Mobile-8 off to flying debut

Shares of PT Mobile-8 Telecom, the fourth largest of the country's mobile phone operators, jumped by 20 percent on their trading debut Wednesday on the Jakarta Stock Exchange. The company mobile phone unit of PT Bimantara Citrasaw its stock climb by Rp 45 to close at Rp 270. About 738.7 million Mobile-8 shares changed hands Wednesday, accounting for about twofifths of the exchange's daily trading volume, according to Bloomberg figures. The company plans to increase its subscriber base to around 4 million customers next year and 6.9 million customers by the end of 2008. There are currently five commercial CDMA operators in Indonesia: Telekomunikasi Indonesia operating under the brand name TelkomFlexi, Indosat with StarOne, Bakrie Telecom with Esia, Mobile-8 with Fren, and Sampoerna Telekom Indonesia with Ceria. (The Jakarta Post, pg 01, Republika, pg 13)