Sumitomo forecasts no profit from Myanmar telecom business in 2021/22

Japanese trading house Sumitomo Corp is assuming under its earnings forecast for the year to March 2022 that no profits will be made from its telecommunications business in Myanmar because of political instability, an executive said on Friday.

FILE PHOTO: Logos of Sumitomo Corp are seen after the company's initiation ceremony at its headquarters in Tokyo, Japan April 2, 2018. REUTERS/Toru Hanai/File PhotoTOKYO: Japanese trading house Sumitomo Corp is assuming under its earnings forecast for the year to March 2022 that no profits will be made from its telecommunications business in Myanmar because of political instability, an executive said on Friday.

Japan's KDDI Corp and Sumitomo, in partnership with Myanma Posts and Telecommunications , are operating a telecommunications business in Myanmar."We are continuing our businesses in Myanmar," Sumitomo Chief Financial Officer Masaru Shiomi told a news conference, adding that there is no plan to change their operations there.

Since the military seized power in a Feb. 1 coup and ousted an elected government led by Nobel laureate Aung San Suu Kyi, Myanmar has had daily protests and a surge of violence as security forces have killed hundreds of civilians.

All i can say is......Thanks GOD singtel is not the winning bid for the telecom service in myanmar.

Sumitomo knows everyone is Yangon will soon be using starlink uncensored

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

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SPH to restructure media business into not-for-profit entityFollowing more questions about maintaining editorial independence, SPH chief executive officer Ng Yat Chung appeared to lose his cool and said he took umbrage at such questions. Pointing to reporters present at the press conference, he said that their media outlets “receive substantial funding from various sources”, but they do not describe themselves as “bowing to the needs of advertisers in doing your job”. “(At) SPH, we always have advertising, but never pander to the needs of advertisers… The fact that you dare to question (the editorial independence) of SPH titles… I don't believe even where you come from, you concede in doing your job,” Mr Ng said.
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SPH to restructure media business into not-for-profit entity amid falling revenueSINGAPORE: Singapore Press Holdings (SPH) will transfer its media business into a not-for-profit entity amid the ongoing challenge of falling ...
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