PACRA Assigns Initial Entity Ratings to Trans World Associates (Private) Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- September 05, 2022 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

Quote

Trans World Associates (Pvt.) Limited ("the Company" or "TWA") ratings reflect a strong business profile and sturdy presence in the telecommunication industry of Pakistan. The Company was a subsidiary of Orascom Investment Holding S.A.E (OIH), Egypt with 51% holding. In January 2022 OIH divested its shareholding to Orastar Limited, an existing shareholder of the Company. As of now, three companies operate under the umbrella of TWA which includes; (i) Trans World Enterprises Services (Pvt) Ltd (TES) (ii) Trans World Infrastructure Services (Pvt) Ltd (TIS) and (iii) TES Media (Pvt) Ltd (TMPL).

There are only two companies in Pakistan having direct access to the submarine fiber optic cable network, PTCL and TWA. TWA is the only private telecom Tier-I operator (which is backed by owned and self- laid submarine cable network) in Pakistan which owns a 1,300 KM submarine cable system TW1and they are also a consortium member of the 20,000 KM fiber optic cable system SEA-ME-WE 5 with branch landing in Karachi. The core function of the Company is to provide internet bandwidth to Pakistan's top cellular mobile operators, ISPs, corporate organizations and multiple small and medium enterprises as they are perfectly synchronized to the global Internet peering ecosystem via direct connectivity to content providers such as Google, Facebook, Amazon etc.

All internet traffic in Pakistan comes through PTCL and TWA. TWA has built its reputation by providing reliable backhaul connectivity services to Pakistan's leading ISPs and telecom operators. The board of TWA is more of an advisory nature as all members are well-experienced and possess technical expertise along with strapping industry- specific experience. BoD members take monthly...

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