The close rival of Telstra is SingTel-Optus, as of FY 2013. In spite of its dominating position in the Australian market, Telstra encountered a decreasing growth rate of 2.5% in its total assets. The decrease in total assets of the company can be primarily due to decrease in cash and cash equivalents that are brought by ‘borrowing repayments,’ more promotional activities, acquisition of increased inventory levels and ‘network expansion’ (Telstra 2013b, p. 19). Current and more liquid assets (readily available cash) are very important in sustaining and absorbing the costs that are inherent in building network infrastructures and telecommunication facilities. Moreover, intensive capital and investment are needed to successfully survive in the