KUALA LUMPUR (AP): Telekom Malaysia Bhd., the country's main telecommunications company, plans to increase investments in Indonesia and India, but has no plans to expand in Bangladesh, its chief executive said Wednesday.
About half of the 4.9 billion ringgit (US$1.4 billion; euro billion) that Telekom will devote for overseas capital spending this year will be for Indonesia, where Telekom owns 60 percent of cellular phone company PT Excelcomindo Pratama, Chief ExecutiveAbdul Wahid Omar said.
Abdul Wahid said investments in India would also rise, even as Telekom's 49 percent stake in India's Spice Communications Pvt.Ltd. is expected to dilute when the Indian company sells shares to investors.
However, he denied market speculation that Telekom is looking to grow in Bangladesh, where the firm owns a majority of mobile phone company AKTEL.
"We are not talking to anyone (in Bangladesh)," Abdul Wahid said on the sidelines of an investment conference.
Abdul Wahid also said he was not upset that Telekom did not win one of four new wireless broadband licenses that the government awarded to small, emerging companies last week. (***)