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Bullboard - Stock Discussion Forum Glentel Inc GLNIF

GREY:GLNIF - Post Discussion

Glentel Inc > GLN in the PHILIPPINES--1st of 250 stores! WOW!
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Post by PRObono on Apr 30, 2013 10:12pm

GLN in the PHILIPPINES--1st of 250 stores! WOW!

1st one of 250 stores opens in mania, philippines!

 

PRESS RELEASE FROM CNW GROUP

Glentel Enters Philippines Market - Opens 1st Store

Tuesday, April 30, 2013

BURNABY, BC, April 30, 2013 /CNW/ - GLENTEL Inc. (TSX: GLN) announced today the opening of the Marikina ALLPHONES store in Manila, Philippines, by its Retail Australia Division, AMT Group Pty, dba ALLPHONES.  AMT operates 200 retail mobile phone stores nationwide in Australia.

AMT Group Pty has entered into a Retail Management Services (RMS) agreement with Tao Corporation (TAO), Makati City, Philippines, to initially open up to 250 mobile phone stores in Manila and surrounding islands of thePhilippines.

"The opening of our Marikina ALLPHONES store marks a significant milestone for our AMT Group as Marikina is our first retail outlet outside of Australia," stated Shaun Colligan, Managing Director of GLENTEL's AMT Group Pty. "The prospect of having up to 250 outlets in the Philippines is one that not only provides a huge new opportunity for our people but also allows a new and exciting growth avenue for the Group."

"This is a wonderful opportunity for our AMT Group and our Australia management team to expand into Southeast Asia, providing our retail management services expertise and leveraging our proprietary mobile phone retail system in the Philippines with Tao Corporation," stated GLENTEL's President and Chief Executive Officer,Thomas Skidmore.

The RMS agreement commits AMT to license its ALLPHONES brand and store design to the project. Under an IP and Technology transfer agreement, AMT also agrees to deliver software, technology and consultation to TAO to support the management of the new retail store network.  AMT will set up a training academy in Manila with TAO to train the retail team on the AMT sales and service culture and the technology deployed by AMT to effectively manage and grow the postpaid mobile phone business. The population of the Philippines is 95 million, with over 20 million people living in the Greater Manila area. The majority of mobile phones in the Philippines are purchased with a prepaid plan, whereas the new retail stores will be located in malls and power centres selling mobile phones activated on higher-margin postpaid plans and accessories.

About GLENTEL

Celebrating its 50th anniversary in 2013 and based in Burnaby, BC, Canada, GLENTEL (TSX: GLN), is the largest independent multi-carrier mobile phone retailer in Canada and Australia. In the United States, GLENTEL operates two of the six National Premium Retailers for Verizon Wireless. GLENTEL is a leading provider of innovative and reliable wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products to consumers and commercial customers.

GLENTEL's brands - GLENTEL Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc.., SANS FIL etc., Mac Station, iStation, Diamond Wireless, Wireless Zone® and ALLPHONES - span four countries and three continents. The  Company employs over 3,800 employees and operates more than 1,200 locations, including more than 360 locations in Canada located in retail malls, Costco Wholesale stores, Target stores, and business centres; more than 630 retail locations in the United States; and 200 retail locations in Australia and the Philippines. Target Canada has licensed GLENTEL to open and operate in 2013 more than 120 mobile communications sales and service kiosks within its stores, under the brand Target® Mobile, of which 24 are now open.

PRObono

Comment by porksniffer on May 01, 2013 9:35pm
"Note: The Philippines has three times the population of Canada!" Too bad 2/3rds of them are dirt poor with many living in containerships and shanty towns. Dunno about the rest but I'm not feeling it and judging by the price action neither is the market. A paltry few thousand shares traded after this news release. I think this expansion is going a bit too fast, accumulating large ...more  
Comment by mjh9413 on May 02, 2013 1:35pm
One can't make light of poverty but just above 10% of Canadians (including 1/2 million children) are deemed below 'our poverty line' and while half of Philippines population live in rural areas where poverty is most rampant (but also high amongst City children) there are another about 40MM, still larger than Canada's population.  The emphasis in Philippines by a ratio, I ...more  
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