Indosat to spend $1.1b in 2004<\/p>\n
PT Indonesian Satellite Corp., the country's main overseas
\ncall operator, said it's spending as much as US$1.1 billion
\nthrough the end of 2004 expanding its cellular business and
\nwireless network.<\/p>\n
About 75 percent of that expenditure will go toward growing
\nIndosat's cellular unit, Wityasmoro Sih Handayanto, the company's
\ndirector of business development, said at a presentation in
\nJakarta on Friday.<\/p>\n
"We will use cash flow and vendor financing," said Wahyu
\nWijayadi, Indosat's director of fixed communication and
\nmultimedia. "We may seek funds from outside financing."<\/p>\n
The company spent between $450 million and $500 million this
\nyear and may spend a further $600 million in 2004, he said.<\/p>\n
Indosat expects to have 6 million subscribers by the end of
\nthis year, up from 5.8 million in mid-December, said Hasnul
\nSuhaimi, the company's cellular marketing director. It expects to
\nadd between 1.5 million and 2.5 million in 2004, he said.<\/p>\n
Indosat plans to pay at least 30 percent of its 2003 profit
\nas a dividend, President Director Widya Purnama said. Profit rose
\n30 percent to 566.6 billion rupiah ($67 million) in the nine
\nmonths ended Sept. 30.<\/p>\n
Indosat is 42 percent-owned by Singapore Technologies
\nTelemedia Pte. -- Bloomberg<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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