ID :
27810
Fri, 10/31/2008 - 21:52
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http://m.oananews.org//node/27810
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PT TELKOM'S EARNINGS AFFECTED BY CRISIS
Jakarta, Oct 31 (ANTARA) - PT Telekomunikasi Indonesia Tbk's (PT Telkom) earnings have dropped as a result of the current global financial crisis and lower prices of interconnection services, a spokesman said.
"Until the third quarter of 2008, the company's financial performance has been declining," the company's finance director, Sudiro Asno, said when exposing the company's financial performance here on Friday.
In September 2008 the company booked a net profit of Rp8.9 trillion which was down 9.16 percent from Rp9.8 trillion recorded in the same period last year.
He said the company suffered an exchange rate loss of Rp75 to Rp80 billion in the period. He said the global financial crisis had weakened the country's rupiah currency against the US dollar to increase the company's interest burden.
"In response to the fluctuation of the exchange rate the national banks raised their interest rate just after the company obtained loans from them to meet its capital expenditures," he said.
He said another factor that had contributed to the slump of company's earnings was the increasing cost of frequency rent that reached around Rp400 billion which was beyond the company's calculation.
He said the company was not worried by the drop in the rupiah exchange rate because most of its obligations were put in the local currency.
"Sixty-five percent of around Rp17 trillion of its debts is in rupiah while its debts in foreign currencies or in the dollar reached around 35 percent," he said.
In the third quarter of 2008 the number of cellulair phone customers of its subsidiary, PT Telkomsel, reached 60.5 million or rose 36 percent from the same period last year, he said.
He said the number of its non-cable fixed telephone service Flexi customers meanwhile rose 63 percent to 9.15 millions.
Telkomsel's president director Eiskenda Suriahardja said Telkomsel's net profit was recorded at Rp9.08 trillion or down seven percent from Rp9.7 trillion recorded in the earlier period.
"The number of customers and usage of cellular phone service rose. The drop in the net profit resulted from the decreasing phone tariff," he said.
Telkom's chief operating officer Ermady Dahlan said that although the company's performance had dropped he believed in the long-term it would improve as the company's fundamentals remained strong.
"Not only financially but fundamentally the company's condition is strong as shown by its increasing customers. Meanwhile its new business ventures have also been positive such as its internet data service and Telkom Vision pay tv service," he said.
In view of that Ermandy said he wsa optimisitc until the end of this year the company could still grow although within a small range.
"The company is continuing its expansion by acquiring operators in Iran and other Middle Eastern regions," he said.
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"Until the third quarter of 2008, the company's financial performance has been declining," the company's finance director, Sudiro Asno, said when exposing the company's financial performance here on Friday.
In September 2008 the company booked a net profit of Rp8.9 trillion which was down 9.16 percent from Rp9.8 trillion recorded in the same period last year.
He said the company suffered an exchange rate loss of Rp75 to Rp80 billion in the period. He said the global financial crisis had weakened the country's rupiah currency against the US dollar to increase the company's interest burden.
"In response to the fluctuation of the exchange rate the national banks raised their interest rate just after the company obtained loans from them to meet its capital expenditures," he said.
He said another factor that had contributed to the slump of company's earnings was the increasing cost of frequency rent that reached around Rp400 billion which was beyond the company's calculation.
He said the company was not worried by the drop in the rupiah exchange rate because most of its obligations were put in the local currency.
"Sixty-five percent of around Rp17 trillion of its debts is in rupiah while its debts in foreign currencies or in the dollar reached around 35 percent," he said.
In the third quarter of 2008 the number of cellulair phone customers of its subsidiary, PT Telkomsel, reached 60.5 million or rose 36 percent from the same period last year, he said.
He said the number of its non-cable fixed telephone service Flexi customers meanwhile rose 63 percent to 9.15 millions.
Telkomsel's president director Eiskenda Suriahardja said Telkomsel's net profit was recorded at Rp9.08 trillion or down seven percent from Rp9.7 trillion recorded in the earlier period.
"The number of customers and usage of cellular phone service rose. The drop in the net profit resulted from the decreasing phone tariff," he said.
Telkom's chief operating officer Ermady Dahlan said that although the company's performance had dropped he believed in the long-term it would improve as the company's fundamentals remained strong.
"Not only financially but fundamentally the company's condition is strong as shown by its increasing customers. Meanwhile its new business ventures have also been positive such as its internet data service and Telkom Vision pay tv service," he said.
In view of that Ermandy said he wsa optimisitc until the end of this year the company could still grow although within a small range.
"The company is continuing its expansion by acquiring operators in Iran and other Middle Eastern regions," he said.
***2***
