~ TELEM losing money over the years.~
PHILIPSBURG:--- Reliable information reaching SMN News states that the management board and the supervisory board of directors of TELEM Group of Companies have decided to close down SMITHCOM DOMINICANA a company that established in the Dominican Republic to enhance TELEM services. The company which took over ten years to get off the ground came to a halt when the business partners in the Dominican Republic informed TELEM St. Maarten that they would need over $80,000.00 to buy new equipment since the ones they have are outdated and cannot bridge with the equipment TELEM Group of Companies are using. Another defining factor for closing the company is that TELEM Group of Companies will not make any type of profit since the services the company would be providing is now outdated, especially since the introduction of WhatsApp and other social media calls.
SMN News learned the decision to close the overseas-based company was taken in early 2020 but the company office in the Dominican Republic is still opened with at least one staff member. SMN News further understands the process to dissolve the company in the Dominican Republic has not yet finalized.