Addvalue unit bags contract to supply connectivity solutions to Chinese fishing ships
A SUBSIDIARY of Addvalue Technologies will supply satellite-communication solutions to a company with a fleet size of more than 1,000 Chinese fishing vessels, the mainboard-listed firm said on Monday. (see amendment note)
The communications technology products developer bagged a contract with CTTIC Shanghai to supply its Addvalue iFleetONE-VMS Terminal to the ships. The agreement follows an earlier contract signed with CTTIC Shanghai in August 2020 to roll out 100 units of the terminals.
CTTIC Shanghai is a subsidiary of China Transportation and Telecommunications Center, a company under China's Ministry of Transport. Its core businesses are in ICT (information and communication technology), Internet data centres and data technology.
Yu Dongjun, vice-president of CTTIC Shanghai, said Addvalue's terminals will help the fishing fleet to comply with regulatory requirements and transform their operations digitally.
Shares of Addvalue closed unchanged at 2.2 Singapore cents on Friday.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Amendment note: An earlier version of this story incorrectly stated that Addvalue Technologies will supply satellite communication solutions to more than 1,000 Chinese fishing vessels.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Shell in talks to sell Malaysia fuel stations to Saudi Aramco: sources
Singapore Airlines orders 1,000 tonnes of sustainable aviation fuel from Neste
Reits lead gainers on Monday as STI climbs 0.3%
Singapore battles to revive struggling stock market
China’s CICC demotes senior bankers, cuts pay to slash costs
Struggling French tech group Atos weighs financial lifelines