Mon, 14 Jan 2008
Mobile phone operator PT Excelcomindo Pratama's subscribers jumped 63.2% last year, driven by lower prepaid rates and cheaper handset prices, Reuters reported.

Excelcom, 67% owned by Telekom Malaysia, said in a statement on Friday (11/1/08) it ended 2007 with 15.5 million subscribers compared with 9.5 million in the previous year.

The increase in the number of subscribers pushed the third-largest mobile phone operator's fourth-quarter revenue up over a fifth from the previous three months, but the firm did not give financial details.

In the three months ended September 30, Excelcom's revenue was slightly over Rp2 trillion ($213.2 million). In anticipation of higher growth in the sector, Excelcom plans to raise up to $950 million of new funding, which will be used to pay for this year's capital spending and refinance its $350 million bonds in January.

"At this moment, XL already has Rp6.7 trillion in place and expects to lock in another $150 million within this month," the company said.

In December, Excelcom reached an agreement to borrow Rp4 trillion from the country's largest lender, PT Bank Mandiri.

Emirates Telecommunications (Etisalat), a Middle East firm, said in December it was buying a 16% stake in Excelcom from Rajawali Corp for $438 million.



News Search/Filter
Transaction Rates
22 Oct 17
Buy
Sell
BTC1
81,853,152
81,853,152
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services