Logo of Phnom Penh Post newspaper Phnom Penh Post - Mfone to add users in tough industry

Mfone to add users in tough industry

Mfone to add users in tough industry

MFONE majority owner Thaicom said the Cambodian teleco’s subscriber numbers increased 5 percent year-on-year in the first quarter, despite fierce competition in the sector.

Mfone subscribers in the first three months of 2011 totalled just over 698,000, up 4.9 percent from the same period last year, according to first quarter earnings figures released late last week.

Meanwhile, Thaicom’s first-quarter revenues from its telephone divisions – which also includes Lao Telecommunications Company – fell to 321 million baht (US$10.6 million) from 452 million baht, or 29 percent, in the first quarter of 2010.

Its results came in the face of a difficult business environment for mobile providers in the Kingdom, the firm said.

“Currently, there are 9 mobile operators in Cambodia, leading to a price war and intense competition in the market, and a decline [in] revenue per minute usage,” the statement said.

Thaicom also said the rising value of the baht against the US dollar – the currency in which Mfone reports its financial statements – lowered its revenues presented in baht.

But compared to the prior quarter, telephone revenue was up by 8 million baht, or 2.6 percent, Thaicom said.

Mfone officials could not be reached for comment yesterday.

Thaicom closed on Friday on the Stock Exchange of Thailand at 8.10 baht (US$0.267), near its 52-week high of 8.90 per share.

MOST VIEWED

  • Negotiations on EBA being held

    In an effort to defuse tensions, a senior government official said Cambodia is negotiating with the European Union (EU) on the Everything But Arms (EBA) trade deal, which allows the Kingdom to export goods to the 28-member bloc tariff-free. The EU notified Cambodia on October 5

  • Ministers to tackle sea pollutants

    Preah Sihanouk provincial authorities and members of local communities have collected 77 tonnes of water hyacinth at a Sihanoukville beach, Preah Sihanouk Provincial Hall spokesperson Or Saroeun said. He told The Post yesterday that the aquatic weeds had been floating along some of the province’s

  • Chinese police escort deported scam suspects

    Ninety-one Chinese nationals accused of extorting money from victims in a Voice over Internet Protocol (VoIP) scam were deported from Phnom Penh International Airport on Monday under the escort of 182 Chinese police personnel. General Department of Immigration head of investigations Ouk Hay Seila told reporters

  • Sam Rainsy, government group set to clash at IPU Geneva meet?

    Opposition figure Sam Rainsy has been invited to speak at the General Assembly of the Inter-Parliamentary Union (IPU) in Geneva, according to a former Cambodia National Rescue Party (CNRP) lawmaker. A government delegation is also set to attend the meeting, a National Assembly press release