Bizdata Insights Main Logo

Robi’s Offspring Reddot Digital Launches AxEnTec PLC

Industry: Telecom, Telecom & Mobile
Company: Robi
Company Intelligence Tag: Business Insights

Robi Axiata’s subsidiary, Reddot Digital Ltd, has announced the launch of a new entity, “AxEnTec PLC,” dedicated to providing IT solutions and digital services. The new subsidiary will focus on sales, distribution, and marketing of connectivity, ICT solutions, software applications, hardware, data centers, cloud infrastructure, Internet of Things (IoT), and cyber security. The demerger of Reddot Digital has been approved by the board, pending the High Court’s consent. AxEnTec PLC will be headquartered in Bangladesh, aiming to bolster the government’s digital goals and support consumers through its subsidiaries.

Robi Axiata, the second-largest telecom operator, has been striving to enhance its services and expand its customer base. In 2022, the company formed “Smart Pay,” a 100 per cent subsidiary, offering electronic payment and related services. With Axiata Group holding a controlling stake of 61.82 per cent, Bharti Airtel of India at 28.18 per cent, and the general public with the remaining 10 per cent, Robi posted a 5.52 per cent year-on-year profit growth, amounting to Tk 420 million for January-March, driven by increased revenue. Despite being a 4G leader and pioneering 4.5G services in all 64 districts in 2018, the company’s share price has remained stagnant at Tk 30 on the Dhaka Stock Exchange. Recently, Robi decided to secure a $55 million loan from its parent company, Axiata Group Berhad, for a three-year period.

Source for more details:

Related News

Biman Bangladesh Expands Middle East Flight Operations

December 4, 2023

Biman Bangladesh Airlines responds to rising demand by expanding flight services on key Middle East routes. Effective 28 December, BG235 introduces direct flights between Sylhet and Jeddah every Thursday, enhancing travel options to Saudi Arabia. Beginning 21 February 2024, BG236 offers direct Jeddah-Sylhet flights every Wednesday to cater to expatriates and pilgrims.

3rd Bangladesh Sustainability Awards Honor Six Firms

December 3, 2023

The 3rd Bangladesh Sustainability Excellence Awards, hosted by The Daily Star and CSR Window Bangladesh, recognized six companies and three young humanitarians for their outstanding sustainable and socially impactful initiatives.

UNIDO Adopts BD’s Resolution for Sustainable Supply Chain

December 3, 2023

The United Nations Industrial Development Organization (UNIDO) endorsed Bangladesh's resolution on enhancing member states' capabilities in building resilient and sustainable supply chains during its 20th General Conference in Vienna. With participation from leaders of 172 member states, the week-long conference addressed the disruptions caused by the COVID-19 pandemic and the Ukraine war to global supply chains.

FAS Finance Reports Tk 2.03 Billion Loss

December 2, 2023

FAS Finance & Investment faces a grim fate, with continuous losses over nearly five years, leaving the first-generation financial institution on the brink of collapse. The latest financial results for the nine months through September reveal a loss of Tk 2.03 billion, accumulating to nearly Tk 16 billion in losses until September 2023.

Loopdot Fashion’s $6.8 Million Export Fraud Exposed

December 2, 2023

A major export fraud involving Loopdot Fashion Limited in Mymensingh, Bangladesh, has been exposed, with 225 consignments of garments falsely exported, totaling $6.8 million or 75 million taka. The fraud was revealed during the seizure of two consignments

Intraco Set to Supply Gas From Bhola to Industries

November 30, 2023

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.

Related News

Biman Bangladesh Expands Middle East Flight Operations

December 4, 2023

Biman Bangladesh Airlines responds to rising demand by expanding flight services on key Middle East routes. Effective 28 December, BG235 introduces direct flights between Sylhet and Jeddah every Thursday, enhancing travel options to Saudi Arabia. Beginning 21 February 2024, BG236 offers direct Jeddah-Sylhet flights every Wednesday to cater to expatriates and pilgrims.

3rd Bangladesh Sustainability Awards Honor Six Firms

December 3, 2023

The 3rd Bangladesh Sustainability Excellence Awards, hosted by The Daily Star and CSR Window Bangladesh, recognized six companies and three young humanitarians for their outstanding sustainable and socially impactful initiatives.

UNIDO Adopts BD’s Resolution for Sustainable Supply Chain

December 3, 2023

The United Nations Industrial Development Organization (UNIDO) endorsed Bangladesh's resolution on enhancing member states' capabilities in building resilient and sustainable supply chains during its 20th General Conference in Vienna. With participation from leaders of 172 member states, the week-long conference addressed the disruptions caused by the COVID-19 pandemic and the Ukraine war to global supply chains.

FAS Finance Reports Tk 2.03 Billion Loss

December 2, 2023

FAS Finance & Investment faces a grim fate, with continuous losses over nearly five years, leaving the first-generation financial institution on the brink of collapse. The latest financial results for the nine months through September reveal a loss of Tk 2.03 billion, accumulating to nearly Tk 16 billion in losses until September 2023.

Loopdot Fashion’s $6.8 Million Export Fraud Exposed

December 2, 2023

A major export fraud involving Loopdot Fashion Limited in Mymensingh, Bangladesh, has been exposed, with 225 consignments of garments falsely exported, totaling $6.8 million or 75 million taka. The fraud was revealed during the seizure of two consignments

Intraco Set to Supply Gas From Bhola to Industries

November 30, 2023

Intraco Refueling Station is set to transport stranded gas from Bhola Island to industrial boilers near the capital, providing a breakthrough in gas supply amid shortages. The company plans to supply compressed natural gas (CNG) to the Gazipur and Bhaluka industrial belts initially, alleviating the low piped-gas pressure in these areas.

Shopping cart

0
image/svg+xml

No products in the cart.

Continue Shopping

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here