JP/12/brief

SingTel net profit dives almost 25%

SINGAPORE: Singapore Telecommunications Ltd. (SingTel) Friday said net profit in the nine months to December fell almost 25 percent to S$1.45 billion (US$655.74 million), but rejected criticism over its overseas investments.

The lower profit reflected goodwill charges following SingTel's acquisition of Australia's CW Optus last year for S$9 billion as part of an effort to expand beyond Singapore's small domestic market.

Operating revenues for Southeast Asia's biggest telephone firm rose 34 percent to S$4.91 billion from S$3.66 billion the previous year, boosted by the initial contribution of CW Optus.

CW Optus earnings in the December quarter were included into SingTel accounts. SingTel also has stakes in mobile phone companies in Thailand, the Philippines, India and Indonesia and is the majority shareholder in the pan-Asian submarine cable firm C2C. -AFP

Jasa Marga to issue Rp 400b bonds

JAKARTA:PT Jasa Marga, an Indonesian toll-road builder and operator, plans to issue Rp 400 billion (US$38.8 million) of bonds this month to finance a new toll road, an official with the state-owned company said Friday.

The official, who asked not to be named, told Dow Jones Newswires that Jasa Marga has named PT Danareksa Securities and PT Trimegah Securities as underwriters.

Doni Jawas, an analyst with local rating agency PT Pefindo confirmed that it has been asked to rate the new bonds.

The bonds will have a maturity of seven years. Jasa Marga and its underwriters haven't determined if they will carry fixed or floating coupon rates, he noted.

Analysts expect the bonds to be well received by the market due to falling domestic interest rates.- Dow Jones