Trading in Davnet shares was suspended last week as the company tried to put together a new financing package.
The Australian parent company of the Davnet group cut funding to its Singapore, Hong Kong and Canadian subsidiaries to focus on the growth opportunities of its Australia operation.
A spokesperson from the junior telco told ZDNet, it is currently reviewing whether the subsidiaries can be self-funded.
-If not, then we'll have to look at either a joint venture or selling off the [subsidiaries] and [their] customer database."
Davnet is said to have a total of 67 staff in Singapore, Hong Kong and Canada.
In a bid not to chase off its customers in the Asian and North American markets, the company is continuing to provide services in the period of transition.
-We don't want to spook customers into making the wrong decision with another service provider," the spokesperson said.
Davnet's United States subsidiaries--which are also under review--are continuing -for the moment", according to the spokesperson.
