Sources quoted by the daily said it was only a matter of time before SingTel invested in a second satellite system given its plans to become a major player in the region.

"It already has several investments in undersea cable networks so it would not be surprising if it decided to invest in a second satellite system," a telecommunications industry source told the daily.

Another source noted the improvement in the economic situation which meant an increase in demand for communications services.

"This coupled with the fact that the Internet is exploding, points to greater demand for satellite services," said the source.

SingTel's first satellite venture, the 240 million US-dollar ST-1, was launched in August 1998 under a 50-50 partnership with Chung Hwa Telecom of Taiwan.

SingTel executive vice-president for global services, Lim Shyong, told the paper "it would be too premature" to comment on talk of a second satellite.

SingTel was "still in the process of reviewing customer needs and potential demand, given the improving regional economic conditions," he said.

The report said the carrier had cash reserves of 6.4 billion Singapore dollars (3.8 billion US) which made it feasible it to invest in a second satellite.

Copyright 1999 AFP. All rights reserved. The material on this page is provided by AFP and may not be published, broadcast, rewritten or redistributed.

SingTel - ST-1

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