HONG KONG SAR – Media OutReach – November 15, 2023 – Village Electrical Limited (“VTL”) just announced Everbright foreign investment infrastructure fund (Everbright Overseas Investment Infrastructure Fund) acquired and became a wholly owned subsidiary of this fund. This transaction will help strengthen VTL, improve service quality and management, and achieve steady progress in overall operations, helping VTL to provide better and stable services. more for customers.
Since its founding in 2017, VTL has specialized in installing fiber optic networks for rural homes across Hong Kong. At that time, the majority of residents in rural villages could only use low-speed broadband services ranging from 8Mbps to 30Mbps provided by the only copper network provider in their village. However, with the development of the Internet and artificial intelligence (AI), copper cable Internet access cannot meet people’s needs.
Realizing the potential for business development, VTL applied to the Hong Kong Communications Department and was granted a license for fixed telecommunications services in rural villages in January 2017. At the same time, VTL has cooperated with major telecommunications service provider to install fiber optic network, providing rural residents with “fiber to the home” service with fiber broadband up to 1000M.
Ms. Clio IP, Chief Executive Officer (CEO) of VTL, said: “We are delighted to join the Everbright Overseas Infrastructure Investment Fund. We hope to continuously improve the quality of the Company’s management and services, optimize the quality of equipment and network, and expand the construction activities of the fiber optic network, in order to provide more residents. Villagers have better quality, stable and barrier-free Internet services. With the upcoming rapid development of the Hong Kong North Metropolitan Area, the convenience of travel in the area will be significantly improved. It is expected that the number of residents in the villages will increase significantly, bringing new opportunities to VTL.”
Currently, there are about 900 villages in Hong Kong, with nearly 90,000 village houses and about 200,000 residents. Over the past 6 years, VTL has installed fiber optic networks in more than 500 villages, benefiting many people. In addition, the Company also provides fiber optic networks to mobile network operators, connecting base transceiver stations located in villages to their backbone networks so that people can enjoy mobile communication services. move better.
In the coming time, VTL will continue to focus on building fiber optic network infrastructure in other villages, maintaining a stable telecommunications network platform and uninterrupted services, so that customers can enjoy the smoothest possible online experience and further enhance the Company’s market competitiveness.
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Information về Village Telephone Limited
Village Electricity Limited (VTL), was granted a local fixed telecommunications services license by the Hong Kong Communications Authority in January 2017. The company is committed to installing fiber optic networks in rural areas across Hong Kong. With fiber optic network infrastructure ready in the villages, VTL cooperates with major telecommunications service providers to provide villagers with fiber-to-the-home broadband services of up to 1000M, allowing villagers Enjoy the convenience of ultra-fast Internet access.
To date, VTL’s fiber optic network has covered more than 500 villages and people there can enjoy fiber optic broadband services up to 1000M. Previously, in these villages there was only copper cable telecommunications network, which only supported 8Mbps to 100Mbps broadband service. Additionally, mobile network operators can connect their mobile base stations to the backbone network, through VTL’s fiber optic network built inside the villages.
Information about Everbright foreign investment infrastructure fund (Everbright Overseas Infrastructure Investment Fund)
Everbright foreign investment infrastructure fund is a fund targeting infrastructure investment opportunities globally. The fund achieved its final success in 2019, securing $460 million in commitments. The Fund is managed by indirect wholly-owned subsidiaries of China Everbright Limited. The fund mainly invests in equity and equity-linked securities of companies or projects in the European, North American and Asia-Pacific regions. Investment opportunities in other regions such as South America and the Middle East may also be considered. The fund aims to invest between USD 50 million and USD 200 million for each individual investment.
Investment targets should have excellent management teams, good performance records and strong regular cash flows so that investors in the Fund can enjoy both reasonable cash yields as well as long-term capital appreciation . Target industries and sectors include, but are not limited to, roads (including toll roads, bridges and tunnels), transportation terminals (including airport terminals and related facilities), trains, seaports and shipping ports, communication towers, water distribution networks, wastewater networks, water and wastewater treatment facilities, power generation facilities, power transmission and distribution networks, oil and gas storage facilities, oil and gas distribution networks…
Hashtag: #VTL
The issuer is solely responsible for the content of this announcement.