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MediaRing Ltd, Asia Pacific's premier IP communications solutions provider of Voice, Data and Computing services, reported S$38.6 million (US$27.7 million) consolidated revenue for (Jul-Sep 2009) Q3. The Group also reported a Loss of S$3.9 million (US$2.8 million) compared to a marginal Profit of S$ 3,000 (US$ 2,000) in Q3 2008.

"Besides the recessionary climate, our Q3 results were substantially affected by the one-time payouts to the staff for the right-sizing exercise and the consequential impact of corporate and sales team restructuring/realigning..." commented Ashok Goyal, MediaRing-CEO. "Without the right-sizing exercise, the loss would have been only S$1.5 million (US$1.1 million)".

MediaRing’s operations are at a "...critical hockey-stick inflexion point". It was necessary that "...we execute these proactive correctional measures to ensure that MediaRing achieves optimal efficiency and moves on to a growth trajectory", he explained.

"Drawing upon the synergistic capabilities of Spice Group, MediaRing is being repositioned as a multiproduct global corporation, expanding into new geographies and driving growth through technotronic innovation realizing the dreams of the new mobile internet society" – said Chairman Dr. B K Modi.

The company will aggressively focus efforts on India and other developing countries in South Asia, South-East Asia and Middle East. The company perceives huge business-growth opportunities in these countries which have approximately 40% of the world's youth and young adult population, but relatively low mobile and internet penetration.

MediaRing has also made a bid to forge an alliance with MTNL (a Government of India company) for operating 3G mobile services in Delhi and Mumbai, the 2 largest metros on the sub-continent, decision on which is expected by end-December 2009.

The company is also getting into mobile-internet telephony and trading business based on its sourcing strategy from China. Leveraging Spice Group’s technical and business knowhow, the company is in final stage of formulating plans to launch Mobile Phones and IP Phones. This would also help in combining voice products with mobile devices.

MediaRing's upgraded portfolio of calling services is being aggressively driven through MediaRing Talk which currently has 2.93 million subscribers. MediaRing Talk allows free connectivity to 8 countries (including USA, Canada, UK and China) and has acquired over 400,000 new subscribers, in the past 9 weeks (since 31 August 2009), adding 6,000 to 8,000 subscribers every day.

MediaRing Talk for Mobile will now allow marketers to advertise to its subscribers, while also providing value added services like Music-on-Demand, Newsfeeds, Overseas Radio, Premium Chat Services, Astrology and SMS contests. This will substantially reduce the calling costs of our esteemed subscribers. By using our Utility Computing model, CIOs are realizing that capital expenditure can be substantially reduced, still expanding their IT capabilities. Customers pay only for the capacity used.

Queries may be directed to Prashun Dutt
Tel: 9188-0621; Email: vedastra@gmail.com
Interviews with the CEO can be arranged on request.

About MediaRing:
Leveraging its strong technological expertise, leading edge in VoIP and global distribution network, MediaRing delivers a wide range of Voice, Data and Computing services to carriers, enterprises, service providers and consumers worldwide. MediaRing's service portfolio includes Utility Computing, IT Infrastructure, Hosting and Outsourcing, Broadband Access, Managed Network and various other Network based services.

MediaRing Ltd is listed on the mainboard of Singapore Stock exchange since 1999, trading under the ticker symbol SGX: M09. Following acquisition of shareholding by Spice Innovation Technologies Pte Ltd, MediaRing operations are now being driven by global entrepreneur Dr B K Modi's Spice Global Group.