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January 17, 2008 |
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EXCELCOMINDO PRATAMA: 40 Firms Interested to Buy Stake in Unit Around 40 companies showed interest in buying PT Exelcomindo Pratama Tbk's unit, which specializes in handling all the base transceiver station towers that belong to the telecommunication operator company, Tempo Interactive News reports. According to the report, the firms are interested even though the unit is still in the process of establishment. Exelcomindo Managing Director Hasnul Suhaimi, the report relates, said that the process of establishment will perhaps be finished by the second or third quarter of the year. Mr. Suhaimi told Tempo that the company has between 6,000 and 7,000 towers throughout Indonesia. Tempo points out that some of the company's towers were rented by PT Hutchinson, PT Bakrie Telecom, PT Sampoerna Telekomunikasi Indonesia and PT Natrindo Telepon Seluler. Despite several towers being rented, Mr. Suhaimi told the news agency, it does not mean the company will sell the shares of the new subsidiary to these four companies. About 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 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. * * * 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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