Jun-10, Co's subsi Singtel Optus has issued a HK$1b, 10yrs note to institutional investors as its long term financing strategy. Earlier, Co's subsi NCS inks $850m contract with MOE to provide central infrastruc & computing svcs. Feb-10, Indian assoc, Bharti, in discussion with Kuwaiti telco, Zain, to acq its African ops, for an estimated US$10.7b. Jan-10, Dow Jones reported Co planning Aust IPO for Optus to raised A$4b for expansion into other mkts. Oct-09, subsi, SCS Computer Sys, acq controlling stake in Philippines-base Ayala Sys for $0.215m. Market talk is that Co could sell minority stake in Optus via Aust IPO. Co's shrs slumped on 7 Oct-09 on concerns of increased competition in India as Reliance Comm instituted per second billing.

FY10, revenue & profit grew 13% & 13.3% respectively. Co's positive results mainly due to robust performance in S'pore & Aust biz ops & earnings recovery in Telkomsel. Co remains positive over outlook as the global economic recovery gathers pace. (14/06/10-GC)