000 subscribers, up from 300,000 last year.
       Triple T Broadband's market share is expected to grow to 33 per cent at the end of this year from the present 25 per cent.
       The revenue contribution from JAS' broadband group, which includes Triple T Broadband and Triple T Internet, is expected to surge between 40 per cent and almost 50 per cent, up from 31 per cent or Bt1.74 billion last year.
       Triple T Broadband alone generated revenue of Bt1.73 billion in 2008, up from Bt1.23 billion in 2007.
       It lies in third place behind True Corp, which targets 700,000 subscribers by year-end, up from 650,000 now, and TOT, which aims to raise its subscribers to one million by year-end from 800,000 at present.
       Triple T Broadband's strategy to further grow its subscriber base involves competitive pricing, faster connections and wider network coverage.
       JAS' main investment this year has been Triple T Broadband's capacity expansion. It will spend Bt1.5 billion in the second half to raise service capacity to 1 million subscribers, after spending Bt1 billion on network expansion in the first half.
       JAS' wholly owned subsidiary, Acumen, has funded part of the broadband network expansion with its own cash, while bank loans and telecom network suppliers' credit have provided the rest of the capital.
       Early last month, Triple T Broadband sold shares through a rights offering. Acumen raised its stake in Triple T Broadband from 90 per cent to 99 per cent by buying shares in its allotment and those foregone by TT&T. The move diluted TT&T's holding in Triple T Broadband to 1 per cent. JAS and TT&T have locked horns following this, as TT&T said it maintained the right to buy Triple T Broadband shares.
       Pete said he understands TT&T's reaction but Acumen has already concluded its share increase in Triple T Broadband.
       JAS is TT&T's largest shareholder with 24.99 per cent.
       Acumen, which offers Wi-Fi wireless Internet via 6,000 hotspots nationwide, is gradually expanding its Wi-Fi network coverage.
       Pete said the group's investment budget next year depends on the market situation.
       Jasmine Telecom Systems (JTS), which provides turnkey telecom services and solutions, is interested in bidding on the 3G broadband wireless network rollout for TOT.
       TOT plans to spend over Bt20 billion on taking the 3G network nationwide for lease to telecom operators but the project is still pending Cabinet approval.
       Another major telecom holding firm, Samart Corp, is also keen to bid for the 3G network supply deal from TOT.
       But JAS is not interested in becoming a mobile virtual network operator (MVNO), Pete said, citing the business' low margins and JAS' focus on its core business of broadband service.
       An MVNO does not have its own network but leases bandwidth from a cellular operator to provide mobile phone service.
       JTS is also interested in providing telecom equipment to CAT Telecom's project to offer broadband Internet service via a fibre optic network, or the so-called fibre-to-the-x (FTTx).
       CAT will spend Bt6 billion on developing FTTx in greater Bangkok as part of the Abhisit administration's Thai Khem Khaeng" (Invest for Strength) economic stimulus programme, which means the FTTx project will receive government priority and fast-track approval.