Yesterday, the company entered into a subscription and shareholders agreement with VeriSign Inc, a world leader in Internet trust services, MSC Cybersign International Sdn Bhd and Meitech Development Sdn Bhd.
Pursuant to the agreement, Lityan and VeriSign will each subscribe for 13.33 percent stake in Cybersign, a Multimedia Development Corporation Sdn Bhd (MDC) subsidiary which was established as certification authority.
Cybersign would deploy critical Internet trust services such as authentication, validation and payment, said chief operating officer of Lityan, Tengku Asmaluddin Tengku Arshad, after the company's annual general meeting here today.
It's activities will include issuing digital certificates, the establishment of a public key infrastructure and the provision of cryptographic technology for the internet market.
Tengku Asmaluddin said, the services, which would be available by next year, were essential for websites, enterprises and electronic commerce service providers.
"We are going to tap the government sector, financial institutions, big conglomerates as well as big enterprises," he noted.
He also said that the company's payphone network rollout in the Philippines was right on track.
To date, it had installed close to 5,300 units of payphones in five areas in the Manila city and manages every aspect of its operations from installation, distribution of prepaid cards to coin collection.
Tengku Asmaluddin said plans are underway to provide such facilities in 10 other areas in the city.
He said the company has operation in Madagascar with its Global System for Mobile communication (GSM) network subscribers which had increased to over 3,000 representing more than 10 percent of market share.
Besides having introduced pre-paid service, other value-added services and packages to suit various customer segments will be introduced to increase subscribers.
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