ST Telemedia eyes Indosat stake
ST Telemedia eyes Indosat stake
SINGAPORE: Singapore Technologies Telemedia, a unit of the Singapore Technologies Group, may be in talks with PT Indonesian Satellite Corp., or Indosat, to acquire a stake in its mobile phone unit PT Satelit Palapa Indonesia, or Satelindo, the Today newspaper reports, without quoting sources.
ST Telemedia is a majority stakeholder of Singapore mobile operator Starhub.
A ST Telemedia spokeswoman said the company can't comment on market speculation, according to the paper. -- Dow Jones
Fujitsu to cut 3,000 more jobs
TOKYO: Japanese hi-tech giant Fujitsu Ltd. has decided to cut about 3,000 more jobs through an early retirement program, a news report said Thursday.
The reported plan comes only a month after Fujitsu said it would cut 2,100 jobs through a voluntary retirement scheme, the Asahi Shimbun said in its evening edition.
Fujitsu was forced to make further job cuts because the slump in the telecommunications industry, especially in the United States, has dragged on longer than expected, the newspaper said, without citing sources.
The scheme would affect two factories in Tochigi Prefecture in central Japan which make telecommunications equipment.
The firm cut 17,000 jobs worldwide in the year to March in response to the slump in the technology sector. -- AFP
SingTel to take over networks for Nokia
SINGAPORE: Singapore Telecommunications Ltd. said Thursday it signed a multimillion dollar deal to become Nokia Corp.'s sole provider of electronic mail and other office communication services in the Asia-Pacific region.
The Finland-based mobile handset maker previously used SingTel and Dutch-based data carrier Equant NV to transfer computer files, e-mail and other data throughout the region.
SingTel will connect and expand the network for all of Nokia's corporate communications between offices and factories in the region, which covers 12 countries and territories, said Jesmine Ong, a SingTel spokeswoman.
Nokia expects a 20 percent reduction in costs once Nokia takes over its Asia-Pacific network by the end of the year, SingTel said in a statement. -- AFP
Telstra: telecoms remain depressed
SYDNEY: The head of Australia's dominant telecoms carrier Telstra on Thursday predicted the sector would remain subdued for another year and said he saw few acquisition opportunities in Asia.
Chief executive Ziggy Switkowski, who has previously talked up his company's growth prospects in Asia, said fiscal discipline was the priority for Australia's largest telecoms company over the next year.
He said global sentiment on telecoms, already negative after the technology crash of 2000, had declined further because of "aberrant events" such as the WorldCom accounting scandal.
Switkowski said Telstra would rather cut back its US$7.7 billion debt than overpay for acquisitions. -- AFP
Heineken H1 profit down 5.7 percent
AMSTERDAM: Dutch brewer Heineken posted Thursday a first-half net profit of 330 million euros (US$322 million), down by 5.7 percent from the same period a year earlier.
Operating profit rose by 13.2 percent to 581 million euros on an 11.4 percent increase in sales to 4.958 billion euros, the company said in a statement.
Heineken, and partners which hold its brewing licenses, produced 4.4 billion gallons of beer in the first six months of the year, an increase of 12 percent from a year earlier.
Shares in the Dutch brewer fell by 1.08 percent to 42.05 euros in midday trade on the Amsterdam stock exchange, which was down by 2.69 percent overall. -- AFP
Nissan Motor to make cars in China
TOKYO: Nissan Motor Co. Ltd. plans to invest around 100 billion yen (US$833.4 million) in three years in a planned joint venture with China's Dongfeng Automobile Co. Ltd., a news report said Thursday.
"(Nissan) is expected to start manufacturing cars in China for the first time," the Asahi Shimbun said without citing sources.
The move is aimed at accelerating Nissan's business in China which has been falling behind that of rivals Toyota Motor Corp. and Honda Motor Co., the Asahi said.
Nissan and Dongfeng have been negotiating to establish a joint venture in central China's Hubei province with a total investment of around 43 billion yen, the newspaper said.
They plan to start by producing 100,000 regular passenger cars and compact cars a year, the Asahi said. -- AFP