Long Beep

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

Fixed line operator Suntel plans to infuse US$ 20 mn this year, to roll out its network islandwide.
The wireless local loop operator has sought the telecom watchdogs approval to get a slot in the 800 Mhz bandwidth.rn

rnSuntel officials say they applied for approval mid last year, but are yet to receive the regulators consent. rn

rnThe new network expansion, is expected to bring Suntels cots per line down to about US$ 200 from the current US$ 1000 levels. rn

rnBeing the largest of the two private wireless operators, Suntel has over 80,000 subscribers on its network.rn

rnSuntel has seen its earnings jump 305 percent to Rs. 505 mn, though revenues were flat at Rs. 3.425 bn as at end Dec. 2003. rn

rnSri Lankas second wireless operator said falling interest rates cut debt servicing costs and helped swell its bottomline. rn

rnFinance costs fell to Rs. 1.757 bn from Rs. 2.640 bn in 2002, which chipped off interest repayments to Rs. 572 mn from Rs. 780 mn. rn

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-LBO Newsdesk: