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Malaysia YTL to invest $689 mln on broadband network

Reuters, April 23, 2009

KUALA LUMPUR, April 23 (Reuters) - Malaysia's YTL Group (YTLS.KL) plans to invest 2.5 billion ringgit ($688.7 million) over five years to roll out a nationwide wireless broadband network, state news agency Bernama reported on Thursday.

YTL, which has interest in power to construction and property development, was awarded in 2007 a licence to roll out wireless-broadband services based on the Worldwide Interoperability for Microwave Access (WiMAX) technology.

The WiMAX licence is held by its internet unit YTL e-Solutions (YTLE.KL).

YTL Group Managing Director Francis Yeoh said the nationwide rollout is expected to be completed in 14 months.

($1=3.630 Malaysian Ringgit)

(Reporting by Soo Ai Peng; Editing by Julie Goh)

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