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HGC continues to deepen telecommunications infrastructure

Business

HGC continues to deepen telecommunications infrastructure
Business

Business

HGC continues to deepen telecommunications infrastructure

2024-10-24 21:28 Last Updated At:21:45

Enhancing AI-powered ICT services 

HONG KONG, Oct. 24, 2024 /PRNewswire/ -- HGC Global Communications ("HGC" or the "Group"), a fully-fledged ICT service provider and network operator with extensive global coverage,  announced robust business performance for the fiscal year 2024.

Highlight of Business Performance:

Andrew Kwok, Chief Executive Officer of HGC Group, said, "Thanks to the collective efforts of all our employees, HGC has achieved steady business performance and growth this year. The Group adopts a sustainable long-term business model and uses Hong Kong as center. We are committed to continuously enhancing telecommunications and ICT infrastructure to improve the digital capabilities of all sectors, further reinforcing Hong Kong's position as a regional leader. HGC will continue to closely monitor the demands and trends of international markets and strengthen interconnections with overseas regions."

One-Stop Managed Services and ICT Solutions: Empowering Corporates and SMEs for Comprehensive Digital Transformation

HGC has benefited from the strong demand for ICT solutions in the corporate market, with both corporates and SMEs recording continuous growth, the revenue from one-stop Managed Services has grown by 33% in FY2024 compared to FY2019, facilitating digital transformation for corporate clients. ICT solutions help corporate clients to enhance network security while effectively reducing operational costs, resulting not only in a positive impact on our business performance but also contributes to a 306% increase in the gross profit of our ICT services compared to the FY2019 while bandwidth requirements to meet customer demands have increased by 80%.

Additionally, the Group fully supports SMEs in their digital transformation efforts. The number of SME customers using fiber broadband has increased by 28% year-on-year, achieving growth for three consecutive years. The Secured Broadband service, was launched in April 2023 and has successfully thwarted over 2 million various types of cyberattacks. This service supports thousands of SME clients, with over a hundred new SME customers joining each month, highlighting the importance of its cybersecurity protection.

Expanding Fiber Network Coverage and Mapping: Leading in Residential Broadband Penetration

Home broadband has always been a core focus for the Group, which is dedicated to keeping the public closely connected in the digital age. As of June 2024, HGC has achieved a year-on-year increase of six percentage, with 71% of its residential broadband users currently utilizing fiber-to-the-home (FTTH) connections of 1,000M or higher. The number of residential users exceeds 400,000, and over one million customers are using HGC services, positioning the Group as one of the first among the leaders in Hong Kong's broadband penetration.

To meet the demand for fiber networks in remote rural areas, the Group is diligently accelerating the deployment of fiber projects in these regions. To date, fiber installation projects have been completed in over 200 villages, benefiting approximately 41,000 rural households. The fiber rollout plan for 60 additional villages is expected to be completed by 2025, further expanding the number of households that will benefit.

Actively Expanding and Investing in Emerging Markets in Asia and the Greater Bay Area: Holistically Enhancing Hong Kong's Position as an International Telecommunications Hub

Despite the impact of market dynamics and geopolitical factors on Hong Kong, HGC continues to use the city as its telecommunications hub while actively expanding and investing in emerging markets in Asia. The Group strategically focuses its investments in the Southeast Asian market, particularly in the Philippines:

These initiatives have not only achieved significant results but have also garnered high recognition from regional governments, including the Department of Trade and Industry of the Philippines.

Additionally, HGC has successfully established a data center interconnection (DCI) cluster in Asia. By connecting mature data center hubs, such as those in Hong Kong and Singapore, with emerging hubs in the Philippines, Thailand, and Malaysia, the Group aims to further enhance its regional network and promote the continuous development of innovative technologies. Currently, the Group has connected over 55 data centers and plans to further expand the scale of this infrastructure. At the same time, HGC is actively exploring multiple investment and acquisition opportunities in Malaysia to strengthen regional business and telecommunications infrastructure. We recognize the demand from Chinese companies to expand abroad, and we are ready to serve them with our investment, professional team (with 200+ colleagues in 4 major offices), know-how and expertise.

Mr. Kwok concluded, "While the Group expands into local, SEA, and GBA markets, we will also prioritize leveraging cutting-edge technologies like AI to enhance our cybersecurity products. We have professional talent, well-extablished experience, and an international exposure. Most importantly, we possess the reasonable investment capital to drive our various plans forward and are committed to providing our customers with high-quality, advanced products and services. HGC is well-prepared to implement diversified and innovative strategies and services tailored to different markets. We remain proactive in expanding various collaborations to deliver high-quality and secure services using the latest technologies. The Group's goal continues to be empowering businesses and individuals in their digital transformation, ensuring they thrive in an increasingly interconnected world."

About HGC Global Communications Limited

HGC Global Communications Limited (HGC) is a leading Hong Kong and international telecom operator and ICT solution provider. The company owns an extensive network and infrastructure in Hong Kong and overseas and provides various kinds of services. HGC has 21 global offices and staff presence in 33 cities worldwide. It provides telecom infrastructure service to other operators and serves as a service provider to corporate and households. The company provides full-fledged telecom, data centre services, ICT solutions and broadband services for local, overseas, corporate, SME and mass markets. HGC owns and operates an extensive fibre-optic network, five cross-border telecom routes integrated into tier-one telecom operators in mainland China and connects with hundreds of world-class international telecom operators. The company is committed to further investing and enriching its current infrastructure and, in parallel, adding on top the latest technologies and developing its infrastructure services and solutions. In 2019, HGC Group completed the acquisition of Macroview Telecom Limited (Macroview), a leading digital technology solution and managed services provider. The addition of Macroview further accelerates HGC Group's digital transformation path and positioning as a pioneering ICT and digital services leader. HGC is a portfolio company of I Squared Capital, an independent global infrastructure investment manager focusing on energy, utilities, transport, social infrastructure, digital infrastructure, and environmental infrastructure in North America, Europe, Latin America and Asia.

To learn more, please visit HGC's website at: www.hgc.com.hk

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

HGC continues to deepen telecommunications infrastructure

HGC continues to deepen telecommunications infrastructure

Next Article

BRICS creates new opportunities for Africa

2024-10-25 09:56 Last Updated At:10:15

BEIJING, Oct. 25, 2024 /PRNewswire/ -- A news report from chinadaily.com.cn:

At the ongoing BRICS Summit in Kazan, Russia, the leaders of BRICS member states are focusing on strengthening strategic partnerships and enhancing the grouping's role in international affairs.

BRICS has a multi-tiered framework of pragmatic cooperation in fields such as economy and trade, finance, technology, agriculture, culture, education, health, and so on. It has become a constructive force in promoting global economic growth, enhancing global governance, and advancing the democratization of international relations.

The grouping also has to strengthen the roles of its member states in the global monetary and financial system, deepen interbank cooperation, facilitate the transformation of the global settlement system and expand the use of national currencies of BRICS member states to settle payments.

The BRICS summit is becoming increasingly important for the countries of the Global South, because the grouping is no longer just a platform for economic cooperation, but has become an effective and important means for the Global South to build a safer and fairer world.

International organizations and institutions were established after the end of World War II to realize global stability and development for all. The whole world has realized the pressing need to abide by international or humanitarian law, or adhere to the United Nations Charter or UN agencies' rules.

According to the World Bank Group's estimates, Africa's total external debt reached $1.15 trillion in 2023, compared with $1.12 trillion in 2022, with some estimates suggesting the debt could reach $2 trillion by the end of this year.

This means Africa's debt challenge will continue in the near future, especially because global interest rates have reached the highest level in 40 years. Also, African countries have suffered due to declining export revenues since commodity prices began falling in 2015, with the COVID-19 pandemic further worsening the situation.

The fall in commodity prices has reduced the foreign exchange earnings of the Global South countries, which need them to service their loans. Many countries have taken out new loans to pay off old debts, putting them in a debt spiral that prevents them from investing in infrastructure, healthcare systems and education. In fact, the World Bank said last year that 22 countries were at risk of "over-indebtedness". African countries alone will have to pay $163 billion in debt service in 2024, a sharp increase from $61 billion in 2010.

About 80 percent of these debts are to international institutions including the World Bank and the IMF. China, too, has given loans to the African countries to boost their infrastructure development. But China accounts for only about 11 percent of African countries' total loans, which fortunately are all investment projects that promote Africa's economic growth.

As for the five countries that formally participated in BRICS cooperation on Jan 1, they have outstanding financial capability and development potential. For example, the United Arab Emirates has the capability and means to finance and invest in major projects, and Egypt is a large country occupying a strategic location with expertise in the field of agriculture and communications.

BRICS now accounts for 37 percent of global GDP, 46 percent of the world population, about 40 percent of global oil production, and 25 percent of global exports. By becoming BRICS members or partnering BRICS, African countries can create a lot of opportunities for themselves and thus further boost the growth of their economies despite the many challenges.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

BRICS creates new opportunities for Africa

BRICS creates new opportunities for Africa

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