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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (60173)	2/8/2002 3:14:45 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

SingTel's 3rd-Qtr Profit Falls 56% With Acquisition (Update3) By Linus Chua 02/07 21:55 quote.bloomberg.com Singapore, Feb. 8 (Bloomberg) -- Singapore Telecommunications Ltd.'s fiscal third-quarter profit fell 56 percent on the costs of its $7 billion acquisition of Australia's second-largest phone company and stagnant sales at home. Net income for Southeast Asia's biggest phone company in the three months ended Dec. 31 fell to S$290.3 million ($158.6 million), from S$654.9 million a year earlier, exceeding the S$271.2 million average forecast of five analysts Bloomberg News surveyed. The government-owned company bought SingTel Optus Ltd. from Cable & Wireless Plc in September in a drive to expand beyond its home market of 4 million people, adding to stakes in cell-phone companies in Thailand, the Philippines, India and Indonesia. ``There's uncertainty on the kind of returns from the combined entity,'' said Chong Yoon Chou, a director at Aberdeen Asset Management Asia Ltd., which manages about $4.5 billion including SingTel bonds. ``When you take on a company like Optus in a mature market, there would be transactional impacts -- the revenue synergies will come, but that's a question of timing.''