First Year Financial Revenue Expected to Exceed S$250 million
Singapore, 8 March 2001 -- StarHub today reported its operating results for the third fiscal quarter ending December 2000, with all its strategic business units showing sustained growth. It has already achieved, and even surpassed, several of its annual targets before the end of its first financial year. As a result, StarHub now projects that its first year revenue, ending March 2001, to exceed S$250 million.
Third Quarter Highlights
These achievements have been attained due to the company’s focus on key segments in the consumer, business and wholesale markets. Key initiatives for StarHub’s third quarter of operations included:
On the Mobility front, following the S$100 million additional investment, StarHub has increased capacity on its mobile network and improved voice quality to 99.89%. Success call rate improved to reach 98.82%, and call drop-out rate was reduced to 0.6%.
"StarHub’s results after just nine months of commercial operations are very encouraging, and we thank the many customers who have chosen StarHub as their communications provider. Our progress to date clearly demonstrates the success of our market entry strategy. And, as we have worked through the typical growing pains and challenges of a start-up enterprise, we know there is still much more we can do to provide high quality services at affordable prices," said Terry Clontz, President and CEO of StarHub.
The third quarter also saw the International and Wholesale sector segment gain ground. As a key infrastructure and service provider in Singapore, StarHub owns and operates its own high performance, optic fibre based network. As a result, the company has been able to develop a brisk business, leasing bandwidth to other companies, mostly its competitors.
In addition, StarHub also reiterated its intent to aggressively pursue a 3G license in Singapore’s upcoming auction process. This is consistent with StarHub’s plans to continue developing innovative products and services that keep Singapore at the forefront of the info-communications revolution.
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