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Founded in 1993 by a team of engineers and incorporated that same year, MediaRing has grown to become the leading VoIP service provider in Asia, with a growing share of the global pure-play VoIP market. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality voice communication services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. In its early years, MediaRing focused on delivering ISDN and video conferencing solutions before deciding to concentrate on a VoIP strategy in the late 1990s. The company's business model also underwent a transformation from its initial "dotcom" business model based on advertising dollars and delivery of free telephony services to a fee-based VoIP services model. To oversee the changes, the board recruited a new management team with deep telecommunications and computing experience that worked with the company's veteran engineering team to build a global network. In the span of only three years, MediaRing expanded its services from Asia to the Middle East, Africa and Latin America so that the company currently derives more than 95 per cent of its revenue from outside Singapore. MediaRing's bottom line turned positive in Fiscal 2004 and profits continued to grow in Fiscal 2005, based on its technological advantages and an interconnected global distribution network that enables the company to terminate calls in approximately 200 countries, 24 hours a day, seven days a week. Riding on increasing adoption of VoIP services, the company generated over a billion call-minutes in 2005, helping consumers and corporate customers globally to achieve substantial savings on long-distance and international calls. Stable but sustainable growth, bolstered by a strong management team, leaves the company well-positioned to expand into a truly global Telco in the future. MediaRing is headquartered in Singapore, with offices in Sunnyvale (USA), Tokyo, Shanghai, Beijing, Hong Kong, Taiwan, Kuala Lumpur, and Cambodia. The company is listed on the Main Board of the Singapore Exchange since November of 1999, and trades under the symbol MRNG. SI (Bloomberg: MR SP).