Mainboard-listed
MediaRing Limited is one of only a handful of Singapore companies that won at this year's Deloitte Technology Fast Asia Pacific 500 award. Achieving an impressive 149% revenue growth over a three-year period, MediaRing was ranked Number 6 among the eight winning Singapore companies and Number 367 in Asia Pacific. MediaRing received its award at a high profile award ceremony held in Hong Kong on 8 December 2005.
The Deloitte Technology Fast Asia Pacific 500 program recognizes 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. The program covers public and private companies across the region, and is awarded based on companies' three-year average percentage revenue growth.
Besides Singapore, which formed 1.6% of the total Asia Pacific representation of fast-growing technology companies, the program covers companies based in Australia, China, Hong Kong SAR, India, Indonesia, Japan, Macau, Malaysia, Philippines, New Zealand, South Korea, Taiwan and Thailand.
An elated Mr. Khaw Kheng Joo, CEO of MediaRing, said, "We are extremely honored to be the winner of this prestigious Asia Pacific award as this is a great recognition of MediaRing's position as the leading VoIP telephony service provider in Asia. Indeed, our pace of growth has been tremendous in recent years and we have become, very notably, the only public listed profitable pure-play VoIP services provider in the world."
For its first half FY2005 financial results, MediaRing reported a net profit of US$1.2 million on the back of US$44.4 million turnover, making it the second consecutive profitable half.
He continued, "This award is also a vindication of our strong technological capabilities and extensive distribution network, which allows us to offer high-quality and low-cost voice services to carriers, enterprises, service providers, and consumers with a wide range of service offerings."
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
"Making the Deloitte Technology Fast 500 Asia Pacific ranking is a testament to a company's commitment to technology," said Ian Thatcher, partner in charge of Deloitte's Technology Fast 500 Asia Pacific program. "With MediaRing's 149% growth rate over three years, MediaRing has proven that its leadership has the vision and determination to grow in difficult conditions."