MUL multiemedia limited

MUL - ABS - The Age & various other press

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    Multiemedia reaches for sky

    By Eli Greenblat
    May 20 2002

    ABS is promising to offer the highest-speed satellite broadband in the nation.

    After failing to set the world on fire with its various Internet divisions, Multiemedia is pinning its hopes on the delivery of high-speed satellite broadband services to resuscitate its sagging share price.

    The company has formed a subsidiary called Australasian Broadband Services (ABS), which is promising to offer the highest-speed satellite broadband in the nation.

    ABS' new broadband technology is set to go live later this year following the successful launch of a satellite, and the company will also roll out what it claims is a "next generation" broadband infrastructure not yet seen in Australia.

    The two-way technology will enable users to download a maximum of 60 megabits per second, and allow up to 1.15 megabits uploads. Prices have yet to be disclosed.

    Multiemedia said it would take a majority stake in ABS, with the rest to be funded by partners and private investors. The new subsidiary is seeking up to $8 million of fresh equity capital.



    "This investment represents a great opportunity to be in at the ground floor of the next generation of broadband communications," Multiemedia managing director Adrian Ballintine said.

    An ABS information package sent to potential investors said the technology would be able to support high bandwidth applications such as video conferencing.

    The satellite space segment taken by ABS would allow the group to rapidly deploy services outside Australia to eastern Europe, Asia and the Pacific Islands, the report said.

    Multiemedia has had a poor run since listing on the Australian Stock Exchange, and has been forced to write down the value of businesses such as its Sportsview acquisition in 2001.

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