Malaysia-based subsea cable solutions company OMS Group said that it has allocated US$300 million for strategic investments in its global cable systems and terrestrial infrastructure in the ASEAN region.
In a post on LinkedIn, OMS Group said the investment will focus on expanding its subsea cable systems and terrestrial infrastructure to meet growing regional demand for digital services driven by the growth of data centres and cloud services in the region.
OMS Group said its expansion strategy includes acquiring direct ownership of subsea cable systems and boosting its backhaul capabilities from cable landing stations to data centres.
The aim is to integrate its subsea and terrestrial infrastructure to offer comprehensive services to clients, said OMS Group CEO Ronnie Lim.
“We aim to be a one-stop shop for client needs across subsea, cable landing stations and terrestrial networks, starting with the ASEAN region,” Lim said in a statement. "This integrated approach will not only streamline access to our comprehensive services but also lay the groundwork for further expansion into the broader APAC market.”
Among OMS Group’s marquee subsea projects is the Malaysia India Singapore Transit (MIST) subsea cable system that features landing points in Singapore, Malaysia, Thailand and India (Mumbai and Chennai). The 8,100-km MIST cable, designed with a total capacity of 216 Tbps, is owned by Orient Link.
Last week, OMS Group subsidiary LitUp Network Singapore signed an MoU with Thai wholesale network provider International Gateway Company (IGC) to collaborate on various projects in Thailand and around ASEAN, including cable landing stations and submarine cable systems.
Monday’s investment announcement comes three months after OMS Group secured facilities valued at US$292.5 million from a consortium of financial institutions, including HSBC, Affin Bank, Affin Hwang Investment Bank, BDO Capital & Investment Corporation, E-Sun Commercial Bank, and SinoPac. KKR Capital Markets facilitated the exercise.
In October last year, KKR agreed to invest US$400 million in a tailored solution for OMS Group. KKR said at the time the investment would enable OMS to accelerate its growth by expanding its fleet size and capabilities, as well as investing in cable landing stations and subsea cable routes to serve fast-growing demand for cross-border data transmission and comprehensive subsea cable services.