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M1 (Singaporean company)
M1 Limited (commonly known as M1; formerly MobileOne) is a telecommunications company based in Singapore. Founded in 1994, M1 was listed on the Singapore Exchange from 2002 to 2019. The company is a subsidiary of Keppel Ltd.
M1 was founded as a consortium known as MobileOne in Singapore in 1994. Cable & Wireless plc, Hong Kong Telecom, Keppel Telecommunications, and Singapore Press Holdings all owned stake in the company at its outset. In May 1995, it became the first firm (outside of government-owned Singtel) to acquire a cellular license and one of three to receive a paging license from the Telecommunications Authority of Singapore. The company's first CEO, Neil Montefiore, was appointed in 1996.
In January 1997 in the lead-up to the deregulation of the telecommunications industry in Singapore, MobileOne offered a free trial of its cellular service to build market share. On 1 April 1997, MobileOne was officially allowed to conduct business as a mobile phone operator. By June 1998, the company had a valuation of $1 billion (SGD). In 2000, MobileOne launched its own GPRS service, becoming the first telecom company in Singapore to do so. Over the course of 2000 and 2001, MobileOne transferred all of its customers from a CDMA network to a GSM-1800 network.
In 2001, the firm signed an agreement with Nokia to help expand its GSM network. It had around 880,000 subscribers at that time, accounting for around one-third of the mobile phone market in Singapore. In July 2002, M1 signed another agreement with Nokia which would see the latter supply M1's nationwide MMS system, expanding its future 3G capabilities.
MobileOne had its IPO in December 2002 and began trading on the Singapore Exchange under the stock ticker symbol, MONE. In May 2004, M1 introduced POINT, a music recognition service. Later that year, MobileOne enlisted Taiwanese boy band, 5566, to promote the company's prepaid "M Card" in a series of ads. 2004 also saw M1 partner with Google on an image search feature and begin push-to-talk trials with enterprise customers in Singapore.
In February 2005, the company introduced prepaid cards that allowed for free incoming calls. It also launched its consumer 3G services, becoming the first Singapore-based operator to do so. In August 2005, SunShare Investments–a joint venture between Telekom Malaysia and Malaysia's government-run investment arm, Khazanah Nasional–acquired a 12.06% stake in M1 from Great Eastern Telecommunications (a separate joint venture with Cable & Wireless and PCCW as owners). With those shares, SunShare increased its ownership stake in M1 to 17.7%. By March 2006, SunShare's stake had grown again to 27.55%.
In December 2006, MobileOne introduced Singapore's first 3.5G wireless broadband service. Known as M1 Broadband, the service used High Speed Downlink Packet Access (HSDPA) technology to achieve internet connection speeds of up to 3.6 Mbit/s. In April 2008, Telekom Malaysia (TM) demerged from one of its mobile and telecom divisions, Axiata. The M1 shares that TM held through its SunShare Investments arm were then diverted to Axiata. In August of that year, the company entered into the fixed broadband sector. M1 Fixed Broadband used StarHub Cable's existing open access network to connect its service. In January 2009, it was announced that Neil Montefiore would step down as CEO of MobileOne. CFO Karen Kooi was named acting CEO before being appointed to the position permanently in April 2009.
In 2009, M1 began offering prepaid 3G broadband service and instituted a mobile handset rental program called "Take3." It also launched a near-field communication NFC pilot program in a partnership with Citibank and Visa. In September 2009, M1 acquired Singaporean internet service provider, Qala, with the goal of entering the corporate fixed broadband market. The acquisition of Qala also allowed the company to begin offering ADSL broadband.
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M1 (Singaporean company)
M1 Limited (commonly known as M1; formerly MobileOne) is a telecommunications company based in Singapore. Founded in 1994, M1 was listed on the Singapore Exchange from 2002 to 2019. The company is a subsidiary of Keppel Ltd.
M1 was founded as a consortium known as MobileOne in Singapore in 1994. Cable & Wireless plc, Hong Kong Telecom, Keppel Telecommunications, and Singapore Press Holdings all owned stake in the company at its outset. In May 1995, it became the first firm (outside of government-owned Singtel) to acquire a cellular license and one of three to receive a paging license from the Telecommunications Authority of Singapore. The company's first CEO, Neil Montefiore, was appointed in 1996.
In January 1997 in the lead-up to the deregulation of the telecommunications industry in Singapore, MobileOne offered a free trial of its cellular service to build market share. On 1 April 1997, MobileOne was officially allowed to conduct business as a mobile phone operator. By June 1998, the company had a valuation of $1 billion (SGD). In 2000, MobileOne launched its own GPRS service, becoming the first telecom company in Singapore to do so. Over the course of 2000 and 2001, MobileOne transferred all of its customers from a CDMA network to a GSM-1800 network.
In 2001, the firm signed an agreement with Nokia to help expand its GSM network. It had around 880,000 subscribers at that time, accounting for around one-third of the mobile phone market in Singapore. In July 2002, M1 signed another agreement with Nokia which would see the latter supply M1's nationwide MMS system, expanding its future 3G capabilities.
MobileOne had its IPO in December 2002 and began trading on the Singapore Exchange under the stock ticker symbol, MONE. In May 2004, M1 introduced POINT, a music recognition service. Later that year, MobileOne enlisted Taiwanese boy band, 5566, to promote the company's prepaid "M Card" in a series of ads. 2004 also saw M1 partner with Google on an image search feature and begin push-to-talk trials with enterprise customers in Singapore.
In February 2005, the company introduced prepaid cards that allowed for free incoming calls. It also launched its consumer 3G services, becoming the first Singapore-based operator to do so. In August 2005, SunShare Investments–a joint venture between Telekom Malaysia and Malaysia's government-run investment arm, Khazanah Nasional–acquired a 12.06% stake in M1 from Great Eastern Telecommunications (a separate joint venture with Cable & Wireless and PCCW as owners). With those shares, SunShare increased its ownership stake in M1 to 17.7%. By March 2006, SunShare's stake had grown again to 27.55%.
In December 2006, MobileOne introduced Singapore's first 3.5G wireless broadband service. Known as M1 Broadband, the service used High Speed Downlink Packet Access (HSDPA) technology to achieve internet connection speeds of up to 3.6 Mbit/s. In April 2008, Telekom Malaysia (TM) demerged from one of its mobile and telecom divisions, Axiata. The M1 shares that TM held through its SunShare Investments arm were then diverted to Axiata. In August of that year, the company entered into the fixed broadband sector. M1 Fixed Broadband used StarHub Cable's existing open access network to connect its service. In January 2009, it was announced that Neil Montefiore would step down as CEO of MobileOne. CFO Karen Kooi was named acting CEO before being appointed to the position permanently in April 2009.
In 2009, M1 began offering prepaid 3G broadband service and instituted a mobile handset rental program called "Take3." It also launched a near-field communication NFC pilot program in a partnership with Citibank and Visa. In September 2009, M1 acquired Singaporean internet service provider, Qala, with the goal of entering the corporate fixed broadband market. The acquisition of Qala also allowed the company to begin offering ADSL broadband.