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January 16, 2008 |
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EXCELCOMINDO PRATAMA: Plans to Increase 2008 Revenue by 20% PT Excelcomindo Pratama Tbk aims to boost its revenue by 20% this year and lift subscriber numbers by 3-4 million, various reports say, citing President Director Hasnul Suhaimi . According to Antara News, Mr. Suhaimi said they are likely to post a 30% rise in their 2007 revenue from IDR4.7 trillion in 2006. Reuters Estimates notes that the company is set for IDR7.1 trillion in revenue in 2007 and IDR8.7 trillion for this year. Antara relates that Mr. Suhaimi said, referring to the statement of the communications and information minister, the 2008 income target was based on the expected 10-30% decline in telecommunication tariffs this year. The decline in telecommunication tariffs would have no impact on the company's operational income since it depends on market elasticity, he added. The company, Reuters notes, posted a 63.2% jump in its subscriber base to 15.5 million last year partly due to lower prepaid rates and cheaper handset prices. The firm aims to boost its subscriber base further this year by improving its network facilities, the report adds. Mr. Suhaimi told Reuters that the firm would invest US$650 million this year to increase the number of towers, BTS and improve backbone networks. Excelcomindo Pratama Headquartered in Jakarta, Indonesia, PT Excelcomindo Pratama Tbk -- http://www.xl.co.id/ -- provides wireless telecommunications services, leased lines and corporate services, which include Internet Service Provider (ISP) and Voice over Internet Protocol services. In addition, Excelcomindo provides voice, data and other value-added cellular telecommunications services. Its product lines include jempol, bebas and xplor. The company also provides services that allow its customers to purchase electronic voucher reloads at all of its centers and outlets, automated teller machines of various major banks and through its all centers. Excelcomindo starter packs and voucher reloads are also sold by independent retailers. Excelcomindo is Indonesia's third-largest cellular operator; as at the first quarter of 2006 the company had 8.2 million subscribers representing total market share of around 15% but with cellular revenue market share of approximately 10%. TM and its parent Khazanah together hold 73.7% in XL. * * * The Troubled Company Reporter-Asia Pacific reported on Dec 12, 2007, Standard & Poor's Ratings Services affirmed its 'BB-' corporate credit ratings on Indonesian cellular operator, PT Excelcomindo Pratama Tbk, and removed them from CreditWatch with negative implications. The outlook is stable. The 'BB-' ratings on all foreign currency senior unsecured debt were also affirmed. In October 2007, Moody's Investors Service upgraded Excelcomindo Finance Company B.V.'s foreign currency senior unsecured bond rating to Ba2 from Ba3. The bond is irrevocably and unconditionally guaranteed by Excelcomindo Pratama. At the same time, Moody's affirmed the Ba2 local currency corporate family rating of XL with a positive outlook. In May 2007, Fitch Ratings affirmed PT Excelcomindo Pratama Tbk's Long-term Foreign Currency and Local Currency Issuer Default Ratings at 'BB-'. The Outlook remains Stable. At the same time, Fitch affirmed the 'BB-' rating on its senior unsecured notes programme. |
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