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August 04, 2005
Singapore Telecom Ltd benefits from emerging Asian markets
Asia's fifth-largest phone company, Singapore Telecommunications Ltd., is set for a 12 percent rise in quarterly net profit, as strong Asian mobile expansion offsets slower growth at its Australian unit.
Solid performance at SingTel's investments in the fast-growing markets of India, Bangladesh, Indonesia, and to a lesser extent, Thailand and the Philippines, would underpin its growth in the future, analysts said.
Facing a mature home market in Singapore (90% mobile phone penetration), SingTel has spent S$17 billion ($10 billion) in recent years buying operators in high-growth Asian nations with fewer cellphone users.
SingTel owns major stakes in five operators -- 21.5 percent of Thailand's Advanced Info Service Plc., 30.8 percent in India's Bharti Group, 44.6 percent of Globe Telecom Inc. in the Philippines, 35 percent in Indonesia's PT Telkomsel, and 45 percent of Pacific Bangladesh Telecom Ltd., purchased as recently as June.
Posted by admin at August 4, 2005 06:38 AM