Eagle Oil Holding Company, Inc. (OTCMKTS:EGOH) subsidiary reported that it had entered into late-stage talks for the deployment of wireless broadband offerings in Vietnam and Garden Grove. The company’s business development associate, World Associates brought subsidiary, a proposal in the form of a LOI, plus a non-refundable deposit, to offer a cloud, metro-Wi-Fi set-up for wireless broadband services in several places close to Ho Chi Minh City.
The comprehensive end-to-end, wireless set-up will offer municipal departments, households and tourists with a single, integrated, system that improves ICT infrastructure, high-speed, smart-city capabilities, internet connectivity and enhances data communications. This will certainly lead to the reduced costs per Mbps and unparalleled capacity for a conventional cellular network.
Eagle Oil reported that the deployment is scheduled to commence in 1Q2016 or earlier. Also, World Associates brought company another LOI to offer similar services in Garden Grove. However, the deployment in Garden Grove is expected to commence in 4Q2015.
Relationship with Sweratel
In last week of August, Pablo L. Nieto, Jr., the Chief Executive of Eagle Oil updated on the status of company’s association with Sweratel AB. The CEO said that their relationship with Sweratel is solid but changed and they are very much in the segment of establishing high-speed wireless systems based on their know-how.
Sweratel recently reported that they terminated Eagle Oil’s Exclusive VAD agreement. The CEO said that they do not deny this fact. The deal required them to make assured payments by a particular time. However, due to incompletion of capital generation plans, the company was not in a position to respect the payments.
Despite this, Sweratel stated that they may buy the Sweratel product-line and they will continue to back Eagle Oil Holding Company, Inc. (OTCMKTS:EGOH) on a project by project basis. Nieto said that once they complete recapitalization process, they will move forward with planned projects.