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Indonesia's Telkomsel to seek $750 mln financing |
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15:09, January 19, 2008 |
Indonesia's biggest mobile telephone operator Telkomsel plans to seek a minimum of 750 million U.S. dollars to help finance its capital expenditure this year, which is expected to range from 1.5 billion to 1.7 billion dollars.
Telomsel's mother company PT Telekomunikasi Indonesia expects to gather 200 million to 300 million dollars through a combination of Medium Term Notes (MTN) and bonds for that purpose, local newspaper The Jakarta Post reported Saturday.
Telkomsel president director Kiskenda Suriahardja was quoted assaying about 40 percent of the total capital expenditure would be used to finance the expansion of its network coverage.
He added that 45 percent would be allocated to a service quality enhancement program and the rest would be used on strategic investments in related businesses.
The company was targeting about half of the estimated 18 million new mobile phone subscribers this year. The company currently has 49.1 million subscribers.
"We are now waiting for our 50 millionth subscriber celebration," Kiskenda said.
Source: Xinhua
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