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Teledata secures exclusive right to negotiate for the acquisition of a majority stake in Elektromotivez

SINGAPORE – 27 April 2010 – Teledata (Singapore) Limited 电传数据有限公司 (“Teledata” or the “Group”), a leading regional IT systems integrator and communications services company, is planning to create a new revenue stream by diversifying into the green technology industry.

The Group announced today that it has secured the exclusive right, for a period of five weeks, to negotiate with HH Prince Abdul Hakeem from Brunei (the “Vendor”) for the proposed acquisition of a 51% stake in Elektromotive Ltd, a leading provider of technology and engineering solutions for smart electric vehicle recharging stations.

About Elektromotive
Founded in 2003 and based in Brighton, UK, Elektromotive designs and installs leading edge technology for recharging electric and plug-in hybrid electric vehicles. Its main product is the Elektrobay, a recharging station for on-street or multi-storey car park use.

Elektrobays are typically situated next to parking bays, within easy reach of an electric vehicle’s charging point. The Elektrobay’s socket is located under a secure, weather-proof door, accessed using a personalized key fob. When charging is in progress, the door locks shut to prevent interference.

The simple-to-operate Elektrobay was first introduced in Westminster, London, in 2006, and is now installed in cities and shopping centres around the UK. Elektromotive also exports Elektrobays to Belgium, Denmark, Luxembourg, Iceland, Sweden, The Netherlands, Germany, South Korea and Saudi Arabia.

Diversification into the green technology industry
Commenting on the proposed deal, Mr Christopher Pan, Chairman and CEO of Teledata, says, “There is a very good strategic fit between the two companies – Elektromotive can leverage Teledata’s system integration expertise and markets, while Teledata enters an exciting new area and expands its geographic presence.”

“As the market size for smart electric vehicle recharging stations is over USD200 billion globally, the opportunity can give Teledata a head start in the deployment of the smart electric vehicle recharging station networks globally,” adds Mr Pan.

Indeed, Singapore is also receptive to the prospect of electric vehicles. A multi-agency taskforce chaired by the Energy Market Authority (“EMA”) and Land Transport Authority (“LTA”) has been set up to test bed electric vehicles, and assess the benefits and applicability of adopting electric vehicles in Singapore.

The EMA has since called a Request for Proposal (“RFP”) to select an electric vehicle Charging Service Provider (“CSP”) to roll out a network of electric vehicle charging stations in Singapore, in support of the test-bed programme.

According to a Business Times’ article published today, the selected CSP has to deploy up to 20 normal charging stations and one quick-charging station by end-October this year at locations recommended by EMA, followed by one month’s testing and trouble-shooting. The electric vehicle charging infrastructure, including billing systems, should be operational by end- November to support the first batch of electric vehicles expected to run on Singapore roads in the fourth quarter.

“While IT systems integration and communications services will remain as Teledata’s core business, we believe that it is necessary to diversify the Group’s revenue stream with the aim of creating long-term shareholder value. And, Teledata provides the technology and systems integration to enable the electric vehicle recharging network to be smart,” elaborates Mr Pan.

“Elektromotive is a pioneer in developing the world’s first truly generic electric vehicle refuelling network. We see immense investment potential in the alternative energy transport system, which is a “blue ocean” or an uncontested market space. If our acquisition of a majority stake in Elektromotive is successful, Teledata will leapfrog into the green technology space and create a new revenue stream for the Group,” concludes Mr Pan.

The Group will make the necessary announcements when there are any further developments on the proposed acquisition.

About Teledata (Singapore) Limited
Listed on the Main Board of the Singapore Exchange in 1994, Teledata is a leading IT systems integrator and communications services company, unique for the depth of its capabilities and the dedication of its people. Its people are experts in communications technology and excel at delivering customised communications services and solutions to its customers.

Founded in May 1976, Teledata has since grown to become a regional company with offices in 6 countries and customers throughout the Asia Pacific region. The Group’s clientele range from large enterprises and telecommunication carriers to small enterprises in varied industries, some of which have been the Group’s customers for over 30 years. To deliver best-of breed, advanced and flexible solutions, the Group partners world-class technology providers from around the world.