Mobile phone operator PT Excelcomindo Pratama's subscribers jumped 63.2% last year, driven by lower prepaid rates and cheaper handset prices, Reuters reported.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
\"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.<\/p>\n
In December, Excelcom reached an agreement to borrow Rp4 trillion from the country's largest lender, PT Bank Mandiri.<\/p>\n
Emirates Telecommunications (Etisalat), a Middle East firm, said in December it was buying a 16% stake in Excelcom from Rajawali Corp for $438 million.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/excelcom-subscribers-jump-63-in-2007-1200296534", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }