S. MEGGA International has finalised a joint-venture deal with American giant AT & T to market, distribute and sell AT & T-branded products in the Asia-Pacific region.
The venture, AT & T Consumer Products (Asia/ Pacific), will concentrate on consumer items such as fax machines and cellular, cordless and video telephones, all of which are being manufactured under licence by S. Megga at its production line in China.
The company will be 76 per cent owned by AT & T and 24 per cent by S. Megga.
S. Megga is also seeking a joint-venture deal with China National Posts and Telecommunications Industry Corp (PTIC) to penetrate the mainland market.
This second venture follows a memorandum of understanding signed in March between the partners of AT & T Consumer Products and PTIC, which it is hoped will enable AT & T and S. Megga to develop China's telecommunications market.
S. Megga financial controller Stephen Kwok predicted 100 per cent growth in the first year of the company's operations in China, while he felt that the mainland market could sustain 30 per cent growth.
