www.WirelessFederation.com/news: SingTel, the Singapore based mobile operator’s chief executive, Chua Sock Koong, said that the company continues to evaluate investment opportunities in China.
SingTel currently holds significant stakes in six foreign mobile operators: India’s Bharti Airtel Ltd., Indonesia’s PT Telkomsel, Thailand’s Advanced Info Service PCL, Pakistan’s Warid Telecom, the Philippines’ Globe Telecom Inc. and Pacific Bangladesh Telecom.
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SingTel reports a subscriber base of 216 million in financial Q2′08, a rise of 9.6%, adding 121,000 new subscribers. Bharti Airtel Ltd. and Indonesian associate PT Telkomsel added about 8.1 million subscribers, while Australian unit Optus grew by 182,000 subscribers. The profits of Singapore’s largest operator fell by 12% in Q2′08 as a strengthening local currency hurt the value of earnings from its units abroad.
Its net income for its Q2′08 fell to $577 million, down from $656 million a year earlier.
“Our expansion in the region subjects us to the volatility of the regional currencies,” SingTel Group Chief Executive Chua Sock Koong said. “A stronger Singapore dollar reduces our mobile associates’ earnings.”
SingTel’s stakes in regional operators such as India’s Bharti Airtel Ltd., Indonesia’s PT Telkomsel, the Philippines’ Globe Telecom Inc., Pakistan’s Warid Telecom Ltd., Pacific Bangladesh Telecom Ltd. and Thailand’s Advanced Info Service PCL account for more than half of the company’s profits.