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TELECOMMUNICATIONS
Battered by Foreign Currency

Tuesday, June 23, 2009

The telecommunications industry missed the target as regards exchange rate values. Net incomes declined. XL’s pockets are in fact negative. Telkom still rules the market.

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THE board of directors and the board of commissioners of Telkom are not as fortunate as the senior officials of state-owned banks who are flooded with billions of rupiah in bonuses. The profit share for the bosses of this state-owned telecommunication company was cut some 27 percent compared to the previous year’s amount. This decision was made during a general meeting of shareholders, in Jakarta on Friday two weeks ago.

It was decided that th

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