ASEAN KEY DESTINATIONS
SingTel to invest US$1.8b in Thailand and India groups
Friday, August 19, 2016
SINGAPORE Telecom yesterday it will spend US$1.8 billion to take a stake in Thailand’s Intouch and raise its share of India’s Bharti, boosting its access to fast-growing Asian and African mobile markets.
SingTel, Southeast Asia’s biggest telecom group by revenue, will acquire 21 per cent of Intouch and an additional 7.39 per cent in Bharti Telecom from state-linked investment company Temasek.
“This is a unique opportunity for us to deepen our relationships with two great market leaders,” Singtel chief executive Chua Sock Koong said in a statement.
Intouch is the largest shareholder in Thailand’s top mobile operator Advanced Info Services (AIS).
Bharti Telecom Limited is the holding company of Bharti Airtel, India’s largest telecommunications company.
The two operators have a combined mobile customer base of more than 380 million people across Asia and Africa, SingTel said.
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Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.