CityCell lowers loss but market share slips

7 Feb 2008

SingTel has reported that its share of pre-tax losses in Bangladeshi mobile operator CityCell decreased by 75% to SGD5 million (USD3.5 million), excluding exceptional items, for the quarter ended 31 December 2007. The regional giant said lower subscriber acquisition costs helped to lower costs leading to the fall in pre-tax loss. However, the 45%-owned subsidiary added only 87,000 subscribers during the quarter, taking its customer base to 1.4 million at the end of 2007, and its share of the market is down to only 4%. SingTel also said it had compensated the Bangladesh Telecommunications Regulatory Commission (BTRC) by paying around SGD14 million, as owner of part of CityCell, because of alleged misuse of CityCell’s products by some of its subscribers in Bangladesh. The company has not accepted any liability over the matter, but said the payment was ‘made out of goodwill’.

Bangladesh,PBTL (CityCell), Singtel Group,

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