THE announced sale of Datec is subject to regulatory approvals but Steamships Trading Company Ltd is confident these can be secured, managing director Geoff Cundle said.
Responding to questions by The National on why the company was putting up its information communication technology arm for sale, Cundle said the value of Datec would be enhanced outside the Steamships group.
He said: “Datec has been a very good business for Steamships over many years and it has developed a strong market presence with a well-trained team of staff.
“The ICT solutions business is a fast-moving business and PNG, like many other global markets, experiences consolidation and realignments in this sector.
“For Steamships, the question was whether the future of Datec was best served under continued Steamships ownership or could its potential be better developed under different ownership.
“It was concluded that the value of the Datec business would be enhanced outside the Steamships group where it could have the potential to be embedded alongside other ICT offerings.
“We are confident that the prospects for the Datec business and its staff will be stronger as a result of this transaction.”
Last month, Steamships Trading Company Ltd announced its intention to sell its 100% owned subsidiary Datec to Telikom PNG Ltd.
The intended sale remains conditional to completion of sale and purchase documentation and regulatory approvals.
Port Moresby (The National)