Securelink Networks has increased its stake in the PT&T joint venture to 50.1%, securing effective control, while its VSN Plus product gains strong traction in the Philippine market. The company also advances its ASX re-listing efforts amid ongoing cost reductions.
- Receipts from customers reached $1.276 million in Q2 FY2026
- Increased JV stake in PT&T to 50.1%, enabling consolidation
- New board and executive appointments strengthen management
- Cost-cutting measures continue with back-office functions moved offshore
- ASX re-listing process underway with lender support for equity raising
Operational Momentum in the Philippines
Securelink Networks Limited (ASX, SN8) has reported a quarter marked by strategic consolidation and operational progress, particularly in the fast-growing Philippine market. The company’s flagship VSN Plus platform is gaining significant traction across enterprise and government sectors, with sales revenue accelerating and a robust pipeline of approximately $10 million in qualified opportunities. This momentum is underpinned by new client wins, including deployments with Dynasty and the Department of Information and Communications Technology, and strengthened partnerships with industry heavyweights such as Lenovo, IBM, and Maxava.
Support from Austrade and engagement with local institutions like ANZCham have further elevated Securelink’s profile, positioning it as a credible cybersecurity and IT services provider in the region. The company’s focus on delivering secure, borderless connectivity aligns well with the increasing demand for flexible, cost-effective networking solutions in Asia.
Strategic Control and Corporate Restructuring
A pivotal development this quarter was Securelink’s increase in its joint venture stake with PT&T from 49% to 50.1%, granting it effective control and the ability to consolidate the JV’s accounts. This move not only strengthens Securelink’s influence over the JV’s operations but also enhances its strategic positioning to capitalize on the ASEAN market’s growth potential.
Complementing this shift, the company has bolstered its leadership team with the appointment of James Velasquez, President & CEO of Securelink Networks Inc. and Chairman of PT&T, as a Non-Executive Director. Additionally, the interim CFO Ayten Saridas and Company Secretary Leonard Math bring extensive experience to the management team, supporting Securelink’s operational and financial governance as it navigates its next growth phase.
Financial Discipline and ASX Re-Listing Progress
Financially, Securelink reported receipts from customers of $1.276 million for the quarter, contributing to a year-to-date total of $2.138 million. Despite a net operating cash outflow of $652,000 for the quarter, the company is actively managing costs, including relocating back-office functions to the Philippines and reducing staff and administration expenses. The closing cash balance stood at $210,000, with ongoing efforts to restructure debt facilities aimed at lowering interest costs and extending maturities.
Crucially, Securelink continues to engage with the ASX to lift its trading suspension and facilitate a re-listing. Management has secured lender support pending re-admission, with plans for an equity raising to bolster the company’s capital position. These steps are vital to ensuring Securelink’s operational continuity and funding its growth ambitions.
Looking Ahead
As Securelink consolidates its JV control and advances its market penetration in the Philippines, the company’s strategic and financial restructuring efforts will be key to sustaining momentum. The upcoming quarters will be telling in how effectively Securelink can convert its sales pipeline into revenue growth and secure the necessary capital to support its expansion across ASEAN.
Bottom Line?
Securelink’s strengthened JV control and market traction set the stage for a critical re-listing and growth phase.
Questions in the middle?
- When will the ASX lift the trading suspension and allow Securelink’s shares to trade again?
- How quickly can Securelink convert its $10 million sales pipeline into actual revenue?
- What impact will the debt restructuring and planned equity raising have on shareholder value?