From Telco to Oil and Gas, a Great Leap Forward

Keywest Global Communications Bhd Executive Director Stephen Ng discusses his plans to transform his telco services company into an upstream oil and gas services company.
In addition he also discusses:
- The background to, reasons for his entry;
- Whose shares he bought;
- Plans to sell the telco business: timeline, amount to be raised, and impact on balance sheet;
- He also talks about trade receivables and RPTs, issues which plagued Key West in its last FY;

 And then, moving on to the oil and gas sector, he talks about:
- The expertise needed to be in oil and gas;
- Location of the oilfields
- No. of oil fields - prospects
- Reasons behind Key West having the right to 70 percent of the JV proceeds?
- Key West's future capital commitments in oil and gas;
- Prospects of O&G in turning the company around;
- Upside of the venture, since they don't own the oil, and only get an extraction fee;
- The fact that they only have eight wells under the present arrangement, and for a period of just 5 years.