The Associated Press
February 26, 2008
KUALA LUMPUR, Malaysia: State-owned Telekom Malaysia reported Tuesday a marginal rise in fourth-quarter net profit as foreign exchange losses and other charges offset improvements in its overseas cellular businesses.
Net profit in the quarter through December rose 0.3 percent from a year earlier to 592.5 million ringgit (US$185 million; €124 million), it said in a statement. This brought full-year profit to 2.55 billion ringgit (US$726 million; €486 million), up 23 percent from 2006.
Telekom said higher contributions from its overseas businesses — particularly from India's Spice Communications — were offset by higher impairment charges on its property, plant, equipment and investments.
The company said it posted a foreign exchange loss of 24 million ringgit (US$7.5 million; €5 million) in the fourth quarter, compared to a gain of 179.1 million ringgit (US$56 million; €37 million) in the same period in 2006.
Besides India, Telekom also has international investments in Sri Lanka, Pakistan, Indonesia, Singapore, Bangladesh and Cambodia.
The national telecommunications company is in the process of splitting itself into two separate listed entities to boost performance. One unit will own the fixed-line and broadband assets and the other the cellular businesses.
February 26, 2008
KUALA LUMPUR, Malaysia: State-owned Telekom Malaysia reported Tuesday a marginal rise in fourth-quarter net profit as foreign exchange losses and other charges offset improvements in its overseas cellular businesses.
Net profit in the quarter through December rose 0.3 percent from a year earlier to 592.5 million ringgit (US$185 million; €124 million), it said in a statement. This brought full-year profit to 2.55 billion ringgit (US$726 million; €486 million), up 23 percent from 2006.
Telekom said higher contributions from its overseas businesses — particularly from India's Spice Communications — were offset by higher impairment charges on its property, plant, equipment and investments.
The company said it posted a foreign exchange loss of 24 million ringgit (US$7.5 million; €5 million) in the fourth quarter, compared to a gain of 179.1 million ringgit (US$56 million; €37 million) in the same period in 2006.
Besides India, Telekom also has international investments in Sri Lanka, Pakistan, Indonesia, Singapore, Bangladesh and Cambodia.
The national telecommunications company is in the process of splitting itself into two separate listed entities to boost performance. One unit will own the fixed-line and broadband assets and the other the cellular businesses.
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