JP/12/brief

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