Hasnul in Singapore vs Malaysia
Hasnul Suhaimi has tendered his resignation as CEO at second largest telecommunication company PT Indosat Tbk this morning amid poor performance in first quarter 2006 and the rumor of his sub-standard authority in the company. Everybody speculates of his move to be the new CEO at PT Excelcomindo Tbk, the third largest cellular company, which is left vacant today after the shareholders meeting approved Manuel de Faria's resignation. Is it something to do with latent competition between Malaysia & Singapore at play?
Singapore is obviously the largest international telecommunication player in Indonesia through ST Telemedia's majority shareholding in Indosat, SingTel's 35% shares in Telkomsel (the largest cellular provider), and SingTel's 45% shares in PT Bukaka SingTel Indonesia (the largest fixed line provider in eastern part of Indonesia under a cooperation contract with PT Telkom Tbk).
Meanwhile, Malaysia has two major telecommunication investments through Telekom Malaysia's controlling ownership in Excelcomindo and Maxis Communication's investment at Natrindo (JV with Lippo Group).
Singapore's are clearly bigger than Malaysia's, but the competition is intensified recently. Today, for example, Excelcomindo announced its plan to invest US$500 million this year to broaden coverage and expand customer base. If approved, Hasnul will be Excelcomindo's CEO in three months time.
"I don't think Hasnul decides to move to Excelcomindo because of his knowledge about ST Telemedia's plans at Indosat. Indeed he has a good relationship with Malaysia's politicians and Telekom Malaysia wanted him," said a source close to Hasnul.
How good is he?
"He could complained about the limited authority given by ST Telemedia, but Indosat's performance has been decreased in the last few months," said an executive at Indosat.
Hasnul is tightlipped about his resignation. But Minister for SOEs Sugiharto praised Hasnul's decision to resign at the time of poor result recorded in Q1 2006. Whatever! One thing is clear, Sugiharto is bussy to groom someone to fill Hasnul's position at Indosat. Another friend?
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Singapore is obviously the largest international telecommunication player in Indonesia through ST Telemedia's majority shareholding in Indosat, SingTel's 35% shares in Telkomsel (the largest cellular provider), and SingTel's 45% shares in PT Bukaka SingTel Indonesia (the largest fixed line provider in eastern part of Indonesia under a cooperation contract with PT Telkom Tbk).
Meanwhile, Malaysia has two major telecommunication investments through Telekom Malaysia's controlling ownership in Excelcomindo and Maxis Communication's investment at Natrindo (JV with Lippo Group).
Singapore's are clearly bigger than Malaysia's, but the competition is intensified recently. Today, for example, Excelcomindo announced its plan to invest US$500 million this year to broaden coverage and expand customer base. If approved, Hasnul will be Excelcomindo's CEO in three months time.
"I don't think Hasnul decides to move to Excelcomindo because of his knowledge about ST Telemedia's plans at Indosat. Indeed he has a good relationship with Malaysia's politicians and Telekom Malaysia wanted him," said a source close to Hasnul.
How good is he?
"He could complained about the limited authority given by ST Telemedia, but Indosat's performance has been decreased in the last few months," said an executive at Indosat.
Hasnul is tightlipped about his resignation. But Minister for SOEs Sugiharto praised Hasnul's decision to resign at the time of poor result recorded in Q1 2006. Whatever! One thing is clear, Sugiharto is bussy to groom someone to fill Hasnul's position at Indosat. Another friend?
Labels: BUKAKA, Indosat, LIPPO, Sugiharto, TELKOM
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posted by yosef at 12:54 PM
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