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