Katanya waktu dulu Indosat sebagai perusahaan SLI di Indonesia rugi,
sehingga harus naikin tarif, karena mitra kerjanya di luar negeri tarifnya
pakai $, tapi nyatanya menurut berita Reuters , IndosatNet malah untung
gede......
Kalau gitu kenapa harus dinaikin tarifnya ? Bantuin telkom ajah ?
Mau bikin tambahan satelit sendiri apa ?
FOCUS-Indonesia's Indosat income surges 82 pct
03:24 a.m. Feb 03, 1999 Eastern
JAKARTA, Feb 3 (Reuters) - Indonesian international communications company
PT Indosat said on Wednesday net income soared 82 percent in 1998 despite
the ravages of the country's economic crisis.
Indosat, Indonesia's third-largest listed firm in terms of market
capitalisation, said an increase in telephone tariffs and a quick response
to the crisis had helped the company's profits grow.
Analysts said windfall gains from the rupiah's drop against the dollar last
year also boosted Indosat's bottom line.
Net income for calendar 1998 climbed to 1.166 trillion rupiah ($136 million)
from 641 billion the previous year, with earnings per share climbing to
1,126.1 rupiah from 618.8. Earnings per ADR (American Depositary Receipt)
came to $1.40.
``We faced a difficult period in the second half of the year as business
activities in Indonesia were declining due to the country's macroeconomic
situation, political and social unrest,'' President and CEO Tjahjono
Soerjodibroto said in a statement.
``Although this turmoil has affected international telecommunications
services demand growth, including a decline in our U.S. dollar net
settlement receipts, a further negative impact was minimised by the new
international telephone tariff,'' he said.
``As a result we could still achieve higher operating income.''
Indosat shares surged as high as 12,000 rupiah after the results were
announced but quickly returned to around 11,675 rupiah, up 450 rupiah or
four percent on the day, close to its levels before the results statement.
Analysts said that although the results were higher than most had expected,
this was largely due a larger foreign exchange windfall. Indosat's foreign
revenues were equivalent to more rupiah last year because of the domestic
currency's plunge against the dollar.
Analysts polled by Reuters earlier this week predicted a gain of 55 to 77
percent in net income.
``Indosat's operating revenue is in line with our projection, but net profit
is higher than our previous projection, and I think it's because Indosat has
booked larger-than-expected forex gains,'' said Setiatno, analyst at Vickers
Ballas Securities.
``They were also successful in depressing operating expenses in the fourth
quarter.''
Michael Gilmore, analyst at DBS Securities in Jakarta, said the results were
in line with his expectations.
``The reason behind the sharp gain in net profit is primarily due to the
sharp depreciation of the rupiah against the dollar,'' he said.
Analysts said profit growth was likely to slow next year, with further
tariff increases unlikely and the rupiah expected to stay more stable
against the dollar.
Indosat said international telephone traffic rose to 710.4 million minutes
in 1998 from 683.9 million the year before. It said the growth in traffic
was ``a disappointing number.''
Indosat is due to issue new shares in the coming months, diluting the
government's stake to around 63 percent. The government than aims to reduce
its stake to 51 percent through selling shares to a foreign strategic
investor.
Copyright 1999 Reuters Limited. All rights reserved. Republication and
redistribution of Reuters content is expressly prohibited without the prior
written consent of Reuters. Reuters shall not be liable for any errors or
delays in the content, or for any actions taken in reliance thereon.
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