*  *  *  Your Excellencies, Ladies and Gentlemen: I should like to thank His Excellency Minister Lim for his kind words of introduction and His Excellency Heng Swee Keat, Managing Director of the Monetary Authority of Singapore for his kind invitation to participate in this landmark event.
It is created in the realisation that the telecom industry can and does have a positive impact on human lives by the use of new technologies. Advancement in the telecommunication sector and in particular the internet has, in the developed world at least, presented the market new and convenient ways of interaction between the customer and the supplier of goods and or services.