They're already in India.
<<August 5, 1999 04:23 AM
SINGAPORE, Aug 5 (Reuters) - Singapore's Pacific Internet Ltd said on Thursday it had the highest average revenue per unit (ARPU) among Internet service providers in Singapore.
"Right now, the playing field is level...and we're in front of the market, so we're comfortable," chief executive Nicholas Lee said over an Internet inter relay chat with investors.
"I believe that PacNet has a higher revenue and average revenue per unit than our competitors in Singapore," he added, without giving further details.
Last year, PacNet reported revenue of S$71.9 million while its closest rival SingNet reported revenue of S$65 million.
Revenue from Singapore currently contributed around 80 percent to PacNet's earnings.
Company Chairman Chan Wing Leong said PacNet, a unit of SembCorp Industries , was looking at new strategies to counteract the competition.
"We are pursuing a broadbased expansion strategy into value-added services, broadband, new markets, and also communities and electronic-commerce," he said.
PacNet's main competitor is Singapore Telecommunication's SingNet.
But recently, new Internet provider licences have being given to companies like Keppel Telecom and Hong Kong's Cable & Wireless Plc .
Lee said the firm's recent ventures into Australia and India were going smoothly, and added it was looking to enter markets in Taiwan, China and Korea from next year, and beyond that, Thailand and Japan.
The Nasdaq-listed company is expected to release results for its second quarter on August 11.
Analysts contacted by Reuters said they expected results for the second quarter to be strong, following the company's 134 percent jump in profit to S$2.8 million in the first quarter.
One analyst from a foreign brokerage said the firm might see slightly lower profit in the third and fourth quarters, as a result of high expenses incurred by its recent promotions.
"But if their acquisitions in Australia do well, their growth could be supported," she added.
PacNet declined to comment on its upcoming results. PacNet shares closed at $28, dowm $3.75 on Wednesday.
The shares have been drifting down after hitting a record high of $104 earlier in the year after its public offering at $17 a share in February. >>
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