SINGAPORE - Local fibre broadband operator MyRepublic has applied to take part in Singapore's upcoming 4G airwave auction.
The application deadline was 5pm today (Sept 1).
MyRepublic also announced a new strategic investor in Leonie Hill Capital, a Singapore-based investment firm. The investment amount is undisclosed.
An auction, slated for early October, will determine Singapore's fourth mobile operator.
MyRepublic chief executive officer Malcolm Rodrigues said: "It's not about cutting prices; we want to build a telco that runs on new economics, built from the ground up for the next generation of mobile services."
He claimed that the company already has 80 per cent of the network in place as it already offers fibre broadband connections to homes. Expanding to the mobile space is only "logical", said Mr Rodrigues.
Its existing financial backers also injected more funds in MyRepublic towards its fourth telco plans. They include Brunei's largest telco DST Communications, the telecommunications arm of Indonesian conglomerate Sinar Mas called Sunshine Network and French billionaire Xavier Niel, who also founded mobile and Internet services provider Free in France.
Chief executive officer of Leonie Hill Capital Arun Kant said: "There aren't many telcos emerging worldwide, and certainly none that are breaking new ground like MyRepublic is doing."