Hay Group named as Indosat consultant<\/p>\n
Dow Jones, Jakarta<\/p>\n
State-owned telecommunications company PT Indosat
\nsaid on Monday it has named U.S. company Hay Group Ltd. as its
\nstrategic management consultant.<\/p>\n
Indosat plans to change its focus from overseas and domestic
\nfixed-line services to cellular services. Indosat's chief
\nexecutive Widya Purnama said Hay Group will advise Indosat in
\nthis transformation process.<\/p>\n
Indosat indicated its intended change of focus soon after it
\ntook over cellular unit PT Satelindo, in the middle of last year.<\/p>\n
Purnama said Indosat expects the change of focus to enhance
\nits fundamental value, strengthen its financial structure, and
\nimprove its competitiveness in cellular business and efficiency
\nin capital expenditure.<\/p>\n
As part of the move, Indosat also plans to merge its two
\ncellular units Satelindo and Indosat Mobile Multimedia, or IM3.<\/p>\n
Indosat is 42 percent owned by Singapore Technologies
\nTelemedia Pte. Ltd., a subsidiary of Singapore Technologies Ltd,
\nand the Indonesian government holds a 15 percent stake.<\/p>\n
The company said it expects its cellular phone subscription
\nrate to rise to 4.5 million this year from 3.6 million last year.<\/p>\n
Only 3 percent of Indonesia's 200 million population currently
\nuse a mobile phone. Analysts expect the number of Indonesian
\ncellular phone subscribers to nearly double to 21 million in 2004
\nfrom 11 million last year.<\/p>\n
Indosat said it will name financial and legal advisers to
\nsupport the transformation of the company soon, but didn't say
\nexactly when.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/hay-group-named-as-indosat-consultant-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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