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AFTER
more than a decade of noncommercial operations,
Filipino-owned BusinessCorp Services Inc. gave MediaG3
Inc. of Santa Clara, California a supply contract worth
$10 million (P400 million roughly).
In a
statement Friday, MediaG3 said the contract with
Manila-based network services provider BusinessCorp has
a “duration of 18 months.”
“MediaG3
has been selected as the preferred supplier of
fixed-wireless equipment and software services to
support a planned cellular network deployment in
Equatorial Guinea,” the company said in the statement.
The
company said it is a “developer for broadband-wireless
product and interactive rich-media content delivery
applications.”
It added
that the contract would allow for the use of MediaG3’s
wireless equipment to “provide a last mile wireless
access link to enable the cellular-network plan to
deliver mobile telephone services to Coastal Africa.”
According to its latest audited financial report
submitted to the Securities and Exchange Commission
(SEC), BusinessCorp “has not resumed commercial
operations as of December 31, 2006. That year, it also
said it posted a deficit of P1.1 million.
BusinessCorp’s statement also revealed the company has
neither revenue nor assets but has an accounts payable
item worth P75,818.
In its
financial statement to the SEC, Michele Cecilia F. Go,
corporate secretary, said the company has less than 20
shareholders when it was incorporated in March 1995. The
company then reported cash and cash equivalent of
P94,550.
On the
other hand, MediaG3 said it was formed in December 2005.
It has two wholly-owned subsidiaries in
Shanghai,
China:
Oriental Media Inc. and Little Sheep Children’s Product
Development Ltd.
The
company also operates in
Santa Clara,
California,
Shanghai and Shenzhen, China.
The
awarding of the contract comes at a time of a
controversial government contract on broadband
connections with Chinese firm ZTE Corp., clouding
potential trade links between Philippine and mainland
Chinese public and private sector relationships.
BusinessCorp managing director Sonny Garcia was quoted
in the statement as saying its “key executive and
technical personnel have had occasion to work with
MediaG3 Inc. in the past on various network plans.”
“Having
adopted the concept of ‘duty-determined serving
platforms’ as a network design philosophy, [BusinessCorp]
considers MediaG3… wireless equipment as a valuable
element of the platform portfolio, serving as a
cost-effective solution for bandwidth provisioning,”
Garcia was also quoted as saying.
MediaG3
defined BusinessCorp as “a telecom equipment operator
…based in the Philippines.” |
