Kay & Que (Bangladesh) has become the sales agent for Starlink Satellite Internet Service in Bangladesh, a move expected to increase the company's revenue and income in the coming quarters.
The listed IT venture, belonging to the conglomerate Multimode Group owned by BNP Vice Chairman Abdul Awal Mintoo, currently earns revenue from selling fuel through its CNG filling stations and from IT services.
The company's latest disclosure reveals a new window of earnings.
According to the disclosure, Kay & Que has executed a sales agent agreement with Bangladesh Satellite Company Limited (BSCL), under which it has been appointed as a countrywide sales agent for Starlink Satellite Internet Service in Bangladesh.
The company management expects that this strategic engagement will have a positive impact on business operations and revenue generation in the coming quarters.
"We will get 2 per cent on data sales and 7 per cent on hardware sales for Starlink connections," Kazi Ekramul Hoque, chief financial officer of the company, told the FE.
Starlink is a global satellite internet service operated by SpaceX, the private aerospace company founded by Elon Musk. It uses a constellation of low-earth-orbit (LEO) satellites to deliver broadband internet, especially to areas where ground infrastructure is limited. It now has a licence to operate in Bangladesh.
Bangladesh Satellite Company Limited (BSCL) is a government-owned satellite operator established to operate national satellites, such as Bangladesh Satellite-1, a geostationary communications satellite.
BSCL has also signed a business deal to resell Starlink hardware and services, including user terminals and data packages, to local enterprise clients. Kay & Que will now work with BSCL to distribute Starlink connections in Bangladesh.
Starlink offers two main residential packages-Residential Lite at Tk 4,200 per month and Residential Standard at Tk 6,000 per month-both featuring unlimited high-speed data. Users must bear a one-time hardware kit cost of approximately Tk 47,000.
Following the disclosure, Kay & Que's share price rose by 0.73 per cent to Tk 399.1 on Thursday on the Dhaka Stock Exchange (DSE).
Kay & Que (Bangladesh) was originally a manufacturer of carbon rods, coal tar, and pesticides, but those operations were closed due to economic and supply constraints.
Currently, the company operates CNG filling and refueling stations, serving automotive customers with compressed natural gas (CNG) fuel.
After a merger with MultiSourcing Limited, an ICT firm, Kay & Que began providing information technology and digital solutions.
The company is also involved in the sale of stones and boulders and leases out vacant land and office spaces to other businesses, such as CG Foods (Bangladesh) Ltd., as part of its non-operational income streams.
Business diversification through technology services has improved profitability, marking a strategic shift from fuel and stone businesses.
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