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| MediaRing wins Deloitte Technology Fast 500 Asia Pacific 2006 award for the 4th consecutive year
• Award acknowledges and honors fast growing technology companies across Asia Pacific
• MediaRing was ranked 205th out of 500 companies across Asia Pacific
SINGAPORE – 13 December 2006 – Mainboard-listed MediaRing Limited (“MediaRing”) was conferred the Deloitte Technology Fast 500 Asia Pacific 2006 award for the fourth year running yesterday. MediaRing was ranked Number 2 among the seven winning Singapore companies and Number 205 in Asia Pacific after achieving an impressive 217.38 % revenue growth over a three-year period from 2003 to 2005.
MediaRing’s win this year saw the Group move up the rankings significantly among the Asia Pacific companies. Last year, MediaRing ranked Number 6 among the eight winning Singapore companies and Number 367 in Asia Pacific.
In its fifth year, the Deloitte Technology Fast 500 Asia Pacific program recognizes the 500 fastest growing technology companies in Asia Pacific, highlighting both established and emerging companies. It includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware. The program covers public and private companies across the region, and is awarded based on companies’ three-year average percentage revenue growth.
On MediaRing’s fourth year win, an elated Mr Khaw said “We are truly honored and encouraged to be a fourth time winner of this prestigious Asia Pacific award. We share this recognition with our people who have stayed focused on our corporate goal in achieving sustainable growth through ongoing expansion of our distribution network, continuous market and product development, strategic alliances, and investments in other synergistic businesses.”
For its first half FY2006 financial results, MediaRing achieved a net profit of US$3.4 million, a 182% increase from US$1.2 million in first half of FY2005. Revenue for first half of FY2006 rose 20% year-on-year to hit US$53.3 million, from US$44.4 million previously, driven by strong and consistent growth in MediaRing’s VoIP Retail Operations.
He continued, “This award is also a great vindication of our strong position as the leading VoIP telephony service provider in Asia and very notably, we were the first public listed profitable pure-play VoIP services provider in the world.”
To qualify for the 2006 Deloitte Technology Fast 500 Asia Pacific program, companies must meet the following criteria:
• It must be a technology company defined as one that develops proprietary technology which contributes to a significant portion of the company’s operating revenues; manufactures a technology-related product; and devotes a high percentage of effort to R&D of technology
• It must be in business for a minimum of three years
• It must have revenues of at least US$50,000 in the first of the years being analysed
• It must be Asia Pacific-owned, with HQs in Asia Pacific
“Being one of the 500 fastest growing technology companies in Asia Pacific is an impressive accomplishment. We commend MediaRing for making the Deloitte Technology Fast 500 Asia Pacific with a phenomenal 217.38 growth rate over five years,” said Ian Thatcher, partner in charge of Deloitte’s Technology Fast 500 Asia Pacific program.
Headquartered in Singapore, and with subsidiaries or rep offices in Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Silicon Valley (Sunnyvale, CA) USA, MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global VoIP market. Through its strong technological capabilities and extensive call termination network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 95 per cent of its revenue from outside Singapore.
About Deloitte Technology Fast 500 Asia Pacific Program
The Deloitte Touche Tohmatsu (Deloitte) Technology Fast 500 Asia Pacific program is the region’s most objective industry-ranking standard to focus on the technology field. It was created in 2001 to recognize the effort and dedication of the 500 fastest-growing technology companies in Asia Pacific and includes all areas of technology, from Internet to biotechnology, from medical and scientific to computers/hardware. It includes both public and private companies. The awards, which have been running in Asia Pacific for five years, are based on three-year average percentage revenue growth. Details of the winning companies are available at www.deloitte.com/fast500asiapac.
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