Telkomsel revenue up 47% to Rp 11t
Telkomsel revenue up 47% to Rp 11t
JAKARTA: PT Telekomunikasi Selular Indonesia, or Telkomsel,
the country's largest cellular phone company, Wednesday said 2003
revenue rose by 47 percent on year due to an increase in its
subscribers base.
Revenue last year rose to Rp 11 trillion (US$1.3 billion) from
Rp 7.5 trillion a year earlier, Telkomsel spokesman Suryo
Hadiyanto told reporters.
The company's subscribers for the year rose 60 percent to 9.6
million from 6 million in 2002.
Due to the market's low penetration rate, Telkomsel expects
its subscribers to increase by around 50 percent this year to
around 14.6 million.
About 8 percent of Indonesia's 220 million people currently
have cell phones - among the lowest penetration rates in Asia.
The spokesman didn't reveal other key financial figures.
Telkomsel is 65 percent-owned by state-owned PT Telekomunikasi
Indonesia and 35 percent-owned by Singapore Telecommunications
Ltd, or Singtel. -- Dow Jones
;AFP;
ANPAf..r..
Corporate-Germany-VW
VW's Golf sales disappointing
JP/14/Brief
VW's Golf sales disappointing
FRANKFURT: Volkswagen (VW), Europe's biggest car maker, is
disappointed so far with sales of its new Golf V, the model which
the group hoped would steer it back to success after a difficult
year in 2003, a top VW executive indicated in a magazine
interview released on Wednesday.
"Sales figures aren't progressing as fast as we'd hoped," VW's
sales director Detlef Wittig told the financial weekly Focus
Money in an interview released ahead of publication on Thursday.
"No matter how strong the Golf is, it cannot drive the entire
economy on its own," Wittig said, adding that while the car maker
was officially sticking to its sales target for the new Golf of
600,000 this year, that was on the assumption that the economy
would continue to recover this year.
Last year, sales of the Golf V already fell short of the
expected target of 135,000, with VW pointing the finger at
technical problems.
The Golf accounts for around one third of VW's overall profits
and 15 percent of sales and the new Golf V was launched just five
months ago. -- AFP