Net TV

L to R: Samantha Ranatunga, Chairman, HVA Foods PLC; Jan Müggenburg, Chief Executive Officer, Müggenburg Group; Graham Stork, Chief Executive Officer, HVA Foods PLC; Sarva Ameresekere, Group Chairman, George Steuart & Co. Ltd.

Feb 27, 2008 (LBO) – Sri Lanka Telecom, the island's dominant fixed line operator, Wednesday announced it had set up a subsidiary to provide internet television programmes with a planned investment of 100 million rupees. The fully-owned subsidiary called SLT Visioncom would provide internet-based television services to its broadband customers, the company said in a statement to the Colombo bourse.

"By the deployment of IPTV, SLT expects to optimize the use of its existing broadband access networks," it said.

"IPTV is viewed as a value added service with strategic importance in the future broadband service portfolio of SLT."

SLT had more than 54,000 broadband customers and 88,000 post paid Internet dial up customers by the end of 2007.

The company reported earnings for 2007 were flat as tariff cuts hit the bottom line but that revenue from broad band services, data circuits and internet services were the key for future growth. .