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StarHub requires extra funding

date: April 29, 2002

StarHub, Singapore's second largest telecoms provider, plans to raise S$1.7 billion ($944 million) to fund its 3G operations, a local paper reported.

The funds which include bonds and loans would be used for the roll-out of its W-CDMA 3G network.

Terry Clontz, StarHub's chief executive, had said the firm was watching 3G technology developments closely and was not ready to ramp up investments in this area.

They fear making substantial investments in 3G before the technology is mature and stable and the domestic market is ready.

Early this month, Singapore's second cellular operator MobileOne raised a five-year S$250 million facility to finance its operations and capital expenditure, including the initial roll-out of the 3G network.

 


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