CARE! this should now be the "ex-" Asia Energy - had a Coal Project in India that went bad.
they bought some African coal-interest I believe and changed their name - - - a bit too Big to my mind - "World Domination" - er, springs to mind.......but who knows?
/
Does anyone have an issue with burning coal, now that we are trying to reduce "carbon"...?

Stock is about 110 pence (mid) early Jan07.

Global Coal Management PLC
22 January 2007

22 January 2007


Strategic Investment in Bangladesh's Leading PSTN Operator providing Fixed,
Wireless Loop, Data and Internet Service


Global Coal Management plc ('GCM'), formerly Asia Energy Plc, (AIM: GCM)
announces it has signed a Memorandum of Understanding ('MOU') to make a further
strategic investment in Bangladesh by subscribing for 26.5% of the equity in
Peoples Telecom and Information Services Ltd ('PeoplesTel'). The US$5 million
investment is subject to the approval of the Bangladesh Board of Investment
('BOI').


GCM has identified PeoplesTel as an exciting investment opportunity which also
brings significant benefits to the development of the Phulbari Coal Project
('the Project') by ensuring that modern and extensive telecommunication networks
and infrastructure are in place across all areas (mine site, transport corridor,
port operations etc.) of the Project.


Steve Bywater, Global Coal Management's CEO commented:


'I am delighted with this investment in PeoplesTel. It demonstrates our
strong desire to play a positive role in the development of Bangladesh's
economic infrastructure and is entirely consistent with our long term commitment
to Bangladesh. It will also ensure that we have a world class telecoms
infrastructure for the Phulbari Coal Project. We remain focused on implementing
the Phulbari Coal Project.'


PeoplesTel, an established Bangladesh fixed line telephone operator since 1989,
is currently undertaking a rapid expansion plan. In excess of US$15 million has
been invested to date by PeoplesTel's existing shareholders, including the
founder of the company Tim Nurun Nabi. Mr Nabi has also founded a number of
successful enterprises in Bangladesh, including Hayes (Bangladesh) Limited and
Hayes-Haier Appliances Company Limited, which is a joint venture with Haier of
China, the largest manufacturer of white goods in China.



PeoplesTel's expansion plan for the next 5 years is to provide world class voice
and data services across Bangladesh, targeting 1 million new subscribers and
focusing on the developing rural regions. PeoplesTel has BOI approval to invest
up to US$379 million of domestic and foreign investment to provide fixed line or
wireless telephone connections in Bangladesh. This gives PeoplesTel the ability
to grow rapidly by reinvesting cash flow without needing further Government
approvals.



The US$5 million investment will be used by PeoplesTel to acquire the capital
equipment (primarily handsets and electronic switching devices) to add a further
55,000 fixed line and wireless loop subscribers to the network. This will
significantly increase the company's turn-over and cash flow positions and allow
PeoplesTel to continue to expand its network, services and subscribers. The
network currently being completed is able to handle approximately 1 million
subscribers without the need for additional major infrastructure to be
installed.



Currently, PeoplesTel has 120 operational exchanges throughout all 4 regions
(North West, North East, South West and South East) of the country and an
additional 23 CDMA 2000 1X 450 MHZ WLL BTS have been integrated into the
network in December 2006. PeoplesTel currently employs over 280 people.



PeoplesTel is strategically positioned to secure a license for Dhaka City
(expected to be issued in 2007). It owns the largest range of wireless spectrum
of any operator in Bangladesh, including the valuable 3G compliant 450MHz
spectrum, and has recently secured a VoIP License.



PeoplesTel, having recently completed a 17km fibre optic ring around Dhaka City,
has full interconnect agreements in place with the major cellular operators and
fixed line operators, including the government owned BTTB. These companies
collectively access approximately 15 million subscribers. PeoplesTel has leased
an additional 208km fibre optic backbone to connect to the densely populated
(approximately 7 million people), and high GDP generating, region of Chittagong.

Interesting development. Looks like a nice co-operative move.

News from Cairn Energy related to Bangladesh energy requirements. Gas field depletion is faster than anticipated.

http://www.bangladesh-web.com/news/view.php?hidDate=2007-01-23&hidType=TOP&hidRecord=0000000000000000147781

I started a new thread with a chart etc hope you dont mind :)