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Polaris Expects Net Loss For FY15
Daily Bulletin | 02 November 2015
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Polaris has announced that the group is expected to record a net loss for the financial year ending 31 December 2015 (FY15), on the back of losses from its 44.88 percent owned Indonesian associated company, PT Trikomsel Oke Tbk (Trikomsel).

Trikomsel has released its unaudited interim consolidated financial statements for the financial period ended 30 September 2015 (3Q15) and the group expects a loss that is purely attributed to the consolidated share of results of Trikomsel. In the near term, the ongoing market challenges in Indonesia, including the depreciating of the Indonesian Rupiah against the US Dollar and the general slowdown in the Indonesian economy are expected to persist.

Notwithstanding the above, Trikomsel will continue to take various cost reduction initiatives to improve its liquidity position and to sustain its operations in the long run by prioritizing its cash flows and profitability while assited by FTI Consulting on its debt restricting plan.

The group believes that businesses remain favorable across all geographies in Asia including Singapore but outside Indonesia. The group also remains open to opportunities for growth and expansion and continues to be operationally resilient and focused on strengthening its regional retail and distribution footprint in the area of telecommunication, media and technology.

Polaris  -- -- --   
Business: Provider of a spectrum of telephony svcs ranging from prepaid communication svcs to wholesale voice traffic.

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