SingTel Repeats Medium Term Goal Is Double Digit Growth

SINGAPORE -(Dow Jones)- Singapore Telecommunications Ltd. (T48.SG) Friday reiterated that its medium-term goal is to achieve double-digit earnings growth.

In a presentation for its annual general meeting, Southeast Asia's largest telephone company said it expects revenue from its Optus unit in Australia to grow faster than the market average.

Optus, the No. 2 mobile services provider in Australia after Telstra Corp. (TLS), controlled a 33% market share as of March 31, down two points from a year ago, underscoring rising competition.

SingTel said it also expects double digit earnings growth from its regional mobile businesses.

SingTel has stakes in Thailand's Advanced Info Service PCL (ADVANC.TH), India's Bharti Tele-Ventures Ltd. (532454.BY), the Philippines' Globe Telecom Inc. (GLO.PH), Indonesia's PT Telekomunikasi Selular and Pacific Bangladesh Telecom Ltd.

For the last financial year ended March 31, SingTel posted a net profit of S$3.27 billion on revenue of S$12.62 billion.

-By Jessica Tan, Dow Jones Newswires;

(65) 6415-4155; jessica.tan@dowjones.com

-Edited by Stephen Wright

(END) Dow Jones Newswires"

Posted to the site on 29th July 2005