Telkomsel's profit up
<p>Telkomsel's profit up</p><p>The Jakarta Post, Jakarta</p><p> State-owned telecommunications company PT Telekomunikasi
Indonesia (Telkom) said on Tuesday that the number of its new
cellular subscribers had increased by 1.7 million to 7.71 million
during the first half of 2003.</p><p>In a press statement Telkom said that the increase in
subscribers pushed higher the net profit of its cellular unit
company, PT Telekomunikasi Seluler (Telkomsel), by 54 percent to
Rp 1.94 trillion (US$225 million) in the first semester from Rp
1.25 trillion in the same period last year.</p><p>Telkomsel's operating revenue jumped by 51 percent to Rp 5
trillion from Rp 3.32 trillion.</p><p>The stronger earnings had also contributed to a 13 percent
increase in Telkom's first half net profit of around Rp 3.78
trillion.</p><p>Telkom, the country's largest telecommunications company, owns
65 percent of the shares in Telkomsel, while Singapore
Telecommunications Ltd. (SingTel), holds the remaining 35
percent.</p><p>Telkom also said that during the first half, Telkomsel had
invested Rp 2.6 trillion for network infrastructure in a bid to
achieve this year's new subscribers target of 3.7 million.</p><p>The number of cellular subscribers in Indonesia by the end of
this year is expected to grow by about 44 percent to 16.4 million
from last year's 11.4 million.</p><p>Telkomsel controls around 54 percent of the domestic cellular
business. The remaining 31 percent is held by PT Satelindo, which
is owned by another state-owned telecom firm PT Indosat; and
another 15 percent held by PT Excelcomindo Pratama.</p>
Indonesia (Telkom) said on Tuesday that the number of its new
cellular subscribers had increased by 1.7 million to 7.71 million
during the first half of 2003.</p><p>In a press statement Telkom said that the increase in
subscribers pushed higher the net profit of its cellular unit
company, PT Telekomunikasi Seluler (Telkomsel), by 54 percent to
Rp 1.94 trillion (US$225 million) in the first semester from Rp
1.25 trillion in the same period last year.</p><p>Telkomsel's operating revenue jumped by 51 percent to Rp 5
trillion from Rp 3.32 trillion.</p><p>The stronger earnings had also contributed to a 13 percent
increase in Telkom's first half net profit of around Rp 3.78
trillion.</p><p>Telkom, the country's largest telecommunications company, owns
65 percent of the shares in Telkomsel, while Singapore
Telecommunications Ltd. (SingTel), holds the remaining 35
percent.</p><p>Telkom also said that during the first half, Telkomsel had
invested Rp 2.6 trillion for network infrastructure in a bid to
achieve this year's new subscribers target of 3.7 million.</p><p>The number of cellular subscribers in Indonesia by the end of
this year is expected to grow by about 44 percent to 16.4 million
from last year's 11.4 million.</p><p>Telkomsel controls around 54 percent of the domestic cellular
business. The remaining 31 percent is held by PT Satelindo, which
is owned by another state-owned telecom firm PT Indosat; and
another 15 percent held by PT Excelcomindo Pratama.</p>