Skip to Content »

Wireless Federation » archive for 'Sing Tel'

StarHub posted drop in net profit by 21% (Singapore)

  • August 7th, 2008
  • 1:35 pm

To retain the mobile users and attract the  broadband internet customers the cost of marketing was increased in result to this second quarter net profit drops 21% said StarHub (Singapore’s second largest telecom operator). Comparing the group’s net income from last year it fell from SGD80.8 million to SGD64.2 million as reported by analysts. StarHub said quarterly revenue rose 8.6% year-on-year from SGD489.1 million to SGD531.4 million. Chief Executive Officer Terry Clontz said, ‘The slow-growing pay-TV segment is seeing competition from SingTel’s recent [IPTV] offer.’ StarHub reports mobile phone services revenue raised 6.5% year-on-year  It ended June with 1.8 million mobile users, up 10% on the previous quarter.

India Bharti Airtel rode a boom in wireless Market with 34% net up Q1

  • July 24th, 2008
  • 7:19 am

India’s top mobile operator, Bharti Airtel strikes 34 percent rise in quarterly profit. Sing Tel ( Southeast Asia’s top phone firm) who owned  about 30% Bharti said that net profit rose to 20.25 percent under U.S. accounting rules in its fiscal first quarter ended June, from 15.12 billion a year earlier.

Bharti provides mobile services on the popular GSM platform in all of India’s 23 service areas and accounts for nearly a quarter of the country’s total mobile users. It added 7.4 million users between April and June. Shares in Bharti, India’s fourth-most valuable firm at $36.4 billion, fell 12.6 percent between April and June compared with a 14 percent drop in the main index.

Temasek plans to acquire Airtel stake for $2b

  • July 9th, 2007
  • 1:06 pm

The Singaporean government’s investment arm, Temasek Holdings, is likely to acquire a 4.9% stake in Indian mobile operator Bharti Airtel.

Given Bharti’s market capitalization of $40.51 billion, the deal could be worth $2 billion. 

A statement by Bharti, said one of its group companies “has decided to grant an option to acquire an indirect stake in Bharti Airtel to a wholly-owned subsidiary of Temasek Holdings.”

It refused to divulge the amount for which the offer had been made.

Temasek is the largest shareholder in SingTel, which owns 30.5% of New Delhi-based Bharti Airtel.
”If at any point of time Temasek wants to sell its stake, Bharti and (then) SingTel have the first right of refusal,’ a Bharti spokesperson said.
The stake sale will not result in an equity dilution, because Temasek is indirectly buying a large portion of the 5.6% stake that Vodafone is offloading.

When Vodafone struck a deal to pick up a controlling stake in rival Hutchison Essar in February, it said it would sell back its stake in Bharti for $1.6 billion in two tranches before November 2008.

Vodafone had bought the stake from Bharti in 2005. It still has indirect holdings of 4.4%.