A digital demon steps offshore: emerging multinationals. (Singapore Telecom)
Economist (US), The, June, 1994
Singapore Telecom has become highly successful domestically and is poised to enter other Asian markets and to grow by offering new services. But the telecommunications firm faces growing competition and other obstacles in expanding abroad..
SINGAPORE TELECOM resembles the island that created it: small, but highly successful. The firm's pre-tax profits grew by 19.5% to S$1.6 billion ($1 billion) on sales of S$3.2 billion in the year to March 31st. Yet country and company alike are starting to worry about the things that bother rich countries. In particular, they worry about where future growth will come from. As a result, Singaporean firms are under orders from their government to invest elsewhere in Asia. This might sound easy: Singapore Telecom shows that it is not....
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