MobileOne expects 'growth'<\/p>\n
Bloomberg, Jakarta<\/p>\n
MobileOne Ltd. the smallest of Singapore's three cell-phone
\noperators, said it expects benefits from its sale of a majority
\nshareholding to Telekom Malaysia Bhd. and Khazanah Nasional Bhd.<\/p>\n
Telekom, the nation's biggest phone operator, and Malaysian
\ngovernment investment company Khazanah own 24 percent in
\nMobileOne through their venture SunShare Investments Ltd.<\/p>\n
\"There will be good growth synergies happening probably over
\nthe next 12 to 18 months,\" MobileOne Chief Executive Neil
\nMontefiore said in an interview at the 3GSMAsia trade show in
\nSingapore.<\/p>\n
\"It will strengthen our uniqueness in regional, global
\nalliances. It will differentiate M1 from our competitors.\"<\/p>\n
Kuala Lumpur-based Khazanah, which owns more than 24 companies
\nwith a combined market value of about US$16 billion, is expanding
\noverseas investments to raise returns.<\/p>\n
Telekom has also been looking abroad as growth slows and
\ncompetition gets fiercer in Malaysia, where about half of the
\nnation's 26 million people own cellular phones.<\/p>\n
MobileOne shares fell 0.5 percent to S$1.97 as of 12:24 p.m.
\nin Singapore. The stock has gained 8.2 percent this year,
\ncompared with the 11 percent advance of the benchmark Straits
\nTimes Index.<\/p>\n
MobileOne and Telekom are part of the Asia Mobility
\nInitiative, an alliance of seven regional phone companies with a
\ncombined 50 million subscribers.<\/p>\n
Kuala Lumpur-based Telekom also owns stakes in PT Excelcomindo
\nPratama, Indonesia's third-largest cellular company, and Sri
\nLanka's biggest mobile-phone operator, Dialog Telekom Ltd.<\/p>\n
MobileOne prefers to adopt an alliance strategy than to invest
\noverseas for now, Montefiore said.<\/p>\n
\"We always look at opportunities overseas but really we'll not
\ninvest unless we can see good shareholder value,\" Montefiore
\nsaid.<\/p>\n
\"We certainly welcome Excelcomindo and other Telekom Malaysia
\ninvestments into the alliance.\"<\/p>\n
Telekom and Khazanah in August said they would pay S$260.8
\nmillion ($154 million) to raise their combined holding in
\nMobileOne to 17.7 percent.<\/p>\n
Telekom owns 80 percent of SunShare and Khazanah 20 percent.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/mobileone-expects-growth-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }