StarHub Records US$169m In Revenue
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In its first year of operations since, StarHub has managed to not only hit but exceed revenue expectations to record a healthy S$308 million (US$169 million) for the financial year ending March 31, 2001.
Singapore's second infocomm operator, which launched in April 2000, has also topped its target of attracting 200,000 mobile customers, signing on 329,000 pre- and post-paid consumers in its first year to capture 12 percent of Singapore's mobile market. StarHub Mobile had also achieved 99.99 percent network coverage by Q4 of FY 2000, and had increased the number of roaming destinations to 85.
By March 2001, the company's Internet division had gained 17 percent market share, connecting 280,000 dial-up and 770 corporate customers.
StarHub's business market segment has attracted more than 300 customers, a "significant" number of which were multinational corporations in its first year of operation. More than 500 commercial buildings are also directly connected to StarHub's broadband fixed network, the company said in a statement. Its international and wholesale business unit has bagged 30 wholesale customers, contributing 16 percent to total corporate revenue.
"StarHub's first full year operating results clearly show us to be a serious player in this market...I especially appreciate the support we have received from our loyal customers [who] stuck with us throughout the temporary first-year teething problems," said Terry Clontz, StarHub's president and chief executive officer.
"Now, as we enter our second year, with network and billing problems behind us, and the merger with SCV in front of us, we are challenging ourselves to become an even more significant force in shaping the world class infocommunications market in Singapore, and within the region."
StarHub will also work toward the launch of its GPRS service by end-2001, concentrating on providing customers with content and value-added applications, according to the statement.