The Malta Independent on Sunday
Epic enters into a strategic partnership with Phoenix Tower International
Partnership will lead to increased investment in mobile network modernisation, 5G and fixed services
• Sale of 100% of M.T. Mediterranean Towers Limited, Epic
Malta’s fully-owned infrastructure management company
• Partnership in line with Epic’s strategy to provide the no. 1 network in Malta, will lead to increased investment in mobile network modernisation, 5G and Fibre to the Home
Epic Communications Limited announced that it has entered into an agreement with Phoenix Tower International (PTI) for the sale of the entire share capital of M. T. Mediterranean Towers Limited, its fully-owned mobile telecom infrastructure management company in Malta.
This passive mobile infrastructure essentially encompasses metallic and concrete elements such as towers and masts. Epic will retain full ownership and management of the Epic base stations, antenna and all telecom-related active equipment that is typically located on such infrastructure, which equipment is critical for the company to offer its core services to its end consumers.
Epic and PTI will enter into a long-term service agreement for the provision of hosting services over the infrastructure as well as the construction of new sites through a build-to-suit programme, securing longterm access by Epic to such infrastructure.
Tamas Banyai, chief Executive officer of Epic Communications Limited, said: “This transaction helps us continue to provide the best network together with great value in Malta, by accelerating our investment plans which target modernising our mobile network including the future rollout of 5G and expanding our service portfolio in fixed services, as well. As a leading international company, PTI is the best possible partner to help us on this mission, with their extensive experience in passive infrastructure management in North and South America, France, Italy and Ireland.”
Under the same transaction, Phoenix Tower International will also acquire the passive mobile telecom infrastructure of Epic Cyprus. The total sites portfolio of both Epic Cyprus and Malta will be 815 sites at closing. The transaction is subject to customary conditions precedent for this type of transaction and is expected to close by the end of this year.
Rising bond yields dragged European stocks lower on Friday, although major bourses were set for weekly gains as stimulus and vaccination programmes spurred hopes of a solid economic recovery.
The pan-European STOXX 600 index fell 0.3% after a four-session winning streak drove it to pre-pandemic highs a day earlier. The index posted weekly gains of 3.5%, its best performance since November.
MSCI’s gauge of stocks across the globe shed 0.06%. Emerging market stocks lost 0.69%. Overnight, MSCI’s broadest index of Asia-Pacific shares outside Japan closed 0.64% lower, while Japan’s Nikkei rose 1.73%. U.S. 10-year Treasury yields rose above 1.6% and posted their seventh consecutive weekly rise.
Tame U.S. inflation data and signs from the European Central Bank that it was ready to accelerate money-printing to keep a lid on borrowing costs helped boost risk appetite this week. With government bond yields in the United States and Europe rising again on Friday, investors took some money off the table.
U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law on Thursday, with direct deposits from the legislation expected to go to Americans as early as this weekend. While the stimulus is expected to give a boost to the U.S. economy, it has also raised worries about a spike in inflation that could push central banks to tighten monetary policy.
The Dow had its biggest week so far this year with a 4.1% advance and the Nasdaq posted its first positive week in four, up 3.1%.
U.S. data showed producer prices posted in February their largest annual gain in nearly 21/2 years, but the currently high unemployment rate could make it harder for businesses to pass on the higher costs to consumers.
Oil prices fell, with both Brent and WTI down slightly for the week after rising more than 10% over the past two.
This article was compiled by BOV Asset Management Limited, a member of the BOV Group. BOV Asset Management,TG Complex, Suite 2, Level 3, Brewery Str., Mriehel BKR 3000. Email: infoassetmanagement@bov.com Internet address: www.bovassetmanagement.com. BOV Asset Management is licensed by the MFSA.
With the launch of Aktuaris 2.0, HandsOn Systems CEO Geoffrey Farrugia believes that insurance companies now have an end-toend solution backed by all the expertise necessary to customise a usage-based insurance product, launch it and provide all the backup needed to ensure complete success.
Motor insurance is slowly but surely gravitating towards the usage-based model. Connected vehicles enable insurance providers to receive real-time data on their clients’ motoring behaviour and, in turn, share it with them – with a view to reward safe drivers and promote safety.
Leading local telematics company HandsOn Systems has just launched the second-generation usage-based insurance (UBI) platform, Aktuaris, which has been well received by clients worldwide. According to Farrugia, the main objectives of this technology are to:
• educate drivers, both private and commercial;
• increase user engagement; and
• reduce traffic, pollution and wear-and-tear in the vehicles.
“Thanks to the Aktuaris solution, costs will be reduced, both for the insurance company because it is going to have fewer claims and for private drivers and fleet operators, because they are more aware of how much they are driving and the way they are driving,” Farrugia said.
Aktuaris uses the latest technology that capitalises on business intelligence (BI) to enable insurance companies to collect data, process it and analyse it so that
they can take informed decisions – and, in turn, encourage drivers to improve their driving behaviour.
“With real-time, dynamic data, with all the GDPR and IVC security safeguards, insurance companies are not relying on static, historical information to assess risk. They also have the possibility to reward better driving and improved safety habits among the drivers in its fleet,” Farrugia said.
The Aktuaris solution consists of three elements:
• a portal that collects real-time dynamic data for the insurance company (this can be integrated with its current back office solutions);
• a mobile app that can be customised and branded for the insurance company, that can offer behaviour and driving style feedback to the insurance company’s clients; and
• a device that can either be plugand-play or hard-wired – usually used for fleets.
“We are offering an end-to-end solution whereby we not only offer the device and attendant software, but we also help the client from a productisation aspect,” Farrugia said. “Clients, even large insurance companies, sometimes lack the resources in terms of time to implement a new product of this scale. So, we have a team of consultants and experts, including an actuary, to enable them to take a phased approach to implementing Aktuaris.”
In the first phase, the insurance company evaluates the technology and sees a demo of the product; in the second phase HandsOn
Systems assists the company to create a product from this concept and the entire marketing and product support needed to create this UBI product; and in the third phase the company launches its UBI product and goes live.
“We have placed a lot of importance to ensure the device installed in the vehicle is not invasive – not to affect the vehicle’s warranty. So, we are offering an OBD device or installing one through the fuse box. We don’t have to tear any wires,” Farrugia said.
“In the next five years, the adoption of UBI will be the norm, rather than the exception. This model will not only be applied to motor insurance but potentially to other forms of insurance, like health,” he concluded.
Aktuaris 2.0 was launched during a webinar that was livestreamed on Facebook. Full details are available at www.aktuaris.com