Tuesday, 26 September 2017

'Bankrupt' Telkomsel posts $1 billion 1H net profit

By Mary Lennighan, Total Telecom
Tuesday 25 September 12

Indonesian operator appeals bankruptcy decision against it stemming from dispute with distributor; regulator delays 3G auction until situation resolved.

Indonesian mobile operator Telkomsel posted a net profit of US$1 billion in the first half of this year and yet was declared bankrupt by a domestic court earlier this month, raising further concerns over the ability of telecoms operators to flourish in a market in which strong growth potential comes alongside an uncertain legal and regulatory regime. On Tuesday Moody's warned that a Jakarta court decision against Telkomsel that left it in the hands of receivers could have a negative impact on the company's rating…

Indonesian mobile operator Telkomsel posted a net profit of US$1 billion in the first half of this year and yet was declared bankrupt by a domestic court earlier this month, raising further concerns over the ability of telecoms operators to flourish in a market in which strong growth potential comes alongside an uncertain legal and regulatory regime. On Tuesday Moody's warned that a Jakarta court decision against Telkomsel that left it in the hands of receivers could have a negative impact on the company's rating…

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